Market Chatter: China Vanke Offers 40% Repayment on April Bond to Avoid Default

MT Newswires Live04-08

China Vanke (HKG:2202, SHE:000002) has offered to repay 40% of the principal on a yuan note due in April in exchange for delaying repayment, Bloomberg News reported Wednesday, citing people familiar with the matter.

The firm is seeking to extend the maturity on a 2 billion yuan bond that is due April 23 with plans to meet lenders on April 17 to discuss the extension, the report said.

Any extension would require support from holders of over 90% of the notes, the news agency reported.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment