Some offshore bondholders of embattled Chinese developer Kaisa Group who did not receive coupon payments this month have tapped investment bank Moelis & Co to advise them on the matter, a source with direct knowledge told Reuters on Tuesday.
Most major stock markets in the Gulf fell in early trade on Monday, with the Saudi index leading the losses a day after its biggest one-day fall in over a year following drone attacks.
The Philippine peso fell to a more than three-week low against a strong U.S. dollar and led losses among emerging Asian currencies on Monday, as hawkish comments from several U.S. central bankers hurt regional risk sentiment.
Jabal Omar Development Company , one of Saudi Arabia's largest listed developers, said on Sunday it agreed to restructure a 3 billion riyals ($799.91 million) loan it owed to the government as part of plans to fix its finances.
Chinese property firms saw their battered bonds cement a strong weekly bounce on Friday, although there was one notable absentee from the rally: China Evergrande Group.