Vanke Gets $383 Million Loan From State Backer for Debt
China Vanke Co. won more support from authorities as its largest state shareholder agreed to provide up to 2.8 billion yuan ($383 million) to help the struggling developer repay outstanding debt.
China Vanke gets $383 million loan from state shareholder
Cash-strapped China Vanke said its major shareholder, state-owned Shenzhen Metro, is giving it a 2.8 billion yuan ($383.12 million) loan, in a sign the government is stepping up efforts to stabilise the property developer.
Property developer China Vanke secures $383 million loan from Shenzhen Metro
China Vanke (CHVKF) has secured a 2.8 billion yuan ($383.12 million) loan from its major shareholder, state-owned Shenzhen Metro to repay debt, indicating further support from the government for the cash-strapped developer.
China Vanke secures US$383 million lifeline from Shenzhen Metro Group to repay debt
Shenzhen Metro Group, which holds a 27.2 per cent stake, signed a three-year agreement with Vanke to provide secured loans of up to 2.8 billion yuan (US$383 million), according to a filing to the Hong Kong stock exchange late on Monday.
China Vanke Secures Cheap Loan From State-Owned Shareholder
The Shenzhen-based company said in a filing late Monday that it received the loan from Shenzhen Metro Group, which is a state-owned subway operator in one of the biggest cities in China. The loan was at interest rate of 2.34%, below China's one-year loan prime rate at 3.1%.
Vanke Gets $383 Million Loan From State Owner for Debt Repayment
China Vanke Co. won more support from authorities as its largest state shareholder agreed to provide up to 2.8 billion yuan ($383 million) to help the struggling developer repay outstanding debt.
Shenzhen government tightens control over Vanke with management changes, document shows
The government in the Chinese city of Shenzhen has made 10 new management appointments at China Vanke , according to an ...
China Vanke Shares Jump as Management Reshuffle Raises Government Bailout Hopes
Shares of China Vanke jumped after key management changes fueled hopes that the government is stepping in to rescue the troubled property developer.
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Rare China Support Shows Vanke May Be Too Big to Fail
(Bloomberg) -- China Vanke Co. has been thrown a lifeline by state authorities, a rare show of support that signals the developer may be too big to fail even after dozens of property firms ...
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Vanke Is Said to Have Prepared Cash for Yuan Bond Payment
Developer China Vanke Co., which has a record amount of debt coming due, told some creditors prior to turbulence in the company’s bonds and shares on Friday that it has prepared enough cash to ...
U.S. News & World Report21d
Vanke Woes to Test Limits of China's Property Sector Revival Efforts
With the crisis in the sector entering its fifth year, concerns about the financial health of China Vanke pose fresh challenges for the authorities, who have so far avoided the moral hazard of ...
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China Vanke's CEO, chairman resign as $6.2 billion forecast loss deepens concerns
HONG KONG (Reuters) -Property developer China Vanke said on Monday its chairman Yu Liang and CEO Zhu Jiusheng stepped down as it forecast a record $6.2 billion net loss for 2024, as concerns over ...