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Stock impact report

China's Kaisa aims to present offshore debt revamp plan in Q4 -sources [Financial Post (Toronto, Ontario, Canada)]

Moelis & Company Class A (MC) 
Last moelis & company class a earnings: 4/22 04:15 pm Check Earnings Report
US:NYSE Investor Relations: moelis.com
Company Research Source: Financial Post
Advertisement Kaisa is working to restructure its offshore debt after missing some debt obligations last year. With $12 billion of offshore debt, it is China’s largest issuer of offshore debt among developers after China Evergrande Group. Kaisa has been talking to its creditors to put together a restructuring plan since late last year and this will mark the first time the company will put forward a plan to bondholders. The restructuring plan will propose repaying dollar debt principals in installments, the people said. One of them said that Kaisa planned to propose swapping part of its debt into shares in the company or its development projects. Kaisa plans to kick off negotiation with a group of offshore creditors represented by investment bank Moelis & Company in late September, this person said, in which discussions will focus on a framework for the plan, with most details to be decided later on. “Actual execution won’t be until year-end to first quarter next year,” the person Show less Read more
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