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Chinese property developer unveils offshore debt restructuring

2015-03-10 14:37 CRIENGLISH.com Web Editor: Wang Fan

Chinese property developer Kaisa Group is now actively moving to try to restructure its debt.

The restructuring plans involve trying to cut the interest and extend the maturity of its offshore and convertible bonds.

Any such plans would be subject to a vote by its creditors.

The Chinese developer is also hoping to create changes to its offshore loans.

Details of those plans haven't been worked out.

Kaisa has debts of around 2.5-billion U.S. dollars.

It now faces the prospect of being the first Chinese property developer to default on its offshore debt if it fails to make a pair of bond coupon payments this month.

For more on Kaisa's debt restructuring plans, we're joined now live by Gao Shang, analyst with Beijing-based Guantong Futures.

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