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<CN Home>CHINA VANKE Adjusts RMB2B Medium-term Note Extension Plan, May Extend Grace Period by 30 Days
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CHINA VANKE (02202.HK) previously announced plans to seek an extension from creditors for the principal and interest payable on a RMB2 billion domestic medium-term note. The notes had matured this Monday (15th). Shanghai Pudong Development Bank (SPD Bank), the convener of the holders' meeting, announced that another meeting will be held tomorrow (18th) to deliberate on adjusting the principal and interest repayment arrangements and extending the grace period. CHINA VANKE still needs approval from at least 90% of the holders to pass the new proposal. The proposal also suggests extending the grace period for principal and interest payments during the term of the medium-term note from 5 business days to 30 trading days, meaning the adjusted grace period will expire on 28 January 2026. CHINA VANKE's H-shares opened 0.8% higher this morning (17th) before its gains moderately expanded during the morning session. Near midday, the stock last closed at $3.64, up 1.4%, with a turnover of $101 million. CHINA VANKE's A-shares closed at RMB4.93 at midday, down 0.8%. AAStocks Financial News Website: www.aastocks.com |
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