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Chengdu LGFV, Qinghai Provincial’s subsidiary target different audiences

Two Chinese government-owned entities, Chengdu Communications Investment Group Corp and Qinghai Province General Aviation Group Co, priced their dollar bonds on Wednesday, but opted for very different tenors — the former a 10 year and the latter 363 days.

  • By Addison Gong
  • 07 Dec 2017

Chengdu Communications sold a relatively uncommon 10 year bond for a local government financing vehicle (LGFV) at 245bp over US Treasuries. The initial price guidance set by sole lead CICC was at the area of 275bp over.

The $300m 4.75% 2027s were priced at 99.701 or a ...

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