Securitisation comes to China’s water sector
- From: Vol 7, Issue 8 (August 2006)
- Category: General
- Region: Asia
- Country: China
- Related Companies: Donghai Securities, Shanghai Far East Credit Rating Co and Shanghai Pudong Development Bank
Nanjing has issued the first asset-backed security in the water sector. What is the deal?
China Securities Regulatory Commission has approved the first securitisation of a wastewater utility’s revenues in China. The RMB721 million ($90 million) investment certificates will be issued by the Nanjing Urban Construction Group and will become the first asset-backed security based on revenues from municipal public infrastructure. In the event of default, the bond holders will have rights to the ...
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