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Vanke Group plans 2.5 billion yuan sale

The property services arm of developer China Vanke is set to launch the largest IPO in Hong Kong this year.
China Vanke's chairman said the recovery had been helped by easing measures from the central and local governments, and partly boosted by pent-up demand following months of coronavirus pandemic-related restrictions. File photo: AFP.

(ATF) – Vanke Enterprise is to issue a public offering of corporate bonds to qualified investors this year, with 2.5 billion yuan (US$361 billion) sold in two tranches.

The first, a five-year security with an anticipated coupon of 2.60%-3.60%, will be sold with an early redemption option at the end of the third year, an option to adjust the coupon and an investor resale clause. The bond code is 149056. 

Another bond, a seven-year note with a 3%-4% coupon will bear a five-year early redemption option and clauses to adjust the coupon and for investors to sell the debt back to the issuer. The bond code is 149057, 

Chris Gill

With over 30 years reporting on China, Gill offers a daily digest of what is happening in the PRC.


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