Fujian Zhanglong finds $500m to fill quota

By Morgan Davis
19 Aug 2019

Fujian Zhanglong Group Co skirted the market volatility last week to seal a $500m deal on Friday, using up its regulatory offshore quota.

The local government financing vehicle (LGFV) met investors during a roadshow last week to market its dollar notes. Two other LGFVs hit the market on Thursday, forcing Fujian Zhanglong to delay its planned transaction by a day, said a syndicate banker on the deal.  

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