China Vanke seeks 90-day grace period extension for yuan bonds worth $817 million 

China Vanke has proposed a 90-day extension for two onshore bond repayments totaling 5.7 billion yuan ($817 million) to avoid default. The current grace periods end on January 28 and February 10, with the new proposed dates being April 29 and May 14. Bondholders will vote on the proposals from January 21-26. New proposals include a 40% principal payment upfront or a 5% principal payment with the extension. Following these developments, Vanke's onshore bonds and shares saw significant increases in value.