China Vanke to redeem "20 Vanke 08" corporate bonds early

China Vanke Company Limited will exercise its redemption option for the "20 Vanke 08" corporate bonds, leading to the full redemption of all registered bonds. The redemption registration date and last trading day for these bonds are November 12, 2025, with redemption funds expected to arrive by November 13, 2025. This will also be the delisting date. The redemption price is set at yuan 104.11 per bond, inclusive of current interest and tax.

The bonds, issued on November 13, 2020, had a seven-year term, with the fifth year’s interest payment date being November 13, 2025. The current coupon rate is 4.11%. Bondholders will receive interest accrued from November 13, 2024, to November 12, 2025. For every 10 bonds (par value yuan 1,000), a total of yuan 41.10 (pre-tax) in interest will be distributed. Individual and securities investment fund bondholders will receive yuan 32.88 after tax per 10 bonds, while non-resident enterprises, including QFII and RQFII, will receive the full yuan 41.10.

According to the terms, the issuer had the right to redeem the bonds at the end of the fifth year of their term. Following the company’s decision to exercise this option, all "20 Vanke 08" bonds registered as of the redemption registration date will be redeemed. Investors are advised to be aware of potential investment risks.