July 6, 2024
Loans

China Vanke units guarantee US$1.1 billion in loans for troubled developer after Fitch Ratings downgrade

Troubled property developer China Vanke will receive a 7.8 billion yuan (US$1.1 billion) lifeline in the form of bank loans guaranteed by its subsidiaries, a day after the company had its credit rating cut. Shenzhen Yili Real Estate Development provided a guarantee for a 4.49 billion yuan loan, while Shenzhen Zhongke Wanxin Industrial offered a

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