Chinese developer Kaisa Group Holdings Ltd is unlikely to win bond holders' approval to extend the maturity of a US$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 Chinese property developers' ability to meet their near-term offshore repayment obligations. 

 Based on the situation, analyse why the possibility of corporate bonds’ default and liquidity premiums are likely to increase with maturity. How do maturity risk premiums affect the yield curve? Illustrate your answer with graph.