China Vanke confirms funds prepared to repay $201m bond due May 25 amid Chinese property market liquidity concerns.
China Vanke, a state-backed property developer, has moved to reassure investors by confirming it has prepared funds to repay a $201 million bond due on May 25, amid concerns over liquidity within the Chinese property market. The company is also seeking to boost cash flow by exiting non-core operations and selling assets. However, its longer-term bonds remain below 60 cents on the dollar, indicating possible distress.
May 06, 2024
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