Caixin
FINANCE

First 'Belt and Road' Asset-Backed Security Gets Go-Ahead

China's first "Belt and Road" asset-backed security (ABS) has won approval from the Shanghai Stock Exchange in a sign of support for China's ambitious international investment and trade initiative.

The approval broadens the types of bonds that can be used to finance Belt and Road projects.

The issuer of the 5.5 billion yuan ($867.1 million) security, pulp and paper producer Sinar Mas Paper (China) Investment Co. Ltd., hired Sinolink Securities Co. Ltd. to underwrite the bond, according to an announcement released on Friday by the brokerage firm.

ladingImg
You've accessed an article available only to subscribers
Try 4 weeks for $0.99
SUBSCRIBE
Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.