Joseph Lau family invests in Kaisa Group senior notes

Wednesday, April 28, 2021

Mainland developer Kaisa Group (1638) will issue US$500 million 11.7 percent senior notes due 2025 to fund the tender offer and refinance other existing medium to long term offshore debt.

Local developer Chinese Estates (0127) said chief executive Kimbee Chan Hoi-wan, the wife of billionaire Joseph Lau Luen-hung, and Lau's family bought the senior notes for US$300 million, as the company is optimistic about Kaisa's business development in the Greater Bay Area.