Vanke to redeem two corporate bond tranches early

Vanke Co., Ltd. has announced the exercise of redemption options for two tranches of its corporate bonds: "22 Vanke 07" and "20 Vanke 08." The "22 Vanke 07" bonds will be redeemed at a price of yuan 103.45 per bond, including current interest, with the redemption registration date set for October 30, 2025. Funds are expected to arrive by October 31, 2025, also the delisting date. The total bond outstanding for "22 Vanke 07" is yuan 2.5 bn, with an annual coupon rate of 3.45%.

Similarly, the "20 Vanke 08" bonds will be redeemed at yuan 104.11 per bond, including current interest. For this tranche, the redemption registration date is November 12, 2025, with funds arriving and delisting occurring on November 13, 2025. The outstanding amount for "20 Vanke 08" is yuan 1.6 bn, with a current annual coupon rate of 4.11%. Both redemptions will cover 100% of the outstanding bonds.

Individual investors are subject to a 20% income tax on interest income, while non-resident enterprises are exempt from corporate income tax and value-added tax on bond interest income until December 31, 2025. China Securities Depository and Clearing Corporation Limited Shenzhen Branch will handle the principal and interest payments for both bond tranches.