Chinese developer warns it might not pay $400 million bond

BEIJING (AP) — A Chinese real estate developer has warned it might not be able to pay a $400 million bond due next week, adding to financial strain in an industry that is struggling to avoid defaults on billions of dollars of debt. Kaisa Group Holdings Ltd., headquartered in Hong Kong, said an attempt to renegotiate the debt with bondholders failed. Kaisa said in a statement, “there is no guarantee” the company can meet its repayment obligation. Some Chinese developers are struggling to reduce debt after regulators tightened limits last year on their use of borrowed money. That is fueling fears about possible defaults and turmoil in financial markets.