Sichuan SOE to offer debut CNH bond with standby loan
Sichuan Development Holding, a Chinese local state-owned enterprise (SOE) wholly owned by the Sichuan government, is set to offer a CNH bond with multiple credit enhancements in what will be the first of its kind in the offshore market. Since the new format needs no issuing quota from China's National Development and Reform Commission (NDRC), bankers reckon it might provide an easier way for other local SOEs to fund from the international market.
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