Guangdong issues GBA bond

Guangdong has for the first time issued bonds dedicated to building the Greater Bay Area, with RMB17.514 billion of its latest issuance earmarked for GBA projects.

Funds raised from the bond, listed on the Shenzhen Stock Exchange, will be mainly used for land reserves and infrastructure construction in the nine GBA cities within Guangdong.

The tranche includes for the first time a series of varying maturities, at 10 years, 15 years and 20 years, to suit the long-term capital needs of GBA projects. Rates were set at 3.38% for five years, 3.60% for 7 years, 3.57% for 10 years, 3.88% for 15 years and 3.91% for 20 years.

Read more (in Chinese).