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Thematic (Sector/Industry)

China Real estate / Thematic (Sector/Industry)

Zunyi Road And Bridge Construction Group (0584191D CH)

<ul><li>A troubled local government financing vehicle (LGFV) located in Guizhou, one of China’s most indebted provinces, has secured approval from banks to delay repayment.</li><li>Since 2021, Zunyi Road and Bridge has been impacted by the prolonged nationwide housing crisis.</li><li>As of June 2022, the LGFV had accrued 45.9 billion yuan in interest-bearing debts, of which 14.1 billion yuan were due within a year.</li></ul>

A troubled local government financing vehicle (LGFV) located in Guizhou, one of China’s most indebted provinces, has secured approval from banks to delay repayment.Since 2021, Zunyi Road and Bridge has been impacted by the prolonged nationwide housing crisis.As of June 2022, the LGFV had accrued 45.9 billion yuan in interest-bearing debts, of which 14.1 billion yuan were due within a year.

Debt-Plagued Local Financing Vehicle in China Gets ‘Unprecedented’ Extension to Repay Loans