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In fact, four existing bonded zones - Waigaoqiao Free Trade Zone, Waigaoqiao Free Trade Logistics Park, Yangshan Free Trade Port Area and Pudong Airport Free Trade Zone - will all find themselves inside the new pilot zone.
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Lower ratings can cut the value of existing bonds and raise future borrowing costs.
But the hope that it will has pushed up prices of the existing bonds.
We think we'll just hold onto the existing bonds,' " he remembered.
The Bank of England also voted to continue with its existing bond purchasing program of £275 billion ($422 billion).
Salomon has an oversupply of the principal portions of existing bonds but a shortage of the interest-rate portion.
He does not anticipate rising interest rates — which would hurt existing bond holders — for a couple of years.
Only one small part of the vast underground garage -- the only part financed under the existing bonds -- is being built.
In late October and in November, the Argentine Government reopened two existing bond issues to raise $250 million and $300 million.
Private sector creditors will swap or roll over 135 billion euros of existing bonds into new, longer-term instruments.
The city has the option to buy Battery Park City for $1, although this would require some complicated arrangements over existing bonds.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com