Vanke Seeks to Delay Second Onshore Bond as Crisis Grows

China Vanke Co. proposed delaying repayment of a second local bond, in the latest signal of mounting liquidity challenges for the embattled state-backed builder.

Vanke, once China’s top homebuilder by sales, asked bondholders to accept a plan to delay paying a 3.7 billion yuan ($520 million) note due on Dec. 28, according to a filing to the Shanghai Clearing House Friday. The company plans to arrange a meeting with bondholders on Dec. 22 to discuss the proposal.