China Vanke is seeking to extend the grace period for a 2 billion yuan bond repayment, originally due December 15, by an additional 90 trading days. The developer also proposed a one-year deferral, using project receivables as credit enhancements, and paying overdue interest by the grace period’s end. Approval would push the expiration to April 29.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets