Bonds News
- Vanke shareholders approve bond sale
Date: 18-Sep-2007 Sources: (Shenzhen Daily)
CHINA Vanke Co., the country's top property developer by market value, said yesterday its shareholders have approved a plan to issue up to 5.9 billion yuan (US$780.42 million) worth of bonds.
The Shenzhen-listed company said earlier that the bonds will have maturities of 3-7 years. About 1.5 billion yuan of the proceeds will be used to pay down bank loans and the rest will be used to supplement working capital, it said. No further details were provided.
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