ICYMI: Another Chinese property development firm missed a debt payment
Bloomberg with the report on a missed payment by Fantasia Holdings.
The news was out overnight so it is not new news, posting as an ICYMI.
Says the Bloomberg report (more at that link above (may be gated) )
- 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 didn't repay a 700 million yuan ($108 million) loan that also came due on Monday and that a default was probable.
- Shenzhen-headquartered Fantasia's management and board "will assess the potential impact on the financial condition and cash position of the Group" stemming from the skipped bond payment, it said.
Back in mid-September Fitch downgraded the firm, prompting the question: