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China Vanke is preparing an RMB130bn ($18bn) asset package to be used as collateral as it seeks new bank loans, according to sources. The company did not disclose any details about the asset package or sales in its exchange filing. Yesterday, it was reported that company had organized a meeting on Sunday where it informed investors that it was making plans to resolve its liquidity issues. Vanke has been hit by several rumors and controversies recently, one being the travel ban imposed on its executives. According to S&P, as of end-2023 Vanke had accessible cash of RMB 36.3bn ($5bn) and the company faces a maturity wall in 2025 with RMB 36.2bn ($5bn) of debt coming due.
Vanke’s 4.2% 2024 traded stable at 92.7 cents on the dollar
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