Following in the footsteps of Beijing and Shaanxi, Tianjin has now become the latest region to opt for early debt repayment. According to public records, Beijing, Shaanxi, and Tianjin have all issued official announcements regarding early bond redemptions as of now.

Recently, the Tianjin Municipal Finance Bureau released a notice on the early repayment of a portion of Tianjin municipal government bonds, planning to settle 409 million yuan in face value for the 42nd batch of Tianjin special bonds issued in 2020. The repayment corresponds to the construction project supporting the Tianjin Juilliard School campus, with funds sourced from net proceeds of land sales in the surrounding area.

Back in May 2020, Tianjin issued the aforementioned special bonds, totaling 1.389 billion yuan with a 30-year term and a coupon rate of 3.77%. Of that amount, 880 million yuan was allocated to the Tianjin Juilliard School campus support project, which encompasses the construction of the teaching building, ancillary parking garage, riverside park, and surrounding environmental enhancements.