by Amruth Sundarkumar | Jan 17, 2023 | China, Distressed / Defaulted Bonds
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...
by Amruth Sundarkumar | Jan 16, 2023 | Distressed / Defaulted Bonds
Fantasia Holdings released details of its offshore-debt restructuring proposal, more than a year after its default in October 2021, as per an HKEX filing. The details include swapping $1.3bn of offshore borrowings into shares and extending some of its bonds’...
by Amruth Sundarkumar | Nov 2, 2022 | China, Distressed / Defaulted Bonds
China Evergrande got a notice of enforcement from Shengjing Bank for unrecoverable funds. The bank said that the developer did not pay RMB 32.6bn ($4.48bn) that was lent to its unit from 2020 to 2021. As per Reuters, Evergrande’s 30.99% stake in Xinjiang...
by Amruth Sundarkumar | Oct 6, 2022 | China, Distressed / Defaulted Bonds
Fantasia Holdings said that it reached an agreement with its major dollar bond creditors regarding “basic commercial terms” of a debt plan. However, it did not give details about the plan involved or who the creditors were. The developer said that the deal would...
by Amruth Sundarkumar | Sep 22, 2022 | Financial News
China Fortune Land Development’s (CFLD) debt restructuring plan for its offshore bonds has been met with resistance from its creditors. Advisers of an ad-hoc bondholder group of CFLD’s dollar bonds have planned a conference call for all creditors later...
