Kaisa Group, Central China Real Estate and Greenland became the latest property companies to see their bonds impacted by the uncertainty surrounding China Evergrande’s debt troubles.
Frantic selling broke out after mid-sized developer Fantasia Holdings missed a bond payment on Monday. Fantasia had issued a statement last month that it had sufficient working capital and no liquidity issues.
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Both Fantasia and Kaisa Group saw their dollar-denominated bonds slump as much as 11 cents on Tuesday after Fantasia’s bonds had been plunged to below 20 cents on the dollar on Monday following its missed payment.
Others hit by the selling included R&F Holdings subsidiary Easy Tactic, Central China Real Estate and Greenland Holdings, a company which recently built Sydney’s tallest residential town and has plans to do the same in London.
- Reuters with additional editing by Sean O’Meara
Read more:
China Property Default Woes Deepen on Evergrande Uncertainty
China Developers Facing Worst Debt Crisis In A Decade
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