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Vanka's balance sheet illustrates its mounting debt, which has skyrocketed from $450 million in 2005 to nearly $50 billion by 2024. In the bond market, investor confidence has plummeted, with Vanka's bonds trading for less than 40 cents on the dollar before a recent bailout scheme was announced.
Several bond repayments are scheduled throughout 2024, signaling enormous pressure on Vanka to meet its financial obligations even as it struggles to remain solvent.