Chinese developer Vanke is facing a credit pursuit clouded by demands for collateral amid a liquidity crisis. Vanke received a RMB1.4bn government loan for 14 years to repay debts. The company's onshore bond prices rose after signing a loan contract with Industrial Bank.
People's Daily: China's property market will require close monitoring by policymakers, and if there is no marked improvement, stronger efforts to mitigate the credit risks of developers and facilitation of potential debt restructuring will be required." https://t.co/NOuPnvOvUm
China #Vanke's onshore bond prices rose on Wednesday. Today, a subsidiary of China Vanke announced that it has signed a 1.4 billion yuan loan contract with a term of 14 years with Industrial Bank, a step towards avoiding default.
China Vanke, one of the biggest homebuilders just received a RMB1.4bn government loan for 14 years to repay its local debts...
What's next for China's distressed property developers, including Evergrande? Experts weigh in on the risks and opportunities for investors at Bloomberg's China Credit Forum. Follow our live blog for updates. https://t.co/DZgBkP69hQ
China’s property-debt crisis has entered a new stage https://t.co/nKb7s26icU
China’s real estate collapse is sinking projects beyond its borders. https://t.co/HaIghpR4VW
Chinese developer Vanke's credit pursuit clouded by clamour for collateral https://t.co/uAfxeKORfe https://t.co/SlBrShNbuP
⚠️ ANALYSIS-CHINESE DEVELOPER VANKE'S CREDIT PURSUIT CLOUDED BY CLAMOUR FOR COLLATERAL Full Story → https://t.co/69mtdlAUhk A rare Beijing directive to help Vanke beat a liquidity crisis has left lenders scrabbling for the assets that the state-backed developer has proposed… https://t.co/AO2soWxFJc