HONG KONG—Chinese developer Kaisa Group Holdings Ltd. is unlikely to win bondholders’ approval to extend the maturity of a $400 million bond due next week, analysts say, heaping more pressure on other indebted peers. Kaisa’s proposal to delay the maturity of the bond by 18 months comes against the backdrop of growing creditor concerns about the property developers’ ability to meet its near-term offshore repayment obligations. Some developers in late October called on regulators to extend their offshore bond maturities or undertake debt restructuring, as a growing number of defaults hit the sector in fallout from embattled China Evergrande Group. Kaisa needs at least 95 percent of its bondholders to approve a proposal to exchange $400 million, 6.5 percent offshore bonds due Dec. 7, for new notes due June 6, 2023 at the same interest rate. At least one group of Kaisa bondholders rejected the offer, according to a letter …