Shanxi Planning to Guarantee Coal Debts

Bloomberg is reporting Shanxi is planning to directly or indirectly guarantee coal debts:
According to Bloomberg News reported that the condition of anonymity informed sources, China Shanxi provincial government initially planned for the seven provincial coal to provide direct or indirect corporate bonds secured by a letter.

Informed sources said, Shanxi Province also plans to encourage financial institutions through debt, M & A loans, customized equity products, etc., to help coal companies to restructure its debt. It also encourages enterprises through mergers and acquisitions debt, perpetual debt, mortgage debt and debt linked loans based compositions and other new financial products to raise funds.

According to informed sources, the final plan has not been determined, there may be variable.
iFeng: 外媒:山西政府计划为省内煤企债券发行提供财政增信

Elsewhere: China's Biggest Coal-Producing Province to Cut Capacity
Shanxi province, dependent on coal-related industries for 80 percent of its economy, said in a report last month that it is seeking overseas markets to absorb some of the excess supply. It proposed that the central government reduce or scrap export quotas and cut taxes. The region produced 944 million tons last year, the biggest contributor to China’s 3.68 billion tons of production and more than the entire output of the U.S., the world’s second-biggest supplier.

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