China Mulls $6.8 Billion Funding Plan To Help Vanke Repay Debt

Reuters
02-12

Feb 12 (Reuters) - Chinese authorities are exploring a plan to help China Vanke plug a funding gap of about 50 billion yuan ($6.84 billion) this year, which will aid the property developer to repay its public and private debt, Bloomberg News reported on Wednesday.

As part of the proposal, regulators will allocate 20 billion yuan in special local government bonds to buy unsold properties and vacant land from Vanke, the report added, citing people familiar with the matter.

Vanke and its affiliates will also be allowed to tap other financing sources including new bond sales and bank loans for debt payments, Bloomberg said, adding that details of the plan could still change.

Shares of the company, which is grappling with a liquidity crisis and sluggish sales due to China's ailing property sector, rose more than 16% in Hong Kong trading. Country Garden also up 8.8%, Sunac up 20%, Shimao up 16%. Fangdd up 21% and Ke Holdings up 7% in overnight trading.

China Vanke said in a statement it will "go all out" to raise funds through operations and financing for the public bond obligations due in 2025. It also said it would continue to accelerate asset sales and exit its non-core businesses for the repayments.

($1 = 7.3084 Chinese yuan renminbi)

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10