China 2nd Largest Property Developer China Vanke to Stop Paying Dividends & Reduce $13.8 billion of $45 Billion Interest-Bearing Debt Over Next 2 Years
30th March 2024 | Hong Kong
China 2nd largest property developer China Vanke has announced to stop paying dividends and to reduce $13.8 billion of $45 billion interest-bearing debt over the next 2 years. In March 2024, 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. 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.
“ China 2nd Largest Property Developer China Vanke to Stop Paying Dividends & Reduce $13.8 billion of $45 Billion Interest-Bearing Debt Over Next 2 Years “
China 2nd Largest Property Developer China Vanke Received $194 Million 14-Year Loan from Industrial Bank to Repay Existing Debts, $630 Million Bond Due on 11th March 2024, 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
23rd March 2024 – China 2nd largest property developer China Vanke has received $194 million 14-year loan from Industrial Bank to repay existing debts, with $630 million bond due on 11th March 2024. In March 2024, 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. 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
14th March 2024 – 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 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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