China Vanke announced that holders of its 2023 second-tranche medium-term notes (23 Vanke MTN002) have approved changes to the bond’s principal and interest payment schedule, with 99.95% of the valid voting rights cast in favour of the proposal at the 6 May 2026 virtual meeting convened by Agricultural Bank of China.

Under the approved terms, each consenting holder will receive a fixed redemption of RMB100,000 (per account) on the original maturity date of 12 May 2026. On the same date, the company will repay 40% of the outstanding RMB2.00 billion principal—net of the fixed redemption—together with accrued interest at the original 3.10% coupon.

The remaining 60% of principal will be extended for one year, with repayment scheduled for 12 May 2027. The coupon will remain unchanged at 3.10% during the extension period, and interest will be settled alongside the deferred principal at maturity. To enhance credit protection, China Vanke has committed to pledge accounts receivable from a project company as collateral.

Of the 38 accounts represented at the meeting, 37 (holding 19.99 million voting rights) supported the proposal, one account (0.01 million voting rights) abstained, and none opposed. The resolution exceeded the 90% approval threshold required under the Regulations for Holders’ Meetings of Non-Financial Enterprise Debt Financing Instruments in the Interbank Bond Market and is now effective.

China Vanke stated it will continue to meet all information-disclosure obligations throughout the bond’s term in line with National Association of Financial Market Institutional Investors (NAFMII) rules.