China Vanke seeks 90-day grace period extension for 2 billion yuan bond
China Vanke is seeking to extend the grace period for a 2 billion yuan bond repayment, originally due December 15, by an additional 90 trading days. The developer also proposed a one-year deferral, using project receivables as credit enhancements,...
By Reuters |
ETMarkets.com
China Vanke has proposed further extending the grace period for a 2 billion yuan bond repayment that matured on December 15 to 90 trading days, a filing showed on Thursday.
The developer also proposed again to defer the repayment by one year, add receivables from certain projects as credit enhancements, and pay overdue interest by the end of the current grace period, according to a document filed to the Chinese interbank market regulator.
The expiration date for the grace period would be pushed back to April 29 if holders approve Vanke's proposal, the filing said.
The developer also proposed again to defer the repayment by one year, add receivables from certain projects as credit enhancements, and pay overdue interest by the end of the current grace period, according to a document filed to the Chinese interbank market regulator.
The expiration date for the grace period would be pushed back to April 29 if holders approve Vanke's proposal, the filing said.
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