Jiangxi LGFV whets investor appetite with green bond

By Morgan Davis
29 Nov 2019

Jiangxi Provincial Water Conservancy Investment Group Corp sold its $300m debut international bond with no new issue premium, as strong investor support allowed the Chinese company to squeeze pricing.

The local government financing vehicle (LGFV) began marketing its three year green bond at the 3.85% area on Thursday morning. The deal, which is expected to carry a Baa3 rating from Moody's and a BBB rating from Fitch, was capped at $300m, the maximum possible under the issuer's ...

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