Vanke Sweetens Terms of Bond Plan in Bid to Win Creditor Support

China Vanke Co. unveiled a revised bond-extension proposal for creditors to vote on, as the distressed developer makes another attempt to gain support for a plan to avert default.

Holders of a 2 billion yuan ($284 million) security that matured Dec. 15 will be able to cast votes on the proposal until 10 a.m. local time on Dec. 22, the day an initial grace period on the bond ends, according to a filing to the Shanghai Clearing House.

Vanke, the last major developer to avoid debt failure amid China’s property crisis, originally proposed to delay both principal and interest payments ...