China’s Vanke bonds fall as concerns for state-backed real estate firm grow Reuters

LONDON (Reuters) – Dollar bonds of state-backed Chinese property giant China Vanke extended a streak of steep declines on Wednesday as concerns continued to weigh on its fate amid an ongoing crisis of confidence in this sector.

Tradeweb data showed two of Vanke’s main bonds due at the end of 2027 and 2029 fell 2.9 cents and 3.7 cents to 44 cents and 40 cents respectively.

That equates to a discount of at least 60% from their face value and compares to the 72 cents and 66 cents they were trading at in mid-May, respectively.