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Liaoning fails to issue planned amount for 10Y local government bonds

BEIJING
2015-08-11 11:01

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Northeast China's Liaoning Province auctioned recently 400 million yuan worth of 10-year special-use bonds, below the planned auction amounts of 550 million yuan.

It is the first time that local government bond sales failed to attract sufficient bidding after the local government bond issuance was introduced this year.

The auction yield of the bonds stood at 3.99 percent, according to the province. Insiders noted that the unfavorable outcome of Liaoning's local government bonds offering may be caused by the issuer's relatively poor economic conditions.

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