Market Chatter: China Vanke Offers to Pay Overdue Interest as It Seeks Bond Repayment Extension

MT Newswires Live12-18 11:34

China Vanke (HKG:2202, SHE:000002) has offered to pay overdue interest on a 2 billion yuan bond ahead of the expiry of a grace period next week, Reuters reported on Wednesday.

In its latest proposal, the developer said it would pay 60 million yuan of overdue interest by Dec. 22, according to a Tuesday filing with the National Association of Financial Market Institutional Investors, the report said.

Vanke is also proposing to extend the repayment on a 3.7 billion yuan note due on Dec. 28 by one year, Reuters added, citing sources.

Separately, Vanke was scheduled to meet insurance firms and commercial banks in Shenzhen on Wednesday afternoon, Bloomberg News reported, citing people familiar with the matter.

The purpose of the meeting was reportedly not clear.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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