Changsha, Lanzhou LGFVs end busy week with a bang

Bond Market 1
By Addison Gong
08 Nov 2019

Chinese local government financing vehicles (LGFVs) Changsha Pilot Investment Holdings Group Co and Lanzhou Construction Investment (Holding) Group Co rode the recent positive sentiment in the sector, raising a combined $650m from dollar bonds.

Changsha Pilot came to the market ahead of the upcoming maturity of its $350m debut in the dollar bond market in early December. The LGFV raised exactly that amount from the Thursday deal, pricing three year notes at a yield of 3.8% after initial price guidance at ...

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