Gansu bags LGFV bond after Trump's stunning victory

Market turbulence resulting from Trump's surprise victory fails to knock Chinese local government financing vehicle off course as it attracts $2 billion in demand for debut US dollar bond.

Ray Chan

November 10, 2016

Gansu Provincial Highway Aviation Tourism Investment Group, a BBB-/BBB- rated local government financing vehicle (LGFV), raised $500 million from a maiden international bond sale on Thursday, braving uncertain bond markets in the wake of Donald Trump's surprise victory over Hillary Clinton in the US presidential election.

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Debt
North Asia

#bonds
#investment grade
#china
#local government financing vehicles