China LGFV Says It Can Repay Debt Even as Bond Sale Hits Snag

A Chinese local government financing vehicle said it has sufficient funds to repay 1.08 billion yuan in offshore notes due within the coming week, according to Bloomberg reporting. The statement followed a delay in a planned bond sale intended to refinance the debt, Bloomberg reported citing people familiar with the matter. The entity did not disclose additional details about its repayment timeline or alternative funding sources.

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