China Vanke's (SHE:000002, HKG:2202) units applied for loans from China Merchants Bank (HKG:3968, SHA:600036), with equities as guarantees for the loans.
The first unit, Shenzhen Wanwei Logistics Investment, applied for a 10-year bank loan of 515 million yuan, according to a Shenzhen Stock Exchange filing on Jan. 3.
Another subsidiary of the property developer, Shenzhen Youxinda Supply Chain Group, provided an equity pledge guarantee of 88.89% of its shares for the loan.
Moreover, China Vanke's unit, Ningbo Wanwei Cold Chain Logistics, applied for a 12-year loan of 174 million yuan, with another subsidiary, Shenzhen Wanshen Cold Chain Logistics, providing a pledge guarantee of 100% of Ningbo Wanwei Cold Chain's Equity, the filing said.
China Vanke's Hong Kong shares rose less than 2% in recent trade.
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