China Vanke extends grace period for 2022 MTN principal and interest

China Vanke Co., Ltd. has extended the grace period for its 2022 Medium-Term Notes (Fourth Tranche), with an issue amount of RMB20.00 million, from 5 working days to 30 trading days. The new grace period expires on January 28, 2026. This extension, approved by holders representing 90.70% of total voting rights, means that failure to repay principal or interest during this period will not constitute a default, and no penalty interest, liquidated damages, or overdue interest will be imposed.

During this extended grace period, interest will continue to be paid at the coupon rate of 3%, with daily interest settled with the principal, and no additional interest will accrue on outstanding interest. The repayment priority of these notes will not be lower than any other bonds maturing after December 15, 2025. China Vanke has committed not to make principal payments on other bonds maturing thereafter until the outstanding principal and accrued interest of this tranche are settled.

The resolution to extend the grace period was passed during the second holders' meeting of 2025, held on December 18, 2025. The company reiterated its commitment to seeking solutions and safeguarding the interests of all parties.