Kaisa Offshore Bondholders Hire Advisers as Company Struggles

A set of Kaisa Group Holdingsoffshore bondholders has hired advisers as the cash-strapped Chinese property developer faces mounting refinancing risks, according to people with knowledge of the situation.

The ad hoc group is seeking advice from bankers at Moelis & Co and lawyers at Kirkland & Ellis, said the people, who asked not to be identified because the matter is private.

The company has yet to make at least some of the $88.4 million of U.S. dollar interest payments it had due on Nov. 11 and Nov. 12. That failure started the clock on a 30-day grace period ...