Offshore debt markets are fast emerging as alternative financing channels for local government financing vehicles and infrastructure companies.

Till date, at least five mainland-based LGFVs and infrastructure companies have sold a combined $3 billion worth of bonds in overseas markets. Four of these are first-time issuers, information compiled by China Daily showed.

The latest sale was by Anhui Transportation Holding Group Co, which made its debut on dollar bond market on June 4 by selling $300 million notes.