May 07, 2024 01:46 PM
China Builder Vanke Tells Investors It’s Readied Money to Pay Bond
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Vanke has another offshore bond due this year, a $600 million bond that will mature on June 7. Photo: VCG
(Bloomberg) — One of China’s most-watched developers has told some investors that it readied cash for an upcoming yuan bond payment, a move that may boost a firm that’s faced concern about its liquidity amid a broader property debt crisis.
State-backed builder China Vanke Co. Ltd. told some investors recently that it has readied cash to repay its 1.45 billion yuan ($201 million) note due May 25, according to people familiar with the matter.
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