by Amruth Sundarkumar | Sep 22, 2021 | China, High Yield Bonds
Chinese property developer Fantasia Holdings Group clarified via an exchange filing on Monday that there has been no delay in repaying its offshore senior bonds due, in response to market rumors. The company said, “Operating performance is good with sufficient...
by Amruth Sundarkumar | Sep 20, 2021 | China, Credit Ratings, High Yield Bonds
Fantasia was downgraded by Fitch to B from B+, with a negative outlook due to lower than expected 1H2021 implied cash collection and uncertainty over the refinancing of a significant amount of dollar bond maturities through 2022 due to market volatility. A high...
by Amruth Sundarkumar | Sep 17, 2021 | China, High Yield Bonds
Chinese high-yield property developers’ dollar bonds were down sharply as concerns on Evergrande only worsen with contagion risks on the cards. Fantasia’s dollar bonds were the worst hit, falling as much as 12 cents on the dollar, Yango Group’s bonds...
by Amruth Sundarkumar | Sep 8, 2021 | China, High Yield Bonds
Sources report that private banking units of Citigroup and Credit Suisse AG have stopped accepting bonds of Fantasia after increasing concerns about their financial health. Bloomberg cites sources saying that the two banks have assigned a ‘zero lending value to...
by Amruth Sundarkumar | Sep 6, 2021 | China, High Yield Bonds
Dollar bonds of Fantasia have dropped this morning with its 10.875% 2023s in particular down 21 cents to trade at 52.8 cents on the dollar. Fantasia’s bonds have been trending lower for more than a week and have followed the path of peers like R&F Properties and...
