China Vanke (02202.HK) announced that, to meet the operational needs, it has applied for two loans from banks, totaling 1.085 billion RMB (same below). The company stated that it has applied for loans of 0.585 billion RMB and 0.5 billion RMB from Bank of Communications Shenzhen Branch and Postal Savings Bank of China Shenzhen Branch respectively, with a term of three years. The loan from Postal Savings Bank of China has already withdrawn 0.2 billion RMB.

The company stated that the two loans are guaranteed by its subsidiaries, Zhengzhou China Vanke Enterprise and Zibo Wanjia Real Estate, using their respective assets. (vc/k)

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