China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

EuromoneyFXNews.com

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May 2006

Debt capital markets: Morgan Stanley makes big comeback

by Felix Salmon

US bank is surprising frontrunner in league tables.


Dhanda: pitching hard
A few eyebrows were raised when Dealogic’s first quarter league tables for Latin America were released. The top debt underwriter turned out to be Morgan Stanley – a house many banks had all but written off a year ago.

The ranking was mainly thanks to Morgan Stanley’s position as co-lead on the $3 billion liability management transaction for Mexico in March, alongside Goldman Sachs. But Goldman only came third in...


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