Kaisa sells properties but no white knight

Troubled property developer Kaisa raises $369 million from the sale of prime property sites to Sunac China but investors hoping for a white knight dump its bonds.

Troubled Kaisa has sold four prime property projects to Sunac China for Rmb2.3 billion ($369 million), giving the company some cash to keep it afloat but dealing a blow to offshore bondholders hoping for a white knight.

¬ Haymarket Media Limited. All rights reserved.

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