20 Mar China Vanke secures US$194 million loan from Industrial Bank in brief respite for troubled property developer
Posted at 02:03h
in Asia
Heavily indebted China Vanke, one of China’s largest developers, said it has secured a long-term loan from a Chinese commercial bank, providing it some relief following its credit rating downgrade a week ago by Moody’s to junk status.The Shenzhen-based developer said in a statement filed...