Chinese property developer Kaisa announces offshore debt restructuring agreement By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 20 2024
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Source: Investing.com
Debt Restructuring Agreement: Kaisa Group has reached an offshore debt restructuring agreement with creditors, involving the issuance of U.S. dollar-denominated senior bonds and mandatory convertible bonds.
Details of Bond Issuance: The property developer plans to issue $5 billion in senior notes across five tranches and $4.8 billion in mandatory convertible bonds in seven tranches, with maturities ranging from 2027 to 2032 and interest rates between 5% and 6.25%.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
