Vanke Bond's 144% Rally Shows Credit Strain Easing After Rescue
Financial strains are easing at China Vanke Co. after its largest state shareholder threw a lifeline to the company that proved too big to fail.
Since local government officials intervened in January to stabilize Vanke's operations and finances, the builder has repaid publicly-traded bonds with a combined principal of 14.4 billion yuan ($2 billion). That included a 3.15% dollar bond with $423 million outstanding which matured on May 12, its only such note of the year, Bloomberg reported.
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