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Vanke Faces $4.9bn in Potential Debt Payments in 2025
January 10, 2025
China Vanke faces about $4.9bn in local and offshore maturities/redemption options in 2025. This is the highest ever annual repayment due for Vanke, and also the most for any Chinese developer this year. Bloomberg notes that the dues also amount to more than half of its outstanding public debt. Some analysts have said that Vanke needs to secure new financing to avoid public debt defaults, noting that the market may not have priced-in the same. Vanke’s dollar bonds have traded lower since the start of the year (as seen in the chart below).
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