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vanke: apply for a loan of 4.8 billion yuan from icbc, with a total external guarantee of 96.158 billion yuan

2024-09-10

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on september 9, vanke co., ltd.vanke a, 000002.sz) issued an announcement on the new guarantees due to financing and the progress of existing guarantees.

the announcement shows that in order to meet operational needs, vanke applied for a loan from a bank, and vanke's holding subsidiaries provided guarantees for the relevant loans by providing pledges, mortgages or credit guarantees.

in terms of new guarantees, the announcement shows that vanke provided the industrial and commercial bank of china limited, shenzhen luohu branch (hereinafter referred to as "icbc”) applied for a loan of rmb 4.8 billion for a period of three years. rmb 2.6 billion has been withdrawn so far, and vanke may withdraw the funds in due course based on the actual business situation. shenzhen vanke fifth park real estate co., ltd., a holding subsidiary of vanke, provided a joint and several liability credit guarantee.

after this guarantee occurs, the total amount of vanke's external guarantees will be 96.158 billion yuan, accounting for 38.34% of vanke's audited net assets attributable to shareholders of listed companies at the end of 2023.

in addition, vanke disclosed the progress of its existing guarantees, showing that in july this year, vanke provided a guarantee to the shenzhen branch of bank of communications co., ltd. (hereinafter referred to asbank of communications”) signed a general credit agreement and obtained a credit line of rmb 5.736 billion. vanke, as the principal debtor, and its holding subsidiary beijing zhonglian mingzhu cultural investment co., ltd. (hereinafter referred to as “beijing zhonglian mingzhu”) and other companies as co-borrowers respectively borrowed a total of rmb 5.736 billion from bank of communications, with a term of 15 years. vanke’s holding subsidiaries provided guarantees for this loan by pledging the equity of the project company held or pledging the project assets. the announcement shows that vanke can withdraw funds based on the actual business situation, and has currently withdrawn rmb 5.578 billion.

as of the close of september 9, vanke a was priced at 6.37 yuan per share, down 1.55%.