IFR Asia’s High-Yield Roundtable took place on February 10, against a fascinating backdrop in the Asian credit markets. Weeks earlier, Chinese property developer Kaisa Group announced it had failed to repay a loan after local authorities blocked its sales and its chairman left, spreading panic among high-yield investors and raising fears of a systemic crisis.
IFR Asia High-yield bonds Roundtables 2015: Participants
IFR ASIA: To open the discussion, I’d like to raise the issue of Chinese property developer Kaisa, which almost defaulted in January after local authorities blocked its sales. How significant is this to the wider market?