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.)
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