Kaisa to restructure offshore bonds
By Bloomberg | China Daily | Updated: 2016-01-12 08:00
Kaisa Group Holdings Ltd has pressed ahead with a plan to restructure its offshore bonds by offering incentives to creditors almost two months after rejecting a rival proposal from a US hedge fund.
The developer will pay bondholders and lenders a consent fee equivalent to 1 percent of holdings if they support the plan by Jan 24, according to a filing to the Hong Kong Stock Exchange.
The incentive drops to 0.5 percent for signup between Jan 25 and Feb 7.
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