<div id="readability-page-1"><div> China Vanke will seek bondholder approval to extend repayment of a 3.7 billion yuan onshore bond due Dec. 28 (CN102282785=), a filing from Shanghai Clearing House showed on Friday. A bondholder meeting for this note is set to take place on Dec. 22.The move came after the once largest developer was reported to seek a one-year extension of a 2 billion yuan onshore bond due on Dec. 15 for the first time.Meanwhile, Vanke said it will not exercise the issuer redemption option on a separate onshore bond due January 2028 (CN149358=SZ) and will keep the coupon unchanged at 3.98% for the remaining two years, according to a filing.The seven-year 2028 note has an outstanding balance of 1.1 billion yuan and carries an issuer call at the end of year five, a coupon reset option and an investor put.Separately, the company said it will no longer engage local rating agencies China Lianhe Credit Rating and China Chengxin International Credit Rating to assess its corporate credit and related bond issues, citing its own needs and current business conditions, according to public filings.This week, rating agency S&amp;P cut the developer's rating to CCC- from CCC, while Fitch downgraded some notes issued by the developer. </div></div>

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China Vanke seeks bondholder approval to extend repayment of a 3.7 billion yuan bond due Dec. 28, following a similar extension request for a 2 billion yuan bond. Vanke will not exercise the redemption option on a separate bond due 2028, keeping the coupon at 3.98%. The company will stop using local rating agencies for credit assessments, amid recent downgrades by S&P and Fitch.

China Vanke seeks second onshore bond extension, skips call on separate 2028 note