The debt-laden Chinese developer said creditors representing 75 per cent of its US$9.1 billion offshore debt have agreed to restructuring terms, an outcome ‘everybody should be happy with’, according to one analyst.
At least six Wall Street banks are cautiously trading in Russian bonds after the Treasury temporarily rolled back a block that left $2.5 billion of CDS insurance payouts stranded.
Kaisa Group reported some progress in its debt restructuring efforts, following agreements with undisclosed onshore creditors. Offshore creditors may need to wait longer for some good news.