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Bond Financing By Private Property Developers To Recover-Times

CHINA PRESS
MNI (Singapore)

The bond financing channels for private property developers are gradually recovering, with more developers planning to issue bonds aided by credit enhancement support from China Bond Insurance, the Securities Times reported, citing industry insiders. Private developers’ difficulty when it comes to issuing bonds overseas has further aggravated repayment pressures, while promoting their bond financing with a full guarantee from credit enhancement firms will help improve cash flows and boost market confidence, the newspaper noted, citing an unnamed insider. On Tuesday, the first fully-guaranteed private developer bond was issued by Chongqing Longhu Enterprise Development, totaling CNY1.5 billion, with the company aiming to repurchase or repay overseas dollar bonds, the newspaper said.

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