SHANGHAI - Onshore bonds issued by troubled Chinese property developer Vanke fell sharply again on Friday with some hitting record lows, after the company sought to delay an onshore bond repayment for the first time.

A yuan bond issued by China Vanke due in March 2027 plunged 22.5% to a record low of 31 per 100 par value, triggering a suspension of trade by the Shenzhen Stock Exchange. It had traded at 85 on Monday.

Three other Vanke yuan bonds also dropped 20% or more on Friday, causing trade in them to be suspended.

Vanke bonds and stocks have been tumbling this week, initially sparked by a media report that the state-backed developer might face a debt restructuring.

Vanke then announced on Wednesday that it was seeking bondholder approval to delay the repayment of a 2 billion yuan ($280 million) onshore bond due on Dec. 15.

Its Hong Kong-listed shares fell nearly 2% to a record low, while its Shenzhen-listed stock declined more than 3% to its lowest since 2008.

(Reporting by Shanghai Newsroom; Editing by Edwina Gibbs)