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Against the backdrop of continued adjustments and changes in the real estate market, Kaisa Group recently announced a major offshore debt restructuring agreement, injecting new vitality into the company's financial health by issuing US dollar-denominated senior bonds and mandatory convertible bonds. This move not only marks Kaisa's positive attitude in dealing with a complex market environment, but also arouses widespread market attention to its future development path.

In recent years, the real estate market has experienced a transition period from rapid growth to deep adjustment. The combination of multiple factors such as stricter policy regulation, tightening financial environment, and changes in market demand has made many real estate companies face unprecedented challenges. Kaisa Group, as a well-known comprehensive real estate developer in China, has not been immune to this wave of industry winter. With the slowdown in project sales and the obstruction of capital recovery, the company's debt pressure has gradually emerged, and it is urgent to alleviate the problem of capital liquidity through effective means.

In this context, Kaisa Group's choice to negotiate with creditors and restructure its debt by issuing US dollar bonds is undoubtedly an innovative and forward-looking solution. This move aims to extend the debt maturity and reduce short-term debt repayment pressure, thereby buying a valuable time window for the company to adjust its business strategy, optimize its asset structure, and enhance its profitability.

Senior Bonds：The total amount of USD 5 billion of senior notes was issued in five tranches, covering different maturities from 2027 to 2032, aiming to pay interest through stable cash flow and protect the basic returns of creditors. At the same time, the different interest rate ranges (5% to 6.25%) also reflect the diversity and flexibility of the bonds, meeting the needs of investors with different risk preferences.