Vanke maintains 3.98% coupon rate for "21 Vanke 02" bond

Vanke Co. Ltd. confirmed it will not adjust the coupon rate for its "21 Vanke 02" bond (code: 149358) for the remaining two years. The coupon rate will stay at 3.98% from January 22, 2026, to January 21, 2028, a decision based on current market conditions as outlined in the bond's prospectus.

Bondholders can exercise a put option to sell all or part of their bonds back to Vanke at a face value of CNY 100 per bond (excluding interest). The registration period for this option runs from December 9, 2025, to December 15, 2025, with put proceeds distributed on January 22, 2026. Investors who do not register will continue to hold their bonds.

The company does not plan to remarket any repurchased bonds. For investors exercising the put option, bonds will accrue interest at 3.98% from January 22, 2025, to January 21, 2026, equating to an interest payment of CNY 39.80 per 10 bonds (pre-tax).