China 2nd Largest Property Developer China Vanke Credit Rating Downgraded to Junk Status Ba1 Below Investment-Grade Rating by Moody’s Indicating Substantial Credit Risk, China Reported to Ask Banks to Support China Vanke with Financing, $630 Million Bond Due on 11th March 2024, $15.3 Billion Market Value with Share Price Decreasing -4.3% YTD, -38% Last 12 Months, -65% Last 5 Years
14th March 2024 | Hong Kong
China 2nd largest property developer China Vanke credit rating had been downgraded to junk status (Ba1) below investment-grade rating by Moody’s, indicating substantial credit risk. China had been reported to have asked banks to support China Vanke with financing. China property giant China Vanke $630 million bond was due on 11th March 2024. In February 2024, China Vanke had sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion. China Vanke current market value is at $15.3 billion (14/3/24), with share price decreasing -4.3% YTD, -38% over the last 12 months, and -65% over the last 5 years. More info below:
“ China 2nd Largest Property Developer China Vanke Credit Rating Downgraded to Junk Status Ba1 Below Investment-Grade Rating by Moody’s Indicating Substantial Credit Risk, China Reported to Ask Banks to Support China Vanke with Financing, $630 Million Bond Due on 11th March 2024, $15.3 Billion Market Value with Share Price Decreasing -4.3% YTD, -38% Last 12 Months, -65% Last 5 Years “
China Property Giant China Vanke $630 Million Bond Due on 11th March 2024, Faces Doubt from Creditors of Repayment Ability, Sold Remaining 50% of Shanghai Retail Complex Qibao Vanke Plaza to Hong Kong-Listed Link Reit for $334 Million in February 2024
10th March 2024 – China property giant China Vanke $630 million bond is due on 11th March 2024, facing doubt from creditors on China Vanke repayment ability. In February 2024, China Vanke had sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion. More info below:
China Property Giant China Vanke Sells Remaining 50% of Shanghai Retail Complex Qibao Vanke Plaza to Hong Kong-Listed Link Reit for $334 Million, Link Reit is Asia Largest Real Estate Investment Trust & Acquired 50% of Qibao Vanke Plaza from Singapore GIC in 2021
10th February 2024 – China property giant China Vanke has sold the remaining 50% of Shanghai retail complex Qibao Vanke Plaza to Hong Kong-listed Link Reit for $334 million (CNY 2.38 billion). Link Reit is Asia’s Largest Real Estate Investment Trust (REIT), and had acquired 50% of Qibao Vanke Plaza from Singapore GIC in April 2021 for CNY 2.77 billion.
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