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<Research>Citi: CHINA VANKE Bond Extension Surprises Mkt, Impacts Sector Confidence/ Home Prices in ST
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CHINA VANKE (02202.HK) intended to extend the maturity of a RMB2 billion medium-term note that is about to expire, Citi Research issued a research report saying. This marks CHINA VANKE's first attempt to seek extension of the maturity of an open-market bond. Citi Research believed that, while CHINA VANKE's bond extension is unexpected, it is somewhat inevitable. The broker also believed that this move will negatively impact industry confidence and home price expectations in the short term, but the medium- to long-term effects may be limited. Furthermore, this action may exert slight pressure on banks. AASTOCKS Financial News Website: www.aastocks.com |
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