The company didn’t pay $52 million of interest on 2017 and 2018 notes due last month, according to a Hong Kong stock exchange statement Monday. Kaisa had until Monday to make the payments after a 30-day grace period expired at the weekend.
The default at Shenzhen-based Kaisa follows a series of mishaps since December, capped by the surprise return of founder Kwok Ying Shing last week. The developer has sought ways to service 65 billion yuan ($10.5 billion) of debt owed to both onshore and offshore lenders while also becoming embroiled inPresident Xi Jinping’s crackdown on graft.
Kaisa “is focused on facilitating the release of its 2014 audited financial results,” according to its statement. Following that release, the company “will continue its efforts to reach a consensual restructuring of its outstanding debts.”
波士顿中国留学生因骚扰民主活动人士被判入狱
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4月24日,来自中国的前伯克利音乐学院学生吴啸雷被美国法院判处九个月监禁。法院要求吴啸雷6月7日前往指定的监禁 […]...
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