Document shows Shenzhen asset disposal plans to repay WMPsYango Group secures onshore bond extension, sources sayand three of its units had their shares suspended from trading on Friday, a day after an affiliate missed a payment to onshore investors as China's snowballing property debt crisis jolts other developers.
Reuters reported last month, citing sources, that Kaisa was seeking buyers for its property management unit Kaisa Prosperity and two residential sites in Hong Kong, as it scrambles to meet a wall of debt repayments.Kaisa's troubles come amid concerns about a broadening liquidity crisis in the Chinese property sector, with a string of offshore debt defaults, credit rating downgrades and sell-offs in the developers' shares and bonds in recent weeks.