HONG KONG -- Defaulted mainland Chinese developer Kaisa Group Holdings said Tuesday that it has "entered into a restructuring support agreement" with two separate groups of ad-hoc creditors.
China debt crunch
Distressed Chinese developer Kaisa gets breather from major creditors
Other players continue to scramble against winding-up petitions and mounting losses
A Kaisa construction site in Shanghai in December 2021: Kaisa says 34% of one creditor group and 36% of another agreed to subscribe to newly issued senior notes and convertible bonds with later maturities. © Reuters
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