February 8, 2020 / 10:41 AM / 17 days ago

China to allow quality virus-hit firms to issue bonds to refinance debt

FILE PHOTO: U.S. Dollar and China Yuan notes are seen in this picture illustration June 2, 2017. REUTERS/Thomas White/Illustration

BEIJING (Reuters) - High-quality Chinese companies affected by the coronavirus outbreak will be allowed to issue bonds to refinance debts due in 2020, the country’s state planner said on Saturday.

Small firms affected by the epidemic are encouraged to issue bonds to improve their liquidity, the National Development and Reform Commission said in a statement on its website, adding companies should also sell bonds to fund virus control and prevention.

Reporting by Tom Daly and Samuel Shen; Editing by Neil Fullick

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