Kaisa Secures Creditor Agreement for Debt Restructuring

The Chinese property developer aims to avoid liquidation with a new financial plan involving bond swaps and shareholder loans.

Kaisa has reached an agreement with creditors for partial debt repayment to avoid a potential liquidation.
The restructuring plan includes issuing new bonds and mandatory convertible bonds worth over $5 billion.
Kaisa's founders will contribute 115 million yuan in shareholder loans to support the financial plan.
The company is working to stabilize its business and enhance its net asset value amidst industry-wide financial struggles.
A hearing is scheduled for September to determine the company's fate if the restructuring plan is not finalized.