Anniek Bao, Serena Ng and Frances Yoon | WSJ | Oct 5th, 2021
Category: Financial News
Fantasia Holdings Group Co., a developer of luxury apartments in China, said it didn’t make a $206 million U.S. dollar bond payment that was due Oct. 4, adding to the malaise surrounding the country’s highly indebted property companies.
The company, which like China Evergrande Group is based in Shenzhen, said late Monday that it didn’t pay the outstanding principal on a 7.375% bond which it issued in 2016. Fantasia originally sold $500 million of this debt and earlier this year bought back some of the securities.