The state-backed developer obtained a new loan from Shenzhen Metro to fund upfront payments on extended onshore bonds, underscoring continuing strain despite progress on debt extensions
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China Vanke Co. secured a 519 million yuan ($76.7 million) loan from its largest shareholder to cover impending obligations on two domestic bonds, completing its initial round of extensions for all public debt maturing in 2026.
The 1.14 billion yuan loan from Shenzhen Metro Group comes after the company failed to find a buyer for its pig farming business…
Steady drip of lifelines underscores the severity of Vanke’s cash crunch
After state-backed rescue funds were capped, the financially strapped developer is seeking a unified extension on 6.7 billion…
Shareholders approve new share issuance, loan arrangements for embattled developer
Property developer asks for delay in payment despite backing of Shenzhen Metro
Caixin’s investigation into former President Zhu Jiusheng’s off-the-books arrangements reveals how they stranded investor funds…
