-- China Vanke Co (HKG:2202, SHE:000002) said shareholders approved a proposal to adjust repayment terms for its 2 billion yuan medium-term notes due April 2026, according to a Tuesday Hong Kong bourse filing.
Under the revised arrangement, consenting shareholders will receive 100,000 yuan per account at maturity, along with 40% of the principal and accrued interest.
The remaining principal will be extended by one year to April 23, 2027.
The notes carry a coupon rate of 3.11%, which will remain unchanged during the extension period, with interest to be paid together with the deferred principal.
The developer said it will provide a pledge over project receivables as credit enhancement for the extended portion.