GLP gets green light to issue onshore Belt & Road bonds in China

SINGAPORE (Jan 5): Global Logistic Properties (GLP) has received approval from the China Securities Regulatory Commission (CSRC) to issue up to RMB 12 billion ($2.46 billion) of RMB-denominated ‘Belt & Road’ (B&R) bonds on the Shenzhen Stock Exchange.

B&R bonds are used to finance projects related to China’s One Belt One Road (OBOR) initiative, which seeks to connect Asia and Europe over land and sea.

In a Friday announcement, GLP says it plans to issue the bonds in multiple tranches, depending on its financing needs and market conditions.

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