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<CN Home>CN Regulators Said to Meet CHINA VANKE Bondholders Regarding Extension Plan
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CHINA VANKE (02202.HK)'s bondholders met with Chinese regulators last Sunday (7th), and were asked to comment on a proposal to extend the maturity of a RMB2 billion bond due on 15 December by one year, Bloomberg quoted sources as saying. Creditors have expressed concerns about the plan, and warned that CHINA VANKE's default could trigger systemic risks, given the Company's very close ties to Shenzhen. Regulators reportedly requested bondholders to understand CHINA VANKE's current financial distress, and hinted that there is limited room for improvement in the current extension plan. This news has disappointed many bondholders, with at least three expressing opposition to the extension plan. CHINA VANKE will hold a bondholder meeting this Wednesday (10th) to review the extension proposal. AASTOCKS Financial News Website: www.aastocks.com |
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