Kaisa Bonds Mixed After Developer Defaults on Dollar Debt

April 21, 2015 2:38 AM

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Kaisa Bonds Mixed After Developer Defaults on Dollar Debt

Kaisa Group Holdings Ltd.’s dollar bonds were mixed in trading after the developer became the first Chinese real estate company to default on its U.S. currency debt.

The company’s $800 million of 8.875 percent 2018 notes rose 0.5 cents to 54.5 cents on the dollar as of 10:33 a.m. in Hong Kong, paring a 7.6-cent slump Monday. Its 2017 debentures slumped 3.0 cents to 54.8 cents on the dollar, after a 7-cent decrease, Bloomberg-compiled prices show.

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