(Yicai) June 6 -- China Vanke said the real estate giant will pay a dollar bond due tomorrow, which will be its third and last offshore debt maturing this year.

Vanke will pay the principal and interest on the medium-term notes, amounting to about USD610 million, thanks to unobstructed financing channels, the Shenzhen-based developer said late yesterday.

The USD600 million bond, carrying a 4.2 percent coupon, was sold in Hong Kong in March 2019.

Vanke's domestic bank financing channels remain open. It received a CNY20 billion (USD2.8 billion) loan facility from a syndicate that includes China Merchants Bank on May 23, making it the biggest single loan extended to a Chinese property developer since 2020.

In the five months ended May 31, Vanke’s contracted sales fell 39 percent from a year earlier to CNY102.2 billion (USD14.1 billion), placing it third in the industry. Its contracted sales area was 7.43 million square meters.

Thirty-three developers had sales of more than CNY10 billion in China in the same period, and averaged about CNY37 billion, according to data from the China Index Academy. Vanke ranked third behind Poly Developments & Holdings Group and China Overseas Land & Investment.

Vanke's shares [SHE: 000002] closed 1.1 percent lower at CNY8.02 (USD1.11) apiece today, after swinging between a gain of 2.3 percent and a loss of 2.2 percent. The benchmark Shenzhen Component Index came off 0.6 percent.

Editor: Martin Kadiev