Trading of Chinese Real Estate Developer of Kaisa Group Suspened

Shares trading of Kaisa Group the largest offshore bond issuer after China Evergrande has been suspended

Shares trading of embattles Chinese developer Kaisa Group Holding was suspended on Wednesday, according to a Hong Kong Stock exchange filing.

According to Reuters source, Kasia was unlikely to meet its $400 million offshore debt deadline on Tuesday.

A non-payment would lead to default of the company 6.5% bond, triggering cross defaults on its offshore bonds totaling nearly $12 billion.

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