Qinghai LGFV narrowly misses default but debt woes remain

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By Addison Gong
27 Sep 2018

Qinghai Provincial Investment Group Co successfully redeemed its $300m bond this week, giving a boost to its entire secondary curve and ending months of speculation about a possible default. But its debt-related troubles are not over just yet, writes Addison Gong.

The Chinese local government financing vehicle (LGFV) is understood to have paid the principal and interest amount of the $300m 6.3% bond that was due on Wednesday, according to media reports. GlobalCapital Asia could not independently verify this information. A person close to the situation at Qinghai Investment could ...

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