Strains increased for China’s heavily leveraged property firms after developer Fantasia Holdings Group Co. failed to repay a maturing bond, adding to the risks stemming from China Evergrande Group’s debt crisis.
Shenzhen-headquartered Fantasia didn’t repay a $205.7 million bond that was due Monday, according to a company statement. Separately, property management company Country Garden Services Holdings Co. said that a unit of Fantasia failed to repay a 700 million yuan ($108 million) loan that also came due on Monday and that a default was probable.
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October 04, 2021 at 08:04AM
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More Developer Woes as Fantasia Fails to Pay: Evergrande Update - Bloomberg
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