Yunnan Energy adds senior perp to LGFV bonds

By Alice Huang
14 Aug 2020

Yunnan Provincial Energy Investment Group Co added a dash of variety to bond supply from China’s local government financing vehicles, by selling a $300m dual-tranche deal that combined a senior unsecured portion with an unsubordinated perpetual.

Chinese LGFVs have been busy in the dollar market in recent weeks. Since the beginning of August, four LGFVs raised a combined $1.2bn before Thursday’s trade from Yunnan Energy.

Yunnan Energy bagged $300m to meet the refinancing needs of a $300m 3.75% note due in November. The ...

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