Developer Fantasia sees best day in 17 months on extension of bonds maturity

Fantasia Holdings

21/12/2021 03:20

** Shares of Chinese property developer Fantasia Holdings
Group Co Ltd  1777.HK  jump as much as 21.7% to HK$0.365, on
track for their best session since July 2020 
    ** Guangdong, China-based co, which has a market value of
HK$1.79 bln ($229.50 mln), says bondholders of the 7.50% RMB
denominated bonds originally due 2021 have resolved to extend
the maturity date to 2023  urn:newsml:reuters.com:*:nFWN2T50LQ
    ** Says the bondholders have also resolved to modify the
interest payment schedule for the bonds due on Dec. 20, 2021,
with 20% of the interest to be paid on Dec. 20, 2021 and 80% to
be paid on Dec. 17, 2022
    ** Says it has made arrangement for the payment on Dec. 20,
2021 in accordance with the revised schedule
    ** The Hang Seng Mainland Properties Index  .HSMPI  and the
Hang Seng Composite Index on properties and construction stocks
 .HSCIPC  both climb 1%
    ** The Hang Seng China Enterprises Index  .HSCE  and the
Hang Seng Index  .HSI  both gain 0.2%
    ** Stock had fallen 77.8% this year, as of last close 
    ($1 = 7.7996 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))