“Kaisa, a developer that defaulted in 2021, has been avoiding restructuring talks with investors and looks far from an agreement with creditors. Yet despite its troubles, demand for the company’s…
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“Kaisa, a developer that defaulted in 2021, has been avoiding restructuring talks with investors and looks far from an agreement with creditors. Yet despite its troubles, demand for the company’s…
Analysts still have big questions on developers’ true levels of cash and debt. Many are thought to have huge off-balance-sheet debts that have gone unreported, says Luther Chai of CreditSights,…
If more cities follow, developers may avoid facing up to the reality that household demand is lower than they want—at least for a bit longer. Analysts still have big questions…
This wave of distress has led to a crunch in the offshore junk-bond market. Spreads (ie, yields compared with the risk-free rate) have reached nearly 17 percentage points, the widest…