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Bond Market News
Vanke Secures $127mn Loan from Shenzhen Metro Group
July 31, 2025
China Vanke has entered into an agreement with its substantial shareholder, Shenzhen Metro Group. where the latter will provide a loan of up to RMB 869mn ($127mn). The loan is secured by collateral valued at up to RMB 1.3bn ($191mn), including investment properties and equity interests in subsidiaries. The loan term extends till July 2028, with provisions for early repayment or extension by mutual agreement. This transaction is expected to enhance China Vanke’s financial flexibility and strengthen operational capabilities amid ongoing debt challenges, sources say.
Earlier this year, Shenzhen Metro Group extended significant loans to Vanke, including RMB 4.2bn ($578mn) in January and RMB 2.8bn ($383mn) in February. Shenzhen holds ~27.18% of total issued share capital of Vanke.
Vanke’s 3.5% 2029s are trading stable at 73.06, yielding 11.68%.
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