Vanke secures RMB 6.249bn loan from Shenzhen Metro

China Vanke has announced a new loan agreement with its major shareholder, Shenzhen Metro Group, for up to RMB 6.249 billion to repay principal and interest on publicly issued bonds. Existing loans of RMB 890 million will be extended. Vanke will also provide a share pledge in China Vanke Service Co. Ltd. shares valued at RMB 2.216 billion to secure an existing RMB 1.551 billion loan.