China LGFV Can Repay Debt Despite Bond Sale Snag
A Chinese local government financing vehicle (LGFV) has assured investors it can repay 1.08 billion yuan in offshore bonds maturing next week, despite encountering difficulties with a planned refinancing bond sale. The reassurance comes as the borrower faces challenges in accessing the debt capital markets to roll over its maturing obligations.
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China LGFV Says It Can Repay Debt Even as Bond Sale Hits Snag
A Chinese local government financing vehicle (LGFV) asserted its ability to repay 1.08 billion yuan in offshore bonds maturing next week, despite encountering difficulties with a planned refinancing bond issuance. The statement aims to reassure investors following delays in the debt refinancing strategy.
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