Dollar bonds of Fantasia rose by 4-5 points across the board to trade at over 15-17 cents on the dollar after it revealed its restructuring details. As part of its restructuring, the developer said that it will swap $1.3bn of its offshore borrowings into shares and extend some of its bonds’ maturities by 2-6.5 years. Creditors will receive 8 new offshore bonds maturing from December 2024 to June 2029 with coupons ranging from 5-8%.
