China LGFVs: government support back in question after default

Qinghai Provincial Investment Group has once again put state support for Chinese local government financing vehicles (LGFVs) under the microscope, after reportedly missing a coupon payment at the end of last week.

  • By Addison Gong
  • 25 Feb 2019

The company was unable to pay a coupon that was due on Friday (February 22) because of insufficient funds, according to Bloomberg. The bond in question was a $300m 7.25% February 2020 deal from two years ago, the LGFV’s international debut

Qinghai Investment was not available for comment ...

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