Chinese Developer Vanke’s Bonds Plunge as Debt Concerns Grow

China Vanke Co.’s dollar and yuan bonds plunged in volatile trading, as investor worries grow about the distressed developer’s ability to repay debt.

Vanke’s 3.975% dollar bond due in 2027 saw its largest-ever one-day drop, falling as much as 14 cents to 41 cents in Tuesday afternoon trading, according to Bloomberg-compiled data.