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Kaisa Bonds Jump as Onshore Restructuring Raises Creditor Hopes

By Tony Seruga

Citic Securities says Kaisa may be ready to resume operations
Kaisa was first Chinese builder to default on dollar bonds

Kaisa Group Holdings Ltd.’s dollar bonds headed for the best rally in six months on speculation a restructuring agreement with an onshore lender will allow the Chinese developer to focus on resolving a stalemate with offshore creditors.

The Shenzen-based developer signed an agreement with Bank of China Ltd. to restructure debt at its Shanghai unit, the Securities Daily reported Tuesday, citing a person close to the company. The builder’s projects in Shanghai and Wuhan have resumed construction and sales, the report said…

Kaisa Bonds Jump as Onshore Restructuring Raises Creditor Hopes

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