Ministry of Railways Said to be Planning Private Placement

(Beijing) – China's Ministry of Railways plans to issue 5 billion yuan in debt through private placement over the next two years in a bid to replenish its exhausted funds.

According to an announcement on August 18 by the China Association of Financial Market Institutional Investors, the first batch of the ministry's debt will be issued within six months, and Bank of China and Industrial Commercial Bank of China will act as the lead underwriters.