Vanke secures 869m yuan loan from largest shareholder

China Vanke will receive up to 869 million yuan from largest shareholder Shenzhen Metro Group at 2.34% interest, below the one-year loan prime rate. The loan is secured by investment properties, fixed assets and unlisted equity valued at up to 1.298 billion yuan.

Separately, a Vanke subsidiary secured a 300 million yuan loan from Qingdao Bank. Vanke's total external guarantees will reach 86.517 billion yuan, representing 42.69% of net assets.