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Developers Get More Credit Enhancement For Bond Issues - Times

CHINA PRESS
MNI (Singapore)

Several private property developers including Longfor and Country Garden are promoting their second round of bond issuance with credit enhancement by China Bond Insurance Co Ltd, sending a positive signal about the stability of bond financing channels for private developers, the Securities Times reported. China Bond Insurance has promoted more than 10 credit enhancement to help developers raise CNY8.37 billion in bond sales, driving a total of CNY15.5 billion of debt financing, the newspaper said. This should encourage commercial banks and other financial institutions to restore loans and investments in private developers, the newspaper said.

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