Chinese Property Developer Fantasia Misses Debt Payments

Company said it didn’t repay more than $200 million of bonds
Developer Country Garden said Fantasia unit didn’t repay loan

WATCH: Yet another indebted Chinese developer, Fantasia Holdings, has missed bond and loan payment deadlines as well. Stephen Engle reports.(Source: Bloomberg)

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By Claire Boston and Alice Huang

October 4, 2021 at 2:23 PM UTC

Updated on

October 5, 2021 at 1:01 AM UTC

This article is for subscribers only.

Another Chinese developer fell into crisis on Monday after failing to repay a maturing bond, adding to the strains of the nation’s heavily leveraged property firms following industry giant China Evergrande Group’s debt woes.

Fantasia Holdings Group Co. didn’t repay a $205.7 million bond that was due Monday, according to a company statement. Separately, property management company Country Garden Services Holdings Co. said that a unit of Fantasia didn’t repay a 700 million yuan ($108 million) loan that also came due on Monday and that a default was probable.