China Vanke secures US$383 million lifeline from Shenzhen Metro Group to repay debt

Quick Summary:

The developer is transferring an 18 per cent stake in its property management unit Onewo as collateral.

The arrangement “fully reflects Shenzhen Metro Group’s support for the company”, Vanke said, adding that it “would be the most effective way to raise funds for the group”.

The loans would be repaid on a quarterly basis.

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Article Details

Author / Journalist: Yulu Ao

Category: Business

Markets: Hong KongChina

Topics: Cent Vanke Repay Support China Secured Management Metro Stake Group Shenzhen

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-11 @ 12:32:25 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 196 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 26140872

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