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Bond Market News
Vanke Sweetens Terms of its Debt Extension Plan
December 16, 2025
China Vanke offered creditors better terms on its request to delay payment on a local bond after creditors rejected its initial proposal. Vanke told bondholders it could pay the RMB 60mn ($8.5mn) interest on the RMB 2bn ($284mn) bond due December 15 before December 22 and sought to extend the grace period from 5 to 30 trading days. The company added that it was also planning to add credit enhancements to the extended bond, without providing further details, though the principal payment would still be delayed by 12 months, as per reports. The company plans to hold a noteholder meeting on Thursday to discuss the revised proposal.
Vanke’s dollar bonds continue to trade at distressed levels of 22-23 cents on the dollar.
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