More local governments are lending a helping hand to liquidity-trapped companies.

Hunan Asset Management Co. Ltd., one of Hunan province’s state-owned asset managers, issued the province’s first special bailout bond on Monday, in an attempt to help listed or privately owned companies struggling with financing problems, according to the state-run Xinhua News Agency.

The 2 billion yuan ($298 million) non-public corporate bond is priced with a coupon of 4.5% and will mature in five years.

Since last year, multiple local governments have rolled out a slew of bailout policies, including setting up bailout funds and requiring creditors not to freeze companies’ assets, as the whole corporate sector has faced liquidity problems amid an economic slowdown.

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