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Payment overdue on Kaisa-guaranteed investment product, says Securities Times

Payment overdue on Kaisa-guaranteed investment product, says Securities Times

FILE PHOTO: A woman rides her bike in front of a construction site by Chinese property developer Kaisa Group in Shanghai February 17, 2015. REUTERS/Carlos Barria

SHANGHAI : Payment on an investment product issued by Kaisa Finance and guaranteed by developer Kaisa Group Holdings IS overdue, the Securities Times newspaper reported on Thursday.

Kaisa Group told the paper that it faces unprecedented liquidity pressure owing to rating downgrades and a tough property market.

Kaisa Group and Kaisa Finance are discussing repayment plans together, the newspaper added.

(Reporting by SHANGHAI NEWSROOM; Editing by David Goodman)

Source: Reuters

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