China Vanke secures RMB6.249bn loan, modifies existing terms

China Vanke has announced the approval of resolutions from its board of directors, including a new shareholder loan and modifications to existing loan arrangements. Shenzhen Metro Group Co., Ltd. ("SZMC"), a major shareholder, will provide a loan of up to RMB6.249 billion to China Vanke, termed the "Shareholder's Loan I", with an interest rate tied to the 1-year Loan Prime Rate (LPR) minus 66 basis points. The loan is intended for the repayment of principal and interest on existing bonds.