Was all of it only a nice dream? Traders in Chinese language property developer Fantasia’s greenback debt who a yr in the past had been feasting on juicy, however nonetheless single-digit yields, now discover themselves with out their principal. Many others might discover themselves in an identical place quickly.
Fantasia Holdings didn’t repay a $206 million U.S. dollar bond on Monday. The corporate is far smaller than whale-like Evergrande—its gross sales final yr had been $3.4 billion versus the latter’s $79 billion—however many extra builders that overextended themselves within the increase years might face an identical destiny.
https://www.wsj.com/articles/chinas-property-fantasia-turns-nightmarish-11633522146?mod=rss_markets_main | China’s Property Fantasia Turns Nightmarish