Zhenro Defaults After Missing Two Dollar Bond Coupons after Grace Period; Fantasia to Review Debt With Govt-Backed Firm
China’s Zhenro Properties said that it did not pay a combined $20.4mn in coupons on two dollar bonds, thereby resulting in a default. The notes in question are its new 8.35% 2024s & 7.1% 2024s for which $8.35mn and $12.07mn were due and payable on March 10,...
Fantasia Subsidiary Faces Wind-up Petition
Fantasia Group said that a major subsidiary was facing a wind-up petition by its creditors regarding a $149mn loan where Fantasia Investment Holdings was a guarantor. SCMP reports that it is the first time that a wind-up petition with respect to offshore debt is being...
Aoyuan Denies Trust Product Default; Fantasia Gets Approval to Delay Local Bond Coupons
China Aoyuan denied reports that it defaulted on its trust product saying it was involved in a financial dispute involving its joint venture which borrowed money and that the company is working with creditor for a solution. Bloomberg yesterday cited a media report...
