Sichuan to Borrow $1.76 Billion to Inject Into 21 Small Banks
Sichuan to Borrow $1.76 Billion to Inject Into 21 Small Banks Sichuan will issue 11.4 billion yuan of 10-year SPBs at a coupon rate of 3.5% to recapitalize 21 banks. Sichuan province joined a line of local governments to issue special-purpose bonds (SPBs) to raise money for recapitalizing cash-strapped small and midsize banks. But how the government will collect repayment was left vague in some cases. The southwestern Chinese province will issue 11.4 billion yuan ($1.76 billion) of 10-year SPBs at a coupon rate of 3.5%, the provincial finance department said. Some small and midsize banks, esp...
Source: caixinglobal.com