China Vanke Co. secured a 519 million yuan ($76.7 million) loan from its largest shareholder to cover impending obligations on two domestic bonds, completing its initial round of extensions for all public debt maturing in 2026.
The latest liquidity support highlights the mounting pressure on the state-backed developer as it seeks to avoid a broader restructuring. The piecemeal bond extensions are proving resource-intensive, while government support remains limited.
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