Kaisa Can't Repay Trust Loan

Kaisa Said Unable to Repay Trust as Third Party Steps In
Kaisa Group Holdings Ltd. (1638) can’t repay a 2.5 billion yuan ($402 million) trust due tomorrow and the product will be transfered to a third party so investors can get their money back, two people familiar with the matter said.

Ping An Trust Co. established the two-tranche trust product on behalf of Kaisa in April last year, the people said, asking not to be identified because the details are private. The money on the largest portion comes due Jan. 21 and an as yet undisclosed third party will take it over so investors can be repaid their principal plus interest, the people said.

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