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Trading in shares of Chinese developer Kaisa suspended: HKEX
Kaisa was unlikely to meet its US$400 million offshore debt deadline on Tuesday, a source with direct knowledge of the matter told Reuters.
Non-payment by Kaisa would push the 6.5 per cent bond of Kaisa, China's largest holder of offshore debt among developers after Evergrande, into technical default, triggering cross defaults on its offshore bonds totalling nearly US$12 billion.