(Reuters) – Real estate developer China Vanke told some investors on Wednesday that it has no plans to roll over its bonds amid a market selloff, financial news outlet REDD reported, citing two people briefed by the company on the matter.
The news agency said on Thursday that investors were briefed on the matter following online rumors that China Vanke was considering a bond extension.
However, the real estate developer did not clarify whether it has prepared funds to repay debt due this quarter, the REDD+ initiative said.
China Vanke did not immediately respond to a Reuters request for comment.
China Vanke highlighted its reliance on operating cash flow and asset sales to obtain financing, with proceeds from several transactions signed last year beginning to be realized, the report said.
Funds from asset sales will be used to support debt repayments, the report said.
