China Vanke Co. Ltd. said June 11 that it will issue corporate bonds amounting up to 8.00 billion yuan for qualified investors.

It will complete the issuance within 12 months of receiving China Securities Regulatory Commission approval.

The Chinese developer earlier received approval from its shareholders to issue not more than 35.00 billion yuan of bonds.

China Vanke also recently completed an issuance of 2.00 billion yuan of 4.6% short-term bonds between June 4 and June 5.

As of June 12, US$1 was equivalent to 6.40 Chinese yuan.