China Vanke gets $383 million loan from state shareholder
Cash-strapped China Vanke said its major shareholder, state-owned Shenzhen Metro, is giving it a 2.8 billion yuan ($383.12 million) loan, in a sign the government is stepping up efforts to stabilise the property developer.
Property developer China Vanke secures $383 million loan from Shenzhen Metro
China Vanke (CHVKF) has secured a 2.8 billion yuan ($383.12 million) loan from its major shareholder, state-owned Shenzhen Metro to repay debt, indicating further support from the government for the cash-strapped developer.
Vanke Gets $383 Million Loan From State Backer for Debt
China Vanke Co. won more support from authorities as its largest state shareholder agreed to provide up to 2.8 billion yuan ($383 million) to help the struggling developer repay outstanding debt.
China Vanke secures US$383 million lifeline from Shenzhen Metro Group to repay debt
Shenzhen Metro Group, which holds a 27.2 per cent stake, signed a three-year agreement with Vanke to provide secured loans of up to 2.8 billion yuan (US$383 million), according to a filing to the Hong Kong stock exchange late on Monday.
China Vanke Secures Cheap Loan From State-Owned Shareholder
The Shenzhen-based company said in a filing late Monday that it received the loan from Shenzhen Metro Group, which is a state-owned subway operator in one of the biggest cities in China. The loan was at interest rate of 2.34%, below China's one-year loan prime rate at 3.1%.
Vanke Gets $383 Million Loan From State Owner for Debt Repayment
China Vanke Co. won more support from authorities as its largest state shareholder agreed to provide up to 2.8 billion yuan ($383 million) to help the struggling developer repay outstanding debt.
China Vanke's shares jump on fresh state support, management reshuffle
A management reshuffle at China Vanke that reinforced government support sent the developer's shares higher on Tuesday, as ...
China Vanke's CEO, Chairman Resign as $6.2 Billion Forecast Loss Deepens Concerns
(Reuters) - Indebted property developer China Vanke said on Monday its chairman Yu Liang and chief executive Zhu Jiusheng applied to resign from their positions, amid intensifying worries over the ...
RTHK News14d
China Vanke issues profit warning, CEO resigns
Property developer China Vanke on Monday said its chairman Yu Liang and CEO Zhu Jiusheng had resigned, amid concerns over the company's liquidity as ...
Rare China support shows Vanke may be too big to fail
China Vanke Co. has been thrown a lifeline by state authorities, a rare show of support that signals the developer may be too ...
China Vanke Bonds Jump After Plan to Redeem Early $138 Million Onshore Notes
Vanke's announcement boosted investor confidence on its ability to repay its near-term financial debt, including a 3 billion yuan onshore bond due on Monday. Unlike the redemption of the 2027 notes, ...
U.S. News & World Report26d
China Vanke CEO's Reported Detention Deepens Property Sector Concerns
China Vanke CEO's Reported Detention Deepens Property Sector Concerns By Clare Jim and Donny Kwok HONG KONG (Reuters) -The future of developer China Vanke and its $45 billion in debt were in focus ...
Rare China support shows developer Vanke may be too big to fail
China Vanke Co has received a lifeline by state authorities, a rare show of support that signals the developer is too big to ...
Shenzhen government tightens control over Vanke with management changes, document shows
The government in the Chinese city of Shenzhen has made 10 new management appointments at China Vanke , according to an ...