China Vanke Co. is currently facing financial challenges in the midst of a property crisis and is seeking approval from lenders to modify the terms of two offshore loans.
The company has requested waivers for certain covenants associated with two loan facilities that are set to mature in December 2026. These loans include a five-year facility of HK$10.5 billion and another of HK$5.2 billion.
The discussions regarding the loan modifications are private, but sources indicate that the company is looking to navigate its financial difficulties by making changes to the existing loan agreements.