A Chinese real estate developer has warned it might not be able to pay a $400 million bond due next week, adding to financial strain in an industry that is struggling to avoid defaults on billions of dollars of debt.
The Associated Press
Kaisa Group Holdings Ltd., headquartered in Hong Kong, said it tried to renegotiate the debt due Tuesday but too few bondholders agreed to unspecified terms. It did not say if there was a grace period before it would be declared in default, which can trigger requirements to repay other debt immediately.
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