by Amruth Sundarkumar | Oct 5, 2021 | China, Distressed / Defaulted Bonds
Fantasia defaulted on its $205.656mn 7.375% bond due October 4. The bond did not have a grace period. Fantasia said it will assess “the potential impact on the financial condition and cash position of the group under the circumstances” adding that it will...
by Amruth Sundarkumar | Sep 30, 2021 | Credit Ratings, High Yield Bonds
Fantasia was downgraded by S&P to CCC from B by S&P and placed on credit watch negative due to its substantial repayment risk on USD bonds including its $212mn on its 7.375% bonds due October 4 and its $250mn 6.95% 2021s and $300mn 15% 2021s due in December....
by Amruth Sundarkumar | Sep 27, 2021 | China, Credit Ratings, High Yield Bonds
Fantasia Holdings was downgraded by Moody’s to B3 from B2 and its senior unsecured bond ratings were cut to Caa1 from B3. All the ratings were placed ‘under review for further downgrade’ from ‘negative’. The downgrade came on the back of...
by Amruth Sundarkumar | Sep 24, 2021 | China, High Yield Bonds
Dollar bonds of Evergrande’s peer fell again with some bonds of Fantasia down over 10% and those of Greenland Holdings’ fell about 2-4% as concerns grow over Chinese developers’ financial position.
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...
