Vanke's debt will face a critical moment
Vanke is about to hold a bondholder meeting to discuss the extension of the fourth phase of the 2022 medium-term notes "22 Vanke MTN004". The bond has a remaining balance of 2 billion yuan, an interest rate of 3%, and a principal repayment date of December 15, 2025. Due to cash flow pressure, Vanke hopes to negotiate an adjustment to the repayment plan with bondholders through the meeting to avoid default. The meeting will be held on December 10, 2025, and bondholders will vote to decide whether to agree to the extension
Vanke has a bond approaching maturity and is preparing to discuss "extension" with its creditors.
On November 26, reporters learned from the official website of the National Association of Financial Market Institutional Investors that Vanke plans to hold a bondholder meeting regarding its 2022 fourth phase medium-term notes (referred to as "22 Vanke MTN004") to discuss matters related to the bond extension, in order to steadily advance the principal and interest payment work.
According to the announcement, the bond has an outstanding balance of 2 billion yuan, with an interest rate of 3% for this interest period, and the principal repayment date is December 15, 2025. This bondholder meeting is convened by Shanghai Pudong Development Bank Co., Ltd. and will be held on December 10, 2025. The meeting will review matters such as the extension of this bond in accordance with the "Regulations on Bondholder Meetings for Non-Financial Enterprise Debt Financing Instruments in the Interbank Bond Market" and relevant terms in the issuance documents.
It is reported that this medium-term note essentially represents funds raised by Vanke from institutional investors. Affected by the industry's funding situation, Vanke is currently facing cash flow pressure. To avoid bond default, it plans to negotiate a repayment plan adjustment with bondholders through this meeting, and the relevant matters will ultimately be decided by a vote of the bondholders.
In summary, the "bondholder meeting" on December 10 is crucial; if the "creditors" agree to the online meeting vote, the extension can be granted, otherwise, default may occur. 
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