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Saturday, October 16, 2021

Chinese developer Fantasia misses repayment deadline

Chinese developer Fantasia misses repayment deadline

SINGAPORE (Reuters) – Chinese property developer Fantasia Holdings Group Co Ltd said on Monday it had failed to repay $206 million in debts due on October 4, the latest sign of distress and liquidity issues in China’s property sector.

The company said it had raised $500 million in 2016 due in 2021, but that $206 million remained outstanding and fell due on Monday. “The company did not make the payment on that day,” it said in a statement to the Hong Kong stock exchange.

Source: Investing.com

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