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Bond Market News
Vanke’s Dollar Bonds Drop Sharply on Debt Worries
March 5, 2024
Dollar bonds of China Vanke dropped by over 5-6 points after reports emerged that the developer is facing debt struggles upon supposedly negotiating with lenders to delay payments. Besides, at least two Chinese insurance companies are said to have told their external portfolio manager to closely monitor Vanke’s credit risks with one of them even telling its pension managers to reduce exposure to the company. Vanke is among the largest developers in China and these concerns come at a time when the property market is still reeling under a crisis.
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