China Vanke secures 22 bn yuan shareholder loan, redeems bonds

China Vanke Co., Ltd. will convene its first extraordinary general meeting of shareholders for 2025 on November 20, 2025, in Shenzhen. A key agenda item for shareholder approval is a framework agreement for a shareholder loan from its largest shareholder, Shenzhen Metro Group. The agreement outlines a loan facility of up to 22 billion yuan, including existing credit and future borrowings, to be secured by Vanke’s assets. The loan terms feature an annual interest rate of 2.34% or a floating rate based on the one-year LPR minus 66 basis points, with an initial term not exceeding three years.

In related news, China Vanke announced the full redemption of its "20 Vanke 08" corporate bonds (bond code: 149297) on November 13, 2025. The redemption amount totals 1,600 million yuan in principal plus 65.76 million yuan in interest, at a redemption price of 104.11 yuan per bond. The bonds, originally issued in 2020 with a 7-year term, carried an option for the issuer to redeem after five years. Following the redemption, these bonds will be delisted from the Shenzhen Stock Exchange on November 13, 2025.