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...
by Amruth Sundarkumar | May 31, 2022 | China, Distressed / Defaulted Bonds
Deeply distressed property developer, Fantasia Holdings is said to face possible liquidation after it received a wind-up petition from Flower SPV-4 Ltd. on failing to repay an outstanding loan of $149mn on May 26. The petition was filed in the Grand Court of the...
by Amruth Sundarkumar | Apr 11, 2022 | China, Distressed / Defaulted Bonds
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,...
