Vanke Meets Bondholders Under Threat of Default in Just Days
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000China Vanke Co. will meet Thursday with holders of a bond it’s trying to delay paying, with only four days until a grace period ends that could trigger a once-unthinkable default in the absence of an agreement to buy more time. The last major builder to avoid default amid China’s unprecedented property crisis, Vanke will convene the online meeting from 10 a.m. local time. The firm will discuss its latest proposals as creditors weigh options in a vote that runs until Monday on the 2 billion yuan ($284 million) note, which is now in a grace period ending that day. If by then there’s no payment or agreement to extend it, holders could call default.