Kaisa (HKG:1638) said investors holding 75.11% of the Kaisa in-scope debt and about 81.07% of the holders of the Rui Jing In-Scope Debt have agreed to the developer's restructuring plan, according to a Monday filing with the Hong Kong stock exchange.
The developer is the second-largest issuer of offshore bonds after China Evergrande (HKG:3333), according to the South China Morning Post.
Kaisa defaulted on about $12 billion of bonds and other debt since 2021 following China's "three red lines" policy.
Price (HKD): $0.10, Change: $+0.015, Percent Change: +17.44%
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