May 26 (Reuters) - Property developer China Vanke Co, is seeking to extend four onshore bonds by one year, offering to repay 40% of principal upfront, sources told Reuters on Tuesday.
The bonds in question are two 2 billion yuan medium-term notes , with 3.07% coupons each, due on June 15 and July 7, respectively.
A bondholder meeting is scheduled for June 5, with a voting deadline on June 9.
Two corporate bonds due or puttable in July , are also subject to the same proposal, sources said.
The sources declined to be named as they were not authorised to speak to media.
Vanke did not immediately respond to a request for comment.
In January, Vanke won investor approval to extend three yuan bonds under similar terms.
Reporting by Reuters staff Editing by Bernadette Baum
Source: Reuters