Holders of Kaisa bonds think the return of the company chairman implies a better chance of receiving their principal back.
Kaisa, the troubled Shenzhen-based property developer that defaulted on a $52m loan when its chairman, Kwok Ying Shing, resigned in December, announced Mr Kwok will return as chairman effective today.
The company's dollar-denominated 2018 bonds rose 4.3 points to 67.58 cents on the dollar, the highest since February 11, according to Bloomberg.
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