China Vanke, a major Chinese real estate developer, is facing significant challenges in the bond market. Various domestic bonds of Vanke have experienced sharp declines, with '22 Vanke 05' hitting an all-time low of 74.2 yuan. Despite being considered well-managed, Vanke's June 24 bond yields 36%, indicating market skepticism. However, '22 Vanke 05' rebounded by 25% after rumors of debt negotiation were denied, causing a 5% drop in Vanke's shares.
⚡Vanke's onshore bond '22 Vanke 05' rebounded by 25% on Monday after New China Asset denied the rumor that Vanke was negotiating with the asset manager for an extension on 10 billion yuan in non-standard debt. Vanke's shares drop around 5% in mainland and HK. https://t.co/eKDEtZga33
I don’t think anyone actually read this part but there was a whole section of my china primer that basically said the risk/reward on shorting Vanke & other Chinese prop bonds trading near par while being long the blown out COGARDs AGILEs and ROADKGs would be a good idea. https://t.co/V9aqy8aRyf
Got to be mispricing in one of these Vanke has been the largest Chinese real estate developer during most of the past decade, and many would consider it the best managed co in the industry. Its June 24 bond yields 36%, which suggests the market doesn’t believe it would pay. But,… https://t.co/3V1uTbEmdO
China Vanke RMB bonds USD China Vanke 3.975% 09Nov2027 trading at 54.5 bid For an SOE not a good look https://t.co/7wHeLYZtGn https://t.co/hBiWg0IX0y
Various domestic bonds of #Vanke witnessed sweeping declines on Friday. Among these, '22 Vanke 05' plunged 6.7% to an all-time low of 74.2 yuan, accumulating a weekly loss of 9.2%, which marks the most significant weekly downturn in the bond's history. #China #Realestate