According to reports, Vanke plans to propose to creditors the payment of RMB 60 million in due bond interest and seeks to postpone the repayment of principal for one year

After the debt extension proposal for Vanke (02202.HK) "22 Vanke MTN004" medium-term notes was not approved, Bloomberg cited sources reporting that Vanke has offered creditors more favorable terms, including paying CNY 60 million in interest on the CNY 2 billion "22 Vanke MTN004" due on December 15 before December 22, in order to seek an extension of the grace period for the bonds from 5 working days to 30 working days, with the principal repayment postponed by 12 months.

After the debt extension proposal was not approved, Vanke stated that it would communicate and negotiate openly with all parties, study and improve measures, continue to seek solutions for the current bonds, and maintain the long-term common interests of all parties. At the same time, the company is preparing to hold a second bondholder meeting to discuss related arrangements