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Local Govs To Issue Over CNY1 Trillion Bonds In Q4

CHINA PRESS
MNI (Singapore)

Local governments will likely issue over CNY1 trillion in bonds in Q4, as about CNY400 billion of the special bond quota remains, while authorities may continue to increase issuance of special refinancing bonds to swap out implicit debts. There are 17 provinces that have disclosed their refinancing plans totaling CNY726 billion as of Oct 13, with the scale exceeding market expectations reflecting great capital demand, according to Feng Lin, analyst at Golden Credit Rating. Wind Information shows up to CNY3.5 trillion infrastructure project-backed special bonds were issued as of Oct 19. (Source: Securities Daily)

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