China Vanke Proposes Extending Grace Periods for Onshore Bonds Totalling 5.7 Billion Yuan
State-backed developer China Vanke proposes a 90-day extension on 5.7 billion yuan in bond debt. Bondholders will vote on competing restructuring plans soon.
Insights:
State-backed property developer China Vanke Co Ltd has proposed extending the grace periods for two onshore bond repayments by 90 trading days as it works to avoid a debt default in CN 
CN. The proposal covers bonds totalling 5.7 billion yuan that originally matured on December 15 and December 28. If approved, the current grace periods, which are scheduled to end on January 28 and February 10, would be moved to April 29 and May 14 respectively.
CN. The proposal covers bonds totalling 5.7 billion yuan that originally matured on December 15 and December 28. If approved, the current grace periods, which are scheduled to end on January 28 and February 10, would be moved to April 29 and May 14 respectively.
