Corrected: LGFV woes continue as Shangrao unexpectedly pulls deal

By Addison Gong
11 Dec 2019

Shangrao Investment Holding Group Co tried to brave the market with a three year bond on Tuesday despite a volatile start to the week for local government financing vehicles (LGFVs), but it ended up pulling the dollar transaction.

Following a call with investors on Monday, global co-ordinators Central Wealth Securities Investment, CNCB Capital, GF Securities and Standard Chartered set initial price guidance for Shangrao Investment's three year bond at the 4.25% area on Tuesday morning local time.

Bank of China, BoCom International, CCB International, China Securities ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial