China Vanke

China Vanke seeks a one-year extension on second bond of 3.7 billion yuan

The request comes as the firm scrambles to secure enough creditor support for a plan to delay payment on a 2 billion yuan bond

The debt extension is a critical part of Vanke’s strategy to relieve liquidity stress and mitigate default risk.

China Vanke aims to avoid default as bondholder vote begins

The company needs approval from holders of at least 90% of the amount owed

Vanke tell bondholders there is no room to improve terms as the builder needs cash to finish homes and deliver them to buyers.

Several Vanke bondholders signal they will oppose extension plan: sources

The extension will give Vanke some breathing room before it considers a broader restructuring

Vanke has been grappling with severe liquidity pressures since late last year.

China Vanke asks for 12 months to pay bond under extension plan

The 3% coupon would remain unchanged during the extension period

Global banks remain pessimistic on China’s property market, which has faced renewed sales weakness since the second quarter.

China tells stats providers to halt home sales data publication

Information is an important gauge of the new-home market as it is published 2 or 3 weeks before official data

Vanke’s surprise move adds to the industry’s woes after years of falling sales and massive defaults by China Evergrande Group, Country Garden Holdings, and others.

China’s private data on home sales vanishes after Vanke turmoil

Global banks remain pessimistic on China’s property market, which has faced renewed sales weakness since the second quarter

Vanke bonds and stocks have tumbled this week, initially sparked by a media report that the state-backed developer might face a debt restructuring.

S&P downgrades China Vanke, says its financial commitments unsustainable

Debt woes at Vanke have revived concerns that China’s real estate sector could fall back into crisis

Vanke has become a crucial bellwether for Beijing’s willingness to support the battered real estate sector.

Vanke’s loan request rejected by at least two Chinese banks

The response underscores waning support for one of the last big survivors of China’s real estate crisis

The suddenly mounting debt problems facing Vanke have become a key gauge of China’s stance on the real estate sector, which has been a drag on the economy for several years.

China property woes deepen as Vanke seeks bond payment delay

Shenzhen Metro Group has extended about 30 billion yuan in loans to the cash-strapped builder, a crucial funding source that helped the company repay bonds this year

Based in the southern city of Shenzhen, Vanke has long been viewed as a benchmark for gauging the government’s stance on the property sector.

China property crisis thrust back into spotlight by Vanke plunge

The company faces immediate tests next month when two onshore bonds come due