Chinese developer Kaisa Group Holdings Ltd. missed payments on wealth management products it guaranteed, the latest sign of stress in the nation’s beleaguered real estate industry.
The company has faced “unprecedented pressure on its liquidity” due to unfavorable factors such as credit rating downgrades and a challenging property market environment, Kaisa said in a statement on Thursday. The developer and the issuer Kaisa Finance will work out a repayment plan soon, it added.
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November 04, 2021 at 03:05PM
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Kaisa Misses Wealth Product Payment Amid 'Unprecedented' Stress - Bloomberg
"payment" - Google News
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