China Vanke Co (HKG:2202, SHE:000002) said it entered into a loan framework agreement with its largest shareholder, Shenzhen Metro Group, for financing of up to 22 billion yuan between 2025 and June 2026, according to a Sunday Hong Kong bourse filing.

The facility covers both existing unsecured loans and new secured loans to be executed under definitive agreements. Drawdowns may be made in multiple tranches, each with a term of up to three years.

Vanke will provide collateral, including operating properties, fixed assets, inventories, and equity interests, with loan-to-value ratios ranging from 50% to 70% depending on the asset type.

The collateral is estimated to represent about 2.6% to 3.7% of the group's total assets, the filing said.

Shenzhen Metro reserves the right to demand immediate repayment of principal and interest if Vanke fails to provide the required collateral for any drawn loans, the filing added.