Vanke proposed to extend the principal repayment of the medium-term notes by 12 months and to provide corresponding credit enhancement measures by the issuer

On December 16th, Vanke published a summary of the proposal regarding the second bondholder meeting for the fourth phase of the 2022 medium-term notes of China Vanke Co., Ltd. at the Shanghai Clearing House. The proposal includes requests to waive the relevant time limits for convening and holding this bondholder meeting; adjustments to the principal and interest payment arrangements for the medium-term notes; and an extension of the grace period for this phase of medium-term notes. It is mentioned that the proposed extension for the principal repayment date of this phase of medium-term notes is 12 months, with the adjusted repayment date being December 15, 2026. The full principal of this phase of medium-term notes will be repaid on December 15, 2026. It is also proposed that the interest payable of 60 million yuan due on December 15, 2025, for this phase of medium-term notes will be paid within the grace period, specifically by December 22, 2025. The unpaid principal during the grace period will accrue interest at a rate of 3.00%, and unpaid interest will not accrue compound interest. The coupon rate for this phase of medium-term notes will remain unchanged during the extension period, at 3.00%, and the newly accrued interest during the extension period will be paid together with the principal repayment, meaning interest will be settled with the principal. The extension of this phase of medium-term notes will be supported by corresponding credit enhancement measures provided by the issuer. Jiemian News Risk Warning and Disclaimer The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment based on this is at their own risk