Shenzhen Metro Group is the Chinese property giant's largest shareholder with the move coming after Vanke said it could make a loss of up to Rmb45bn in 2024.
The Hong Kong property developer secured the deal with a consortium of international, Chinese and local banks; the company cited "challenging" market conditions in mainland China and Hong Kong as 2024 profits fell 25%.
The deal marks the first facility arranged in Asia’s syndicated loan market to combine both green and sustainability-linked features, and the first such issuance by a Chinese multinational.
The region’s private credit markets are emerging as the next big opportunity for investors who are searching for higher yielding assets, and Singapore start-up, Kilde, is making a unique play for this under-tapped asset class.
Commodities trader Noble Group, under attack for the second time this year, finds support from lenders who brush aside allegations to back a $2.25 billion loan facility.