On December 1, preliminary proposals for the 22 Vanke MTN004 bondholders' meeting revealed plans to extend both principal and interest payments by one year. The initial proposal indicates that due to multiple factors, the company continues to face severe operational challenges.
Bondholders are requested to approve the following repayment adjustments: - The principal payment deadline will be postponed by 12 months to December 15, 2026 (referred to as the adjusted payment date). - Full principal repayment will occur on December 15, 2026. - Accrued interest prior to the extension will be deferred by 12 months from the original payment date and settled on December 15, 2026, without compounding during the deferral period. - The coupon rate will remain unchanged at 3.00% during the extension period (December 15, 2025 to December 15, 2026). - Additional interest accrued during the extension will be paid together with the principal repayment.
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