Vanke says Shenzhen Metro agrees to provide up to 2.5b yuan in 2026 loan framework agreement

China Vanke (2202), a state-backed property developer battling liquidity stress, said on Tuesday it entered into the 2026 Loan Framework Agreement with its biggest shareholder, Shenzhen Metro Group, according to a stock exchange filing. 

• Vanke said Shenzhen Metro Group agreed to provide the loan in an aggregate principal amount of up to 2.5 billion yuan (US$368.08 million) under the agreement.
• It will be used for repaying the principal and interest on the company's publicly issued bonds, as well as interest on specific borrowings approved by Shenzhen Metro Group.
• The initial term for each loan shall not exceed three years but can be extended with Shenzhen Metro's consent, Vanke said.
• To date, loans totalling 2.359 billion yuan have already been drawn under this facility, the filing showed.
• The agreement adds to earlier financial support Vanke received, including a 22 billion-yuan loan framework announced with Shenzhen Metro in November 2025.
• Separately, Vanke and Shenzhen Metro on Tuesday signed a supplemental agreement to the 22 billion-yuan loan framework to add new security and collateral terms, another filing showed.

Reuters

 

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