Fantasia Holdings Group, the Shenzhen-based property developer founded by the niece of a former Chinese vice-president, failed to repay US$205 million of debt due on Monday. Photo: Weibo
Fantasia Holdings Group, the Shenzhen-based property developer founded by the niece of a former Chinese vice-president, failed to repay US$205 million of debt due on Monday. Photo: Weibo
Evergrande crisis
Business

Fantasia, another debt-laden Chinese property developer, defaults on US$205 million bond, as Evergrande crisis rolls on

  • The missed payment on Monday will add to fears about the financial health of the Chinese property sector
  • Earlier on Monday, Fitch Ratings downgraded Fantasia’s long-term foreign currency issuer rating to ‘CCC’ from ‘B’, citing the risk of default

Eric Ng
Eric Ng

Updated: 11:11pm, 5 Oct, 2021

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Fantasia Holdings Group, the Shenzhen-based property developer founded by the niece of a former Chinese vice-president, failed to repay US$205 million of debt due on Monday. Photo: Weibo
Fantasia Holdings Group, the Shenzhen-based property developer founded by the niece of a former Chinese vice-president, failed to repay US$205 million of debt due on Monday. Photo: Weibo
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