Kaisa given respite but is still in the doghouse

Kaisa handed waiver by HSBC on loan breach but investor confidence stays shaken as it fails to make bonds coupon payment.

Kaisa given respite but is still in the doghouse

Chinese property developer Kaisa has been handed some respite after it emerged lender HSBC waived a breach on its loan, averting a potential cross default on its offshore bonds.

Kaisa's $51 million HSBC loan was supposed to have been in default due to the resignation of its erstwhile chairman Kwok Ying Shing, which breached one of the covenants with HSBC.

Although this is no longer an issue, the troubled property developer...

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