Kaisa Group's offshore debt restructuring takes effect, swaps $10.43 billion in new notes and convertible bonds

Kaisa Group has confirmed that all conditions for its offshore debt restructuring have been satisfied, with the restructuring becoming effective on September 15.

The restructuring involves the full discharge of claims against obligors and relevant parties in exchange for the issuance of New Notes and Mandatory Convertible Bonds (MCBs) to scheme creditors. These instruments, comprising the restructuring consideration, have been issued by the company with a total value equivalent to approximately HK$104.3 billion.

The New Notes and MCBs are scheduled to be listed on the Singapore Exchange on September 16.