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.
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.
Property developer China Vanke secures $383 million loan from Shenzhen Metro
China Vanke (OTCPK: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.
China Vanke secures US$383 million lifeline from Shenzhen Metro Group to repay debt
Vanke will provide assets of up to 4 billion yuan as collateral to Shenzhen Metro Group via an 18 per cent stake transfer in its property management unit Onewo. The loan facility,
Moody's downgrades China Vanke further as liquidity concerns deepen
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Rare China support shows Vanke may be too big to fail
China Vanke has been thrown a lifeline by state authorities, a rare show of support that signals the developer may be too big ...
China Vanke's shares jump on fresh state support, management reshuffle
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Vanke Bonds Rebound From Lows as Focus Shifts to Local Note
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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 ...
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China's Vanke in Talks to Sell Logistics Firm Stake to GIC, Source Says
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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 ...