China Vanke (HKG:2202, SHE:000002) is seeking to extend certain domestic bank loans by up to 10 years to ease liquidity pressure, Bloomberg reported Wednesday, citing people familiar with the matter.
The Shenzhen-based developer has submitted a preliminary proposal to major Chinese banks in recent weeks.
Some lenders are still assessing the request, while others are awaiting regulatory guidance before proceeding, the report said.
Such long-term extensions could give the company breathing room on its repayment obligations, Bloomberg said.
Vanke, battered by China's prolonged property downturn, recently warned its first-half loss could swell to as much as $1.67 billion.
Early this month, Vanke said it would apply for another loan of as much as 6.25 billion yuan from Shenzhen Metro, the report added.
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