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>3 CHINA VANKE Bondholders Reject Debt Extension Plan: Wire
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At least three investors holding CHINA VANKE (02202.HK) bonds maturing this month have indicated opposition to the plan to extend the maturity date of domestic bonds, Bloomberg quoted sources as saying. It is reported that CHINA VANKE's representatives individually contacted some bondholders over the phone yesterday (2nd), inquiring whether they would agree to the plan, and stating that the Company needs to retain cash to complete unfinished homes and deliver them to buyers. Therefore, there is little room for improvement in the terms of the plan. Representatives also revealed to some bondholders that most of the bonds are held by Chinese banks. Today (3rd), CHINA VANKE's H-shares bottomed at $3.54, and sagged 2.19% to last at $3.58, with 33.5107 million shares traded, involving $121 million. AASTOCKS Financial News Website: www.aastocks.com |
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