Cai Jing Wang·2025-12-15 03:07Core Viewpoint - Vanke's bond extension proposal for "22 Vanke MTN004" has not been approved by creditors, leading the company to invoke its grace period rights and continue seeking a solution [1] Group 1: Bond Details - The bond "22 Vanke MTN004" has a total outstanding amount of 2 billion yuan and a coupon rate of 3.00% [1] - The original maturity date for the bond was set for December 15, 2025, with a proposal to extend the principal repayment by 12 months to December 15, 2026 [1][2] Group 2: Voting Results - Proposal one, which was Vanke's extension plan, received no support, with 16 opposing holders representing 15,340,000 effective voting rights, accounting for 76.70% of the total [2][3] - Proposal two gained support from 7 holders, totaling 16,680,000 effective voting rights, or 83.40%, while 11 opposed it with 3,210,000 rights, representing 16.05% [2][3] - Proposal three received support from one institution with 3,790,000 effective voting rights, or 18.95%, while 16 opposed it with 15,340,000 rights, again accounting for 76.70% [3] Group 3: Special Proposal Requirements - According to regulations, any special proposals regarding principal and interest payments must be approved by holders representing over 90% of the total voting rights, which none of the proposals achieved [3]