China's Kaisa offers bondholders option to exchange existing bonds with new bonds
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[BENGALURU] Chinese developer Kaisa Group said on Thursday it is offering bondholders an option to exchange their existing bonds with new bonds having an extended maturity, in an attempt to improve its financial stability and continue to stay afloat.
The embattled property developer is offering exchange for at least US$380 million of the outstanding principal of existing notes, it said in a stock exchange filing.
REUTERS
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