Why China is distressed debt heaven – for the savvy

Foreign investors see endless opportunity as US rate rises and Beijing's deleveraging push puts the squeeze on Chinese borrowers. The challenge comes in identifying the right deal ...

Some of them profited handsomely from an eventful restructuring at Kaisa Group, the first Chinese property developer to default on its offshore bonds. Others talk nostalgically about the good old days when they could buy a portfolio of soured bank loans on the cheap.

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