China homebuilder Fantasia's bonds tumble as it misses payment deadline
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[NEW YORK] Chinese homebuilder Fantasia Holdings' dollar-denominated bonds lost nearly half their market value in a massive Monday selloff, after it said it had failed to make a US$206 million international market debt payment on time.
The firm's July 2022 and October 2022 issues both tumbled nearly 16 US cents to 19.5 cents on the dollar each, Refinitiv data showed.
In a statement, the property developer said it will assess the potential impact of the non-payment on the group's financial conditions.
On Sep 20, Fantasia had issued a statement that it had sufficient working capital and no liquidity issues.
REUTERS
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