On June 6, 2024, the company will deposit all relevant payments into the designated bank account of the agent bank to fully repay the principal and interest of the matured notes. It is worth mentioning that Vanke has recently added two new development projects. Both projects are located in Shenyang, with Vanke's equity ratio at 51%. The equity land price that needs to be paid is 248 million yuan.
On June 5th, Caixin reported that Vanke will fulfill the upcoming payment of a USD bond as scheduled.
On March 7, 2019, Vanke's wholly-owned subsidiary, Vanke Real Estate (Hong Kong) Co., Ltd., released an announcement on the Hong Kong Stock Exchange regarding the issuance of $600 million of 4.2% medium-term notes (ISIN: XS1958532829) due in 2024. The bonds will be due on June 7, 2024.
As of June 5, 2024, the principal amount of the note that has not been repaid, together with the interest accumulated up to the maturity date, totaling USD 612.6 million has been fully remitted to the overseas bank account of Vanke Real Estate (Hong Kong) Co., Ltd.
"On June 6, 2024, the company will deposit all the relevant funds into the designated bank account of the agent bank to fully pay the principal and interest of the matured notes." Vanke said.
It is understood that after Vanke has paid off the USD bond, it will have paid off its three USD bonds this year.
Recently, Vanke has made significant progress on the financing side. On May 23, it was reported that Vanke had signed an agreement with top financial institutions such as CM Bank to obtain a syndicated loan of RMB 20 billion, with Vanke Wei Logistics' stocks worth RMB 10 billion pledged. So far, the company has received RMB 10 billion.
Vanke said that the RMB 20 billion syndicated loan will help the company further enhance its liquidity, reflecting the strong support of financial institutions such as CM Bank.
Industry analysts believe that this is the largest single consortium loan provided by financial institutions to real estate companies since 2020.
In addition, on May 13, Vanke announced that it had applied for a total of RMB 7.339 billion in loans from Bank of China, Agricultural Bank of China, and Bank of Beijing. On May 16, Vanke also successfully issued a CMBS (Commercial Mortgage-Backed Securities) with a scale of RMB 1.435 billion at the Shenzhen Stock Exchange, further reducing its overall financing costs. On May 20, Vanke obtained another RMB 1.2 billion loan from Bank of China.
Meanwhile, Vanke is implementing a 'slimming plan'.
According to information announced by the Shenzhen Public Resources Trading Center on May 27, the land use right of Shenzhen Bay Super Headquarters T208-0053 transferred by Vanke was jointly won by Shenzhen Metro and Shenzhen Baishuo Yinghai at the listing price of RMB 2.235 billion.
"This transaction is one of the measures of the company's landing slimming and fitness package plan." said Vanke to reporters regarding the land transfer.
It is worth mentioning that Vanke has recently added two development projects.
According to information disclosed by Vanke, since the April 2024 sales briefing, the company has not added any new logistics real estate projects, but has added two new development projects. The information shows that both projects are located in Shenyang, with Vanke's equity ratio of 51%, and the equity land price it is required to pay is RMB 248 million.
In terms of sales, in May 2024, Vanke achieved a contracted sales area of 1.871 million square meters and sales of RMB 23.33 billion; from January to May 2024, the company accumulated sales area of 7.425 million square meters and sales of RMB 102.21 billion.