UPDATE 1-Bonds of China developer Kaisa fall after landmark default

April 21, 2015 4:14 AM

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HONG KONG, April 21 (Reuters) - Bonds of troubled Chinese developer Kaisa Group slipped on Tuesday in volatile trade after a landmark default on its coupon payment unnerved investors and highlighted the risks of investing in the country's property sector.

The borrower said late on Monday it had failed to pay a coupon on its bonds due 2017 and 2018 within the grace period, becoming the first Chinese developer to default on its dollar bonds.

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