While the resilience of local-government financing vehicle bonds has helped it trade at a lower yield than similarly rated corporate securities, that gap is starting to be eroded. The discount for five-year AA+ LGFV notes narrowed 6 basis points from a record high of 32 basis points in January. Total borrowing by 29 of China’s provinces surged to 16.2 trillion yuan at the end of last year, up 53 percent from 2013, according to a March 22 Bloomberg Intelligence report.
Casino Mooted for Country Garden Malaysia Project and More Asia Real Estate
Headlines
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Malaysia’s prime minister is hoping to persuade some patriotic tycoons to
open a casino in Johor to revive an ill-fated Country Garden project, with
that...
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