Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<CN Home>CHINA VANKE Approved to Extend Grace Period for RMB3.7B Medium-term Notes; Extension Proposal Not Passed
Recommend 4 Positive 5 Negative 4 |
||||
|
||||
|
CHINA VANKE (02202.HK) announced the results of the first holders' meeting for the 2022 Fifth Medium-term Notes (22 Vanke MTN005). The proposal to extend the grace period has been approved, extending the grace period for principal and interest payment dates during the term of these medium-term notes from 5 business days to 30 trading days, i.e. the grace period will expire on February 10, 2026. Vanke emphasized that it engages in open communication and negotiation with all parties at this stage, study and improve measures, and continue to seek solutions for this bond to safeguard the long-term common interests of all parties. However, the proposal to adjust the principal and interest payment arrangements for the medium-term notes, as well as the proposal to adjust the principal and interest payment arrangements and increase corresponding credit enhancement measures, were both rejected by 96.81% of votes. Additionally, three other proposals for additional investor-acceptable credit enhancement measures and conditional adjustment of principal and interest payment arrangements for the medium-term notes were also not passed, meaning Vanke's earlier extension proposal has not been approved by the creditors. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
