China debt crunch

Chinese property developer Fantasia fails to repay bond

S&P declares company in default amid worries about Evergrande

20211005 Fantasia

Fantasia Chairman Pan Jun, center, in 2012: Shares of the Shenzhen-based developer have been suspended from trade since Sept. 29. © AP

NARAYANAN SOMASUNDARAM, Nikkei Asia regional finance editor
October 5, 2021 14:00 JST
Updated on October 5, 2021 20:43 JST

HONG KONG -- Chinese property developer Fantasia Holdings Group has failed to repay a maturing bond and a loan in the latest sign of distress among the country's real estate companies.

Like bigger rival China Evergrande Group, Fantasia is based in Shenzhen and has been grappling with excessive debt amid a credit crunch.

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