Kaisa Creditors Offer Forbearance to Avoid Bond Default
- Chinese developer has a $400 million dollar note due Tuesday
- Lazard group of bondholders offer eleventh-hour reprieve
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The Chinese developer that became the nation’s first to default on dollar bonds back in 2015 may have caught a break to avoid doing so again, at least for now.
A group of Kaisa Group Holdings Ltd. noteholders sent the company a formal forbearance proposal on Monday evening in Hong Kong, people familiar with the matter said.