China’s top banks to issue offshore loans to help developers repay debt -sources

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HONG KONG/SHANGHAI/BEIJING, Dec 2 (Reuters) - China has ordered its top four state-owned banks to issue offshore loans to help developers repay overseas debt, three people with knowledge of the matter told Reuters, in Beijing's latest support measure for the cash-starved property sector.

The regulators have given the banks 'window guidance', or verbal orders that leave no paper trail, setting a date of Dec. 10 by which to make loans secured against domestic assets, said two of the sources, who all spoke on condition of anonymity.

 
Somehow I don't understand that with $39 billion of debt set to mature in the first quarter of next year they want to loan out even MOAR money?! Howz zat work?
 
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