Wuhan Metro seals landmark green deal for LGFVs

By Morgan Davis
29 Nov 2018

Wuhan Metro Group Co’s debut green bond on Wednesday was a landmark for China’s local government financing vehicles (LGFVs), as the company pulled off a $400m perpetual transaction.

The A3/—/A rated issuer’s perpetual non-call three year notes were the first dollar perp sold by an LGFV — a notable feat in a market that has not been too friendly to perpetual trades this year. 

Fortunately for Wuhan Metro, the negative sentiment around the structure has improved in ...

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