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<CN Home>CHINA VANKE Proposes 4 Debt Restructuring Plans for RMB3.7B Debt Extension
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CHINA VANKE (02202.HK) has released a summary of proposals for the first bondholders’ meeting of the Fifth Tranche of its 2022 Medium-Term Notes due 2026. The outstanding balance of the notes is RMB3.7 billion, and the meeting is scheduled for next Wednesday (January 21) at 3 pm. Facing mounting debt maturities, CHINA VANKE put forward four special proposals at this meeting, offering bondholders a range of options from full extension to partial repayment. On the key issue of principal repayment, the proposals vary widely. Proposal 1 seeks a basic "12-month full extension", while Proposal 3 suggests "40% principal repayment + 60% extension for one year". Proposal 4 takes a more moderate approach, proposing an initial 5% principal repayment to create breathing room. Both Proposal 2 and Proposal 4 request to extend the grace period for principal and interest payments from 30 trading days to 90 trading days, in order to mitigate short-term default risks. AAStocks Financial News |
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