/raid1/www/Hosts/bankrupt/TCRAP_Public/201013.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
A S I A P A C I F I C
Tuesday, October 13, 2020, Vol. 23, No. 205
Headlines
A U S T R A L I A
FROSTERMAN PTY: First Creditors' Meeting Set for Oct. 20
GENERA BIOSYSTEMS: Second Creditors' Meeting Set for Oct. 21
MILESTONE ALUMINIUM: First Creditors' Meeting Set for Oct. 20
SWEET INDIA: Second Creditors' Meeting Set for Oct. 20
T.M. LEWIN: Second Creditors' Meeting Set for Oct. 19
[*] AUSTRALIA: Up to 25% of SMEs at Risk of Insolvency, RBA Says
C H I N A
FOSUN INTERNATIONAL: S&P Rates Proposed U.S. Dollar Notes 'BB'
JIANGSU ZHONGNAN: S&P Upgrades ICR to 'B+', Outlook Stable
SINIC HOLDINGS: Fitch Assigns B+ Rating to New USD Sr. Notes
I N D I A
AGARWAL CHEM: ICRA Keeps B Debt Ratings in Not Cooperating
AMRAPALI SMART: CARE Keeps D Debt Rating in Not Cooperating
APEX CONSTRUCTIONS: ICRA Keeps B+ Debt Rating in Not Cooperating
BATTULAL RADHEY: CARE Keeps C Debt Rating in Not Cooperating
C.P ISPAT: CARE Keeps D Debt Rating in Not Cooperating Category
C.P SPONGE: CARE Keeps D Debt Rating in Not Cooperating Category
EXOTIC GRANITE: ICRA Keeps B Debt Ratings in Not Cooperating
FUTURE ENTERPRISES: CARE Lowers Rating on INR327cr NCD to D
HOUSING DEVELOPMENT: CBI Files Fresh Case Against Wadhawans
KANDAGIRI SPINNING: CARE Keeps D Debt Ratings in Not Cooperating
KISHAN GUM: ICRA Keeps B Debt Ratings in Not Cooperating Category
KKB PROJECTS: ICRA Lowers Rating on INR13cr LT Loan to B+
KRISHNA GEMS: ICRA Lowers Rating on INR7.20cr Loan to B+
LOTUS OVERSEAS: ICRA Keeps B+ Debt Ratings in Not Cooperating
MINI DIAMONDS: ICRA Withdraws D Ratings on INR9.0cr Loans
MINOX METAL: ICRA Lowers Rating on INR45.50cr LT Loan to B+
NANDAGUDI OILS: CARE Lowers Rating on INR10cr LT Loan to C
RAMESHWAR COTTEX: ICRA Keeps D Debt Ratings in Not Cooperating
RELIANCE NAVAL: NCLAT Directs Excluding Lockdown Phase in CIRP
ROYALICA TILES: ICRA Keeps B/A4 Debt Rating in Not Cooperating
SHAH TILES: ICRA Keeps B+ Debt Ratings in Not Cooperating
SHIV SHAKTI: ICRA Keeps B+ Debt Ratings in Not Cooperating
SURYA OIL: ICRA Keeps B+ Debt Ratings in Not Cooperating Category
TEZALPATTY TEA: CARE Keeps D Debt Rating in Not Cooperating
ULTRA HOME: CARE Keeps D Debt Ratings in Not Cooperating Category
UNIWORLD SUGARS: CARE Keeps D Debt Rating in Not Cooperating
URVESH PSYLLIUM: ICRA Cuts Rating on INR11.40cr LT Loan to B+
VAIJANATH INDUSTRIES: CARE Keeps D Debt Ratings in Not Cooperating
VANSHIKA SUGAR: ICRA Keeps B+ Debt Ratings in Not Cooperating
VIJAY STONE: ICRA Keeps B+ Debt Ratings in Not Cooperating
I N D O N E S I A
INDIKA ENERGY: Fitch Assigns BB- Rating to Proposed USD Notes
N E P A L
RAM SUGAR: Cane Farmers Demand Payment of Outstanding Dues
P H I L I P P I N E S
MALASIQUI PROGRESSIVE: Insurance Claims Deadline Set for Oct. 16
S I N G A P O R E
HYFLUX: Asks Utico to Address Concerns Raised by Creditor Groups
SUNMOON FOOD: Shares Slump Amid Parent's Bankruptcy Woes
X X X X X X X X
[*] BOND PRICING: For the Week Oct. 5, 2020 to Oct. 9, 2020
- - - - -
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A U S T R A L I A
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FROSTERMAN PTY: First Creditors' Meeting Set for Oct. 20
--------------------------------------------------------
A first meeting of the creditors in the proceedings of Frosterman
Pty Ltd, trading as Frostpine, will be held on Oct. 20, 2020, at
11:00 a.m. at the offices of Condon Associates, Level 6, 87 Marsden
Street, in Parramatta, NSW.
Schon Gregory Condon of Condon Associates was appointed as
administrator of Frosterman Pty on Oct. 8, 2020.
GENERA BIOSYSTEMS: Second Creditors' Meeting Set for Oct. 21
------------------------------------------------------------
A second meeting of creditors in the proceedings of Genera
Biosystems Limited has been set for Oct. 21, 2020, at 2:00 p.m. at
Level 1, 255 Mary Street, in Richmond, Victoria.
The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.
Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by Oct. 20, 2020, at 4:00 p.m.
Stephen Dixon and Richard Rohrt of Hamilton Murphy were appointed
as administrators of Genera Biosystems on May 21, 2020.
MILESTONE ALUMINIUM: First Creditors' Meeting Set for Oct. 20
-------------------------------------------------------------
A first meeting of the creditors in the proceedings of Milestone
Aluminium and Glass Pty Ltd will be held on Oct. 20, 2020, at 10:00
a.m. via virtual meeting.
Bruce Gleeson and Daniel Robert Soire of Jones Partners were
appointed as administrators of Milestone Aluminium on Oct. 8,
2020.
SWEET INDIA: Second Creditors' Meeting Set for Oct. 20
------------------------------------------------------
A second meeting of creditors in the proceedings of Sweet India Pty
Ltd has been set for Oct. 20, 2020, at 10:30 a.m. via electronic
means.
The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.
Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by Oct. 19, 2020, at 5:00 p.m.
Peter Goodin of Magnetic Insolvency was appointed as administrator
of Sweet India on Sept. 15, 2020.
T.M. LEWIN: Second Creditors' Meeting Set for Oct. 19
-----------------------------------------------------
A second meeting of creditors in the proceedings of T.M. Lewin
Australia Pty Ltd has been set for Oct. 19, 2020, at 3:00 p.m. via
teleconference.
The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.
Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by Oct. 16, 2020, at 12:00 p.m.
Stewart McCallum, Adam Nikitins and Colby O'Brien of Ernst & Young
were appointed as administrators of T.M. Lewin on July 1, 2020.
[*] AUSTRALIA: Up to 25% of SMEs at Risk of Insolvency, RBA Says
----------------------------------------------------------------
Stephanie Palmer-Derrien at SmartCompany reports that Treasurer
Josh Frydenberg has admitted that some businesses will not survive
the COVID-19 pandemic.
However, while Mr. Frydenberg couldn't put a figure on just how
many would fail, the Reserve Bank of Australia (RBA) has said small
businesses will be disproportionately affected, with up to 25% at
risk of insolvency, SmartCompany relates.
Small businesses in hard-hit sectors are in a particularly
precarious position, the RBA suggested in its Financial Stability
Review for October 2020, SmartCompany says.
In fact, between 10% and 15% of SMEs in the worst-affected
industries still don't have enough cash on hand to meet their
monthly expenses, even with government support measures in place.
But, when asked on ABC's Insiders on Oct. 11 whether the JobKeeper
wage subsidy scheme would be continued beyond March next year, Mr.
Frydenberg dismissed the idea, according to SmartCompany.
"It's only legislated until the end of March, and that is the
plan," the report quotes Mr. Frydenberg as saying. "It was always
temporary and it was always targeted."
Rather, he said the government is focusing on the ‘next phase' of
the creating jobs, even if that means a spate of small business
failures, the report relays.
Currently, there are about 900,000 businesses making use of the
JobKeeper program, SmartCompany notes.
When asked how many of those businesses would not survive without
it, come March, Mr. Frydenberg said these are not numbers he was
keeping an eye on.
"Treasury doesn't actually calculate the number of businesses that
will be created or the number of businesses that will close," he
said.
"You can't see any one program in isolation," he added.
"Some business will not survive and obviously some jobs will be
lost.
"There will be businesses that will fold, there is no doubt about
that, and we can't save every business and we can't save every
job."
SmartCompany relates that the Treasurer said the government is
"focused on is giving every business and every job the best
possible chance of getting to the other side".
However, he went on to suggest there will be "a restructure" in the
Australian economy.
The JobKeeper program has some "adverse incentives", which could
become more pronounced as the COVID-19 recovery goes on, he
suggested.
"Namely, it prevents the reallocation of workers to more productive
roles across the economy," he said.
According to SmartCompany, Mr. Frydenberg may not have the numbers,
but the Reserve Bank of Australia has predicted a wave of business
insolvencies to come, suggesting up to 25% of small businesses
would fail if subsidies were removed today, before the improvement
of trading conditions.
In the Financial Stability Review, the RBA acknowledged that we
can't predict the future. But, ultimately, it said there will be an
uptick in insolvencies, SmartCompany relates.
"Business failures will increase, although there is a high degree
of uncertainty about the magnitude and timing," it said.
"It will depend on the strength of the economic recovery, which
will be influenced by the duration and severity of future
COVID-19-related disruptions, and the timing and extent of the
unwinding of the various support measures.
"Bankruptcies and insolvencies are currently very low because of
the income support, loan repayment deferrals and temporary
insolvency relief," it added.
And, small businesses are set to be disproportionately affected,
the report relays.
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C H I N A
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FOSUN INTERNATIONAL: S&P Rates Proposed U.S. Dollar Notes 'BB'
--------------------------------------------------------------
S&P Global Ratings assigned its 'BB' long-term issue rating to the
proposed U.S. dollar-denominated senior unsecured notes that
China-based Fosun International Ltd. will unconditionally and
irrevocably guarantee. Fortune Star (BVI) Ltd., a special purpose
entity, will issue the notes. The rating is subject to our review
of the final issuance documentation.
The rating on the notes is the same as the issuer credit rating on
Fosun (BB/Negative/--) because of credit substitution under the
guarantee. As an investment holding company, Fosun's secured debt
at the parent level is less than 50% of the total debt at the
parent level. Hence, it does not breach our 50% notching-down
threshold for structural subordination risk.
Fosun will use the proceeds from the proposed notes for
refinancing, working capital, and other general corporate
purposes.
S&P said, "The negative outlook reflects our expectation that
Fosun's debt maturity profile will remain short in the next 12
months as the company seeks to push out its maturity schedule by
accessing longer-term debt capital. We may lower the ratings if
Fosun fails to lengthen its weighted average maturity from the
current 1.5 years or if the company's cash sources over cash uses
decline below 1.2x. We could also lower the ratings if Fosun's
loan-to-value ratio exceeds 45% because of an increase in the
company's risk appetite (as indicated by acquisitions outpacing
disposals) or a significant decline in the value of its listed
assets."
JIANGSU ZHONGNAN: S&P Upgrades ICR to 'B+', Outlook Stable
----------------------------------------------------------
On Oct. 9, 2020, S&P Global Ratings raised its long-term issuer
credit rating on Jiangsu Zhongnan Construction Group Co. Ltd.'s
(Zhongnan) to 'B+' from 'B', and its long-term issue rating on the
company's outstanding senior unsecured notes to 'B' from 'B-'.
The stable outlook reflects S&P's view that Zhongnan will continue
to expand while controlling its leverage through stable revenue
growth and profitability.
S&P said, "We raised the ratings because we believe Zhongnan's
robust contracted sales growth, with a focus on the Yangtze River
Delta (YRD), will enable it to further substantially improve its
financial leverage over the next 12-24 months. We also expect the
company to be committed to controlling land spending and debt
expansion, partly due to tightening funding conditions for China's
developers.
"Despite good execution and growth, Zhongnan continues to be very
geographically concentrated. We do not believe the company can
penetrate into other regions or higher tier cities in the next
several years. Around 50% of Zhongnan's total land reserve by gross
floor area (GFA) as of June 2020 is from the YRD region, which
contributes to more than 60% of the company's total land investment
since 2019. In addition, the company's EBITDA margin is
historically one of the lowest among its peers', and we don't
expect material improvement over the next two years. These factors,
in our view, are the key rating constraints for the company.
"We expect Zhongnan's EBITDA margin to remain relatively low at
18%-19% in 2020-2021 for two reasons. First, more than 40% of the
company's land spending since 2018 is in leading tier-two cities,
with the rest mostly in upper tier-three cities in YRD, which
resulted in much higher land costs than previous years. At the same
time, most of these cities (such as Nantong, Ningbo, Xi'an, and
Suzhou) are subject to government-imposed property price caps.
Second, the company's exposure to the construction business will
continue to be a drag on the company's EBITDA margin. The
construction business has a gross profit margin of around 10% and
makes up around 30% of the company's total revenue.
"We believe that Zhongnan is proactively deleveraging in
anticipation of further tightening of funding conditions. We
forecast Zhongnan to spend 35%-40% of total contracted sales in
land replenishment in the next 12-24 months, around the same level
compared with 2019, much lower than 47% and 65% in 2018 and 2017,
respectively. This level supports a gradual deleveraging of the
company. In 2019, the company deleveraged faster than we expected,
with consolidated the debt-to-EBITDA ratio having improved to 6.0x
versus our previous expectation of 6.6x. We expect it to further
improve to 5.5x-6.0x in 2020.
"We believe Zhongnan's overall "see-through" leverage will be even
lower if we incorporate the company's off-balance sheet joint
ventures, which make up 40%-50% of its sales. These projects tend
to have higher EBITDA margins because of land cost savings with
partnerships in land bidding. Some of the partners are local
developers that require Zhongnan, as the more creditworthy partner,
to provide third-party guarantees. As of interim 2020, such
guarantees amounted to Chinese renminbi (RMB) 12.7 billion and were
factored into our adjusted debt.
"We estimate the company's 2019 see-through debt-to-EBITDA ratio to
be around 5.6x. We anticipate the see-through ratio to be 5.0x-5.5x
in 2020, lower than that on a consolidated basis of 5.5x-6.0x, and
better than most peers'." Its lower see-through and consolidated
leverage versus peers' is captured in a one-notch uplift in the
comparable ratings analysis modifier.
Zhongnan has strong market knowledge and expertise in the YRD
region, which is more resilient to market demand post the pandemic.
It also has proven execution capability in tier-three cities like
Nantong and Ningbo. These support its 10%-15% year-on-year
contracted sales growth in 2020, compared with a robust 43%
compounded growth in the past three years.
S&P therefore expects revenue growth to maintain at around 30% in
2020, and to slow to 15%-20% in 2021. Zhongnan's business
operations will likely recover from the slowdown in construction
and operations in the first half of 2020, given that most of the
RMB350 billion of saleable resource will be launched in the second
half of the year. During the first eight months of 2020, Zhongnan's
total contracted sales grew by about 8% to RMB119 billion amid the
pandemic, with a cash collection ratio of about 85%.
The company has sought to improve its operating scale and gradually
its geographic diversification, with 418 projects across 109 cities
nationwide as of June 2020. The improving scale contributes to
Zhongnan's position as one of the country's top-20 developers. S&P
believes Zhongnan's scale is now comparable with peers such as
Jinke Property Group Co. Ltd. and Ronshine China Holdings Ltd.
S&P said, "In our view, Zhongnan will maintain a relatively
balanced capital structure. The company reduced its nonbank
financing exposure to 23% of its total reported debt as of June 30,
2020, from 30% as of June 30, 2019, mainly through repaying higher
cost trust financing and increasing onshore direct financing. Its
weighted-average debt maturity also improved to 2.6 years as of
June 30, 2020, compared with 2.3 years a year ago.
"The stable outlook reflects our expectation that Zhongnan will
achieve solid revenue recognition and control leverage, while
stabilizing its margin over the next 12-24 months. We also expect
Zhongnan to continue engaging in off-balance sheet projects for
growth. As a result, the company's see-through leverage should
continue to be lower than its consolidated level as it continues to
provide substantial amount of guarantees.
"We could lower the rating if Zhongnan's debt-funded expansion is
more aggressive than we expect or its profitability deteriorates.
This can happen if the company's land spending is higher than we
expected, or rising competition in the property market further
compresses its margins, such that its debt-to-EBITDA ratio, either
on a consolidated or see-through basis, worsens below 6.5x.
"We could raise the rating if Zhongnan demonstrates further
financial discipline. An indication of such improvement would be
its debt-to-EBTIDA ratios, on a consolidated and see-through basis,
improving to below 5x.
"In a more remote case, we could also raise the rating if the
company significantly improves its market position and geographic
diversification, while sustaining satisfactory profitability."
SINIC HOLDINGS: Fitch Assigns B+ Rating to New USD Sr. Notes
------------------------------------------------------------
Fitch Ratings has assigned China-based homebuilder Sinic Holdings
(Group) Company Limited's (B+/Stable) proposed 364-day US dollar
senior notes a 'B+' rating, with a Recovery Rating of 'RR4'.
The proposed notes are rated at the same level as Sinic's senior
unsecured rating because they constitute its direct and senior
unsecured obligations. Sinic intends to use the net proceeds from
the issue to primarily refinance its existing debt and for general
working capital.
Sinic's rating is supported by its diverse land bank, healthy
contracted sales growth, fast sales churn and good margin. Sinic's
leverage - defined by net debt (including guarantees to joint
ventures (JV) and associates)/adjusted inventory - of below 55% at
end-1H20 is on the higher end of 'B+' rated peers, which makes it a
rating constraint. This is mitigated by its quality land bank that
is sufficient for development over the next three-to-four years.
This allows flexibility in land acquisition in the next 24 months.
Fitch believes it's fast-churn model will help leverage stay below
55% in the forecast period to 2023. At the same time, Sinic has a
short operating history and a limited record in a downcycle.
KEY RATING DRIVERS
Strong Position in Jiangxi: Sinic has strong brand recognition in
Jiangxi province and its capital, Nanchang, and was the province's
top-selling developer from 2017 to 2019. It was also among the
top-five developers in Guangdong province's Huizhou by contracted
sales in 2019. Sinic has been diversifying outside of its home
market in Jiangxi and has strengthened its presence in the Greater
Bay Area, the Yangtze River Delta and central-western China.
It had 138 projects in 37 cities in four regions across China by
end-1H20. Sinic's attributable contracted sales rose by 7% yoy in
1H20, mainly driven by an average selling price (ASP) of CNY14,264
per sq m.
High Leverage: Sinic had CNY10.8 billion in net debt on its
consolidated balance sheet and also provided CNY8.3 billion in
guarantees for its JVs and associates as of end-1H20. The
attributable aggregated leverage at the JVs is higher than that of
its consolidated accounts. Fitch has included the guarantees to JVs
in calculating Sinic's leverage of below 55% at end-1H20. (If Fitch
was to exclude the guarantees, Sinic's leverage would have been
around 30% at end-1H20, lower than that of many B+ peers). Fitch
expects its leverage to stay below 55% in the forecast period, as
the company plans to spend no more than 50% of its sales proceeds
on land acquisition and provide fewer debt guarantees to its JVs.
Significant Minority Shareholders: Total non-controlling interest
in Sinic's balance sheet increased to CNY7.7 billion in 1H20, from
CNY0.8 billion in 2018, as minority shareholders injected capital
into Sinic's projects. Non-controlling interest accounted for 47.6%
of total equity at end-1H20, which is relatively high among peers.
This reduces Sinic's financial flexibility compared with
homebuilders with lower non-controlling interest, which can
potentially dispose of stakes in projects to reduce leverage.
Short Operating History: Sinic only acquired its first piece of
land in 2010 and started to expand nationally from its home market,
Nanchang, in 2016, when the Chinese property sector was in an
upcycle. Its ability to weather a downturn is still untested. Its
recent effort to expand outside of its home market in Jiangxi is
also subject to execution risk. The company has operations in 21
cities with only one project each, which may lead to higher
operating costs.
Adequate Land Bank: Sinic's attributable unsold land reserves of
10.4 million sq m at end-1H20 are sufficient for development over
the next three-to-four years. This means the company is not under
immediate pressure to replenish its land bank to sustain contracted
sales growth, which gives it more room to lower its leverage and
control its land cost. Fitch believes cautious land acquisition
will help its EBITDA margin stay above 28% in 2020 and above 24% in
the forecast period.
Improved Access to Funding: Sinic's cost of funding has been
relatively high at more than 9%, but Fitch expects this to fall as
more expensive trust loans are replaced with lower-cost financing.
Its IPO in November 2019 also improved its access to funding. The
proportion of bank borrowings increased over the past three years
and bank loans made up 57% of its debt as of end-2019. The company
continues to replace costly onshore trust and asset-management
company loans with onshore and offshore funding including bonds,
asset-backed securities and syndicated loans.
DERIVATION SUMMARY
Sinic's business profile is supported by its leading market
position in Jiangxi, healthy margins, and operating scale. Its
attributable contracted sales scale of CNY45 billion in 2019 is
larger than that of Fantasia Holdings Group Co., Limited
(B+/Stable) and Hopson Development Holdings Limited (B+/Stable).
Sinic's contracted sales scale is 15% larger than that of Hong Kong
JunFa Property Company Limited (B+/Stable). Sinic's better
land-bank quality is evident from its higher ASP in 4M20. Sinic's
land bank is also more widely spread across China compared with
Junfa's land bank, which is highly concentrated in Kunming. Sinic
has a higher churn rate in terms of contracted sales to total debt
but a lower EBITDA margin. Junfa has much stronger recurring income
interest coverage and lower leverage.
Sinic's ratings are mainly constrained by its financial profile.
The company's CNY8.3 billion in guarantees to its JVs and
associates accounted for 23% of total debt on its consolidated
balance sheet. Its leverage, including guarantees to JVs and
associates, of below 55% at end-1H20 is higher than that of most of
its 'B+' rated peers, which have leverage below 50%.
KEY ASSUMPTIONS
Fitch's Key Assumptions Within Its Rating Case for the Issuer
- Land-bank life will stay above three years in 2020-2023
- Gross floor area (GFA) acquired is 0.9x-1.0x of its GFA sold in
2020-2023
- ASP to rise 20% in 2020 and 2% per year in 2021-2023
- Development-property cost of goods sold kept at 71% of sales in
2020-2023
- Selling, general and administrative expenses at 4.3% of
contracted sales in 2020-2023
- Dividend payout ratio of 25% in 2020-2023
Recovery Assumptions:
- 25% haircut to net inventory and JV proportionately
consolidated adjusted inventory in light of Sinic's EBITDA margin
of around 25%-30%
- 70% haircut to investment properties
- 30% haircut to account receivables
- 60% standard haircut to net property, plant and equipment
- No haircut on restricted cash
RATING SENSITIVITIES
Factors that could, individually or collectively, lead to positive
rating action/upgrade:
- Leverage (net debt/adjusted inventory) sustained below 45%
- EBITDA margin, after adding back capitalised interest in cost
of goods sold, above 25% for a sustained period
Factors that could, individually or collectively, lead to negative
rating action/downgrade:
- Leverage (net debt/adjusted inventory) above 55% for a
sustained period
- EBITDA margin, after adding back capitalised interest in cost
of goods sold, below 20% for a sustained period
LIQUIDITY AND DEBT STRUCTURE
Adequate Liquidity: Sinic's short-term debt amounted to CNY12.7
billion, or 44% of its total debt, as of end-1H20. Available cash
to short-term debt was 1.0x. Its total cash of CNY17.7 billion,
after taking into account restricted cash, was enough to cover its
short-term debt by a multiple of 1.4x. Sinic's debt maturities are
concentrated in 2020-2022 with 44% of its debt maturing in 2021 and
12% after 2022.
The company is committed to improving its debt-maturity profile and
capital structure through broadening its financing channels to
support its long-term growth sustainably. Sinic's IPO in 2019
reduces its reliance on debt financing. It plans to lengthen its
debt-maturity profile through various funding options, such as both
onshore and offshore issuance, and refinancing trust loans with
bank syndicated loans.
ESG CONSIDERATIONS
The highest level of ESG credit relevance, if present, is a score
of 3. This means ESG issues are credit-neutral or have only a
minimal credit impact on the entity(ies), either due to their
nature or to the way in which they are being managed by the
entity(ies).
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AGARWAL CHEM: ICRA Keeps B Debt Ratings in Not Cooperating
----------------------------------------------------------
ICRA said the ratings for the INR15.00 crore bank facilities of
Agarwal Chem Products (India) Pvt. Ltd. continues to remain under
the 'Issuer Not Cooperating' category. The rating is denoted as
"[ICRA]B (Stable); ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund-based– 7.50 [ICRA]B (Stable); ISSUER NOT
Cash Credit COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Fund-based– 7.50 [ICRA]B (Stable); ISSUER NOT
Unallocated COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best available/dated/
limited information on the issuers' performance. Accordingly, the
lenders, investors and other market participants are advised to
exercise appropriate caution while using this rating as the rating
may not adequately reflect the credit risk profile of the entity.
The rating action has been taken in accordance with ICRA's policy
in respect of non-cooperation by a rated entity available at
www.icra.in.
ACPL was incorporated in 2001 by Mr. Mohan Lal Agrawal, who is the
managing director. The promoter has an experience of more than 35
years in the industry- ranging from the manufacturing of pesticides
and chemical intermediaries to the trading of inorganic and
speciality chemicals. The company procures the chemicals from
national and international certified vendors, which are sold to
customers for use in textiles, dying and printing, detergents,
paints, varnishes, pharmaceuticals, fertilisers, paper and
petrochemicals.
In FY2018, the company reported a net profit of INR0.4 crore on an
operating income of INR149.8 crore, as compared to a net profit of
INR0.4 crore on an operating income of INR 136.6 crore in the
previous year.
AMRAPALI SMART: CARE Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Amrapali
Smart City Developers Private Limited (ASCDPL) continues to remain
in the 'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 270.00 CARE D; Issuer not cooperating;
Facilities Based on best available
information
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated March 13, 2018, placed the
rating of ASCDPL under the 'issuer non-cooperating' category as
ASCDPL had failed to provide information for monitoring of the
rating. ASCDPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated August
4, 2020; September 7, 2020 and September 14, 2020. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the best available information which however, in CARE's opinion
is not sufficient to arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Detailed description of the key rating drivers
At the time of last rating on August 26, 2019 the rating takes into
account the continuation in delays in servicing of debt by the
company.
Incorporated in 2010, Amrapali Smart City Developers Pvt Limited
(ASCDPL) is an SPV promoted by Amrapali group. ASCD is developing a
single group housing project in Greater Noida with total saleable
area of 116 lsf on total land area of 61 acres. ASCD has acquired
the land for the said project on lease from Greater Noida
Industrial Development Authority on deferred payment basis for
INR260cr. The company has launched the project in August 2010. In
2019, the Promoters of the company are sent behind the bars in an
alleged case of defrauding homebuyers.
APEX CONSTRUCTIONS: ICRA Keeps B+ Debt Rating in Not Cooperating
----------------------------------------------------------------
ICRA said the rating for the INR13.00 crore bank facilities of Apex
Constructions continues to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]B+
(Stable)/[ICRA]A4; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund-based– 6.00 [ICRA]B+ (Stable); ISSUER NOT
Cash Credit COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Non Fund based 7.00 [ICRA]A4; ISSUER NOT
Letter of COOPERATING; Rating continues
Guarantee to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.
Apex Constructionss was established as a partnership firm in 1997.
There was reconstitution of partnership firm in April 2014 and it
is currently managed by Mr. Raman Patel, Mr. Rajesh Patel, Mr.
Nirav Patel along with other four partners. The firm is primarily
engaged in the execution of government tenders for civil
construction contracts of Roads. The company has "AA" category
registration having validity till December 31, 2018 with the
Government of Gujarat, enabling it to bid without any capping of
the contract value. The company has received the certificate during
July 2016. To mitigate the funding and bidding issues, AC executes
contracts as a subcontractor for Milan Associates (AA category
registration) and Anish Infracon (AA category registration) whereby
bidding is done, and order is bagged by the primary contractor. For
subcontract work, the entire project activity is carried out by AC
and in return it pays commission in the range of 3-4% to the
aforementioned client. Earlier the partners of AC were associated
with Milan Associates and Anish Infracon (I) Pvt. Ltd. however
after reconstitution, all the entities got separated. AC also gives
some of the contract to another sub-contractor depending upon the
project.
BATTULAL RADHEY: CARE Keeps C Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Battulal
Radhey Shyam And Sons (BRS) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 4.00 CARE C; Stable; Issuer not
Facilities cooperating; Based on best
available information
Short-term Bank 2.00 CARE A4; Issuer not
Facilities cooperating; Based on best
available information
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated August 29, 2019 placed the
rating of BRS under the 'issuer non-cooperating' category as BRS
had failed to provide information for monitoring of the rating. BRS
continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated September 1, 2020,
August 31, 2020 and numerous phone calls. In line with the extant
SEBI guidelines, CARE has reviewed the rating on the basis of the
best available information which however, in CARE's opinion is not
sufficient to arrive at a fair rating. Further banker could not be
contacted.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
The rating takes into account non-availability of requisite
information and no due-diligence conducted due to noncooperation by
BRS with CARE'S efforts to undertake a review of the rating
outstanding. CARE views information availability risk as a key
factor in its assessment of credit risk. Further, the ratings
continue to remain constrained owing by small scale of operations
with low net-worth base, weak financial risk profile, elongated
operating cycle, proprietorship nature of constitution and
competition from players in the organized and unorganized sector.
The ratings, however, continue to take comfort from experienced
proprietor in the gems & jewellery industry and long track record
of operations and moderate profitability margins.
Detailed description of the key rating drivers
At the time of last rating on August 29, 2019, the following were
the rating strengths and weaknesses:
Key Rating Weaknesses
* Small scale of operations with low net-worth base: Despite being
in operations for one decade, the scale of operations of the firm
stood small marked by total operating income (TOI) of INR9.62 crore
in FY18 (Prov.) and net worth base of INR0.34 crore as on March 31,
2018. Furthermore, gross cash accruals stood relatively low at
INR0.22 crore in FY18. The small scale limits the firm's financial
flexibility in times of stress and deprives it of scale benefits.
* Weak financial risk profile: The capital structure of the firm
stood leveraged marked by overall gearing ratio of 19.95x as on
March 31, 2018. Further, the debt coverage indicators of the firm
remained weak as indicated by total debt to GCA of 30.06x for FY18
and interest coverage ratio of 1.46x in FY18.
* Elongated operating cycle: The average operating cycle of BRS
stood at 219 days for FY18 (PY: 163 days). The inventory period
stood high at 198 days for FY18 (PY: 129 days) as the firm
maintains high finished goods inventory consisting of various
designs for display at its showroom. Further, manufacturing of gold
jewellery also lead to higher work-in-progress inventory. The firm
does not offer any credit period to its individual customers.
However, to the retail jewelers, BRS generally offers credit period
of two months which lead to average collection period of 46 days
for FY18 (PY: 56 days). The firm receives a credit period of one
month from its suppliers resulting into average creditor period of
35 days for FY18.
* Proprietorship nature of constitution: BRS's constitution as a
proprietorship firm has the inherent risk of possibility of
withdrawal of the proprietors' capital at the time of personal
contingency and firm being dissolved upon the
death/retirement/insolvency of proprietor. Moreover, proprietorship
firms have restricted access to external borrowings.
* Competition from players in the organized and unorganized sector:
The Indian gems and jewellery industry is highly fragmented as
majority of the market share is spread across a large number of
unorganized players. Currently, the organised retail players in the
jewellery space have only 5-7% share of the total jewellery market,
but this is expected to increase to more than 10% in the near
future. Increasing prices of gold and
aggressive strategy of the modern retail players to increase their
market share would further intensify the competition in the
industry. Thus, increasing competition would have an additional
downside pressure on the profitability margins of jewellery
entities like BRS.
Key Rating Strengths
* Experienced proprietor in the gems & jewelry industry and long
track record of operations: BRS was established in August 2008 as a
proprietorship concern by Mr. Punit Kumar Jain. The proprietor has
a total work experience of two and a half decades which he has
gained through BRS, group concern – Mansarovar Holidays Resort
and
other family run businesses. This has led to management's better
understanding of the market and establishment of strong
relationships with suppliers as well as customers.
* Moderate profitability margins: The profitability margins of the
firm stood moderate marked by PBILDT margin and PAT margin of 7.41%
and 2.33% respectively in FY18 (Prov.). The PBILDT margin improved
from 6.37% in FY17 to 7.41% in FY18 due to better absorption of
fixed costs. Consequently, PAT margin also improved from 2.00% in
FY17 to 2.33% in FY18.
Battulal Radhey Shyam and Sons (BRS), based in Nainital,
Uttarakhand was established in 2008 as a proprietorship firm by Mr.
Punit Kumar Goel. The firm is engaged in manufacturing and trading
of gold jewelry (income from trading constituted 80% of the total
income in FY18). The customer profile mainly comprises of retail
jewelers and individual customers located locally in Nainital,
Uttarakhand and Moradabad, Uttar Pradesh. Besides BRS, the
proprietor is also associated with other group concern –
Mansarovar Holidays, a holiday resort in Jim Corbett National Park,
Uttarakhand.
C.P ISPAT: CARE Keeps D Debt Rating in Not Cooperating Category
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of C.P Ispat
Private Limited (CPIPL) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 14.50 CARE D; Issuer not cooperating;
Facilities Based on best available
information
Detailed Rationale & Key Rating Drivers
CARE has been seeking information from CPIPL to monitor the rating
vide e-mail communications/letters dated September 4, 2020,
September 7, 2020, September 9, 2020 and numerous phone calls.
However, despite repeated requests, the entity has not provided the
requisite information for monitoring the rating. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the publicly available information which, however, in CARE's
opinion is not sufficient to arrive at a fair rating. The rating on
CPIPL's bank facilities will now be denoted as CARE D; ISSUER NOT
COOPERATING. Further, banker could not be contacted.
Detailed description of the key rating drivers
At the time of last rating in July 17, 2019 the following were the
rating strengths and weaknesses:
Key Rating Weaknesses
* Ongoing delays: The rating takes into account ongoing delay in
the servicing of the bank debt obligations on account of the
stretch liquidity position of the company.
C.P. Ispat Pvt. Limited (CPIPL), incorporated in the year 2006, was
initially promoted by the Kolkata-based Chawla family and was
earlier managed by Mr. Amarjeet Chawla. CPIPL commenced commercial
production in July 2009 at its facility in Bankura, West Bengal.
However, in September 2013, the Chawla family leased out the plant
to the Durgapur-based Jayshree group owned by Mr. Amit Agarwal and
his family. Since September 15, 2013, operations of the plant have
been managed by the Jayshree group. In February 2014, the Jayshree
group entered into an agreement with the Chawla family to purchase
CPIPL with effect from April 2014. CPIPL is engaged in the
manufacturing of sponge iron at its plant located at Barjora,
Bankura with a current installed capacity of 60,000 metric tonne
per annum (MTPA).
C.P SPONGE: CARE Keeps D Debt Rating in Not Cooperating Category
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of C.P Sponge
Iron Private Limited (CPSIPL) continues to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 20.00 CARE D; Issuer not cooperating;
Facilities Based on best available
information
Detailed Rationale & Key Rating Drivers
CARE has been seeking information from CPSIPL to monitor the rating
vide e-mail communications/letters dated September 4, 2020,
September 7, 2020, September 9, 2020 and numerous phone calls.
However, despite repeated requests, the entity has not provided the
requisite information for monitoring the rating. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the publicly available information which, however, in CARE's
opinion is not sufficient to arrive at a fair rating. Further, C.
P. Sponge Iron Pvt. Ltd. has not paid the surveillance fees for the
rating exercise as agreed to in its Rating Agreement. The rating on
CPSIPL's bank facilities will now be denoted as CARE D; ISSUER NOT
COOPERATING. Further, banker could not be contacted.
Detailed description of the key rating drivers
At the time of last rating in July 17, 2019 the following were the
rating strengths and weaknesses:
Key Rating Weaknesses
* Ongoing delays: The rating takes into account ongoing delay in
the servicing of the bank debt obligations on account of the
stretch liquidity position of the company.
C.P. Sponge Iron Private Limited (CPSIPL) incorporated in the year
2002, was promoted by Chawla family belonging to West Bengal. The
company commenced operation since July, 2008. CPSIPL is engaged in
the manufacturing of sponge iron at its plant located at Durgapur,
West Bengal with a current installed capacity of 60,000 metric
tonne per annum (MTPA). All the three directors look after the day
to day activities of the business along with a team of experienced
professionals who are having long experience in similar line of
business.
EXOTIC GRANITE: ICRA Keeps B Debt Ratings in Not Cooperating
------------------------------------------------------------
ICRA said the ratings for the INR17.00 crore bank facilities of
Exotic Granite LLP continue to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]B
(Stable)/[ICRA]A4; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund-based 4.00 [ICRA]B (Stable); ISSUER NOT
Limits Cash COOPERATING; Rating continues
Credit to remain under 'Issuer Not
Cooperating' category
Fund-based– 6.00 [ICRA]B (Stable); ISSUER NOT
Term Loan COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Short term non 7.00 [ICRA]A4; ISSUER NOT
Fund based COOPERATING; Rating continues
Letter of Credit to remain in the 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.
Established in December 2012, M/S. Exotic Granite LLP (EGL) set up
a granite cutting and polishing unit in Mundra, Gujarat in April
2014, with a production capacity of cutting and polishing 15,00,000
square feet of granite slabs per annum. The firm is currently
managed by Mr. Rajesh Mandhana, Mr Pradeep Mandhana. Additionally,
Crystal Granite and Marble Private Limited (CGMPL) engaged in
processing granite rough blocks into slabs has also partnered with
EGL.
FUTURE ENTERPRISES: CARE Lowers Rating on INR327cr NCD to D
-----------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Future Enterprises Limited (FEL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Non-Convertible 327.00 CARE D Revised from CARE C
Debenture Issue rating removed from credit
watch with developing
implications
Long-term-Term 550.00 CARE C (Credit Watch with
Loan developing implications)
Long-term fund 625.00 CARE C (Credit Watch with
based bank developing implications)
facilities–CC
Short-term non- 602.00 CARE A4 (Credit Watch with
fund based bank developing implications)
facilities– LC/BG
Non-Convertible 265.00 CARE D
Debenture Issue
Non-Convertible 2,132.00 CARE C (Credit Watch with
Debenture Issue developing implications)
Fixed Deposit 700.00 CARE C (FD) (Credit Watch
Programme with developing implications)
Detailed Rationale & Key Rating Drivers
The revision of ratings assigned to the instruments of FEL is on
account of default in servicing of interest due on September 21,
2020 on its Non-convertible Debentures bearing ISIN INE623B07503
and INE623B07511. The default is primarily on account of poor
liquidity position due to subsequent lockdowns in the wake of
COVID-19 outbreak. The other issues raised by CARE in its press
release dated September 8, 2020, viz. weakened credit profile of
its key customer – Future Retail Limited (FRL), delays in release
of sanctioned bank limits and default in servicing of its interest
on its Nonconvertible Debentures bearing ISIN INE623B07487 and
INE623B07495 continue to constrain the ratings. The ratings also
factor in high promoter pledge and falling market capitalisation
significantly impacting financial flexibility, dependence on group
companies for revenue and high working capital cycle. FEL is in
discussion to monetise its investments in insurance business to
improve its liquidity position. The timeliness of monetisation
remains key rating monitorable.
FEL had announced on August 29, 2020 that Reliance Retail Ventures
Limited, a subsidiary of Reliance Industries Limited shall be
acquiring the Retail & Wholesale Business and the Logistics &
Warehousing Business from the Future Group as going concerns on a
slump sale basis for lumpsum aggregate consideration of INR 24,713
crore. The scheme is subject to various approvals and the execution
of the same remains critical from credit perspective.
FEL has sought a moratorium on payments from its lenders as part of
the COVID-19 - Regulatory Package announced by the RBI on March 27,
2020. CARE has not recognised this instance as a Default as of now,
as the same is permitted by the RBI as part of the relief measures.
FEL had interest payment on NCD (INE623B07685 and INE623B07693) due
on April 17, 2020 which was made April 22, 2020. As per the
communication from the investor the company sought moratorium on
NCD interest payment and the same was approved by the investor. The
company also had a CP (ISIN INE623B14AW6) (Not rated by CARE)
payment aggregating to INR100 crore due on April 27, 2020 but the
same was delayed and made on April 28, 2020. As per the IPA the
company had adequate funds in the account but transaction could not
be executed due to delays in banking operations caused by COVID19.
Non-recognition of default in the above cases is as per the
guidance provided by the SEBI circular
SEBI/HO/MIRSD/CRADT/CIR/P/2020/53 dated March 30, 2020.
Key Rating Sensitivities
Positive Factors
* Improvement in company's liquidity profile resulting from
equity infusion/divestment of investments/improved credit
profile of its key customer, FRL
Negative Factors
* NCDs amounting to INR1,250 crore have accelerated prepayment
clause in case of rating falling below 'AA-'. Exercising the
option to recall bonds may result in severe liquidity issues.
* Delays in divestment of stake in subsidiaries/JVs/Associate
companies and/or higher debt resulting in a leveraged capital
structure over 1.00x (FY21)
* Inability of the company to scale up new verticals of
business leading to deterioration of Total Debt/PBILDT over
3.25x
Detailed description of the key rating drivers (As per PR dated
September 8, 2020)
Key Rating Weaknesses
* Stretched financial flexibility; considerable promoters' stake
pledged: The promoters FEL as of Mar 2018 had pledged 11.64 crore
shares (56.56% of promoter stake). During the past year, the
company's market capitalisation has declined significantly from INR
1,760 crore to INR 719 crore as on July 29, 2020. Falling market
capitalisation coupled with rising debt has led to significant
deterioration of debt to market-capitalisation from 3.73x as on
March 31, 2018 to 3.86x as on March 31, 2019 to current level of
~8.55x. However, in lieu of significant fall in share price, the
promoters had to pledge additional shares taking the total to
87.40% of promoters' stake (as on Jun 30, 2020). Considerable
reduction in market capitalisation and significant proportion of
promoter's stake pledged hampers the company's flexibility to raise
funds.
* Significant dependence on group companies: FEL provides
infrastructure support to group companies, logistical support
through its subsidiary Future Supply Chain Solutions Limited and
also designs, manufactures garments for in-house brands and engages
in trading for various group companies. Sale of goods and services
to its group companies has shown an increasing trend.
FEL is reliant on FRL for a significant portion of its income (Rs.
3,838 crore in FY19). FEL's step-down subsidiary, Future Supply
Chain Solutions Limited also provides warehousing and logistic
requirements to FRL (FY19: INR557.88 crore).
Going ahead, with the proposed acquisition of retail assets from
FEL, lease rentals from FRL are expected to come down by INR
550-650 crore. However, apart from the infrastructure support, FEL
will continue to provide other services to FRL. Furthermore, FEL
and FRL have also provided cross guarantees on behalf of each other
for various borrowings to the tune of INR 5750 crore and INR 3583
crore respectively as on March 31, 2019. These guarantees between
both the companies will eventually be withdrawn post the sale of
assets and subsequent debt repayment.
* High Working Capital Cycle: FEL has high gross working capital
cycle of 176 days in FY19, which has deteriorated from 157 days in
FY18. The reason for high operating cycle is on account of high
inventory days. The company buys on behalf of group companies and
goods are kept at various retail outlets across the country thereby
leading to high inventory period of 16-18 weeks. The company
receives payment after 6-7 weeks from sale of goods. Increase in
inventory days and growth in operations led to an increase in
company's fund based average working capital utilisation (including
CP) for the past 12 months ending Feb 2020 to 71% as against 63%
during the same period last year.
* Intensifying competition in retail industry: Heightened
competition from both brick and mortar and online players could
impact overall SSSG of FEL's customers. Competition from e-commerce
players, remains a key threat. Also, change in FDI norms can lead
to further competition. Currently, the government has allowed FDI
in food processing sector. Apart from this, the government is also
contemplating liberalising rules relating to multi‐brand retail.
This will open up foreign investments which may pose a threat to
existing retail players.
Key Rating Strengths
* Experienced Promoters & Management: The promoters of FEL have
been closely involved in the management of business and in defining
& monitoring the business strategy for the company. Mr. Kishore
Biyani, the founder and Group CEO of the Future group, is widely
recognised as a pioneer of modern retail in India. Furthermore the
promoters are supported by a strong management team having
significant experience in retail industry. The company hold stake
in various other future group companies with main being in Future
Supply Chain Solutions Limited and insurance JV with Future
Generali. The company is looking to divest its holdings in various
group companies in order to reduce debt.
* Sale of assets to improve capital structure; albeit reduction in
rental income: Sale of lease assets to FRL at a fair value of INR
3,952 crore and subsequent debt repayment will help the company to
improve its capital structure. The company's debt level has already
come down from INR 6,730 crore (excl. acceptances on LC) as on Dec
31, 2019 to INR 5,681 crore as on Feb 29, 2020. However, post the
outbreak of COVID19, the company hasn't prepaid the balance debt
which has led to leverage remaining high. Furthermore, reduced cash
flows and significant dependence on banks for working capital
requirements will keep the capital structure under pressure. The
company has plans to divest stake in its insurance business as well
as logistic business which will lead to further improvement in
capital structure upon materialisation. Consequently, with the sale
of assets to FRL, FEL lease rental income from FRL is expected to
significantly decline by INR 550- 650 crore p.a. The ability of the
company to successfully improve capital structure remains critical
from credit perspective.
* New verticals to drive growth: FEL is almost fully dependant on
group companies to drive its growth. The company received 92% of
total sales from group companies. Post the sale of assets to FRL,
FEL's income is expected to decline by INR 550-650 crore and
subsequently PBILDT and PBILDT margins are also expected to
shrink.
Going ahead, even as group companies continue to remain depended on
FEL for their designing, manufacturing and trading requirements,
the latter is looking to develop incumbent business and reduce
dependence on group companies. The company is looking leverage on
data collected through its 'Future Pay' app which has over 16mn
members. It will also provide a market place to group companies
such as FRL and Future Lifestyle Fashions. FEL is also looking to
offer financial services & payments solutions through the app.
The ability of the company to scale the businesses and achieve
envisaged results within stipulated timelines remain critical for
company's credit profile.
Industry Outlook
In view of the COVID19 outbreak and lowering of the discretionary
spending by the consumers in these times of economic downturn, the
outlook for the Indian players in retail sector is 'Negative' in
the short to medium term. The impact on demand, which is expected
to remain muted at least for the next three or four quarters, will
be more in case of players with presence in non-essential items and
luxury segments. However, the expected support from the government
in terms of financial stimulus packages and wage support subsidy as
well as rental waivers from the mall-owners which would help the
retailers to bring down their fixed costs, will reduce the impact
on their credit profile to an extent. The retailers with presence
in essential commodities continue to have some cash flows to
support their fixed costs.
After the control of the spread of the coronavirus and post the
lock-down period, the spending as well as shopping patterns of the
consumers are expected to change significantly. The consumers are
likely to curtail their discretionary spending with reduced income
in their hands as well as tendency to preserve cash. Also, more
preference is likely towards online channels in order to avoid
crowded spaces. In such times, the retailers with presence across
the retail segments (grocery, apparel, appliances, accessories) as
well as who have an omni-channel strategy with presence in both
offline and online channels are expected to have a quicker
recovery.
Liquidity Position: Poor
The company's liquidity profile has been severely impacted on
account of lockdown measures and weakened credit profile of its key
customer, FRL. The company has applied to the lenders for
moratorium as per RBI package. The company has also applied to the
bankers for enhancement in working capital limits, release of peak
limits, interchangeability of limits and COVID19 lines, the same
are under different stages of approval. The timely release of
additional working capital limits continue to remain critical for
meeting the short term repayment obligations. The company is also
looking at monetising its investments in insurance and supply chain
business which would improve the liquidity, however, the same has
been delayed.
Erstwhile Future Retail Ltd. has now been renamed as Future
Enterprises Ltd. (FEL) and houses the physical assets (store
formats of erstwhile FRL and Bharti Retail Limited including all
the infrastructure assets situated in the stores) apart from
strategic investments in various companies. The company is also in
the business of manufacturing and trading of men's wear, women's
wear and kid's wear in denim segment. FEL is also the holding
company for future group's various other businesses.
HOUSING DEVELOPMENT: CBI Files Fresh Case Against Wadhawans
-----------------------------------------------------------
The Times of India reports that the Central Bureau of Investigation
(CBI) on Oct. 9 registered a fresh cheating case against Housing
Development and Infrastructure Ltd (HDIL) promoters Rakesh Wadhawan
and his son Sarang Wadhawan, also known as Sunny Dewan, along with
others in connection with the Yes Bank fraud case, and searched 10
premises.
According to TOI, the duo had been arrested in the Punjab and
Maharashtra Cooperative (PMC) Bank fraud case that is being
investigated by the Enforcement Directorate and Mumbai police.
CBI named HDIL, its promoters Waryam Singh, Amanpreet Singh, V N
Iyenger, Lakhminder Singh, Ashok Jayesh & Associates (chartered
accountants), Jayesh Sanghani, Ashok Gupta, and others in the case,
the report says.
TOI relates that CBI alleged that Mack Star Marketing Pvt Ltd had
developed a building, Kaledonia, in Andheri East, in 2008 by
spending Rs 1,000 crore (Rs 900 crore for purchase of the plot and
Rs 100 crore for construction). Mack Star was a joint venture of
Mauritius-based Ocean Deity Investment Holdings Ltd (ODIL) and a
Wadhawan-owned company. The father-son duo was appointed as
directors of Mack Star since they had a vast experience in real
estate, and ODIL had a passive role in the joint venture. ODIL had
invested in the Andheri project.
To safeguard ODIL's interests, the Article of Association of Mack
Star prohibits its directors-shareholders from selling assets,
creating or taking loans of more than INR20 lakh without ODIL's
consent, TOI says.
The Wahdawans allegedly used most of the funds to repay HDIL's dues
with Yes Bank, to avoid a non-performing asset situation. CBI said
of the total sanctioned loan, INR64 crore was used to settle HDIL
group liabilities, according to TOI. The remaining INR136 crore was
credited into Mack Star's account and then transferred to HDIL and
its three group companies the same day. They used INR96 crore of
the funds to settle Yes Bank dues. Mack Star auditor Ashok Jayesh &
Associates allegedly helped Wadhawans, TOI adds.
About HDIL
Housing Development & Infrastructure Limited (HDIL) is real estate
development company. The Company's services include residential,
commercial, and retail real estate development.
The National Company Law Tribunal (NCLT) on Aug. 20, 2019, admitted
an application filed by Bank of India to initiate insolvency
proceedings against the company.
In July 2020, the National Company Law Appellate Tribunal (NCLAT)
has upheld the NCLT order to initiate insolvency proceedings
against HDIL and rejected the plea of its promoter Rakesh Wadhwan.
KANDAGIRI SPINNING: CARE Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Kandagiri
Spinning Mills Limited (KSML) continues to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 30.85 CARE D; Issuer not cooperating;
Facilities Based on best available
information
Short-term Bank 1.00 CARE D; Issuer not cooperating;
Facilities Based on best available
information
Fixed Deposit 14.01 CARE D (FD); Issuer not
cooperating; Based on best
available information
Detailed Rationale & Key Rating Drivers
KSML has not paid the surveillance fees for the rating exercise as
agreed to in its rating agreement. In line with the extant SEBI
guidelines, CARE's rating on of KSML's bank facilities will now be
denoted as CARE D; ISSUER NOT COOPERATING.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
Detailed description of the key rating drivers
At the time of last rating on September 4, 2019 the following were
the rating weaknesses (updated for information available
from stock exchange).
Key Rating Weaknesses
* Delay in servicing debt obligations: The Company had delayed in
servicing its debt obligations.
* Weak financial performance: The Company is involved in spinning
of cotton yarn and the operating income continues to be weak at
INR26.62 crore in FY20 as against INR69.71 crore in FY19. The
company reported loss after tax of INR12.36 crore (PY: net loss of
INR18.59 crore) in FY20.
Liquidity: Poor- KSML had poor Liquidity marked by lower accruals
when compared to repayment obligations, fully utilized bank limits
and poor cash balance.
KSML was originally incorporated in 1976 in Salem, Tamil Nadu,
under the name of 'The Ammapet Sizing Mills Private Limited'. The
company took its current name in 1978 and became a public limited
company in 1995. KSML is engaged in textile spinning with an
aggregate capacity of 27,296 spindles (as on March 31, 2019).
KISHAN GUM: ICRA Keeps B Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
ICRA said the ratings for the INR5.94 crore bank facilities of
Kishan Gum Industries continue to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]B (Stable);
ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund-based 4.50 [ICRA]B (Stable); ISSUER NOT
Limits Cash COOPERATING; Rating continues
Credit to remain under 'Issuer Not
Cooperating' category
Fund-based– 1.44 [ICRA]B (Stable); ISSUER NOT
Term Loan COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.
Established in September 2014, Kishan Gum Industries (KGI) is
engaged in processing guar gum seeds to manufacture guar gum
refined splits as main product and churi and kroma as by product.
The guar gum refined splits finds it application as raw material in
guar gum powder manufacturing industries whereas churi and korma
are largely used as cattle feed. The plant is located at Halvad in
Surendranagar district of Gujarat with capacity of processing
10,800 MT of raw guar seeds per annum. The firm commenced
commercial operations in June 2015.
KKB PROJECTS: ICRA Lowers Rating on INR13cr LT Loan to B+
---------------------------------------------------------
ICRA has downgraded the ratings for the INR13.00 crore bank
facilities of KKB Projects Pvt. Ltd and continues to remain under
'Issuer Not Cooperating' category. The rating is now denoted as
"[ICRA]B+ (stable); ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term–Fund 13.00 [ICRA]B+(Stable) ISSUER NOT
Based Cash Credit COOPERATING/Rating downgraded
from [ICRA]BB(Stable) and
Continues to remain under
'Issuer Not Cooperating'
Category
The Long-Term rating downgrade is because of lack of adequate
information KKB Projects Pvt. Ltd performance and hence the
uncertainty around its credit risk. ICRA assesses whether the
information available about the entity is commensurate with its
rating and reviews the same as per its "Policy in respect of
non-cooperation by the rated entity". The lenders, investors and
other market participants are thus advised to exercise appropriate
caution while using this rating as the rating may not adequately
reflect the credit risk profile of the entity, despite the
downgrade. As part of its process and in accordance with its
rating agreement with KKB Projects Pvt. Ltd, ICRA has been trying
to seek information from the entity so as to monitor its
performance, but despite repeated requests by ICRA, the entity's
management has remained non-cooperative. In the absence of
requisite information and in line with SEBI's Circular No.
SEBI/HO/MIRSD4/CIR/2016/119, dated November 1, 2016, ICRA's Rating
Committee has taken a rating view based on the best available
information.
KKB Projects Pvt. Ltd (KPPL) was established in 1993 as a
proprietorship concern by K.K. Bhalala and was reconstituted into a
private limited company in May 2007. KKB is a Government-approved
contractor with an 'AA' category and Special Category I (road
works) class certification in Gujarat. The company constructs roads
for various Government and semiGovernment entities such as Gujarat
Industrial Development Corporation (GIDC) and Surat Municipal
Corporation (SMC).
KRISHNA GEMS: ICRA Lowers Rating on INR7.20cr Loan to B+
--------------------------------------------------------
ICRA has downgraded the ratings for the INR7.40 crore bank
facilities of Krishna Gems and continues to remain under 'Issuer
Not Cooperating' category. The rating is now denoted as "[ICRA]B+
(stable)/[ICRA]A4; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 7.20 [ICRA]B+(Stable) ISSUER NOT
Export Packing COOPERATING/Rating downgraded
Credit/Post from [ICRA]BB- (Stable) and
Shipment Credit/ Continues to remain under
Standby limit 'Issuer Not Cooperating'
Category
Non-Fund based- 0.20 [ICRA]A4 ISSUER NOT
Forward Contract COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
The Long-Term rating downgrade is because of lack of adequate
information Krishna Gems performance and hence the uncertainty
around its credit risk. ICRA assesses whether the information
available about the entity is commensurate with its rating and
reviews the same as per its "Policy in respect of non-cooperation
by the rated entity". The lenders, investors and other market
participants are thus advised to exercise appropriate caution while
using this rating as the rating may not adequately reflect the
credit risk profile of the entity, despite the downgrade.
As part of its process and in accordance with its rating agreement
with Krishna Gems, ICRA has been trying to seek information from
the entity so as to monitor its performance, but despite repeated
requests by ICRA, the entity's management has remained
non-cooperative. In the absence of requisite information and in
line with SEBI's Circular No. SEBI/HO/MIRSD4/CIR/2016/119, dated
November 1, 2016, ICRA's Rating Committee has taken a rating view
based on the best available information.
Established in 1980, Krishna Gems (KG) is a partnership firm which
imports rough diamonds and exports cut and polished diamonds. Its
product range mainly comprises diamonds ranging from 2 cents to 2
carats in round, princess, oval, marquise, heart and pear shapes.
The firm has its marketing and sales office at Mumbai and a
manufacturing facility at Surat, Gujarat.
LOTUS OVERSEAS: ICRA Keeps B+ Debt Ratings in Not Cooperating
-------------------------------------------------------------
ICRA said the ratings for the INR8.15 crore bank facilities of
Lotus Overseas continue to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]B+(Stable);
ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund-based– 7.00 [ICRA]B+ (Stable); ISSUER NOT
Cash Credit COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Fund-based– 1.15 [ICRA]B+ (Stable); ISSUER NOT
Term Loan COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.
Established in May 2017, Lotus Overseas (LO) is a partnership firm
promoted and managed by Mr. Manish Pipaliya and Mr. Chhagan
Pipaliya. The firm is involved in processing and trading in
agro-commodities such as groundnuts, sesame and cumin. The firm's
commercial operations commenced from October 2017. Its
manufacturing facility is located at Junagadh in Gujarat. The
promoters have experience of more than a decade in the
agro-commodity sector.
MINI DIAMONDS: ICRA Withdraws D Ratings on INR9.0cr Loans
---------------------------------------------------------
ICRA has withdrawn the ratings on certain bank facilities of Mini
Diamonds (India) Limited (MDIL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term 3.50 [ICRA]D ISSUER NOT COOPERATING;
fund based Withdrawn
limit
Short-term 5.50 [ICRA]D ISSUER NOT COOPERATING;
Fund based Withdrawn
limit
Rationale
The rating assigned to MDIL has been withdrawn at the request of
the company and based on the no objection certificate received from
the banker, and in accordance with ICRA's policy on withdrawal and
suspension. ICRA is withdrawing the rating and that it does not
have information to suggest that the credit risk has changed since
the time the rating was last reviewed.
Key rating drivers
The key rating drivers have not been captured as the rated
instrument(s) are being withdrawn.
Liquidity position
Liquidity position has not been captured as the rated instruments
are being withdrawn.
Rating sensitivities
Rating sensitivities have not been captured as the rated
instruments are being withdrawn
Incorporated in the year 1987, Mini Diamonds (India) Limited (MDIL)
is promoted by Mr. Upendra Shah and Mr Himanshu Shah. The company
is engaged in manufacturing and trading of cut and polished
diamonds (CPDs) and Trading of rough diamonds. MDIL primarily
caters to the export market with Hong Kong, Belgium and Dubai being
the major export countries. The company has its registered office
and manufacturing units located in Mumbai. The shares of the
company are listed on Bombay Stock Exchange (BSE).
MINOX METAL: ICRA Lowers Rating on INR45.50cr LT Loan to B+
-----------------------------------------------------------
ICRA has revised the ratings on certain bank facilities of Minox
Metal private limited (MMPL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 45.50 [ICRA]B+ (Stable); ISSUER NOT
Fund Based/CC COOPERATING; Rating downgraded
from [ICRA]BB+ (Stable) and
moved to the 'Issuer Not
Cooperating' category
Short Term- 20.00 [ICRA] A4; ISSUER NOT
Non Fund Based COOPERATING; Rating downgraded
from [ICRA]A4+ and moved to
the 'Issuer Not Cooperating'
category
ICRA has also moved the long-term and short-term ratings for the
bank facilities of MMPL to the 'Issuer Not Cooperating' category.
The rating is now denoted as "[ICRA]B+ (Stable)/A4; ISSUER NOT
COOPERATING".
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity.
Incorporated in 2005, MMPL (formerly Mysore Steel Suppliers, a
proprietorship firm) is involved in processing and trading of
stainless steel sheets and coils in all major grades, sizes and
finishes including high-end architecture finishes, color etched,
embossed and mirror which are primarily used in elevators and
escalators. The company has two stainlesssteel processing units in
Bangalore with facilities for slitting, cut-to-length and sheet
polishing. The current combined capacity of the processing plant is
27,000 MTPA (Metric Tons Per Annum). The company's stocking and
selling units are located at Bangalore, Ahmadabad, and Chennai. In
FY2017, the company has forayed into trading of stainless steel
pipes which find its application in architecture, furniture and
kitchen appliances. However, revenue contribution from this segment
remains minimal.
NANDAGUDI OILS: CARE Lowers Rating on INR10cr LT Loan to C
----------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Nandagudi Oils & Agro Industries LLP (NOAI), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long term Bank 10.00 CARE C; Stable; Issuer Not
Facilities Cooperating; Revised from
CARE B; Stable; Issuer Not
Cooperating on the basis of
best available information
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated July 24, 2019, placed the
rating(s) of NOAI under the 'issuer non-cooperating' category as
NOAI had failed to provide information for monitoring of the
rating. NOAI continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and email dated September 8, 2020 to September 14, 2020. In line
with the extant SEBI guidelines, CARE has reviewed the rating on
the basis of the best available information which however, in
CARE's opinion is not sufficient to arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
The revision in the rating assigned to the bank facilities of
Nandagudi Oils & Agro Industries LLP (NOAI) takes into account
operating and net losses, leverage capital structure and weak debt
coverage indicators in FY 19 (refers to the period April 01 to
March 31). However the rating continues to be tempered by short
track record of the entity, presence in highly fragmented industry
and vulnerability of profitability margins due to presence in the
highly volatile agro-commodity business. The rating also continues
to draw its strength from experience of promoters along with
benefits derived from established client network, comfortable
operating cycle and favorable demand outlook for edible oils in
India.
Detailed description of the key rating drivers
Updated for the information available from Registrar of Company
Affairs (ROC)
Key Rating Weaknesses
* Short track record of the entity along with operating and net
losses incurred during the review period: The firm started with its
commercial operations from December 2014; therefore, the firm has
short track record of operations. However, the firm incurred both
operating and net loss during the review period due to fluctuations
in the material costs and finance costs.
* Presence in highly fragmented industry: The specific food habits
of different regions in India have led to preferences of different
types of edible oil. Coconut oil is used widely in the south,
mustard and palm in the north, and groundnut in the west. The urban
centers have witnessed greater demand for sun flower, soya and
rice-bran oils. Thus localization of product off rings has
fragmented the industry and lowered capacity utilization on due to
large number of players and limited availability of raw material.
The edible oil industry consists of approximately 150000 crushing
units, 795 solvent extraction on & refining plants. The capacity
utilization on rate for the industry is lower than 35%. NOAI being
a new entrant in the business of refining edible oil faces intense
competition on from existing players.
* Vulnerability of profitability margins due to presence in the
highly volatile agro-commodity business: The profitability is
greatly influenced by the movement in prices of soya/cotton/mustard
seed, De-oiled Cake (DOC). Prices of soya/cotton/mustard-based
products are governed by the demand-supply dynamics prevalent in
major soya/cotton/mustard growing nations, weather conditions and
prices of substitute edible oils. Domestic production of
soya/cotton/mustard seed, in turn, is dependent on area under
cultivation, vagaries of monsoon, and prices of other crops,
Minimum Support Price (MSP) and incentives offered by Government of
India (GoI). Furthermore, any increase in the seed prices without a
corresponding increase in DOC and edible wash oil prices will
adversely impact already low profitability margins of the entities
in the business of oil refining.
* Leverage capital structure and weak debt coverage indicators: The
capital structure of the firm marked by overall gearing ratio
deteriorated and stood leverage at 1.16x as on March 31, 2019 as
compared to 0.31x and 0.12x as on March 31, 2018 and March 31, 2017
due to increase in the total debt level on back of accretion of
losses to the reserves during the review period. The debt profile
of the firm consists of Term loan of INR 4.92 crore and Working
capital borrowings of INR7.41 crore as on March 31, 2019. The debt
coverage indicators marked by PBILDT interest coverage and TD/GCA
also stood at negative on back of net losses and cash losses during
the review period.
Key Rating Strengths
* Experienced promoters along with benefits derived from
established client network: The promoters of NOAI have a vast
business experience through SOE which was established in the year
1972 and was engaged in solvent extraction of rice bran oil. It was
also engaged in extraction of other edible oils, such as soya and
sun flower oil. Also, NOAI gets benefited from the established
network of SOE regarding marketing and customers. This aids the
firm in smooth operations despite being a new entity in the oil
processing business.
* Comfortable operating cycle: The operating cycle stood
comfortable at 28 days in FY19 as compared to 29 days and 35 days
in FY18 and FY17. The firm generally offers a credit period of 30
days to its customers and receives credit from its suppliers of
around 10 days. Furthermore, it maintains inventory of around 10-20
days.
* Favorable demand Outlook for edible oils in India: The increasing
edible oil consumption in India is mainly attributed to three
factors: economic boom resulting in better standards of living,
decline in edible oil prices and growth in demand for fried
processed food products. The Indian edible oils market continues to
be underpenetrated and given the positive macro and demographic
fundamentals it has a favorable demand growth outlook over the
medium to long term.
Nandagudi Oils and Agro Industries LLP (NOAI) was established on
July 21, 2014; however commercial productions of the firm started
in December 1, 2014. NOAI is a Limited Liability Partnership firm
formed by reorganizing and restructuring the business operations of
Siddaganga Oil Extractions Private Limited to form two separate
LLPs. SOE has transferred all the related assets and liabilities to
NOAI and Siddaganga Oil and Bio Industries LLP respectively. The
partners of the firm are Mr. N J Shivakumar, Mrs. N S Dhanshree,
Mr. N S Kunal and Mr. N S Sagar. NOAI has a solvent extraction
plant for extraction of rice bran, soya and sunflower oil with a
processing capacity of 300 tons of oil per day. Moreover, the firm
has an edible oil refining plant with an installed capacity of 50
tons per day. The major raw material for the firm is rice bran;
yellow soya seeds, nonrefined sun flower oil and cotton seed washed
oil which are procured from local players from Karnataka.
RAMESHWAR COTTEX: ICRA Keeps D Debt Ratings in Not Cooperating
--------------------------------------------------------------
ICRA said the ratings for the INR9.50 crore bank facilities of
Rameshwar Cottex continue to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]D; ISSUER
NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 7.00 [ICRA]D ISSUER NOT COOPERATING;
Cash Credit Rating continues to remain
under the 'Issuer Not
Cooperating' category
Fund-based– 2.50 [ICRA]D ISSUER NOT
COOPERATING;
Term Loan Rating continues to remain
under the 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.
Established in April 2016, as a partnership firm, Rameshwar Cottex
(RC) is involved in cotton ginning and pressing to produce cotton
bales and cottonseeds and in trading of raw cotton at its
manufacturing facility located in Rajkot, Gujarat. Its facility is
equipped with 36 ginning machines and a pressing machine with an
installed production capacity of 54 MTPD or 320 bales per day. The
firm set up its manufacturing facility in November 2015 and
commercial operations commenced from January 2016. The promoters
associated with the firm have vast experience in agro-commodities.
RELIANCE NAVAL: NCLAT Directs Excluding Lockdown Phase in CIRP
--------------------------------------------------------------
BloombergQuint reports that the National Company Law Appellate
Tribunal (NCLAT) on Oct. 8 directed to exclude the lockdown
phase--March 25 to Aug. 31, 2020--while computing the insolvency
resolution period for Anil Ambani-led Reliance Naval And
Engineering Ltd.
BloombergQuint relates that the NCLAT direction came after a
petition filed by the resolution professional of Reliance Naval and
Engineering, challenging the order of the Ahmedabad-bench of the
National Company Law Tribunal.
The NCLT had on Aug. 20, 2020, though granted an extension of 90
days to the resolution professional to complete the Corporate
Insolvency Resolution Process beyond 180 days, but declined to
exclude the lockdown period on the ground that 90 days period of
the extension was still in hand, according to BloombergQuint.
BloombergQuint says Reliance Naval and Engineering contended that
its corporate office, located in Maharashtra has been worst hit,
with most of the areas declared Red Zone, culminating in the
extension of the lockdown till Aug. 31, 2020 and this hardship was
required to be mitigated.
A three-member NCLAT bench headed by Acting Chairperson Justice BL
Bhat allowed the appeal, BloombergQuint says.
"We allow this appeal by directing that the period of lockdown
w.e.f. March 25, 2020 till Aug. 31, 2020 shall be excluded while
computing the period of CIRP.
"To avoid any confusion/ambiguity, we make it clear that this
direction will not in any case be construed as interference with
the extension of 90 days' time granted by the NCLT, which shall
begin only after the expiry of the period of CIRP period of 180
days after excluding the period from March 25, 2020 up to Aug. 31,
2020," it said.
Under the Insolvency and Bankruptcy Code, CIRP of the debt-ridden
firm has to be completed within 180 days or within the extended
period of 90 days and mandatorily be completed within 330 days,
including any extension and the time taken in legal proceedings.
Failing to this, the debt-ridden company has to go for liquidation,
the report notes.
Meanwhile, the NCLAT also said: "We make it clear that this order
will not serve as a precedent in all cases as it has been passed in
the peculiar circumstances of the instant case".
Reliance Naval and Engineering's CIRP is undergoing since Jan. 15
this year.
About Reliance Naval
Reliance Naval and Engineering Limited designs and constructs
warships and submarines. The Company offers offshore patrol and
research vessels, frigates, corvettes, aircraft carriers, and
destroyers, as well as piping, propeller, trilshaft, rudder,
coating, and machinery repair and maintenance services. Reliance
Naval and Engineering serves oil and gas sectors worldwide.
As reported in the Troubled Company Reporter-Asia Pacific on Jan.
22, 2020, The Hindu said that the Ahmedabad bench of the National
Company Law Tribunal (NCLT) has admitted an application against
Reliance Naval and Engineering Limited (R-Naval) for insolvency.
"The application by IDBI Bank Ltd. for a claim of INR1,159.43 crore
before the NCLT Ahmedabad bench has been admitted," R-Naval said in
a filing with the exchanges.
This is the second Reliance Group firm to go for insolvency after
Reliance Communications, the Hindu disclosed. The company had total
outstanding dues of INR9,534 crore as on December 31, 2019. It
reported a net loss of INR340 crore on net sales of INR20.5 crore
for the second quarter ended September 30, 2019.
ROYALICA TILES: ICRA Keeps B/A4 Debt Rating in Not Cooperating
--------------------------------------------------------------
ICRA said the rating for the INR7.07 crore bank facilities of
Royalica Tiles continues to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]B
(Stable)/A4; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Proposed 7.07 [ICRA]B (Stable)/A4; ISSUER
Unallocated NOT COOPERATING; Rating
Limits continues to remain under
'Issuer Not Cooperating'
Category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.
Royalica Tiles will initially engage in manufacturing of digital
vitrified parking tiles of two sizes i.e. 12"x12" and 8"x24". The
plant of the company is located in Morbi, Gujarat. The plant has an
installed capacity of 51300 MTPA (9000 boxes) of digital vitrified
parking tiles. RT is likely to commence its trial runs from July
2016 and commercial production from August 2016.
SHAH TILES: ICRA Keeps B+ Debt Ratings in Not Cooperating
---------------------------------------------------------
ICRA said the ratings for the INR16.55-crore bank facilities of
Shah Tiles Private Limited (STPL) continue to remain under 'Issuer
Not Cooperating' category'. The Long term ratings are denoted as
"[ICRA]B+(Stable) ISSUER NOT COOPERATING" and the Short term
ratings are denoted as "[ICRA]A4 ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term– 7.50 [ICRA]B+ (Stable); ISSUER NOT
Fund Based- COOPERATING; Rating Continues
Cash Credit to remain under 'Issuer Not
Cooperating' category
Long Term- 7.14 [ICRA]B+ (Stable); ISSUER NOT
Fund Based- COOPERATING; Rating Continues
Term Loan to remain under 'Issuer Not
Cooperating' category
Short Term- 1.91 [ICRA]A4; ISSUER NOT
Non Fund Based COOPERATING; Rating Continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best available/dated/
limited information on the issuers' performance. Accordingly, the
lenders, investors and other market participants are advised to
exercise appropriate caution while using this rating as the rating
may not adequately reflect the credit risk profile of the entity.
Shah Tiles Private Limited (STPL) was incorporated in 1992, while
commercial production commenced from 1993. The company is owned and
managed by Mr. Hemant Akhani and Mrs. Dipti Akhani. STPL
manufactures soluble salt vitrified tiles of 605mm x 605mm size,
which find wide application in commercial and residential
buildings.
SHIV SHAKTI: ICRA Keeps B+ Debt Ratings in Not Cooperating
----------------------------------------------------------
ICRA said the ratings for the INR23.75 crore bank facilities of
Shiv Shakti Industries continue to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as [ICRA]B+ (Stable);
ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based TL 3.75 [ICRA]B+ (Stable); ISSUER NOT
COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Fund based CC 20.00 [ICRA]B+ (Stable); ISSUER NOT
COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.
Established in 2013, Shiv Shakti Industries is a partnership firm
with Mr. Soham Purohit and Manisha Purohit as partners. The firm is
engaged in the business of ginning and pressing of raw cotton as
well as crushing of cottonseeds with processing capacity of around
150 TPD of raw cotton. The firm is equipped with 24 ginning
machines and 1 Pressing machine having capacity to produce 250
bales per day. The firm is also equipped with 10 expellers having
capacity to produce 10,500 kgs. of oil per day. The saleable
products of the firm include cotton bales, cotton seeds, cottonseed
oil and cottonseed cakes.
SURYA OIL: ICRA Keeps B+ Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
ICRA said the ratings for the INR10.79 crore bank facilities of
Surya Oil & Agro Industries continue to remain under the 'Issuer
Not Cooperating' category. The rating is denoted as [ICRA]B+
(Stable); ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund-based– 7.00 [ICRA]B+ (Stable); ISSUER NOT
Cash Credit COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Fund-based– 3.79 [ICRA]B+ (Stable); ISSUER NOT
Unallocated COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.
Established in August 2011, Surya Oil and Agro Industries (SOAI) is
a partnership firm engaged in refining of edible cottonseed oil and
maize oil. SOAI is promoted by Mr. Sanket Zalaria, Mr. Narottam
Patel and Mr. Jateen Adroja. The firm also carries out trading of
other edible oils such as Sunflower oil, sesame oil, rice bran oil
etc. SOAI operates from its plant located in Wankaner, Rajkot with
a total installed capacity of refining 100 MT of edible oil per
day.
TEZALPATTY TEA: CARE Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Tezalpatty
Tea Private Limited (TTPL) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 6.35 CARE D; Issuer not cooperating;
Facilities Based on best available
information
Detailed Rationale & Key Rating Drivers
CARE has been seeking information from TTPL to monitor the rating
vide e-mail communications/letters dated September 14, 2020,
September 16, 2020, September 17, 2020 and numerous phone calls.
However, despite repeated requests, the entity has not provided the
requisite information for monitoring the rating. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the publicly available information which, however, in CARE's
opinion is not sufficient to arrive at a fair rating. Further,
Tezalpatty Tea Private Limited has not paid the surveillance fees
for the rating exercise as agreed to in its Rating Agreement. The
rating on Tezalpatty Tea Private Limited's bank facilities will now
be denoted as CARE D; ISSUER NOT COOPERATING. Further, banker could
not be contacted.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
The rating of bank facility of Tezalpatty Tea Private Limited takes
into account on-going delay in servicing of its debt obligation.
Tezalpatty Tea Private Limited (TTPL) was established in 1994 by
Mrs. Rumena Rehman, Mr. Nilufar Rehman and Mr. Atikur Rehman. The
company is engaged in the processing of black tea and has an
installed capacity of 10 lakh kg per annum. The manufacturing
facility is located at Guwahati, Assam.
ULTRA HOME: CARE Keeps D Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Ultra Home
Construction Private Limited (UHCPL) continues to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 204.56 CARE D; Issuer not cooperating;
Facilities Based on best available
information
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated March 13, 2018, placed the
rating of UHCPL under the 'issuer non-cooperating' category as
UHCPL had failed to provide information for monitoring of the
rating. UHCPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails dated August
4, 2020; September 7, 2020 and September 14, 2020. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the best available information which however, in CARE's opinion
is not sufficient to arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Detailed description of the key rating drivers
At the time of last rating on August 26, 2019 the rating takes into
account the continuation in delays in servicing of debt by the
company.
M/s Ultra Home Construction Private Limited (UHCPL) was
incorporated in April 2004 as a private limited company to carry
out real estate development in both residential and commercial
segment. UHC founded by Mr. Anil Kumar Sharma is the flagship
company of Amrapali group; the group has more than 16 years of
experience with completed projects (both residential and
commercial) spread over 100 acres in Delhi-NCR and Greater Noida
market. UHC had undertaken a commercial project Amrapali Tech-Park
in April 2010. UHC had completed the said project in FY14 at a
total cost of INR722 cr. In 2019, the Promoters of the company are
sent behind the bars in an alleged case of defrauding homebuyers.
UNIWORLD SUGARS: CARE Keeps D Debt Rating in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Uniworld
Sugars Private Limited (USPL) continues to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 60.00 CARE D; Issuer not cooperating;
Facilities Based on best available
information
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated August 27, 2019, placed the
rating of USPL under the 'issuer non-cooperating' category as USPL
had failed to provide information for monitoring of the rating.
USPL continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and email
dated August 28, 2020. In line with the extant SEBI guidelines,
CARE has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Detailed description of the key rating drivers
At the time of last rating on August 27, 2019 the following were
the rating weaknesses.
Key Rating Weaknesses
* Delay in servicing of debt obligations: There have been on-going
delays by USPL in servicing of its debt obligations, resulting from
stressed liquidity.
USPL is an equal joint venture between ED & F Man Sugar Netherlands
BV (EDF), one of the largest commodity traders in the world markets
and Simbhaoli Sugars Limited (SSL), having one of the largest sugar
refineries in India. USPL is engaged in refinery operations which
processes raw sugar into white refined sugar though ION exchange
process and sells its product under the brand name "Tiger". SSL and
EDF formed a joint venture to set up a manufacturing facility at
the port of Kandla, Gujarat with a capacity to refine 1000 metric
tonnes of raw sugar per day into white refined sugar.
URVESH PSYLLIUM: ICRA Cuts Rating on INR11.40cr LT Loan to B+
-------------------------------------------------------------
ICRA has revised the ratings on certain bank facilities of Urvesh
Psyllium Industries Ltd. (UPIL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 11.40 [ICRA]B+ (Stable) ISSUER NOT
Fund Based– COOPERATING; Rating
downgraded
Cash Credit from [ICRA]BB- (Stable) ISSUER
NOT COOPERATING and continues
to remain under 'Issuer Not
Cooperating' category
Short Term- 0.44 [ICRA]A4 ISSUER NOT
Non Fund Based- COOPERATING; Rating continues
Forward Cover to remain under 'Issuer Not
Cooperating' category
Rationale
The rating is downgraded because of lack of adequate information
regarding UPIL performance and hence the uncertainty around its
credit risk. ICRA assesses whether the information available about
the entity is commensurate with its rating and reviews the same as
per its "Policy in respect of non-cooperation by the rated
entity".
The lenders, investors and other market participants are thus
advised to exercise appropriate caution while using this rating as
the rating may not adequately reflect the credit risk profile of
the entity, despite the downgrade.
As part of its process and in accordance with its rating agreement
with Urvesh Psyllium Industries Ltd, ICRA has been trying to seek
information from the entity so as to monitor its performance, but
despite repeated requests by ICRA, the entity's management has
remained non-cooperative. In the absence of requisite information
and in line with SEBI's Circular No. SEBI/HO/MIRSD4/CIR/2016/119,
dated November 1, 2016, ICRA's Rating Committee has taken a rating
view based on the best available information.
Urvesh Psyllium Industries Ltd. (UPIL) was established in 1949 as
Rajendra Brothers and subsequently in 1995 the firm was converted
into a limited company under its present name. UPIL is primarily
involved in the business of manufacturing psyllium husk and
psyllium husk powder from psyllium seeds at its manufacturing
facility located at Unjha-Sidhpur region of Gujarat and has an
output capacity of ~4000 MT of psyllium husk per annum. The company
is managed by Mr. Mayank Patel, Mr. Urvesh Patel and their family
members who are also associated with other psyllium
processing firms — Unjha Formulations Ltd, Mayank & Co, Urvesh &
Co, Gangotri Isabgul Industries, Rajratna Isabgul Industries, Dipak
Industries and Himalaya Cold Storage.
VAIJANATH INDUSTRIES: CARE Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Shri
Vaijanath Industries Private Limited (SVIPL) continues to remain in
the 'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 6.10 CARE D; Issuer not cooperating;
Facilities Based on best available
information
Short Term Bank 0.31 CARE D; Issuer not cooperating;
Facilities Based on best available
information
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated July 30, 2019, placed the
rating(s) of SVIPL under the 'issuer non-cooperating' category as
the company had failed to provide information for monitoring of the
rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. The company
continues to be non-cooperative despite repeated requests for
submission of information through e-mails dated August 31, 2020 and
September 11, 2020. In line with the extant SEBI guidelines, CARE
has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
Detailed description of the key rating drivers
At the time of last rating on July 30, 2019 the following were the
strengths and weaknesses.
Key Rating Weakness
* Delays in debt servicing: The financial risk profile of the
company is marked by declining income and operating margins,
adverse capital structure, negative cash accruals and stretched
liquidity position evidenced by persistent overdraws in CC account
and delays in debt servicing.
* Modest and small scale of operations with continuous losses:
The total operating income of the company decreased from INR12.09
crore in FY16 to INR11.54 crore in FY18. The PAT has decreased and
stood at INR -0.36 crore in FY18. Weak financial risk profile
marked by decline in operating margins and adverse capital
structure. The debt equity ratio and overall gearing ratio of the
SVIPL remained highly leveraged as on March 31, 2018, due to
erosion of net worth on account of accumulated losses.
* Elongated Operating cycle: The operating cycle of the company
increased from 91 days in FY16 to 110 days in FY18 due to increase
in average inventory days, average collection period and average
creditors period.
Key Rating Strengths
* Experienced promoters and management team: SVIPL was incorporated
in the year 2008 by the Huddar family. The promoters of the company
Mr. Parashram, Mr. Girish and Mr. Namdev have 30yrs experience each
supported by professionals with adequate experience.
Shri Vaijanath Industries Private Limited (SVIPL) was incorporated
on 13th July 2008; it is involved in the business of forging and
started its commercial production in 2010. The company has its own
manufacturing unit in Kolhapur. The products of the company find
their application in automobiles and CNC machines.
VANSHIKA SUGAR: ICRA Keeps B+ Debt Ratings in Not Cooperating
-------------------------------------------------------------
ICRA said the ratings for the INR36.50-crore bank facilities of
Vanshika Sugar & Power Industries Limited continue to remain under
'Issuer Not Cooperating' category'. The ratings is denoted as
"[ICRA]B+(Stable) ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Cash Credit 14.50 [ICRA]B+(Stable) ISSUER NOT
COOPERATING; Rating continues
to remain in the 'Issuer Not
Cooperating' category
Term Loan 12.00 [ICRA]B+(Stable) ISSUER NOT
COOPERATING; Rating continues
to remain in the 'Issuer Not
Cooperating' category
Unallocated 10.00 [ICRA]B+(Stable) ISSUER NOT
COOPERATING; Rating continues
to remain in the 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best available
information on the issuers' performance. Accordingly, the lenders,
investors and other market participants are advised to exercise
appropriate caution while using this rating as the rating may not
adequately reflect the credit risk profile of the entity. The
rating action has been taken in accordance with ICRA's policy in
respect of non-cooperation by a rated entity available at
www.icra.in.
The company Vanshika Sugar and Power Industries Limited (VSPIL),
incorporated in 2012, is engaged in the business of manufacturing
of White Crystal Sugar and sale of its by-product. The company's
cane processing plant is at Narsinghpur in Madhya Pradesh with an
installed capacity of 2,500 tonnes of canes crushed per Day (TCD).
VIJAY STONE: ICRA Keeps B+ Debt Ratings in Not Cooperating
----------------------------------------------------------
ICRA said the ratings for the INR10.00-crore bank facilities of
Vijay Stone Quarries Private Limited continue to remain under
'Issuer Not Cooperating' category'. The ratings are denoted as
[ICRA]B+(Stable)/[ICRA]A4 ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 0.27 [ICRA]B+(Stable) ISSUER NOT
Fund Based- COOPERATING; Rating continues
Term Loan to remain in the 'Issuer Not
Cooperating' category
Short Term- 1.50 [ICRA]A4 ISSUER NOT
Fund Based– COOPERATING; Rating continues
Packing Credit to remain in the 'Issuer Not
Cooperating' category
Short Term- 3.50 [ICRA]A4 ISSUER NOT
Fund Based– COOPERATING; Rating continues
FDBP/FUBP/OD to remain in the 'Issuer Not
Cooperating' category
Long Term- 4.73 [ICRA]B+(Stable) ISSUER NOT
Unallocated COOPERATING; Rating continues
to remain in the 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best available
information on the issuers' performance. Accordingly, the lenders,
investors and other market participants are advised to exercise
appropriate caution while using this rating as the rating may not
adequately reflect the credit risk profile of the entity. The
rating action has been taken in accordance with ICRA's policy in
respect of non-cooperation by a rated entity available at
www.icra.in.
Vijay Stone Quarries Private Limited was incorporated in 1991 by Mr
M Ramesh and his brothers. The directors have an experience of more
than 25 years in quarrying and export of lime stone and slate
stone. The company is involved in the quarrying of lime stone, sand
stone and slate. The entire sale is made in international market to
countries like USA, UK, France, Belgium, Japan, China and others.
=================
I N D O N E S I A
=================
INDIKA ENERGY: Fitch Assigns BB- Rating to Proposed USD Notes
-------------------------------------------------------------
Fitch Ratings has assigned a rating of 'BB-' to PT Indika Energy
Tbk's (Indika, BB-/Negative) proposed US dollar notes.
The proposed notes will be issued by Indika's wholly owned
subsidiary, Indika Energy Capital IV PTE. LTD. The proposed notes
are rated at the same level as Indika's Issuer Default Rating (IDR)
as they constitute direct, unsubordinated and unsecured obligations
of the company. Indika plans to use the proceeds from the proposed
notes repay some of its existing debt.
The Negative Outlook on Indika's rating continues to reflect the
low rating headroom, as Fitch expects the company's FFO net
leverage to increase to 6.0x in 2020 and remain between 2.7x and
3.2x from 2021 to 2024, relative to its negative sensitivity of
3.0x. Fitch expects Indika's EBITDA to decline by about 30% to
USD280 million in 2020, from USD405 million in 2019, due mainly to
weaker coal prices, lower coal sales volume and a temporary
production stoppage at a client of the contract-mining division.
Fitch forecasts Indika's EBITDA will recover to around USD450
million per annum from 2021, factoring in its assumptions on
improving coal prices, lower mining costs and higher contract
mining volume.
Indika's ratings take into account its ability to meaningfully
curtail operating costs amid weaker coal prices, the improving
credit profile at its contract-mining operations, its capex
flexibility and the potentially lower sensitivity of the group to
weaker coal prices as a result.
KEY RATING DRIVERS
Lower Mining Costs Support Earnings: Indika has been able to
meaningfully curtail the operating costs at its 91%-owned key
mining subsidiary, PT Kideco Jaya Agung, by around USD4/tonne to
USD27.2/tonne in 1H20 from USD31.2/tonne in 2019. The drop was due
to a reduction in Kideco's strip ratio to 5.6x in 1H20 from 6.3x in
2019, lower contract mining rates to third-party contractors and
declining fuel costs. Fitch expects Kideco's strip ratios to stay
at around 5.4x-5.6x over the next seven years, considering Indika's
revised mining plans after the exploration activity over the past
24 months.
Fitch expects Kideco's lower mining costs to mitigate the impact of
weaker selling prices and volume in 2020. Lower costs will also
more than compensate for its weaker price and volume assumptions
from 2021. Fitch expects Kideco's EBITDA to decline to USD140
million in 2020 from USD230 million in 2019, but recover to around
USD220 million-250 million from 2021 despite the recent revision in
its coal price assumptions. Fitch estimates Kideco's average coal
selling price will fall to around USD38/tonne in 2020 and recover
to USD41-42/tonne from 2021 (2019: USD45/tonne).
Petrosea's Stronger Customer Mix: Fitch believes the increasing
exposure of Indika's 70%-owned contract-mining subsidiary, PT
Petrosea Tbk, to Kideco will benefit Indika's credit profile.
Petrosea has streamlined its client mix to only Kideco and PT Bayan
Resources Tbk (BB-/Stable), two of Indonesia's strongest coal
miners. Fitch thinks this will result in a significant improvement
in the stability of Petrosea's long-term earnings profile, with
considerably lower risks of a rate reduction during renegotiations
in a downturn.
Petrosea's contract-mining EBITDA, however, fell by 22% in 1H20 on
an annualised basis due to the production stoppage at Bayan for
around two months until May 2020 due to caution over the
coronavirus at the mine site. Nevertheless, Petrosea was able to
curtail its operating costs by more than Fitch expected, resulting
in a lower impact on its EBITDA. Petrosea will account for only
about 40% of Kideco's volume, leaving potential for further
integration although the group has no immediate plans. Fitch would
consider any significant increase in integration between Kideco and
Petrosea as credit positive.
Capex Flexibility: Indika has been able to curtail capex during
coal-price downcycles as most of its capex was for the expansion of
Petrosea's contract-mining capacity. Indika cut back capex to USD23
million in the previous coal downturn in 2016. Fitch, however, does
not forecast any significant cuts to the long-term capex as Fitch
expects a coal-price recovery from 2021.
Evolving Investment Strategy: Indika plans to increase its earnings
from more non-coal-related operations. Fitch thinks Indika's recent
investments in fuel-storage facilities are less risky as the
earnings of these projects with oil majors are under take-or-pay
contracts. Indika also recently invested in a greenfield gold
project, although its investment is small. Fitch expects the
company to continue to evaluate non-coal investments. Fitch
considers these latest investments as credit neutral but will
regard any major investments as event risks.
Licence Renewals: Fitch expects the mining licence of Kideco to be
extended upon its expiry in 2023 without any major impact on the
credit profile, and will consider any significant negative
development in concession renewals, including non-renewal, as an
event risk. Indonesia in June clarified some licence aspects,
including the continuation of acreage and the extension of licences
over two 10-year periods, but has not yet clarified revised tax and
royalty structures. Fitch expects some clarity over the next few
months in light of the licence expiry of PT Arutmin Indonesia,
another coal miner, in November 2020.
DERIVATION SUMMARY
Indika's ratings are driven by Kideco's moderate cost position,
production flexibility, reasonable reserves and large capacity,
which require little capex. The similar ratings of Bayan reflect
its lower-cost position, larger reserves and a healthier financial
profile with considerably lower sensitivity to price and volume
assumptions than Indika. Bayan has faced operational disruptions
due to bottlenecks in its transport infrastructure, which constrain
its ratings. Indika's operations are more integrated and have a
stronger record of uninterrupted production.
The energy-adjusted cost position of Indika's mining operations is
stronger than that of Golden Energy and Resources Limited (GEAR,
B+/Stable). Indika's operations are also more integrated than that
of GEAR. Indika's higher ratings reflect its large scale of
earnings, robust operational record and more integrated operations.
GEAR's ratings are constrained until it is able to sustainably
improve the scale of operations for the group.
KEY ASSUMPTIONS
Fitch's Key Assumptions Within Its Rating Case for the Issuer
- Kideco's average coal selling price to decline to USD38/tonne
in 2020 from USD45/tonne in 2019. Prices to recover to
USD41-42/tonne from 2021
- Kideco's coal mining volume to decline to 32 million tonnes per
annum (mtpa) in 2020 from 35mpta in 2019. Volume to recover to
33mtpa to 34mtpa from 2021
- Kideco's cash production costs to drop to between USD32/tonne
and USD33/tonne starting 2020 from USD37/tonne in 2019
- EBITDA at Petrosea to decline to USD110 million in 2020 from
USD127 million in 2019. Petrosea EBITDA forecast to increase to
over USD140 million from 2021.
- Consolidated investment and capex of USD100 million in 2020 and
USD110 million-180 million per annum from 2021 to 2024. Majority of
capex from 2020 to be incurred for equipment purchases at Petrosea
and the completion of its fuel-storage project
RATING SENSITIVITIES
Factors that could, individually or collectively, lead to positive
rating action/upgrade:
- Fitch does not expect an upgrade as the Outlook on the company
is Negative. The Outlook will be revised to Stable if Indika is
able to sustain credit metrics at levels stronger than its negative
sensitivities from 2021, which would be driven by a recovery of
coal prices and volume.
Factors that could, individually or collectively, lead to negative
rating action/downgrade:
- Indika's FFO net leverage is sustained above 3.0x and/or its
FFO fixed-charge coverage falls below 3.5x in 2021 and beyond
- Any weakness or challenges in successfully addressing lumpy
debt maturities
LIQUIDITY AND DEBT STRUCTURE
Proposed Notes to Refinance 2022-2023 Maturities: Indika's proposed
notes issuance will be used to fully redeem its USD265 million
notes in 2022 and partially redeem its USD285 million notes due in
2023. Indika's liquidity profile would significantly benefit
following the proposed notes issuance, as it would not have any
major debt maturities until November 2024, when its USD575 million
senior unsecured notes are due. Indika has other debt maturities of
less than USD100 million per annum until 2024.
Fitch expects Indika to pay USD210 million in 2022 to the previous
shareholders of Kideco upon the extension of the mining licence.
Indika's consolidated cash balance is healthy, at USD488 million as
of June 2020, although a large part of this is held under its
operating subsidiaries. Fitch thinks Indika's refinancing risk is
low due to its proactive liquidity and liability management, and a
record of raising funds.
ESG CONSIDERATIONS
Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.
REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING
The principal sources of information used in the analysis are
described in the Applicable Criteria.
ESG CONSIDERATIONS
Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.
=========
N E P A L
=========
RAM SUGAR: Cane Farmers Demand Payment of Outstanding Dues
----------------------------------------------------------
Krishana Prasain at Kathmandu Post reports that two months after
Shree Ram Sugar Mill in Rautahat was forced to shut down due to its
piling losses, an association of sugarcane producers on Oct. 11
knocked the door of a parliament body requesting it to make efforts
to get the mill to settle the outstanding dues owed to farmers.
A memorandum was submitted by the Sugarcane Producers Association
to the parliamentary Industry, Commerce, Labour and Consumer
Welfare Committee that deals with various consumer related issues,
the report says.
According to the Post, the association has asked the parliamentary
body to make the mill liable to pay the farmers dues before the
Dashain festival.
The Post relates that the association said that the mill owes them
NPR410 million in outstanding payments, which is pending since the
fiscal year 2014-15. On July 26, Shree Ram Sugar Mill shut down its
operation by publishing a notice.
It said that due to continued losses in the business, it had to be
shut down, the report relays.
The association said that the mill has also not paid workers their
salaries for five months worth around NPR40 million.
The Post says the association has also demanded the factory to be
reopened. "We urge the government to implement our demand," states
the memorandum.
The Post reports that Bimal Prasad Shrivastav, chairperson of the
parliamentary committee, said that the committee held a discussion
with the mill owner on Oct. 11.
"We will discuss the issue with the Industry Minister in the next
meeting before taking the final decision," Shrivastav told the
Post.
However, due to the situation created by the Covid-19 pandemic, the
demand put forth by the sugarcane farmers to get their payment
before Dashain is low, he said.
"But we have asked the mill management to make some payment to the
farmers and employees as the festival is nearing," he added.
Shree Ram Sugar Mill, Annapurna Sugar Mill of Sarlahi, Indira Sugar
Mill of Nawalparasi have millions in unpaid dues owed to sugarcane
farmers, said Kapil Muni Mainali, president of Federation of
Sugarcane Producers Association, the Post relays.
According to the report, the industry minister had summoned the
owners of these mills in December last year and they had pledged to
release the payment within one and half months. "But they have not
released a penny," he said.
Shree Ram Sugar Mill is operated by Hitesh Golchha of Golchha
Organization and started crushing sugarcane from 1994. Around
18,000 farmers in Rautahat district are engaged in sugarcane
farming which is a major source of income to them.
Around 600 employees have lost their jobs and hundreds more have
been affected indirectly after the mill closed down, the Post
notes. They have lost their income source amid the ongoing Covid-19
crisis, according to the association.
Shree Ram Sugar Mill had agreed to release the pending payment by
selling the land of the mill but that did not happen, the Post
states.
Shree Ram has been purchasing sugarcane from farmers in Bara, Parsa
and Rautahat with an annual consignment of 140,000 tonnes of
sugarcane grown on 8,000 bighas of land.
Shree Ram resumed operations on February 12 following pressure from
the government, but it shut down again two weeks later after
crushing 3,800 tonnes of sugarcane, citing lack of raw materials,
the Post adds.
=====================
P H I L I P P I N E S
=====================
MALASIQUI PROGRESSIVE: Insurance Claims Deadline Set for Oct. 16
----------------------------------------------------------------
The Philippine Deposit Insurance Corporation (PDIC) announced that
depositors of the closed Malasiqui Progressive Savings and Loan
Bank, Inc. have until October 16, 2020 to file their deposit
insurance claims.
Based on latest PDIC data, deposit insurance claims for 68 deposit
accounts with aggregate insured deposits amounting to PhP0.79
million have yet to be filed by depositors. Data also showed that
as of July 31, 2020, PDIC had paid depositors of the closed
Malasiqui Progressive Savings and Loan Bank, Inc. the total amount
of PhP59.6 million, corresponding to 98.6% of the bank's total
insured deposits amounting to PhP60.4 million.
Depositors are advised to file their claims either online via
electronic mail (email) at pad@pdic.gov.ph or through postal mail
or courier addressed to the PDIC Public Assistance Department, 6th
Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street,
Makati City.
Claims may also be filed personally at the PDIC's Public Assistance
Center in Makati City on a per appointment basis. To make an
appointment, depositors may call the Public Assistance Hotline at
(02) 8841-4141 or at Toll Free number 1-800-1-888-7342 or
1-800-1-888-PDIC, send an e-mail to pad@pdic.gov.ph, or send a
private message at PDIC's official Facebook account,
www.facebook.com/OfficialPDIC.
When filing claims through e-mail, scanned copies or photo images
of the signed and accomplished Claim Form, evidence of deposit
(i.e., savings passbook, certificate of time deposit, etc.), and
one valid photo-bearing ID with the depositor's signature should be
attached to the e-mail. Scanned copy or photo image of the first
and last page of the passbook, or the front and back
portion of the certificate of time deposit should be sent as e-mail
attachments.
For claims filed personally or via postal mail or courier service,
depositors are advised to enclose the accomplished and signed Claim
Form, original Savings Passbook and/or Certificate of Time Deposit
and photocopy of one (1) valid photo-bearing ID with depositor's
signature.
The depositors are further advised that additional documents and/or
original copy of documents submitted via e-mail may be required by
PDIC, as necessary, in the course of evaluation and processing of
claims.
The Claim Form can be downloaded from the PDIC website
http://www.pdic.gov.ph/files/New_PDIC_Claim_Form.pdf.The Claim
Form is free and there is no fee for filing deposit insurance
claims.
Depositors who are below 18 years old should mail or submit either
a photocopy of their Birth Certificate issued by the Philippine
Statistics Authority (PSA) or a duly certified copy issued by the
Local Civil Registrar. Representatives of claimants are required to
mail or submit an original copy of a notarized Special Power of
Attorney of the depositor or parent of a minor depositor. The
Special Power of Attorney template may be downloaded from the PDIC
website.
Depositors who have been notified of their documentary deficiencies
through official letters from PDIC are requested to comply with the
indicated requirements. The procedures and requirements for the
filing of deposit insurance claims are posted in the PDIC website.
The last day for filing deposit insurance claims was moved to
October 16, 2020 from August 17, 2020 to allow the depositors more
time to prepare the required documents before filing their claims,
and to ensure that affected depositors are not disenfranchised
because of the enhanced community quarantine.
Under the PDIC Charter, depositors are given two years from bank
takeover to file deposit insurance claims with the PDIC. Malasiqui
Progressive Savings and Loan Bank, Inc. was taken over by the PDIC
on August 17, 2018 after it was ordered closed by the Monetary
Board of the Bangko Sentral ng Pilipinas on August 16, 2018.
Depositors who will not be able to file their deposit insurance
claims with PDIC on or before October 16, 2020 may file a claim
against the assets of the bank with the Regional Trial Court -
Branch 48, Urdaneta City, Pangasinan where the Petition for
Assistance in the Liquidation (PAL) of Malasiqui Progressive
Savings and Loan Bank, Inc. is pending under Sp. Proc. No.
SEC-U-165. Payment of these claims shall be subject to availability
of assets of the closed bank, legal priority and approval of the
Liquidation Court.
Depositors who have outstanding loans or payables to the bank will
be referred to the duly designated Loans Officer prior to the
settlement of their deposit insurance claims.
=================
S I N G A P O R E
=================
HYFLUX: Asks Utico to Address Concerns Raised by Creditor Groups
----------------------------------------------------------------
Nisha Ramchandani at The Business Times reports that Hyflux Ltd has
asked its Middle Eastern suitor Utico to address concerns flagged
by creditor groups before a virtual townhall can be held for the
water treatment firm's perpetual securities and preference shares
(PnP) investors.
BT relates that in a letter to Utico that was released to the
Singapore Exchange late Friday night [Oct. 9], Hyflux independent
director Lau Wing Tat said: "Hyflux's position is that, prior to
any such townhall being organised, Utico should first set out
clearly how it intends to deal with concerns raised by the various
creditor groups; and if necessary, provide revised terms for the
creditors' consideration." In this way, the townwall will be useful
and will not waste time and resources, Mr Lau added.
Mr. Lau also highlighted in the letter that the Securities
Investors Association (Singapore), or Sias, does not intend to
endorse Utico's offer based on its current terms, and that Utico
has yet to convince the medium-term note (MTN) informal steering
committee and/or the unsecured working group (UWG) to support
Utico's current offer, BT relays.
According to BT, Hyflux's letter made reference to an earlier
letter from Utico on Oct 9. In that letter, Utico requested for a
virtual townhall to be arranged by Hyflux with investors of the
firm's PnP on either Saturday afternoon [Oct. 10] or Sunday evening
[Oct. 11].
In the letter, Utico noted that Sias had received "few responses"
to their letter to P&P on Sept. 25, which was based on Utico's
offer on July 23. Of those who had responded, "majority have
accepted Utico's proposal", the Middle Eastern utility provider
said, adding that the July offer does not release Hyflux's
directors, deeming it acceptable based on a condition put forward
by some respondents, BT relates.
BT says the suitor went on to highlight that it has been the only
party to conduct two townhalls for P&P holders, of which the first
was attended by some 450-500 people and the second by about 50-70
people. "Majority (of) respondents/participants have accepted
Utico's proposal," Utico said in the letter.
Utico added: "We also noted from the recent Hyflux affidavit, it
states Pison (Investments) has made an offer to P&P. This is
contrary to the Sias letter of Oct. 7. This may also be explained."
Pison and Aqua Munda are other potential Hyflux suitors.
On Oct. 10, Utico followed up Hyflux's letter with a statement that
was released to the media. In the latest statement, Utico
reiterated that it remained ready for a virtual townhall on Sunday
evening [Oct. 11], according to BT.
"Hyflux (on Saturday) delayed the P&P virtual townhall to give
Pison time to make an offer to P&P working with Sias. However, Sias
issued a letter to Hyflux on Oct. 7 that there are no offers to P&P
than than Utico," Utico, as cited by BT, said in the statement.
"It is interesting to note that as per Hyflux's own statement, UWG
has asked Pison to ensure P&P agrees to their offer, prior to UWG
engaging with investors including Pison," Utico went on to say.
"Three representative sample votes from P&P have given majority
approval for Utico's offer so far - the only approvals Hyflux has
received for any offer to P&P," Utico added.
About Hyflux
Singapore-based Hyflux Ltd -- https://www.hyflux.com/ -- provides
various solutions in water and energy areas worldwide. The company
operates through two segments, Municipal and Industrial. The
Municipal segment supplies a range of infrastructure solutions,
including water, power, and waste-to-energy to municipalities and
governments. The Industrial segment supplies infrastructure
solutions for water to industrial customers. It has business
operations across Asia, Middle East and Africa.
As reported in the Troubled Company Reporter-Asia Pacific on May
24, 2018, Hyflux Ltd. said that the Company and five of its
subsidiaries, namely Hydrochem (S) Pte Ltd, Hyflux Engineering Pte
Ltd, Hyflux Membrane Manufacturing (S) Pte. Ltd., Hyflux Innovation
Centre Pte. Ltd. and Tuaspring Pte. Ltd. have applied to the High
Court of the Republic of Singapore pursuant to Section 211B(1) of
the Singapore Companies Act to commence a court supervised process
to reorganize their liabilities and businesses. The Company said
it is taking this step in order to protect the value of its
businesses while it reorganises its liabilities.
The Company engaged WongPartnership LLP as legal advisors and Ernst
& Young Solutions LLP as financial advisors in this process. On
Jan. 29, 2019, WongPartnership applied to discharge themselves due
to difficulties relating to "loss of confidence and good cause" in
working with the client. The Company subsequently appointed
Clifford Chance and Cavenagh Law as its legal advisers in WongP's
place.
In November 2019, Hyflux entered into a restructuring deal with
United Arab Emirates-based utility Utico FZC, according to Reuters.
SUNMOON FOOD: Shares Slump Amid Parent's Bankruptcy Woes
--------------------------------------------------------
Fiona Lam at The Business Times reports that Sunmoon Food Company's
shares tumbled on Oct. 12 after the mainboard-listed fruit and
seafood distributor announced its parent had filed for bankruptcy
in China more than two months ago.
The board also flagged a going concern issue in view of the
parent's reorganisation, and said SunMoon might raise funds from
investors, BT relates.
The counter lost 0.7 Singapore cent or 17.5 per cent to trade at
3.3 cents as at the midday break. About 10.3 million shares changed
hands, making it one of the most actively traded stocks for the
morning.
In a bourse filing at 12:33 a.m. on Oct. 12, SunMoon said four of
its board members became aware last Friday [Oct. 9] that three
entities -- Shanghai Yiguo E-Commerce, Shanghai Winchain Supply
Chain Management and Shanghai Exfresh Logistic -- were placed under
voluntary bankruptcy reorganisation under Chinese law on July 30,
according to BT.
Shanghai Yiguo E-Commerce is the ultimate holding company of Yiguo
General Food Pte Ltd, which in turn holds a 59.9 per cent stake in
SunMoon as at Oct. 12, BT notes.
SunMoon's total accounts receivable, including advances or
prepayments net of accounts payable owing from the Yiguo-related
entities, amounted to about SGD13.2 million, based on SunMoon's
latest financial statements for the period ended June 30, BT
discloses.
This amount includes some SGD12.4 million of accounts receivable
from the three bankrupt Yiguo entities.
BT says advance payments to interested parties from April 1, 2019
to March 31, 2020 included about S$2.1 million for little lobsters
and S$1.7 million for french fries and seafood, when a SunMoon
subsidiary had purchased these products from two of the bankrupt
Yiguo entities.
The deadline to file the creditors' proof of debt in respect of the
bankruptcy reorganisation is Oct. 19, the report states.
According to the report, SunMoon's board has formed an executive
committee, which will appoint professionals to advise the company
on the matter including the filing of the proof of debt.
This committee comprises the four board members who were made aware
of the bankruptcy reorganisation: chairman and lead independent
director James Prideaux; deputy chairman, non-independent and
non-executive director Gary Loh; independent director Ng Bie Tjin
alias Djuniarti Intan; and independent director Yang Guang.
With immediate effect, the committee has taken over the day-to-day
management and operations of SunMoon and its subsidiaries from the
management team, BT says.
The SunMoon management team will take direct instructions from the
executive committee.
Three of SunMoon's other board members - non-independent directors
Zhang Ye, Jin Guanglei and Liu Yuanyuan - have links to Yiguo, a
fresh food e-commerce retailer in China, BT notes. Mr. Zhang and
Mr. Jin are co-founders of Yiguo, while Ms. Liu is the associate
director of the Yiguo group's executive office, according to
SunMoon's website and its annual report published on Sept. 7, BT
relays.
Mr. Zhang is also SunMoon's chief executive officer. The group
financial controller of SunMoon is Wang Hui Zhen.
According to BT, the Singapore-listed agri-food firm noted on Oct.
12 that there is no certainty as to the collectability of the trade
receivables or debts owing from the Yiguo-related entities.
Although its board is of the view that there will be a material
impact on the SunMoon group's ability to continue as a going
concern, it is unable to assess the impact of the Yiguo entities'
reorganisation as the board does not have access to the court
papers filed in the Chinese courts, BT relays.
BT relates that the board said its current information was derived
from information available in the public domain, which did not
state details of the plans and grounds of the reorganisation
application to the courts.
"The board has been and intends to continue to explore various
possible options to address the issue of going concern, including
seeking to raise funds from investors," it added.
Given that the newly formed executive committee has taken over the
group's management and operations, the board is of the view that
the trading in SunMoon shares should not be suspended, it said on
Oct. 12 in response to the Singapore Exchange's queries, adds BT.
Sunmoon Food Company Limited, an investment holding company,
distributes and markets branded fresh fruits, vegetables, and
consumer products worldwide. Its fresh fruits include apples,
pears, stone fruits, and seasonal fruits; and consumer products
comprise fruit cups, juices, snacks, and frozen products. The
company also manages a network of retail franchise outlets. It
distributes products through supermarkets, convenience stores,
online and wholesale channels, airlines, and food services.
===============
X X X X X X X X
===============
[*] BOND PRICING: For the Week Oct. 5, 2020 to Oct. 9, 2020
-----------------------------------------------------------
Issuer Coupon Maturity Currency Price
------ ------ -------- -------- -----
AUSTRALIA
---------
ACN 113 874 712 PTY LTD 13.25 02/15/18 USD 0.13
ACN 113 874 712 PTY LTD 13.25 02/15/18 USD 0.13
CLEAN SEAS SEAFOOD LTD 8.00 11/18/22 AUD 1.06
CLIME CAPITAL LTD/FUND 6.25 11/30/21 AUD 0.98
PALADIN ENERGY LTD 10.00 02/01/23 USD 59.69
PALADIN ENERGY LTD 10.00 02/01/23 USD 59.69
VIRGIN AUSTRALIA HOLDIN 7.88 10/15/21 USD 10.03
VIRGIN AUSTRALIA HOLDIN 7.88 10/15/21 USD 10.03
VIRGIN AUSTRALIA HOLDIN 8.13 11/15/24 USD 6.62
VIRGIN AUSTRALIA HOLDIN 8.08 03/05/24 AUD 6.01
VIRGIN AUSTRALIA HOLDIN 8.25 05/30/23 AUD 5.90
VIRGIN AUSTRALIA HOLDIN 8.13 11/15/24 USD 4.94
VIRGIN AUSTRALIA HOLDIN 8.00 11/26/24 AUD 4.94
CHINA
-----
AKESU DISTRICT GREEN IN 4.09 03/11/23 CNY 60.00
AKESU DISTRICT GREEN IN 4.09 03/11/23 CNY 59.47
AKESU XINCHENG ASSET IN 6.40 04/20/22 CNY 40.24
AKESU XINCHENG ASSET IN 6.40 04/20/22 CNY 40.18
ALTAY PREFECTURE STATE- 4.85 01/22/23 CNY 60.70
ALTAY PREFECTURE STATE- 4.85 01/22/23 CNY 59.62
AN SHUN YU KUN REAL EST 5.48 11/10/21 CNY 69.59
ANHUI FOREIGN ECONOMIC 7.30 07/13/21 CNY 70.01
ANHUI JIANGNAN INDUSTRI 4.76 07/08/23 CNY 59.19
ANHUI JIANGNAN INDUSTRI 4.76 07/08/23 CNY 58.88
ANHUI PINGTIANHU INVEST 7.40 10/23/20 CNY 20.02
ANHUI PINGTIANHU INVEST 7.40 10/23/20 CNY 19.60
ANHUI PROVINCE TONGLING 7.30 05/13/21 CNY 27.18
ANHUI PROVINCE TONGLING 7.30 05/13/21 CNY 20.60
ANJI COUNTY STATE-OWNED 8.30 04/24/21 CNY 24.57
ANJI COUNTY STATE-OWNED 8.30 04/24/21 CNY 20.28
ANJI NORTHWEST DEVELOPM 5.90 07/18/23 CNY 60.00
ANJI NORTHWEST DEVELOPM 5.90 07/18/23 CNY 59.91
ANLU CONSTRUCTION DEVEL 5.45 06/15/23 CNY 60.51
ANLU CONSTRUCTION DEVEL 5.45 06/15/23 CNY 60.51
ANQING ECONOMIC&TECHNOL 4.09 03/09/23 CNY 60.10
ANQING ECONOMIC&TECHNOL 4.09 03/09/23 CNY 58.66
ANQING URBAN CONSTRUCTI 6.01 04/27/22 CNY 40.92
ANQING URBAN CONSTRUCTI 6.01 04/27/22 CNY 40.00
ANSHUN STATE-RUN ASSETS 4.48 07/18/23 CNY 58.40
ANSHUN STATE-RUN ASSETS 4.48 07/18/23 CNY 56.88
BAOJI HI-TECH INDUSTRIA 8.25 04/21/21 CNY 20.25
BAOJI HI-TECH INDUSTRIA 8.25 04/21/21 CNY 20.00
BAOTOU CITY SCIENCE EDU 6.48 03/25/22 CNY 45.50
BAOTOU CITY SCIENCE EDU 6.48 03/25/22 CNY 41.11
BAOYING CITY CONSTRUCTI 4.50 03/24/23 CNY 60.51
BAOYING CITY CONSTRUCTI 4.50 03/24/23 CNY 60.05
BAYAN ZHUOER HETAO WATE 8.54 03/31/22 CNY 30.94
BAZHONG STATE-OWNED ASS 5.13 12/02/22 CNY 60.00
BAZHONG STATE-OWNED ASS 5.13 12/02/22 CNY 59.14
BAZHONG STATE-OWNED ASS 8.50 04/25/21 CNY 20.44
BAZHONG STATE-OWNED ASS 8.50 04/25/21 CNY 20.35
BEIJING CAPITAL DEVELOP 6.50 02/27/21 CNY 20.22
BEIJING CAPITAL DEVELOP 7.19 01/15/21 CNY 20.17
BEIJING CAPITAL DEVELOP 7.19 01/15/21 CNY 20.00
BEIJING CHANGXIN CONSTR 6.74 04/22/21 CNY 20.37
BEIJING CHANGXIN CONSTR 6.74 04/22/21 CNY 20.34
BEIJING FUTURE SCIENCE 4.20 08/13/22 CNY 40.30
BEIJING FUTURE SCIENCE 4.20 08/13/22 CNY 40.27
BEIJING JINLIYUAN STATE 7.00 10/28/20 CNY 20.03
BEIJING JINLIYUAN STATE 7.00 10/28/20 CNY 20.00
BEIJING SHIJINGSHAN STA 6.08 08/18/21 CNY 23.87
BEIJING SHIJINGSHAN STA 6.08 08/18/21 CNY 20.40
BEIJING XINCHENG INFRAS 7.50 04/21/21 CNY 20.29
BEIJING XINCHENG INFRAS 7.50 04/21/21 CNY 20.20
BEIJING XINGZHAN INVEST 6.66 04/24/21 CNY 20.33
BEIJING XINGZHAN INVEST 6.66 04/24/21 CNY 20.32
BEIPIAO CITY CONSTRUCTI 6.70 03/25/23 CNY 61.58
BEIPIAO CITY CONSTRUCTI 6.70 03/25/23 CNY 55.11
BENGBU GAOXIN INVESTMEN 8.70 04/17/21 CNY 20.28
BENGBU GAOXIN INVESTMEN 8.70 04/17/21 CNY 20.00
BENXI URBAN CONSTRUCTIO 6.24 01/22/22 CNY 40.03
BENXI URBAN CONSTRUCTIO 6.24 01/22/22 CNY 40.00
BIJIE CONSTRUCTION INVE 6.50 01/28/22 CNY 45.65
BIJIE CONSTRUCTION INVE 6.50 01/28/22 CNY 40.43
BIJIE KAIYUAN CONSTRUCT 7.78 02/25/21 CNY 30.00
BIJIE KAIYUAN CONSTRUCT 7.78 02/25/21 CNY 20.11
BINZHOU HI-TECH DEVELOP 8.60 01/10/21 CNY 23.40
BINZHOU HI-TECH DEVELOP 8.60 01/10/21 CNY 20.13
BINZHOU ZHONGHAI VENTUR 6.65 04/13/22 CNY 40.29
BINZHOU ZHONGHAI VENTUR 6.65 04/13/22 CNY 40.00
BOHAI LEASING CO LTD 7.00 06/20/21 CNY 68.53
BORALA MONGOL AUTONOMOU 5.77 08/26/22 CNY 40.61
BORALA MONGOL AUTONOMOU 5.77 08/26/22 CNY 39.00
BOZHOU URBAN CONSTRUCTI 4.78 04/14/23 CNY 60.57
BOZHOU URBAN CONSTRUCTI 4.78 04/14/23 CNY 59.79
CANGNAN COUNTY STATE OW 5.58 11/11/22 CNY 68.00
CANGNAN COUNTY STATE OW 5.58 11/11/22 CNY 60.71
CEFC SHANGHAI INTERNATI 4.98 12/10/20 CNY 61.29
CEFC SHANGHAI INTERNATI 4.08 09/09/21 CNY 60.00
CHANG DE DING LI INDUST 4.30 03/10/23 CNY 60.11
CHANG DE DING LI INDUST 4.30 03/10/23 CNY 60.06
CHANGCHUN MODERN AGRICU 7.00 07/25/21 CNY 20.13
CHANGCHUN MODERN AGRICU 7.00 07/25/21 CNY 19.50
CHANGDE DE YUAN SHANTY 5.33 09/13/23 CNY 67.47
CHANGDE ECONOMIC CONSTR 7.00 03/24/21 CNY 20.29
CHANGDE ECONOMIC CONSTR 7.00 03/24/21 CNY 20.25
CHANGDE URBAN CONSTRUCT 3.59 01/12/23 CNY 60.00
CHANGDE URBAN CONSTRUCT 3.59 01/12/23 CNY 59.86
CHANGLE COUNTY NEWTOWN 5.18 12/16/22 CNY 62.03
CHANGLE COUNTY NEWTOWN 5.18 12/16/22 CNY 59.60
CHANGSHA COUNTY XINGCHE 7.90 03/25/22 CNY 41.61
CHANGSHA COUNTY XINGCHE 7.90 03/25/22 CNY 41.61
CHANGSHA ECONOMIC & TEC 8.45 04/13/22 CNY 30.70
CHANGSHA FURONG CITY DE 3.88 01/26/23 CNY 60.67
CHANGSHA FURONG CITY DE 3.88 01/26/23 CNY 60.14
CHANGSHA METRO GROUP CO 5.40 07/14/25 CNY 82.67
CHANGSHA METRO GROUP CO 5.97 04/03/25 CNY 73.39
CHANGSHA METRO GROUP CO 5.97 04/03/25 CNY 73.26
CHANGSHA METRO GROUP CO 5.40 07/14/25 CNY 70.00
CHANGSHA METRO GROUP CO 6.20 04/23/23 CNY 48.35
CHANGSHA METRO GROUP CO 6.20 04/23/23 CNY 46.21
CHANGSHA TIANXIN CITY C 4.20 11/06/22 CNY 60.10
CHANGSHA TIANXIN CITY C 4.20 11/06/22 CNY 59.96
CHANGSHA TIANXIN CITY C 3.43 08/08/23 CNY 59.83
CHANGSHA TIANXIN CITY C 3.43 08/08/23 CNY 59.09
CHANGSHA YUHUA JINGKAI 4.17 09/06/23 CNY 59.08
CHANGSHA YUHUA JINGKAI 4.17 09/06/23 CNY 58.90
CHANGSHA YUHUA URBAN CO 3.80 01/28/23 CNY 59.84
CHANGSHA YUHUA URBAN CO 7.17 04/18/21 CNY 24.00
CHANGSHA YUHUA URBAN CO 7.17 04/18/21 CNY 20.41
CHANGSHU BINJIANG URBAN 6.39 09/11/21 CNY 20.41
CHANGSHU BINJIANG URBAN 6.39 09/11/21 CNY 20.00
CHANGSHU DONGNAN ASSET 6.53 03/26/22 CNY 47.32
CHANGSHU DONGNAN ASSET 6.53 03/26/22 CNY 41.11
CHANGSHU TRANSPORTATION 7.00 04/29/21 CNY 27.00
CHANGSHU TRANSPORTATION 7.00 04/29/21 CNY 20.26
CHANGXING COMMUNICATION 7.88 04/30/21 CNY 30.30
CHANGXING COMMUNICATION 7.88 04/30/21 CNY 20.30
CHANGXING COMMUNICATION 6.75 06/16/21 CNY 20.20
CHANGXING COMMUNICATION 6.75 06/16/21 CNY 20.03
CHANGXING URBAN CONSTRU 6.00 12/03/21 CNY 40.26
CHANGXING URBAN CONSTRU 6.00 12/03/21 CNY 39.00
CHANGZHOU BINHU CONSTRU 8.04 12/12/20 CNY 20.30
CHANGZHOU BINHU CONSTRU 8.04 12/12/20 CNY 20.14
CHANGZHOU PUBLIC HOUSIN 6.64 07/02/21 CNY 20.11
CHANGZHOU PUBLIC HOUSIN 6.64 07/02/21 CNY 20.11
CHANGZHOU TIANNING CONS 6.48 02/12/22 CNY 40.81
CHANGZHOU TIANNING CONS 6.48 02/12/22 CNY 40.00
CHAOHU URBAN TOWN CONST 6.50 04/30/22 CNY 42.10
CHAOHU URBAN TOWN CONST 6.50 04/30/22 CNY 40.87
CHENGDU ECONOMIC & TECH 6.90 05/30/21 CNY 26.00
CHENGDU ECONOMIC & TECH 6.90 05/30/21 CNY 20.31
CHENGDU GARDEN WATER CI 6.15 05/03/23 CNY 60.22
CHENGDU GARDEN WATER CI 6.15 05/03/23 CNY 60.09
CHENGDU LONGBO INVESTME 8.10 04/24/21 CNY 20.30
CHENGDU LONGBO INVESTME 8.10 04/24/21 CNY 20.26
CHENGDU PIDU DISTRICT S 6.95 04/01/22 CNY 48.83
CHENGDU PIDU DISTRICT S 6.95 04/01/22 CNY 40.99
CHENGDU PIDU DISTRICT S 7.25 10/15/20 CNY 20.01
CHENGDU PIDU DISTRICT S 7.25 10/15/20 CNY 20.00
CHENGDU SHUZHOU CITY CO 6.58 05/26/22 CNY 40.97
CHENGDU SHUZHOU CITY CO 6.58 05/26/22 CNY 40.50
CHENGDU XINGCHENGJIAN I 6.00 03/20/22 CNY 40.80
CHENGDU XINGCHENGJIAN I 6.00 03/20/22 CNY 40.00
CHENGDU XINKAIYUAN URBA 5.29 04/27/23 CNY 59.85
CHENGDU XINKAIYUAN URBA 5.29 04/27/23 CNY 59.48
CHENGDU XINKAIYUAN URBA 7.43 08/12/21 CNY 21.00
CHENGDU XINKAIYUAN URBA 7.43 08/12/21 CNY 20.35
CHENGFA INVESTMENT GROU 6.87 04/30/21 CNY 21.37
CHENGFA INVESTMENT GROU 6.87 04/30/21 CNY 20.26
CHENZHOU BAIFU INVESTME 4.96 03/22/26 CNY 74.16
CHENZHOU BAIFU INVESTME 4.96 03/22/26 CNY 73.33
CHENZHOU BAIFU INVESTME 6.54 08/28/21 CNY 20.15
CHENZHOU BAIFU INVESTME 6.54 08/28/21 CNY 20.00
CHENZHOU FUCHENG HIGH T 4.73 01/22/23 CNY 60.22
CHENZHOU FUCHENG HIGH T 4.73 01/22/23 CNY 59.85
CHENZHOU INDUSTRY INVES 6.45 01/23/22 CNY 48.60
CHENZHOU INDUSTRY INVES 6.45 01/23/22 CNY 40.32
CHENZHOU XINTIAN INVEST 5.38 03/08/26 CNY 74.36
CHIBI LANTIAN URBAN CON 4.38 08/10/23 CNY 59.44
CHIBI LANTIAN URBAN CON 4.38 08/10/23 CNY 59.27
CHINA MINSHENG INVESTME 7.00 12/26/20 CNY 36.65
CHINA OCEANWIDE HOLDING 8.90 12/13/21 CNY 50.26
CHINA SECURITY CO LTD 4.45 11/11/19 CNY 31.00
CHINA YIXING ENVIRONMEN 4.08 09/14/23 CNY 59.77
CHINA YIXING ENVIRONMEN 4.08 09/14/23 CNY 59.76
CHINA YIXING ENVIRONMEN 7.10 10/18/20 CNY 20.40
CHINA YIXING ENVIRONMEN 7.10 10/18/20 CNY 20.01
CHONGQIN BAIYAN INVESTM 5.75 05/03/23 CNY 61.35
CHONGQIN BAIYAN INVESTM 5.75 05/03/23 CNY 60.17
CHONGQIN XINLIANG INVES 4.76 08/26/23 CNY 56.39
CHONGQIN XINLIANG INVES 4.76 08/26/23 CNY 56.33
CHONGQING BANAN ECONOMI 6.17 03/13/22 CNY 40.47
CHONGQING BANAN ECONOMI 7.00 08/20/21 CNY 21.10
CHONGQING BANAN ECONOMI 7.00 08/20/21 CNY 20.46
CHONGQING BAYUAN CONSTR 4.99 08/16/23 CNY 58.14
CHONGQING BEICHENG CONS 7.30 10/16/20 CNY 20.30
CHONGQING BEICHENG CONS 7.30 10/16/20 CNY 20.00
CHONGQING BISHAN DISTRI 4.93 03/29/23 CNY 61.87
CHONGQING BISHAN DISTRI 4.93 03/29/23 CNY 60.96
CHONGQING CHANGSHOU ECO 7.20 07/15/21 CNY 20.22
CHONGQING CHANGSHOU ECO 7.20 07/15/21 CNY 20.00
CHONGQING CHANGSHOU ECO 7.10 06/19/21 CNY 20.18
CHONGQING CHANGSHOU ECO 7.10 06/19/21 CNY 20.00
CHONGQING DAZU INDUSTRI 6.30 04/28/22 CNY 40.43
CHONGQING DAZU INDUSTRI 6.30 04/28/22 CNY 40.00
CHONGQING ECO&TECH DEVE 3.95 04/13/23 CNY 60.15
CHONGQING FULING DISTRI 7.89 03/20/21 CNY 27.33
CHONGQING FULING DISTRI 7.89 03/20/21 CNY 20.22
CHONGQING FULING TRAFFI 6.68 02/03/22 CNY 40.64
CHONGQING FULING TRAFFI 6.68 02/03/22 CNY 40.00
CHONGQING GAOXIN ZONE D 7.80 04/25/21 CNY 30.80
CHONGQING GAOXIN ZONE D 7.80 04/25/21 CNY 20.42
CHONGQING GARDENING IND 8.45 06/03/21 CNY 20.45
CHONGQING GARDENING IND 8.45 06/03/21 CNY 20.00
CHONGQING HAOJIANG CONS 8.05 03/06/21 CNY 20.20
CHONGQING HAOJIANG CONS 7.99 11/22/20 CNY 20.04
CHONGQING HAOJIANG CONS 8.05 03/06/21 CNY 20.00
CHONGQING HAOJIANG CONS 7.99 11/22/20 CNY 20.00
CHONGQING HECHUAN CITY 3.95 09/06/23 CNY 61.22
CHONGQING HECHUAN CITY 3.95 09/06/23 CNY 59.88
CHONGQING HECHUAN CITY 7.30 07/07/21 CNY 21.00
CHONGQING HECHUAN CITY 7.30 07/07/21 CNY 20.53
CHONGQING INTERNATIONAL 7.08 10/18/20 CNY 20.29
CHONGQING INTERNATIONAL 7.08 10/18/20 CNY 20.01
CHONGQING JIANGBEIZUI C 6.50 07/21/21 CNY 20.40
CHONGQING JIANGBEIZUI C 6.50 07/21/21 CNY 20.30
CHONGQING JINYUN ASSET 4.50 12/31/22 CNY 60.08
CHONGQING JINYUN ASSET 4.50 12/31/22 CNY 60.04
CHONGQING JIULONG HI-TE 6.60 08/19/21 CNY 20.46
CHONGQING JIULONG HI-TE 6.60 08/19/21 CNY 20.25
CHONGQING KAIQIAN INVES 4.64 03/21/23 CNY 58.90
CHONGQING KAIQIAN INVES 4.64 03/21/23 CNY 58.82
CHONGQING LAND PROPERTI 3.36 03/21/23 CNY 60.10
CHONGQING LAND PROPERTI 3.36 03/21/23 CNY 59.72
CHONGQING LIANGJIANG NE 3.60 04/19/21 CNY 40.60
CHONGQING LIANGJIANG NE 3.60 04/19/21 CNY 39.95
CHONGQING LIANGJIANG NE 3.10 08/05/21 CNY 39.93
CHONGQING LIANGJIANG NE 3.17 01/13/21 CNY 39.92
CHONGQING LIANGJIANG NE 3.17 01/13/21 CNY 39.90
CHONGQING LIANGJIANG NE 6.70 04/25/21 CNY 22.72
CHONGQING LIANGJIANG NE 5.88 09/16/21 CNY 20.38
CHONGQING LIANGJIANG NE 5.88 09/16/21 CNY 20.31
CHONGQING LIANGJIANG NE 6.70 04/25/21 CNY 20.31
CHONGQING MAIRUI URBAN 4.95 04/21/23 CNY 62.61
CHONGQING MAIRUI URBAN 4.95 04/21/23 CNY 61.67
CHONGQING NANCHUAN CITY 4.20 07/11/23 CNY 59.54
CHONGQING NANCHUAN CITY 4.20 07/11/23 CNY 58.31
CHONGQING QIANJIANG CIT 8.00 03/21/21 CNY 21.70
CHONGQING QIANJIANG CIT 8.00 03/21/21 CNY 20.18
CHONGQING QIJIANG EAST 4.00 09/05/23 CNY 58.13
CHONGQING QIJIANG EAST 4.00 09/05/23 CNY 58.05
CHONGQING SHUANGFU CONS 7.49 10/23/20 CNY 20.01
CHONGQING SHUANGFU CONS 7.49 10/23/20 CNY 20.00
CHONGQING SHUANGQIAO EC 5.99 11/19/21 CNY 46.25
CHONGQING SHUANGQIAO EC 5.99 11/19/21 CNY 40.14
CHONGQING TAX FREE PORT 7.50 04/24/21 CNY 21.70
CHONGQING TAX FREE PORT 7.50 04/24/21 CNY 20.32
CHONGQING TEA GARDEN IN 7.70 05/20/21 CNY 20.28
CHONGQING TONGLIANG JIN 6.59 04/08/22 CNY 40.81
CHONGQING TONGLIANG JIN 6.59 04/08/22 CNY 40.00
CHONGQING TONGNAN DISTR 4.99 12/31/22 CNY 60.00
CHONGQING TONGNAN DISTR 4.99 12/31/22 CNY 59.36
CHONGQING WANSHENG ECO 6.95 08/25/21 CNY 25.00
CHONGQING WANSHENG ECO 8.19 04/08/21 CNY 23.90
CHONGQING WANSHENG ECO 8.19 04/08/21 CNY 20.20
CHONGQING WANSHENG ECO 6.95 08/25/21 CNY 20.16
CHONGQING WANSHENG ECO 5.40 11/18/21 CNY 69.87
CHONGQING WANZHOU SANXI 4.95 08/25/22 CNY 40.80
CHONGQING WANZHOU SANXI 4.95 08/25/22 CNY 40.55
CHONGQING XINGRONG HOLD 4.86 03/31/23 CNY 59.30
CHONGQING XINGRONG HOLD 4.86 03/31/23 CNY 58.50
CHONGQING XIYONG MICRO- 6.58 07/25/21 CNY 22.33
CHONGQING XIYONG MICRO- 6.58 07/25/21 CNY 20.48
CHONGQING YONGCHUAN HUI 7.28 05/30/21 CNY 21.60
CHONGQING YONGCHUAN HUI 7.28 05/30/21 CNY 20.37
CHONGQING YUELAI INVEST 6.09 04/29/22 CNY 41.01
CHONGQING YUELAI INVEST 6.09 04/29/22 CNY 40.00
CHONGQING YUNAN ASSET M 7.05 06/17/21 CNY 20.76
CHONGQING YUNAN ASSET M 7.05 06/17/21 CNY 20.47
CHONGQING YUZHONG STATE 7.25 02/26/21 CNY 20.28
CHONGQING YUZHONG STATE 7.25 02/26/21 CNY 20.20
CHUN'AN XINANJIANG DEVE 6.10 03/11/22 CNY 44.55
CHUN'AN XINANJIANG DEVE 6.10 03/11/22 CNY 40.64
CHUZHOU CITY CONSTRUCTI 6.17 11/30/21 CNY 61.00
CHUZHOU CITY CONSTRUCTI 6.40 08/22/21 CNY 20.48
CITIC GUOAN GROUP CORP 4.49 03/08/21 CNY 18.25
CITIC GUOAN GROUP CORP 4.23 12/15/20 CNY 18.25
CITIC GUOAN GROUP CORP 5.80 12/15/19 CNY 18.25
CITIC GUOAN GROUP CORP 4.90 11/06/19 CNY 18.25
CIXI CITY CONSTRUCTION 6.18 08/18/21 CNY 28.80
CIXI CITY CONSTRUCTION 6.18 08/18/21 CNY 20.39
DAFANG COUNTY CONSTRUCT 6.00 09/26/23 CNY 58.42
DAFANG COUNTY CONSTRUCT 6.00 09/26/23 CNY 57.80
DALI ECONOMIC DEVELOPME 8.30 12/11/20 CNY 20.60
DALI ECONOMIC DEVELOPME 7.90 03/04/21 CNY 20.15
DALI ECONOMIC DEVELOPME 8.30 12/11/20 CNY 20.13
DALI ECONOMIC DEVELOPME 7.90 03/04/21 CNY 20.00
DALI HAIDONG DEVELOPMEN 6.01 01/25/23 CNY 61.47
DALI HAIDONG DEVELOPMEN 6.01 01/25/23 CNY 59.82
DALIAN PULANDIAN CONSTR 3.80 01/25/23 CNY 59.07
DALIAN RONGDA INVESTMEN 5.69 12/05/21 CNY 40.47
DALIAN RONGQIANG INVEST 7.92 04/14/21 CNY 20.22
DALIAN RONGQIANG INVEST 7.92 04/14/21 CNY 20.22
DALIAN RONGQIANG INVEST 8.60 01/20/21 CNY 20.16
DALIAN RONGQIANG INVEST 8.60 01/20/21 CNY 20.15
DALIAN SHITAI CITY CONS 4.50 02/01/23 CNY 55.85
DALIAN SHITAI CITY CONS 4.50 02/01/23 CNY 54.87
DALIAN SHITAI CITY CONS 7.09 02/20/21 CNY 19.79
DANDONG PORT GROUP CO L 5.50 01/27/21 CNY 59.00
DANGTU COUNTY CONSTRUCT 5.38 08/10/22 CNY 40.75
DANGTU COUNTY CONSTRUCT 5.38 08/10/22 CNY 40.59
DANGYANG XINYUAN INVEST 4.97 03/29/23 CNY 60.54
DANGYANG XINYUAN INVEST 4.97 03/29/23 CNY 60.08
DANGYANG XINYUAN INVEST 7.99 05/23/21 CNY 20.00
DANYANG HI-TECH INDUSTR 6.40 04/24/22 CNY 40.18
DANYANG HI-TECH INDUSTR 6.40 04/24/22 CNY 40.00
DANYANG INVESTMENT GROU 3.99 01/25/23 CNY 59.51
DANYANG INVESTMENT GROU 6.90 10/23/20 CNY 20.16
DANYANG INVESTMENT GROU 6.90 10/23/20 CNY 20.02
DATONG ECONOMIC CONSTRU 4.49 10/22/22 CNY 60.41
DATONG ECONOMIC CONSTRU 4.49 10/22/22 CNY 60.30
DAWA COUNTY CITY CONSTR 6.29 06/12/22 CNY 39.30
DAWA COUNTY CITY CONSTR 6.29 06/12/22 CNY 39.14
DAYE ZHENHENG CITY DEVE 4.50 03/28/23 CNY 58.93
DAYE ZHENHENG CITY DEVE 4.50 03/28/23 CNY 58.92
DAYE ZHENHENG CITY DEVE 4.05 08/31/23 CNY 58.44
DAYE ZHENHENG CITY DEVE 4.05 08/31/23 CNY 58.17
DAYE ZHENHENG CITY DEVE 7.30 03/03/21 CNY 23.53
DAYE ZHENHENG CITY DEVE 7.30 03/03/21 CNY 20.20
DAYE ZHENHENG CITY DEVE 7.95 11/27/20 CNY 20.15
DAYE ZHENHENG CITY DEVE 7.95 11/27/20 CNY 20.08
DAZHOU DEVELOPMENT HOLD 5.10 11/27/22 CNY 60.52
DAZHOU DEVELOPMENT HOLD 5.10 11/27/22 CNY 60.00
DAZHOU DEVELOPMENT HOLD 6.55 01/14/22 CNY 40.76
DAZHOU DEVELOPMENT HOLD 6.55 01/14/22 CNY 40.00
DEHONGZHOU HONGKANG INV 6.68 01/23/22 CNY 40.19
DEHONGZHOU HONGKANG INV 6.68 01/23/22 CNY 40.19
DEXING INVESTMENT HOLDI 5.99 03/21/23 CNY 60.58
DEXING INVESTMENT HOLDI 5.99 03/21/23 CNY 60.42
DEYANG ECONOMIC DEVELOP 7.90 04/28/21 CNY 28.26
DEYANG ECONOMIC DEVELOP 7.90 04/28/21 CNY 20.22
DONGLING GROUP INC CO 8.00 07/14/22 CNY 40.99
DONGLING GROUP INC CO 8.00 07/14/22 CNY 40.00
DONGTAI UBAN CONSTRUCTI 7.58 04/23/21 CNY 28.48
DONGTAI UBAN CONSTRUCTI 7.58 04/23/21 CNY 20.38
DONGTAI UBAN CONSTRUCTI 8.65 01/13/21 CNY 20.19
DONGYING CITY URBAN ASS 5.57 03/31/22 CNY 41.58
DONGYING CITY URBAN ASS 5.57 03/31/22 CNY 40.49
DONGZHI COUNTY CITY OPE 4.88 06/20/23 CNY 60.41
DONGZHI COUNTY CITY OPE 4.88 06/20/23 CNY 60.05
DUJIANGYAN XINGYAN INVE 6.10 03/12/22 CNY 40.00
DUJIANGYAN XINGYAN INVE 6.10 03/12/22 CNY 38.92
DUNYUN STATE-OWNED ASSE 6.60 12/28/22 CNY 59.16
EASTAR HOLDINGS GROUP C 7.30 10/31/20 CNY 63.00
ENSHI URBAN CONSTRUCTIO 7.50 06/03/21 CNY 27.54
ENSHI URBAN CONSTRUCTIO 7.50 06/03/21 CNY 20.42
EZHOU CITY CONSTRUCTION 7.76 05/15/21 CNY 26.50
EZHOU CITY CONSTRUCTION 6.68 09/19/21 CNY 21.00
EZHOU CITY CONSTRUCTION 6.68 09/19/21 CNY 20.57
EZHOU CITY CONSTRUCTION 7.76 05/15/21 CNY 20.52
FANGCHENGGANG GANGFA HO 8.09 04/16/21 CNY 20.50
FANGCHENGGANG GANGFA HO 8.09 04/16/21 CNY 20.32
FEICHENG CITY ASSETS MA 4.04 03/23/23 CNY 59.83
FEICHENG CITY ASSETS MA 4.04 03/23/23 CNY 59.26
FEIXI COUNTY URBAN & RU 4.45 06/03/23 CNY 61.24
FEIXI COUNTY URBAN & RU 4.45 06/03/23 CNY 59.89
FENG COUNTY ECONOMIC DE 5.18 06/21/23 CNY 59.29
FENG COUNTY ECONOMIC DE 5.18 06/21/23 CNY 58.83
FENGCHENG CITY CONSTRUC 6.49 02/10/22 CNY 44.49
FENGCHENG CITY CONSTRUC 6.49 02/10/22 CNY 40.66
FENGCHENG CITY MODERN I 5.76 12/17/22 CNY 60.00
FENGCHENG CITY MODERN I 5.76 12/17/22 CNY 59.85
FENGXIAN URBAN INVESTME 6.48 03/20/22 CNY 40.42
FENGXIAN URBAN INVESTME 6.48 03/20/22 CNY 40.00
FENGXIAN URBAN INVESTME 4.23 07/13/21 CNY 19.79
FENGXIAN URBAN INVESTME 4.23 07/13/21 CNY 19.75
FENYI CITY CONSTRUCTION 4.54 08/22/23 CNY 78.52
FENYI CITY CONSTRUCTION 4.54 08/22/23 CNY 58.59
FUGU COUNTY STATE-OWNED 8.69 12/16/20 CNY 20.11
FUGU COUNTY STATE-OWNED 8.69 12/16/20 CNY 20.01
FUGUINIAO CO LTD 6.30 04/22/20 CNY 13.00
FUJIAN JINJIANG INDUSTR 7.08 06/27/21 CNY 20.65
FUJIAN JINJIANG INDUSTR 7.08 06/27/21 CNY 20.39
FUJIAN JINJIANG URBAN C 3.35 08/24/23 CNY 59.60
FUJIAN PROVINCE LIANJIA 6.29 04/30/22 CNY 40.93
FUJIAN PROVINCE LIANJIA 6.29 04/30/22 CNY 40.00
FUJIAN ZHANGLONG GROUP 4.99 08/07/22 CNY 40.53
FUJIAN ZHANGLONG GROUP 4.99 08/07/22 CNY 40.00
FUNING URBAN INVESTMENT 7.19 08/15/21 CNY 21.15
FUNING URBAN INVESTMENT 7.19 08/15/21 CNY 20.43
FUQING CITY STATE-OWNED 5.94 11/26/22 CNY 56.19
FUQING CITY STATE-OWNED 6.66 03/01/21 CNY 25.09
FUXIN INFRASTRUCTURE CO 6.18 03/18/22 CNY 40.39
FUXIN INFRASTRUCTURE CO 6.18 03/18/22 CNY 40.04
FUZHOU CHANGLE DISTRICT 4.50 04/11/23 CNY 59.38
FUZHOU CHANGLE DISTRICT 4.50 04/11/23 CNY 58.79
FUZHOU DEVELOPMENT ZONE 3.53 08/25/23 CNY 59.61
FUZHOU LINCHUAN URBAN C 5.68 07/05/23 CNY 60.91
FUZHOU LINCHUAN URBAN C 5.68 07/05/23 CNY 60.74
FUZHOU URBAN AND RURAL 4.89 07/08/22 CNY 40.68
FUZHOU URBAN AND RURAL 5.48 01/26/22 CNY 40.60
FUZHOU URBAN AND RURAL 4.89 07/08/22 CNY 40.55
FUZHOU URBAN AND RURAL 5.48 01/26/22 CNY 40.00
GANSU PROVINCIAL HIGHWA 6.58 09/24/22 CNY 72.89
GANZHOU CITY DEVELOPMEN 5.50 06/16/22 CNY 40.93
GANZHOU CITY DEVELOPMEN 5.50 06/16/22 CNY 40.00
GANZHOU DEVELOPMENT ZON 7.43 02/19/21 CNY 20.21
GANZHOU DEVELOPMENT ZON 7.43 02/19/21 CNY 19.00
GAOMI STATE-OWNED ASSET 4.69 01/26/23 CNY 60.49
GAOMI STATE-OWNED ASSET 4.69 01/26/23 CNY 59.88
GAOYOU CITY CONSTRUCTIO 5.48 09/15/22 CNY 40.75
GAOYOU CITY CONSTRUCTIO 5.48 09/15/22 CNY 40.00
GAOYOU CITY ECONOMY DEV 3.65 09/02/23 CNY 60.00
GAOYOU CITY ECONOMY DEV 3.65 09/02/23 CNY 59.79
GOLMUD INVESTMENT HOLDI 8.70 12/30/20 CNY 20.13
GOLMUD INVESTMENT HOLDI 8.70 12/30/20 CNY 20.00
GONG'AN COUNTY CITY CON 4.30 08/30/23 CNY 59.31
GONG'AN COUNTY CITY CON 4.30 08/30/23 CNY 59.04
GONGQINGCHENG FINANCIAL 5.85 03/25/23 CNY 60.77
GONGQINGCHENG FINANCIAL 5.85 03/25/23 CNY 59.70
GOOCOO INVESTMENT CO LT 8.00 02/01/21 CNY 50.00
GUANGAN DEVELOPMENT AND 6.39 03/24/22 CNY 44.00
GUANGAN DEVELOPMENT AND 6.39 03/24/22 CNY 40.84
GUANGAN ECONOMIC & TECH 5.16 04/14/23 CNY 59.55
GUANGAN ECONOMIC & TECH 5.16 04/14/23 CNY 59.31
GUANGAN ECONOMIC & TECH 7.10 09/22/21 CNY 20.23
GUANGAN ECONOMIC & TECH 7.10 09/22/21 CNY 20.22
GUANGDONG HUIZHOU COMMU 4.16 05/17/23 CNY 60.31
GUANGDONG HUIZHOU COMMU 4.16 05/17/23 CNY 59.98
GUANGRAO COUNTY ECONOMI 3.61 09/08/23 CNY 60.00
GUANGRAO COUNTY ECONOMI 3.61 09/08/23 CNY 59.19
GUANGXI BAISE DEVELOPME 7.27 06/20/21 CNY 20.17
GUANGXI BAISE DEVELOPME 7.27 06/20/21 CNY 20.00
GUANGXI LAIBIN INDUSTRI 5.97 11/26/21 CNY 40.14
GUANGXI LAIBIN INDUSTRI 5.97 11/26/21 CNY 40.00
GUANGXI LIUZHOU DONGCHE 7.40 10/29/20 CNY 21.00
GUANGXI LIUZHOU DONGCHE 7.40 10/29/20 CNY 20.03
GUANGXI QINZHOU LINHAI 7.68 02/20/21 CNY 24.77
GUANGXI QINZHOU LINHAI 7.68 02/20/21 CNY 20.16
GUANGXI URBAN CONSTRUCT 7.59 04/14/21 CNY 23.00
GUANGXI URBAN CONSTRUCT 7.59 04/14/21 CNY 20.29
GUANGYUAN INVESTMENT HO 7.30 04/22/21 CNY 21.15
GUANGYUAN INVESTMENT HO 7.30 04/22/21 CNY 20.29
GUANGYUAN YUANQU CONSTR 4.48 03/10/23 CNY 58.67
GUANGYUAN YUANQU CONSTR 4.48 03/10/23 CNY 58.63
GUANGYUAN YUANQU CONSTR 8.35 08/26/21 CNY 27.00
GUANGYUAN YUANQU CONSTR 8.35 08/26/21 CNY 20.68
GUANGZHOU HUANTOU NANSH 6.38 11/18/24 CNY 73.82
GUANGZHOU HUANTOU NANSH 6.38 11/18/24 CNY 73.28
GUANGZHOU METRO GROUP C 6.45 04/02/24 CNY 62.53
GUANGZHOU METRO GROUP C 6.05 06/03/24 CNY 62.11
GUANGZHOU METRO GROUP C 6.45 04/02/24 CNY 60.00
GUILIN CITY INVESTMENT 6.90 06/13/21 CNY 20.27
GUILIN CITY INVESTMENT 6.90 06/13/21 CNY 20.00
GUILIN ECONOMIC CONSTRU 5.60 04/22/22 CNY 40.63
GUILIN ECONOMIC CONSTRU 5.60 04/22/22 CNY 40.00
GUIRENNIAO CO LTD 7.00 12/03/19 CNY 49.50
GUIXI CITY CONSTRUCTION 4.18 08/18/23 CNY 58.25
GUIXI CITY CONSTRUCTION 4.18 08/18/23 CNY 58.22
GUIYANG BAIYUN CITY CON 4.75 09/13/26 CNY 74.95
GUIYANG BAIYUN CITY CON 4.75 09/13/26 CNY 73.60
GUIYANG BAIYUN INDUSTRY 7.30 03/27/22 CNY 45.00
GUIYANG BAIYUN INDUSTRY 7.30 03/27/22 CNY 40.31
GUIYANG GUANSHANHU DIST 4.87 01/28/23 CNY 59.82
GUIYANG GUANSHANHU DIST 4.87 01/28/23 CNY 59.21
GUIYANG GUANSHANHU DIST 4.48 03/09/23 CNY 59.07
GUIYANG GUANSHANHU DIST 4.48 03/09/23 CNY 58.81
GUIYANG URBAN CONSTRUCT 5.23 12/02/22 CNY 60.25
GUIYANG URBAN CONSTRUCT 5.23 12/02/22 CNY 60.00
GUIZHOU EAST LAKE CITY 5.18 01/06/23 CNY 60.62
GUIZHOU EAST LAKE CITY 5.18 01/06/23 CNY 58.34
GUIZHOU FANJINGSHAN INV 6.95 01/28/22 CNY 40.48
GUIZHOU FANJINGSHAN INV 6.95 01/28/22 CNY 40.00
GUIZHOU GUIAN CONSTRUCT 4.17 10/28/22 CNY 61.00
GUIZHOU GUIAN CONSTRUCT 4.17 10/28/22 CNY 60.22
GUIZHOU GUILONG INDUSTR 7.80 04/28/22 CNY 50.97
GUIZHOU GUILONG INDUSTR 7.80 04/28/22 CNY 50.03
GUIZHOU HONGCAI INVESTM 6.00 06/07/23 CNY 49.02
GUIZHOU HONGCAI INVESTM 6.00 06/07/23 CNY 48.66
GUIZHOU RAILWAY INVESTM 7.50 04/23/24 CNY 63.06
GUIZHOU RAILWAY INVESTM 7.50 04/23/24 CNY 63.05
GUIZHOU RAILWAY INVESTM 7.20 03/27/22 CNY 41.16
GUIZHOU RAILWAY INVESTM 7.20 03/27/22 CNY 41.05
GUIZHOU SHUICHENG CITY 4.98 11/22/23 CNY 74.16
GUIZHOU SHUICHENG CITY 4.98 11/22/23 CNY 73.94
GULIN STATE-OWNED ASSET 4.18 08/04/23 CNY 59.96
GULIN STATE-OWNED ASSET 4.18 08/04/23 CNY 58.69
HAIAN COUNTY DEVELOPMEN 5.45 04/13/23 CNY 59.81
HAIAN COUNTY DEVELOPMEN 5.45 04/13/23 CNY 59.38
HAIAN URBAN DEMOLITION 5.08 11/27/22 CNY 60.90
HAIAN URBAN DEMOLITION 5.08 11/27/22 CNY 60.88
HAICHENG URBAN JINCAI L 5.37 08/10/23 CNY 59.52
HAICHENG URBAN JINCAI L 5.37 08/10/23 CNY 59.05
HAICHENG URBAN JINCAI L 8.17 04/16/21 CNY 20.21
HAICHENG URBAN JINCAI L 8.56 12/19/20 CNY 20.09
HAIFENG MARINE INFRASTR 6.84 04/29/22 CNY 40.45
HAIKOU MEILAN INTERNATI 5.25 09/06/19 USD 52.87
HAIMEN CITY DEVELOPMENT 6.22 04/03/22 CNY 42.20
HAIMEN CITY DEVELOPMENT 6.22 04/03/22 CNY 40.95
HAINING CITY DEVELOPMEN 5.58 10/22/21 CNY 40.49
HAINING CITY JIANSHAN D 6.90 11/04/20 CNY 21.42
HAINING CITY JIANSHAN D 6.90 11/04/20 CNY 20.04
HAIXI STATE-OWNED CAPIT 8.60 01/02/21 CNY 20.30
HAIXI STATE-OWNED CAPIT 8.60 01/02/21 CNY 20.10
HAMI JIANHUI STATE-OWNE 3.90 09/21/23 CNY 59.10
HAMI JIANHUI STATE-OWNE 3.90 09/21/23 CNY 57.84
HANCHUAN CITY HANRONG I 4.25 07/18/23 CNY 59.33
HANCHUAN CITY HANRONG I 4.25 07/18/23 CNY 59.11
HANDAN CONSTRUCTION & I 5.48 05/27/22 CNY 47.20
HANDAN CONSTRUCTION & I 5.48 05/27/22 CNY 40.39
HANGZHOU CITY CONSTRUCT 3.80 03/14/23 CNY 60.01
HANGZHOU CITY CONSTRUCT 3.80 03/14/23 CNY 60.00
HANGZHOU FUYANG CITY CO 7.20 03/19/21 CNY 20.30
HANGZHOU FUYANG CITY CO 7.20 03/19/21 CNY 20.28
HANGZHOU FUYANG DEVELOP 4.76 01/27/23 CNY 59.62
HANGZHOU FUYANG DEVELOP 4.76 01/27/23 CNY 59.12
HANGZHOU FUYANG DEVELOP 7.70 04/28/21 CNY 29.00
HANGZHOU FUYANG DEVELOP 7.70 04/28/21 CNY 20.33
HANGZHOU GONGSHU DISTRI 6.90 07/21/21 CNY 20.46
HANGZHOU GONGSHU DISTRI 6.90 07/21/21 CNY 20.40
HANGZHOU METRO GROUP CO 5.97 09/17/24 CNY 72.77
HANGZHOU METRO GROUP CO 5.97 09/17/24 CNY 62.98
HANGZHOU WEST LAKE INVE 4.30 04/25/23 CNY 60.28
HANGZHOU WEST LAKE INVE 4.30 04/25/23 CNY 59.96
HANGZHOU XIAOSHAN ECO&T 6.90 05/13/21 CNY 20.29
HANGZHOU XIAOSHAN QIANJ 4.00 03/22/23 CNY 60.27
HANGZHOU XIAOSHAN QIANJ 4.00 03/22/23 CNY 60.07
HANGZHOU YUHANG CITY CO 7.00 03/03/21 CNY 20.20
HANGZHOU YUHANG ECONOMI 7.45 03/03/21 CNY 20.75
HANGZHOU YUHANG ECONOMI 7.45 03/03/21 CNY 20.34
HANGZHOU YUHANG TRANSPO 7.19 04/18/21 CNY 21.85
HANGZHOU YUHANG TRANSPO 7.19 04/18/21 CNY 20.29
HANJIANG STATE-OWNED-AS 7.30 11/11/20 CNY 26.60
HANJIANG STATE-OWNED-AS 7.30 11/11/20 CNY 20.05
HAWTAI MOTOR GROUP LTD 6.10 10/26/21 CNY 74.00
HAWTAI MOTOR GROUP LTD 7.20 04/14/21 CNY 60.00
HEBEI ZHONGYUE CITY CON 4.10 11/16/21 CNY 60.04
HEBEI ZHONGYUE CITY CON 4.10 11/16/21 CNY 59.75
HEBI INVESTMENTS GROUP 7.88 08/01/21 CNY 20.99
HEBI INVESTMENTS GROUP 7.88 08/01/21 CNY 20.62
HECHI CITY CONSTRUCTION 5.58 11/13/22 CNY 62.42
HECHI CITY CONSTRUCTION 5.58 11/13/22 CNY 60.18
HEFEI CONSTRUCTION INVE 7.20 04/29/24 CNY 63.79
HEFEI XINCHENG STATE-OW 4.13 07/15/23 CNY 59.82
HEFEI XINCHENG STATE-OW 4.13 07/15/23 CNY 59.30
HEILONGJIANG HECHENG CO 5.60 11/11/21 CNY 40.01
HEILONGJIANG HECHENG CO 7.05 06/21/22 CNY 30.40
HEILONGJIANG POST-DISAS 7.10 11/19/20 CNY 25.07
HEILONGJIANG POST-DISAS 7.10 11/19/20 CNY 18.55
HEILONGJIANG POST-DISAS 7.06 11/20/20 CNY 6.81
HEILONGJIANG POST-DISAS 7.06 11/20/20 CNY 6.78
HEISHAN TONGHE ASSET MA 6.79 09/18/22 CNY 39.64
HEISHAN TONGHE ASSET MA 6.79 09/18/22 CNY 39.28
HENGYANG BAISHAZHOU DEV 6.87 08/22/21 CNY 24.50
HENGYANG BAISHAZHOU DEV 6.87 08/22/21 CNY 20.05
HENGYANG COMMUNICATION 4.28 01/21/23 CNY 60.02
HENGYANG COMMUNICATION 4.28 01/21/23 CNY 60.00
HENGYANG XIANGJIANG WAT 7.40 04/23/21 CNY 21.10
HENGYANG XIANGJIANG WAT 7.40 04/23/21 CNY 20.21
HESHAN PUBLIC ASSET MAN 4.08 09/28/23 CNY 58.81
HESHAN PUBLIC ASSET MAN 4.08 09/28/23 CNY 58.06
HETIAN YUXIN STATE-OWNE 4.65 03/28/23 CNY 59.85
HETIAN YUXIN STATE-OWNE 4.65 03/28/23 CNY 59.40
HEYUAN CITY RUNYE INVES 6.20 12/03/21 CNY 45.88
HEYUAN CITY RUNYE INVES 6.20 12/03/21 CNY 40.61
HEZE INVESTMENT DEVELOP 7.14 03/24/21 CNY 20.95
HEZE INVESTMENT DEVELOP 7.14 03/24/21 CNY 20.27
HEZHOU URBAN CONSTRUCTI 8.16 05/16/21 CNY 20.80
HEZHOU URBAN CONSTRUCTI 8.16 05/16/21 CNY 20.39
HNA GROUP CO LTD 7.10 04/15/20 CNY 70.00
HNA GROUP CO LTD 5.99 11/27/22 CNY 29.10
HUACHEN AUTOMOTIVE GROU 6.30 09/14/23 CNY 68.23
HUACHEN AUTOMOTIVE GROU 5.80 06/17/24 CNY 60.78
HUACHEN AUTOMOTIVE GROU 5.80 11/05/23 CNY 59.80
HUACHEN AUTOMOTIVE GROU 6.30 09/14/23 CNY 56.93
HUACHEN AUTOMOTIVE GROU 5.40 09/14/23 CNY 55.80
HUACHEN AUTOMOTIVE GROU 5.80 03/20/24 CNY 54.80
HUACHEN ENERGY CO LTD 6.63 05/18/20 USD 35.57
HUAIAN CITY HUAIAN DIST 4.63 05/03/23 CNY 64.10
HUAIAN CITY HUAIAN DIST 4.63 05/03/23 CNY 60.17
HUAIAN CITY URBAN ASSET 5.70 04/23/22 CNY 41.54
HUAIAN CITY URBAN ASSET 5.70 04/23/22 CNY 40.76
HUAIAN CITY XUYI URBAN 5.10 04/15/23 CNY 59.90
HUAIAN CITY XUYI URBAN 5.10 04/15/23 CNY 59.20
HUAI'AN DEVELOPMENT HOL 7.30 03/10/21 CNY 27.84
HUAI'AN DEVELOPMENT HOL 7.30 03/10/21 CNY 20.24
HUAIAN HONGRI TRANSPORT 5.09 04/20/23 CNY 59.27
HUAIAN HONGRI TRANSPORT 5.09 04/20/23 CNY 58.56
HUAIAN HONGZE DISTRICT 4.37 07/18/23 CNY 58.85
HUAIAN HONGZE DISTRICT 4.37 07/18/23 CNY 58.44
HUAI'AN NEW CITY INVEST 6.95 07/28/21 CNY 27.50
HUAI'AN NEW CITY INVEST 6.95 07/28/21 CNY 20.40
HUAI'AN NEW CITY INVEST 7.45 03/04/21 CNY 20.21
HUAI'AN NEW CITY INVEST 7.45 03/04/21 CNY 20.00
HUAIHUA CITY CONSTRUCTI 4.18 08/31/23 CNY 58.67
HUAIHUA CITY CONSTRUCTI 4.18 08/31/23 CNY 58.64
HUAIHUA CITY INDUSTRIAL 7.70 10/29/20 CNY 20.04
HUAIHUA ECONOMIC DEVELO 6.80 03/26/22 CNY 40.08
HUAIHUA ECONOMIC DEVELO 6.80 03/26/22 CNY 40.00
HUAIHUA TRANSPORTATION 4.96 04/12/23 CNY 59.99
HUAIHUA TRANSPORTATION 4.96 04/12/23 CNY 59.19
HUAINAN URBAN CONSTRUCT 6.79 07/09/21 CNY 21.65
HUAINAN URBAN CONSTRUCT 6.79 07/09/21 CNY 20.43
HUANGGANG CITY CONSTRUC 4.08 01/18/23 CNY 60.21
HUANGGANG CITY CONSTRUC 7.45 03/04/21 CNY 20.30
HUANGGANG CITY CONSTRUC 8.60 12/25/20 CNY 20.27
HUANGGANG CITY CONSTRUC 7.45 03/04/21 CNY 20.23
HUANGSHAN CHENGTOU GROU 5.95 05/06/22 CNY 40.82
HUANGSHAN CHENGTOU GROU 5.95 05/06/22 CNY 40.65
HUANGSHI CIHU HIGH-TECH 4.50 06/08/23 CNY 63.00
HUANGSHI CIHU HIGH-TECH 4.50 06/08/23 CNY 60.20
HUANGSHI CIHU HIGH-TECH 4.97 06/08/23 CNY 60.17
HUANGSHI CIHU HIGH-TECH 4.97 06/08/23 CNY 60.14
HUANGSHI CIHU HIGH-TECH 9.30 01/21/21 CNY 20.25
HUANGSHI CIHU HIGH-TECH 8.70 12/05/20 CNY 20.09
HUANGSHI URBAN CONSTRUC 5.99 04/29/22 CNY 40.87
HUANGSHI URBAN CONSTRUC 5.99 04/29/22 CNY 40.80
HUAWEN MEDIA GROUP 6.00 04/04/21 CNY 66.43
HUBEI PROVINCE CHANGJIA 6.15 04/03/22 CNY 42.40
HUBEI PROVINCE CHANGJIA 6.15 04/03/22 CNY 40.86
HUBEI SUPPLY AND MARKET 6.70 08/23/24 CNY 74.35
HULUDAO INVESTMENT GROU 7.50 10/18/23 CNY 61.60
HULUDAO INVESTMENT GROU 7.05 10/18/20 CNY 20.04
HULUDAO INVESTMENT GROU 7.05 10/18/20 CNY 20.01
HULUNBEIER INVESTMENT C 6.31 04/30/22 CNY 40.42
HULUNBEIER INVESTMENT C 6.31 04/30/22 CNY 40.00
HUNAN CHANGDE DEYUAN IN 6.50 06/16/21 CNY 22.25
HUNAN CHANGDE DEYUAN IN 6.50 06/16/21 CNY 20.33
HUNAN CHENGLINGJI HARBO 4.24 07/21/23 CNY 59.32
HUNAN CHENGLINGJI HARBO 4.24 07/21/23 CNY 58.24
HUNAN CHUZHISHENG HOLDI 5.60 12/18/22 CNY 60.93
HUNAN CHUZHISHENG HOLDI 5.60 12/18/22 CNY 60.34
HUNAN JINYANG INVESTMEN 4.37 01/19/23 CNY 60.03
HUNAN JINYANG INVESTMEN 4.37 01/19/23 CNY 59.65
HUNAN JINYANG INVESTMEN 4.39 04/06/23 CNY 59.59
HUNAN JINYANG INVESTMEN 4.39 04/06/23 CNY 58.72
HUNAN JINYANG INVESTMEN 5.70 11/27/21 CNY 39.42
HUNAN JINYANG INVESTMEN 5.70 11/27/21 CNY 38.60
HUNAN LOUDI ECONOMIC & 4.89 03/30/23 CNY 57.83
HUNAN LOUDI ECONOMIC & 4.89 03/30/23 CNY 56.93
HUNAN LOUDI ECONOMIC & 6.36 03/13/22 CNY 47.00
HUNAN LOUDI ECONOMIC & 6.36 03/13/22 CNY 38.70
HUNAN PROVINCIAL RAILWA 6.09 04/30/25 CNY 72.88
HUNAN PROVINCIAL RAILWA 6.09 04/30/25 CNY 70.00
HUNAN SHAODONG ECO-INDU 6.50 01/11/23 CNY 61.73
HUNAN SHAODONG ECO-INDU 6.50 01/11/23 CNY 59.31
HUNAN TIER GROUP CO LTD 4.20 03/17/23 CNY 58.47
HUNAN TIER GROUP CO LTD 4.20 03/17/23 CNY 58.45
HUNAN TIER GROUP CO LTD 8.00 12/23/20 CNY 22.72
HUNAN TIER GROUP CO LTD 7.10 03/03/21 CNY 20.30
HUNAN TIER GROUP CO LTD 7.10 03/03/21 CNY 20.23
HUNAN TIER GROUP CO LTD 8.00 12/23/20 CNY 20.16
HUNAN XIANGJIANG NEW AR 7.36 03/17/21 CNY 20.33
HUNAN XIANGJIANG NEW AR 7.36 03/17/21 CNY 20.00
HUNAN YOUZHOU INVESTMEN 4.80 07/07/23 CNY 59.92
HUNAN YOUZHOU INVESTMEN 4.80 07/07/23 CNY 59.91
HUZHOU URBAN CONSTRUCTI 6.48 08/28/21 CNY 22.38
HUZHOU URBAN CONSTRUCTI 6.48 08/28/21 CNY 20.20
HUZHOU WUXING NANTAIHU 8.79 01/16/21 CNY 20.29
HUZHOU WUXING NANTAIHU 8.79 01/16/21 CNY 20.10
HUZHOU XISAISHAN DEVELO 7.80 04/29/21 CNY 20.22
HUZHOU XISAISHAN DEVELO 7.80 04/29/21 CNY 20.00
INNER MONGOLIA JINLONG 7.30 11/19/22 CNY 60.27
INNER MONGOLIA JINLONG 7.30 11/19/22 CNY 59.50
INNER MONGOLIA KE'ERQIN 6.45 04/30/22 CNY 40.00
INNER MONGOLIA KE'ERQIN 6.50 03/11/22 CNY 40.00
INNER MONGOLIA KE'ERQIN 6.50 03/11/22 CNY 39.01
INNER MONGOLIA KE'ERQIN 6.45 04/30/22 CNY 38.85
INNER MONGOLIA SHENGXIA 8.18 08/21/21 CNY 24.00
INNER MONGOLIA SHENGXIA 8.18 08/21/21 CNY 20.14
INNER MONGOLIA ZHUNGEER 6.54 12/31/21 CNY 42.10
INNER MONGOLIA ZHUNGEER 6.54 12/31/21 CNY 40.85
JIAN CITY JINGANGSHAN D 4.87 01/27/23 CNY 59.78
JIAN CITY JINGANGSHAN D 4.87 01/27/23 CNY 58.60
JIAN CITY JINGANGSHAN D 7.99 06/03/21 CNY 20.87
JIAN CITY JINGANGSHAN D 7.99 06/03/21 CNY 20.33
JIANAN INVESTMENT HOLDI 4.30 03/08/23 CNY 60.28
JIANAN INVESTMENT HOLDI 4.30 03/08/23 CNY 60.24
JIANAN INVESTMENT HOLDI 3.85 09/05/23 CNY 60.00
JIANAN INVESTMENT HOLDI 3.85 09/05/23 CNY 59.70
JIANAN INVESTMENT HOLDI 3.50 09/05/23 CNY 59.41
JIANAN INVESTMENT HOLDI 6.85 05/23/21 CNY 26.50
JIANAN INVESTMENT HOLDI 6.85 05/23/21 CNY 20.45
JIANGDONG HOLDING GROUP 7.14 04/24/21 CNY 20.26
JIANGMEN NEW HI-TECH IN 6.03 04/22/22 CNY 41.10
JIANGMEN NEW HI-TECH IN 6.03 04/22/22 CNY 40.83
JIANGMEN NEW HI-TECH IN 7.39 11/04/20 CNY 20.04
JIANGSU BEIGU INDUSTRIA 5.80 06/20/23 CNY 60.94
JIANGSU BEIGU INDUSTRIA 5.80 06/20/23 CNY 59.77
JIANGSU DAHANG LINGANG 5.18 09/22/23 CNY 59.08
JIANGSU DAHANG LINGANG 5.18 09/22/23 CNY 58.61
JIANGSU GAOCHUN ECONOMI 3.67 09/23/23 CNY 59.37
JIANGSU GAOCHUN ECONOMI 3.67 09/23/23 CNY 59.25
JIANGSU HAIZHOU DEVELOP 4.67 06/06/23 CNY 61.51
JIANGSU HAIZHOU DEVELOP 4.67 06/06/23 CNY 60.45
JIANGSU HAIZHOUWAN DEVE 5.37 03/29/23 CNY 45.00
JIANGSU HANRUI INVESTME 4.63 04/15/23 CNY 60.51
JIANGSU HANRUI INVESTME 4.63 04/15/23 CNY 60.35
JIANGSU HANRUI INVESTME 5.00 08/31/23 CNY 58.27
JIANGSU HANRUI INVESTME 5.00 08/31/23 CNY 57.91
JIANGSU JINGUAN INVESTM 7.90 04/08/21 CNY 20.80
JIANGSU JINGUAN INVESTM 7.90 04/08/21 CNY 20.35
JIANGSU JINTAN GUOFA IN 4.60 08/22/23 CNY 58.59
JIANGSU JINTAN GUOFA IN 4.60 08/22/23 CNY 58.27
JIANGSU JINTAN GUOFA IN 6.85 05/30/21 CNY 20.23
JIANGSU JINTAN GUOFA IN 6.85 05/30/21 CNY 20.00
JIANGSU JURONG FUDI BIO 7.70 03/21/21 CNY 40.70
JIANGSU JURONG FUDI BIO 7.70 03/21/21 CNY 40.48
JIANGSU NANTONG NO2 CON 8.10 07/10/21 CNY 20.14
JIANGSU RUNCHENG ASSET 7.88 04/16/21 CNY 28.80
JIANGSU RUNCHENG ASSET 7.88 04/16/21 CNY 20.37
JIANGSU RUNQI WANGUO IN 4.14 10/21/21 CNY 59.99
JIANGSU RUNQI WANGUO IN 4.14 10/21/21 CNY 59.18
JIANGSU SUHAI INVESTMEN 7.28 05/29/21 CNY 25.00
JIANGSU SUHAI INVESTMEN 7.28 05/29/21 CNY 20.18
JIANGSU TAICANG PORT DE 7.40 04/28/21 CNY 20.44
JIANGSU TAICANG PORT DE 7.40 04/28/21 CNY 20.00
JIANGSU WUZHONG ECONOMI 5.49 11/19/21 CNY 40.51
JIANGSU WUZHONG ECONOMI 5.49 11/19/21 CNY 40.32
JIANGSU XISHAN ECONOMIC 5.78 07/20/22 CNY 40.89
JIANGSU XISHAN ECONOMIC 5.78 07/20/22 CNY 40.00
JIANGSU YANGKOU PORT CO 6.23 04/10/22 CNY 47.50
JIANGSU YANGKOU PORT CO 6.23 04/10/22 CNY 40.73
JIANGSU YINGZHOU DEVELO 4.33 09/21/23 CNY 58.17
JIANGSU YINGZHOU DEVELO 4.33 09/21/23 CNY 57.86
JIANGSU YIXING ECONOMIC 7.69 04/18/21 CNY 30.19
JIANGSU YIXING ECONOMIC 7.69 04/18/21 CNY 20.40
JIANGSU ZHANGJIAGANG EC 3.95 03/22/23 CNY 60.07
JIANGSU ZHANGJIAGANG EC 3.95 03/22/23 CNY 60.00
JIANGSU ZHUFU INDUSTRIA 4.47 07/20/23 CNY 58.90
JIANGSU ZHUFU INDUSTRIA 4.47 07/20/23 CNY 56.30
JIANGSU ZHUFU INDUSTRIA 4.93 12/29/20 CNY 40.13
JIANGXI HEJI INVESTMENT 5.09 12/17/22 CNY 60.00
JIANGXI HEJI INVESTMENT 5.09 12/17/22 CNY 59.78
JIANGXI HUIHENG PROPERT 4.43 08/30/21 CNY 40.13
JIANGXI HUIHENG PROPERT 4.43 08/30/21 CNY 39.91
JIANGXI LONGHU MOUNTAIN 4.35 03/16/23 CNY 59.53
JIANGXI LONGHU MOUNTAIN 4.35 03/16/23 CNY 59.50
JIANGXI PINGXIANG CHANG 8.18 05/22/21 CNY 29.34
JIANGXI PINGXIANG CHANG 8.18 05/22/21 CNY 20.39
JIANGXI PROVINCE SITONG 8.20 04/18/21 CNY 20.56
JIANGXI PROVINCE SITONG 8.20 04/18/21 CNY 20.33
JIANGYIN LINGANG NEW CI 7.10 11/07/20 CNY 21.00
JIANGYIN LINGANG NEW CI 7.10 11/07/20 CNY 20.04
JIANGYOU HONGFEI INVEST 6.55 09/02/22 CNY 40.61
JIANGYOU HONGFEI INVEST 6.55 09/02/22 CNY 40.31
JIANHU COUNTY DEVELOPME 7.29 09/25/21 CNY 22.75
JIANHU COUNTY DEVELOPME 7.29 09/25/21 CNY 20.21
JIANHU URBAN CONSTRUCTI 3.28 10/13/21 CNY 71.00
JIANHU URBAN CONSTRUCTI 3.28 10/13/21 CNY 69.54
JIANHU URBAN CONSTRUCTI 6.30 06/01/22 CNY 42.86
JIANHU URBAN CONSTRUCTI 6.30 06/01/22 CNY 40.09
JIAXING ECONOMIC&TECHNO 7.89 03/05/21 CNY 21.13
JIAXING ECONOMIC&TECHNO 7.89 03/05/21 CNY 20.37
JIAXING NANHU INVESTMEN 7.45 02/26/21 CNY 21.80
JIAXING NANHU INVESTMEN 7.45 02/26/21 CNY 20.24
JIAXING XIANGJIADANG DE 3.87 09/21/23 CNY 59.94
JIAXING XIANGJIADANG DE 4.13 07/20/23 CNY 59.53
JIAXING XIANGJIADANG DE 4.13 07/20/23 CNY 58.22
JIAXING XIANGJIADANG DE 3.87 09/21/23 CNY 57.78
JIAYU COUNTY URBAN TOWN 5.70 01/19/23 CNY 60.59
JIAYU COUNTY URBAN TOWN 5.70 01/19/23 CNY 60.59
JIAYUGUAN CITY INFRASTR 7.83 09/23/21 CNY 20.32
JIAYUGUAN CITY INFRASTR 7.83 09/23/21 CNY 20.00
JIEYANG CITY INVESTMENT 6.55 08/27/21 CNY 20.31
JILIN CITY CONSTRUCTION 3.80 01/27/23 CNY 59.90
JILIN CITY CONSTRUCTION 3.80 01/27/23 CNY 59.55
JILIN ECONOMIC AND TECH 6.20 04/29/23 CNY 60.33
JILIN ECONOMIC AND TECH 6.20 04/29/23 CNY 59.55
JILIN NORTHEAST SOCK IN 7.50 05/19/22 CNY 71.28
JILIN NORTHEAST SOCK IN 6.80 12/19/21 CNY 70.10
JILIN RAILWAY INVESTMEN 7.18 03/04/21 CNY 20.11
JILIN RAILWAY INVESTMEN 7.18 03/04/21 CNY 19.76
JINAN CITY CONSTRUCTION 6.80 03/20/21 CNY 20.28
JINAN CITY CONSTRUCTION 6.80 03/20/21 CNY 20.20
JINAN CITY LICHENG DIST 5.00 06/23/22 CNY 39.58
JINAN CITY LICHENG DIST 5.00 06/23/22 CNY 39.56
JINAN HI-TECH HOLDING G 6.38 06/19/21 CNY 20.30
JINAN HI-TECH HOLDING G 6.38 06/19/21 CNY 20.30
JINCHANG CONSTRUCTION I 6.79 12/21/22 CNY 60.46
JINCHANG CONSTRUCTION I 6.79 12/21/22 CNY 60.00
JINCHENG STATE-OWNED CA 4.99 11/11/21 CNY 40.36
JINCHENG STATE-OWNED CA 4.99 11/11/21 CNY 40.20
JINGDEZHEN CERAMIC CULT 5.38 11/27/22 CNY 60.24
JINGDEZHEN CERAMIC CULT 5.38 11/27/22 CNY 60.00
JINGHONG STATE-OWNED AS 8.08 05/23/21 CNY 20.23
JINGHONG STATE-OWNED AS 8.08 05/23/21 CNY 20.00
JINGJIANG CITY INVESTME 4.55 03/30/23 CNY 60.08
JINGJIANG CITY INVESTME 4.55 03/30/23 CNY 59.22
JINGJIANG HARBOUR GROUP 7.30 08/05/21 CNY 28.68
JINGJIANG HARBOUR GROUP 7.30 08/05/21 CNY 20.24
JINGMEN CITY CONSTRUCTI 6.85 07/09/22 CNY 30.90
JINGMEN CITY CONSTRUCTI 6.85 07/09/22 CNY 30.74
JINGMEN CITY CONSTRUCTI 7.00 10/17/20 CNY 20.00
JINGMEN CITY CONSTRUCTI 7.00 10/17/20 CNY 18.57
JINGMEN HIGH-TECH DEVEL 4.15 07/28/23 CNY 59.27
JINGMEN HIGH-TECH DEVEL 4.15 07/28/23 CNY 58.33
JINGMEN HIGH-TECH DEVEL 5.48 08/11/22 CNY 40.73
JINGMEN HIGH-TECH DEVEL 5.48 08/11/22 CNY 39.80
JINGSHAN JINGCHENG INVE 4.38 08/29/23 CNY 60.07
JINGSHAN JINGCHENG INVE 4.38 08/29/23 CNY 59.33
JINGZHOU DEVELOPMENT ZO 8.20 12/09/20 CNY 20.14
JINGZHOU DEVELOPMENT ZO 8.20 12/09/20 CNY 20.10
JINGZHOU URBAN CONSTRUC 3.97 03/10/23 CNY 60.14
JINGZHOU URBAN CONSTRUC 3.97 03/10/23 CNY 60.07
JINHU COUNTY STATE-OWNE 4.00 07/26/22 CNY 50.16
JINHU COUNTY STATE-OWNE 4.00 07/26/22 CNY 50.15
JINHU COUNTY STATE-OWNE 7.75 08/25/21 CNY 21.33
JINHU COUNTY STATE-OWNE 7.75 08/25/21 CNY 20.47
JINING CITY SHIZHONG DI 3.52 09/14/23 CNY 59.19
JINING CITY SHIZHONG DI 6.39 01/29/22 CNY 44.44
JINING CITY SHIZHONG DI 6.39 01/29/22 CNY 40.57
JINING HIGH TECH URBAN 6.09 04/30/22 CNY 41.50
JINING HIGH TECH URBAN 6.09 04/30/22 CNY 40.90
JINSHA COUNTY CONSTRUCT 6.01 09/05/23 CNY 58.81
JINSHA COUNTY CONSTRUCT 6.01 09/05/23 CNY 58.81
JINTANG MODERN AGRICULT 5.49 07/14/23 CNY 58.83
JINTANG MODERN AGRICULT 5.49 07/14/23 CNY 57.88
JINZHAI URBAN DEVELOPME 5.90 04/25/23 CNY 61.10
JINZHAI URBAN DEVELOPME 5.90 04/25/23 CNY 60.77
JINZHOU CITY INVESTMENT 6.44 08/18/21 CNY 24.91
JINZHOU CITY INVESTMENT 8.50 12/27/20 CNY 20.60
JINZHOU CITY INVESTMENT 6.44 08/18/21 CNY 20.19
JINZHOU CITY INVESTMENT 8.50 12/27/20 CNY 20.12
JINZHOU HUAXING INVESTM 8.38 02/25/21 CNY 25.00
JINZHOU HUAXING INVESTM 9.10 01/21/21 CNY 20.90
JINZHOU HUAXING INVESTM 8.38 02/25/21 CNY 20.18
JINZHOU HUAXING INVESTM 9.10 01/21/21 CNY 20.16
JISHOU HUATAI STATE OWN 7.18 02/09/22 CNY 42.82
JISHOU HUATAI STATE OWN 7.18 02/09/22 CNY 40.36
JIUJIANG CITY CONSTRUCT 5.50 05/22/22 CNY 40.80
JIUJIANG CITY CONSTRUCT 5.50 05/22/22 CNY 39.55
JIUJIANG LAND INVESTMEN 6.20 03/23/22 CNY 40.77
JIUJIANG LAND INVESTMEN 6.20 03/23/22 CNY 40.36
JIUJIANG LIANXI DISTRIC 4.58 03/30/23 CNY 59.76
JIUJIANG LIANXI DISTRIC 4.58 03/30/23 CNY 59.67
JIUQUAN ECONOMIC DEVELO 7.40 02/26/21 CNY 20.60
JIUQUAN ECONOMIC DEVELO 7.40 02/26/21 CNY 20.24
JIXI STATE OWN ASSET MA 6.87 01/19/22 CNY 40.85
JIXI STATE OWN ASSET MA 6.87 01/19/22 CNY 40.08
KAIFENG URBAN OPERATION 6.35 03/23/22 CNY 40.11
KAIFENG URBAN OPERATION 6.35 03/23/22 CNY 40.11
KAIFU CITY DEVELOPMENT 4.20 01/21/23 CNY 60.08
KAIFU CITY DEVELOPMENT 3.73 08/22/23 CNY 59.49
KAIFU CITY DEVELOPMENT 3.73 08/22/23 CNY 59.42
KAILI GUIZHOU TOWN CONS 5.29 12/17/22 CNY 60.00
KAILI GUIZHOU TOWN CONS 5.29 12/17/22 CNY 58.50
KANGMEI PHARMACEUTICAL 6.33 01/27/22 CNY 36.69
KANGMEI PHARMACEUTICAL 5.47 09/15/22 CNY 21.25
KANGMEI PHARMACEUTICAL 5.29 08/16/22 CNY 21.25
KANGMEI PHARMACEUTICAL 5.20 07/17/22 CNY 21.25
KANGMEI PHARMACEUTICAL 6.80 06/28/21 CNY 21.25
KANGMEI PHARMACEUTICAL 7.00 06/21/21 CNY 21.25
KANGMEI PHARMACEUTICAL 5.50 04/20/21 CNY 21.25
KANGMEI PHARMACEUTICAL 6.10 03/28/21 CNY 21.25
KANGMEI PHARMACEUTICAL 6.28 03/20/21 CNY 21.25
KASHI URBAN CONSTRUCTIO 5.80 07/20/22 CNY 40.76
KASHI URBAN CONSTRUCTIO 5.80 07/20/22 CNY 40.00
KUNMING DONGJUN REAL ES 4.50 11/02/21 CNY 49.50
KUNSHAN COMMUNICATION D 6.95 05/22/21 CNY 25.45
KUNSHAN COMMUNICATION D 6.95 05/22/21 CNY 20.26
KUNSHAN HIGH TECHNOLOGY 7.10 03/26/21 CNY 20.29
KUNSHAN HIGH TECHNOLOGY 7.10 03/26/21 CNY 19.90
LAIWU CITY ECONOMIC DEV 7.08 02/28/21 CNY 20.60
LAIWU CITY ECONOMIC DEV 7.08 02/28/21 CNY 20.19
LANZHOU STATE OWNED ASS 6.32 09/10/21 CNY 20.06
LANZHOU STATE OWNED ASS 6.32 09/10/21 CNY 14.90
LAOHEKOU CITY CONSTRUCT 6.75 08/12/22 CNY 40.47
LAOHEKOU CITY CONSTRUCT 6.75 08/12/22 CNY 40.42
LEIYANG CITY AND RURAL 7.80 04/10/22 CNY 41.38
LEIYANG CITY AND RURAL 7.80 04/10/22 CNY 41.35
LEQING CITY STATE OWNED 5.99 10/20/21 CNY 40.85
LEQING CITY STATE OWNED 5.99 10/20/21 CNY 40.50
LESHAN STATE-OWNED ASSE 5.68 10/22/21 CNY 40.44
LESHAN STATE-OWNED ASSE 5.68 10/22/21 CNY 40.00
LIANYUNGANG TRANSPORT G 5.47 11/17/21 CNY 45.00
LIANYUNGANG TRANSPORT G 5.47 11/17/21 CNY 40.43
LIAOCHENG ANTAI URBAN R 5.16 04/11/23 CNY 60.18
LIAOCHENG ANTAI URBAN R 5.16 04/11/23 CNY 60.10
LIAOCHENG ANTAI URBAN R 4.58 04/11/23 CNY 59.88
LIAOCHENG ANTAI URBAN R 4.58 04/11/23 CNY 59.73
LIAOCHENG XINGYE ECONOM 5.20 04/13/23 CNY 60.81
LIAOCHENG XINGYE ECONOM 5.20 04/13/23 CNY 57.91
LIAONING COASTAL ECONOM 8.90 04/01/21 CNY 11.12
LIAONING COASTAL ECONOM 8.90 04/01/21 CNY 3.63
LIAONING YAODU DEVELOPM 6.50 04/29/23 CNY 60.64
LILING HIGH-TECH INDUST 4.93 01/19/23 CNY 59.36
LILING HIGH-TECH INDUST 4.93 01/19/23 CNY 59.23
LINFEN YAODU DISTRICT I 7.19 03/13/22 CNY 40.56
LINFEN YAODU DISTRICT I 7.19 03/13/22 CNY 40.49
LISHUI CITY CONSTRUCTIO 5.67 08/13/22 CNY 40.95
LISHUI CITY CONSTRUCTIO 5.67 08/13/22 CNY 40.55
LIUPANSHUI DEVELOPMENT 3.74 01/20/23 CNY 59.65
LIUPANSHUI MINSHENG INV 5.08 01/29/23 CNY 59.13
LIUPANSHUI MINSHENG INV 5.08 01/29/23 CNY 59.04
LIUYANG MODERN MANUFACT 4.72 01/19/23 CNY 59.46
LIUYANG MODERN MANUFACT 4.72 01/19/23 CNY 59.09
LIUYANG NEW INDUSTRIAL 4.43 10/23/22 CNY 60.30
LIUYANG NEW INDUSTRIAL 4.43 10/23/22 CNY 60.09
LIUYANG URBAN CONSTRUCT 4.45 05/24/23 CNY 60.65
LIUYANG URBAN CONSTRUCT 4.45 05/24/23 CNY 60.41
LIUYANG URBAN CONSTRUCT 6.98 08/22/21 CNY 20.60
LIUYANG URBAN CONSTRUCT 6.98 08/22/21 CNY 20.50
LIUZHOU CITY INVESTMENT 7.18 12/31/22 CNY 46.09
LIUZHOU DONGTONG INVEST 4.45 07/22/23 CNY 58.04
LIUZHOU DONGTONG INVEST 4.45 07/22/23 CNY 58.02
LIUZHOU INVESTMENT HOLD 4.28 03/08/23 CNY 59.60
LIUZHOU INVESTMENT HOLD 4.28 03/08/23 CNY 59.49
LIUZHOU LONGJIAN INVEST 8.28 04/30/24 CNY 63.05
LIUZHOU LONGJIAN INVEST 8.28 04/30/24 CNY 60.22
LIYANG KUNLUN URBAN CON 5.90 10/24/21 CNY 40.34
LIYANG KUNLUN URBAN CON 5.90 10/24/21 CNY 38.00
LONGHAI STATE-OWNED ASS 6.58 08/15/21 CNY 20.31
LONGYAN RAILWAY CONSTRU 4.98 04/13/23 CNY 59.94
LONGYAN RAILWAY CONSTRU 4.98 04/13/23 CNY 59.19
LOUDI CITY CONSTRUCTION 7.95 04/15/21 CNY 30.31
LOUDI CITY CONSTRUCTION 7.95 04/15/21 CNY 20.37
LOUDI TIDU INVESTMENT D 4.83 01/20/23 CNY 59.81
LOUDI TIDU INVESTMENT D 4.83 01/20/23 CNY 59.69
LOUDI TIDU INVESTMENT D 7.18 08/27/21 CNY 20.30
LOUDI TIDU INVESTMENT D 7.18 08/27/21 CNY 20.00
LOUDI WANBAO NEW DISTRI 5.13 02/01/23 CNY 59.53
LOUDI WANBAO NEW DISTRI 5.13 02/01/23 CNY 59.35
LOUDI WANBAO NEW DISTRI 4.42 08/01/23 CNY 58.51
LOUDI WANBAO NEW DISTRI 4.42 08/01/23 CNY 58.46
LU'AN CITY CONSTRUCTION 5.05 04/26/21 CNY 50.43
LU'AN CITY CONSTRUCTION 3.97 02/22/21 CNY 50.13
LUJIANG CITY CONSTRUCTI 6.70 04/16/22 CNY 40.99
LUJIANG CITY CONSTRUCTI 6.70 04/16/22 CNY 40.00
LUOYANG CITY COUNTRY CO 4.28 04/26/23 CNY 60.42
LUOYANG CITY DEVELOPMEN 4.47 12/02/22 CNY 60.50
LUOYANG CITY DEVELOPMEN 4.47 12/02/22 CNY 60.00
LUZHOU FUYANG INVESTMEN 5.00 08/11/23 CNY 60.10
LUZHOU FUYANG INVESTMEN 5.00 08/11/23 CNY 58.90
LUZHOU XINGLU INVESTMEN 6.41 04/23/25 CNY 74.21
LUZHOU XINGLU INVESTMEN 6.41 04/23/25 CNY 70.00
LUZHOU XINGYANG INVESTM 4.87 01/28/23 CNY 59.68
LUZHOU XINGYANG INVESTM 4.87 01/28/23 CNY 59.66
MA'ANSHAN CIHU HIGH TEC 6.85 09/09/21 CNY 23.00
MA'ANSHAN CIHU HIGH TEC 6.85 09/09/21 CNY 20.40
MAANSHAN ECONOMIC TECHN 6.49 03/06/22 CNY 44.99
MAANSHAN ECONOMIC TECHN 6.49 03/06/22 CNY 40.39
MAANSHAN HUASHAN DISTRI 6.07 04/20/22 CNY 40.99
MAANSHAN SOUTHERN INDUS 4.43 09/02/23 CNY 58.98
MAANSHAN SOUTHERN INDUS 4.43 09/02/23 CNY 58.47
MAANSHAN SOUTHERN INDUS 4.53 07/25/23 CNY 58.32
MAANSHAN SOUTHERN INDUS 4.53 07/25/23 CNY 57.98
MEISHAN ASSET MANAGEMEN 7.84 02/26/21 CNY 20.29
MEISHAN ASSET MANAGEMEN 7.84 02/26/21 CNY 20.24
MEISHAN CITY DONGPO DEV 5.90 06/30/23 CNY 59.18
MEISHAN CITY DONGPO DEV 5.90 06/30/23 CNY 58.90
MEISHAN HONGDA CONSTRUC 4.18 03/28/23 CNY 59.28
MEISHAN HONGDA CONSTRUC 4.18 03/28/23 CNY 59.11
MEIZHOU CITY XIN JIN YE 6.02 04/22/22 CNY 45.32
MEIZHOU CITY XIN JIN YE 6.02 04/22/22 CNY 40.74
MEIZHOU MEI COUNTY DIST 5.00 12/30/22 CNY 60.38
MEIZHOU MEI COUNTY DIST 5.00 12/30/22 CNY 60.00
MUDANJIANG AREA URBAN D 6.48 06/30/22 CNY 45.00
MUDANJIANG AREA URBAN D 6.48 06/30/22 CNY 41.17
MUDANJIANG STATE-OWNED 7.70 04/14/21 CNY 20.18
MUDANJIANG STATE-OWNED 7.70 04/14/21 CNY 20.17
MUNICIPALITY OF SHENZHE 3.00 03/29/22 CNY 60.00
MUNICIPALITY OF SHENZHE 3.00 03/29/22 CNY 60.00
NANCHANG ECONOMY TECHNO 3.83 09/22/23 CNY 59.95
NANCHANG ECONOMY TECHNO 3.83 09/22/23 CNY 59.50
NANCHONG AIRPORT INVEST 6.80 01/26/22 CNY 40.25
NANCHONG AIRPORT INVEST 6.80 01/26/22 CNY 40.24
NANCHONG ECONOMIC DEVEL 8.28 04/21/21 CNY 31.20
NANCHONG ECONOMIC DEVEL 8.28 04/21/21 CNY 20.36
NANJING BAIXIA STATE-OW 3.98 03/29/23 CNY 60.18
NANJING BAIXIA STATE-OW 3.98 03/29/23 CNY 60.15
NANJING HEXI NEW TOWN A 3.47 06/17/21 CNY 40.07
NANJING HEXI NEW TOWN A 3.20 07/22/21 CNY 39.90
NANJING JIANGNING ECONO 7.94 04/14/24 CNY 64.99
NANJING JIANGNING ECONO 7.94 04/14/24 CNY 64.30
NANJING JIANYE SCIENCE 4.37 06/24/23 CNY 60.44
NANJING JIANYE SCIENCE 4.37 06/24/23 CNY 60.14
NANJING LISHUI ECONOMIC 6.27 09/22/21 CNY 21.29
NANJING LISHUI ECONOMIC 6.27 09/22/21 CNY 20.48
NANJING LISHUI URBAN CO 4.97 04/28/23 CNY 60.94
NANJING LISHUI URBAN CO 4.97 04/28/23 CNY 60.80
NANJING METRO GROUP CO 3.29 08/29/23 CNY 59.71
NANJING QIXIA STATE-OWN 4.10 06/24/23 CNY 60.24
NANJING QIXIA STATE-OWN 4.10 06/24/23 CNY 60.15
NANJING STATE OWNED ASS 5.60 03/06/23 CNY 46.19
NANJING STATE OWNED ASS 5.60 03/06/23 CNY 45.91
NANJING TANGSHAN CONSTR 6.80 06/30/21 CNY 26.80
NANJING TANGSHAN CONSTR 6.80 06/30/21 CNY 20.45
NANNING HI-TECH INDUSTR 4.28 03/25/23 CNY 58.93
NANNING HI-TECH INDUSTR 4.28 03/25/23 CNY 55.20
NANNING LVGANG CONSTRUC 7.30 06/27/21 CNY 24.80
NANNING LVGANG CONSTRUC 7.30 06/27/21 CNY 20.29
NANPING CITY WUYI NEW D 4.96 09/28/22 CNY 40.60
NANPING CITY WUYI NEW D 4.96 09/28/22 CNY 40.34
NANTONG CHONGCHUAN URBA 5.70 07/21/22 CNY 71.73
NANTONG CHONGCHUAN URBA 5.70 07/21/22 CNY 70.00
NANTONG CHONGCHUAN URBA 7.15 04/18/21 CNY 25.40
NANTONG CHONGCHUAN URBA 7.15 04/18/21 CNY 20.33
NANTONG CITY GANGZHA DI 3.80 09/06/21 CNY 40.01
NANTONG CITY GANGZHA DI 3.80 09/06/21 CNY 39.68
NANTONG CITY TONGZHOU D 3.75 07/07/23 CNY 59.51
NANTONG HIGH TECHNOLOGY 5.00 10/19/22 CNY 61.52
NANTONG HIGH TECHNOLOGY 5.00 10/19/22 CNY 60.78
NANTONG SUTONG SCIENCE 6.20 03/18/22 CNY 40.84
NANTONG SUTONG SCIENCE 6.20 03/18/22 CNY 40.00
NANYANG HIGH-TECH DISTR 6.45 04/29/23 CNY 61.46
NANYANG HIGH-TECH DISTR 6.45 04/29/23 CNY 60.78
NANYANG INVESTMENT GROU 7.05 10/24/20 CNY 20.17
NANYANG INVESTMENT GROU 7.05 10/24/20 CNY 20.03
NEIJIANG CITY XINGYUAN 4.28 08/16/23 CNY 58.37
NEIJIANG CITY XINGYUAN 4.28 08/16/23 CNY 57.59
NEIJIANG INVESTMENT HOL 7.99 04/24/21 CNY 28.53
NEIJIANG INVESTMENT HOL 7.99 04/24/21 CNY 20.16
NEIJIANG STATE-OWNED AS 6.20 04/12/23 CNY 59.15
NEIJIANG STATE-OWNED AS 6.20 04/12/23 CNY 58.71
NEIJINAG CONSTRUCTION E 5.03 12/25/22 CNY 59.64
NEIJINAG CONSTRUCTION E 5.03 12/25/22 CNY 56.36
NEOGLORY HOLDING GROUP 8.10 11/23/18 CNY 72.00
NEOGLORY HOLDING GROUP 8.00 09/25/20 CNY 60.00
NEOGLORY HOLDING GROUP 8.00 10/22/20 CNY 56.00
NINGBO CITY HAISHU GUAN 7.75 03/06/21 CNY 26.30
NINGBO CITY HAISHU GUAN 7.75 03/06/21 CNY 20.26
NINGBO CITY ZHENHAI INV 5.85 12/04/21 CNY 40.47
NINGBO CITY ZHENHAI INV 5.85 12/04/21 CNY 40.46
NINGBO ECONOMIC & TECHN 7.09 04/21/21 CNY 29.00
NINGBO ECONOMIC & TECHN 7.09 04/21/21 CNY 20.32
NINGBO MEISHAN ISLAND D 6.27 03/23/22 CNY 48.29
NINGBO MEISHAN ISLAND D 6.27 03/23/22 CNY 40.91
NINGGUO CITY STATE OWNE 8.70 04/28/21 CNY 20.56
NINGGUO CITY STATE OWNE 8.70 04/28/21 CNY 20.00
NINGHAI COUNTY URBAN IN 8.00 01/02/21 CNY 25.00
NINGHAI COUNTY URBAN IN 7.99 04/16/21 CNY 20.70
NINGHAI COUNTY URBAN IN 7.99 04/16/21 CNY 20.48
NINGHAI COUNTY URBAN IN 8.00 01/02/21 CNY 20.18
NINGXIANG CITY CONSTRUC 6.70 01/20/22 CNY 40.76
NINGXIANG CITY CONSTRUC 6.70 01/20/22 CNY 40.20
NINGXIANG ECONOMIC TECH 3.87 01/27/23 CNY 59.98
NINGXIANG ECONOMIC TECH 3.87 01/27/23 CNY 59.50
NINGXIANG ECONOMIC TECH 8.20 04/16/21 CNY 20.36
NINGXIANG STATE-OWNED A 4.89 06/03/23 CNY 59.62
NINGXIANG STATE-OWNED A 4.89 06/03/23 CNY 58.98
ONE BELT ONE ROAD JIANG 4.70 07/15/23 CNY 60.36
ONE BELT ONE ROAD JIANG 4.70 07/15/23 CNY 60.27
PANJIN CITY SHUANGTAIZI 7.25 01/22/22 CNY 40.76
PANJIN CITY SHUANGTAIZI 7.25 01/22/22 CNY 40.28
PANSHAN COUNTY STATE-OW 7.48 01/21/22 CNY 40.50
PANSHAN COUNTY STATE-OW 7.48 01/21/22 CNY 40.50
PANZHIHUA STATE OWNED A 8.18 03/13/22 CNY 41.30
PANZHIHUA STATE OWNED A 8.18 03/13/22 CNY 41.20
PANZHIHUA STATE OWNED A 7.60 03/05/21 CNY 20.32
PANZHIHUA STATE OWNED A 7.60 03/05/21 CNY 20.19
PEIXIAN CITY INVESTMENT 5.20 11/10/22 CNY 60.00
PEIXIAN CITY INVESTMENT 5.20 11/10/22 CNY 59.91
PEKING UNIVERSITY FOUND 6.30 03/04/24 CNY 11.00
PEKING UNIVERSITY FOUND 6.50 11/16/23 CNY 11.00
PEKING UNIVERSITY FOUND 6.68 08/09/23 CNY 11.00
PEKING UNIVERSITY FOUND 5.80 01/28/22 CNY 11.00
PEKING UNIVERSITY FOUND 5.99 11/02/21 CNY 11.00
PEKING UNIVERSITY FOUND 6.10 08/22/21 CNY 11.00
PEKING UNIVERSITY FOUND 4.80 07/26/21 CNY 11.00
PEKING UNIVERSITY FOUND 6.30 09/12/20 CNY 11.00
PEKING UNIVERSITY FOUND 6.15 07/23/20 CNY 11.00
PEKING UNIVERSITY FOUND 6.20 05/31/20 CNY 11.00
PINGHU CITY INVESTMENT 5.13 04/29/23 CNY 60.85
PINGHU CITY INVESTMENT 5.13 04/29/23 CNY 60.75
PINGHU ECONOMIC DEVELOP 7.99 04/17/21 CNY 20.22
PINGLIANG CULTURAL & TO 6.85 11/30/22 CNY 60.54
PINGLIANG CULTURAL & TO 6.85 11/30/22 CNY 60.00
PINGTAN COMPREHENSIVE P 3.92 01/29/23 CNY 60.15
PINGXIANG CHANGXING INV 5.26 04/11/23 CNY 59.48
PINGXIANG CHANGXING INV 5.26 04/11/23 CNY 59.44
PINGXIANG HUIFENG INVES 6.60 01/26/22 CNY 40.54
PINGXIANG HUIFENG INVES 6.60 01/26/22 CNY 40.12
PINGYANG STATE-OWNED AS 4.97 01/08/23 CNY 60.18
PINGYANG STATE-OWNED AS 4.97 01/08/23 CNY 60.00
PIZHOU CITY HENGRUN INV 6.46 12/05/21 CNY 42.46
PIZHOU CITY HENGRUN INV 6.46 12/05/21 CNY 40.33
PIZHOU ECONOMIC DEVELOP 5.00 10/29/22 CNY 60.00
PIZHOU ECONOMIC DEVELOP 5.00 10/29/22 CNY 59.54
PIZHOU RUNCAI ASSET MAN 5.90 12/18/20 CNY 50.09
PUTIAN HIGH TECHNOLOGY 5.90 05/03/22 CNY 49.91
PUTIAN HIGH TECHNOLOGY 5.90 05/03/22 CNY 49.72
PUYANG INVESTMENT GROUP 8.00 12/11/20 CNY 20.13
PUYANG INVESTMENT GROUP 8.00 12/11/20 CNY 20.00
QIANAN URBAN CONSTRUCTI 7.19 08/11/21 CNY 20.52
QIANAN URBAN CONSTRUCTI 8.88 01/23/21 CNY 20.23
QIANAN URBAN CONSTRUCTI 7.19 08/11/21 CNY 20.00
QIANAN URBAN CONSTRUCTI 8.88 01/23/21 CNY 20.00
QIANAN XINGYUAN WATER I 6.25 04/22/22 CNY 46.90
QIANAN XINGYUAN WATER I 6.25 04/22/22 CNY 40.82
QIANDONGNAN TRANSPORTAT 5.79 12/21/22 CNY 57.68
QIANDONGNAN TRANSPORTAT 5.79 12/21/22 CNY 57.23
QIANDONGNANZHOU KAIHONG 5.30 09/22/26 CNY 74.47
QIANDONGNANZHOU KAIHONG 5.30 09/22/26 CNY 68.02
QIANJIANG URBAN CONSTRU 5.19 12/21/22 CNY 61.28
QIANJIANG URBAN CONSTRU 5.19 12/21/22 CNY 60.00
QIANJIANG URBAN CONSTRU 8.38 04/22/21 CNY 20.52
QIANJIANG URBAN CONSTRU 8.38 04/22/21 CNY 20.39
QIANNANZHOU INVESTMENT 6.43 03/09/22 CNY 38.65
QIANNANZHOU INVESTMENT 6.43 03/09/22 CNY 38.50
QIANXINAN AUTONOMOUS RE 5.90 06/22/23 CNY 59.48
QIANXINAN AUTONOMOUS RE 5.90 06/22/23 CNY 59.12
QIDONG COMMUNICATIONS I 4.00 03/18/23 CNY 59.94
QIDONG STATE-OWNED ASSE 4.00 03/09/23 CNY 60.16
QIDONG STATE-OWNED ASSE 4.00 03/09/23 CNY 59.30
QIDONG STATE-OWNED ASSE 7.30 11/20/22 CNY 46.48
QIDONG URBAN CONSTRUCTI 8.20 04/04/21 CNY 20.46
QIDONG URBAN CONSTRUCTI 7.90 04/28/21 CNY 20.34
QIDONG URBAN CONSTRUCTI 8.20 04/04/21 CNY 20.33
QIHE CITY OPERATION CON 5.10 03/07/23 CNY 60.14
QIHE CITY OPERATION CON 5.10 03/07/23 CNY 60.13
QINGDAO CHANGYANG INVES 3.73 09/12/23 CNY 59.70
QINGDAO CHANGYANG INVES 3.73 09/12/23 CNY 59.69
QINGDAO CONSON DEVELOPM 6.40 12/12/22 CNY 46.33
QINGDAO CONSON DEVELOPM 6.40 12/12/22 CNY 46.30
QINGDAO HICREAT DEVELOP 6.88 04/25/21 CNY 21.13
QINGDAO HICREAT DEVELOP 6.88 04/25/21 CNY 20.21
QINGDAO JIAOZHOU BAY DE 6.33 09/18/21 CNY 21.30
QINGDAO JIAOZHOU BAY DE 6.33 09/18/21 CNY 20.51
QINGDAO JIMO CITY TOURI 5.47 11/17/21 CNY 41.00
QINGDAO JIMO CITY TOURI 5.47 11/17/21 CNY 40.37
QINGDAO LAIXI CITY ASSE 7.50 03/06/21 CNY 28.79
QINGDAO LAIXI CITY ASSE 7.50 03/06/21 CNY 20.18
QINGDAO OCEAN INVESTMEN 4.36 05/12/23 CNY 60.61
QINGDAO OCEAN INVESTMEN 4.36 05/12/23 CNY 59.56
QINGDAO WEST COAST DEVE 4.26 06/06/23 CNY 60.45
QINGDAO WEST COAST DEVE 4.26 06/06/23 CNY 59.94
QINGHAI PROVINCIAL INVE 6.40 07/10/21 USD 35.56
QINGHAI PROVINCIAL INVE 7.88 03/22/21 USD 34.93
QINGHAI STATE-OWNED ASS 5.90 12/17/22 CNY 45.00
QINGHAI STATE-OWNED ASS 5.40 05/21/23 CNY 42.50
QINGYANG CITY ECONOMIC 7.98 04/16/21 CNY 20.21
QINGYANG CITY ECONOMIC 7.98 04/16/21 CNY 20.20
QINGYUAN TRANSPORTATION 8.20 12/19/20 CNY 20.14
QINGZHOU HONGYUAN PUBLI 7.59 05/29/21 CNY 20.29
QINHUANGDAO CITY DEVELO 4.69 04/14/23 CNY 60.59
QINHUANGDAO CITY DEVELO 4.69 04/14/23 CNY 58.97
QINHUANGDAO DEVELOPMENT 4.07 08/26/23 CNY 58.09
QINHUANGDAO DEVELOPMENT 4.07 08/26/23 CNY 57.69
QINHUANGDAO DEVELOPMENT 8.45 04/18/21 CNY 21.28
QINHUANGDAO DEVELOPMENT 8.45 04/18/21 CNY 20.26
QINHUANGDAO DEVELOPMENT 8.00 12/17/20 CNY 20.08
QINHUANGDAO DEVELOPMENT 8.00 12/17/20 CNY 20.00
QINZHOU BINHAI NEW CITY 6.99 07/07/21 CNY 20.28
QINZHOU BINHAI NEW CITY 6.99 07/07/21 CNY 20.00
QIONGLAI CITY CONSTRUCT 6.98 03/25/22 CNY 40.80
QIONGLAI CITY CONSTRUCT 6.98 03/25/22 CNY 40.72
QUANJIAO URBAN INFRASTR 5.10 05/18/23 CNY 59.28
QUANJIAO URBAN INFRASTR 5.10 05/18/23 CNY 59.26
QUJING CITY QILIN DISTR 5.37 11/26/22 CNY 61.95
QUJING CITY QILIN DISTR 5.37 11/26/22 CNY 59.40
QUJING DEVELOPMENT INVE 7.48 04/28/21 CNY 22.55
QUJING DEVELOPMENT INVE 7.48 04/28/21 CNY 20.21
QUJING ECO TECH DEVELOP 5.75 06/01/23 CNY 59.88
QUJING ECO TECH DEVELOP 5.75 06/01/23 CNY 59.75
QUJING ECO TECH DEVELOP 7.48 07/21/21 CNY 20.38
QUZHOU STATE OWNED ASSE 7.20 04/21/21 CNY 23.42
QUZHOU STATE OWNED ASSE 7.20 04/21/21 CNY 20.42
RENHUAI CITY DEVELOPMEN 5.12 04/14/23 CNY 59.04
RENHUAI CITY DEVELOPMEN 5.12 04/14/23 CNY 59.01
RENHUAI CITY DEVELOPMEN 8.09 05/16/21 CNY 20.49
RENHUAI CITY DEVELOPMEN 8.09 05/16/21 CNY 20.47
RENQIU CONSTRUCTION INV 5.68 11/18/22 CNY 60.64
RENQIU CONSTRUCTION INV 5.68 11/18/22 CNY 58.22
RENSHOU DEVELOPMENT OF 6.42 12/22/22 CNY 61.05
RENSHOU DEVELOPMENT OF 6.42 12/22/22 CNY 60.00
REWARD SCIENCE AND TECH 6.40 03/03/22 CNY 70.00
REWARD SCIENCE AND TECH 5.53 07/05/21 CNY 29.10
RIGHT WAY REAL ESTATE D 8.00 07/15/21 CNY 43.89
RIZHAO CITY CONSTRUCTIO 3.98 12/07/22 CNY 60.46
RIZHAO CITY CONSTRUCTIO 3.98 12/07/22 CNY 59.60
RUDONG COUNTY DONGTAI S 6.99 06/20/21 CNY 25.90
RUDONG COUNTY DONGTAI S 6.99 06/20/21 CNY 20.40
RUDONG COUNTY JINXIN TR 3.80 07/26/23 CNY 59.82
RUDONG COUNTY JINXIN TR 3.80 07/26/23 CNY 59.79
RUDONG COUNTY JINXIN TR 4.57 07/26/23 CNY 59.75
RUDONG COUNTY JINXIN TR 4.57 07/26/23 CNY 59.19
RUDONG COUNTY JINXIN TR 8.08 03/03/21 CNY 24.03
RUDONG COUNTY JINXIN TR 8.08 03/03/21 CNY 20.25
RUDONG COUNTY KAITAI CI 4.57 01/08/23 CNY 60.31
RUDONG NEW WORLD INVEST 4.37 07/18/23 CNY 59.49
RUDONG NEW WORLD INVEST 4.37 07/18/23 CNY 58.46
RUGAO COMMUNICATIONS CO 3.74 03/23/23 CNY 59.94
RUGAO COMMUNICATIONS CO 3.74 03/23/23 CNY 59.80
RUGAO ECONOMIC & TRADE 3.95 03/24/23 CNY 60.07
RUGAO ECONOMIC & TRADE 3.95 03/24/23 CNY 59.97
RUGAO ECONOMIC & TRADE 8.30 01/22/21 CNY 29.00
RUGAO ECONOMIC & TRADE 8.30 01/22/21 CNY 20.24
RUGAO YANJIANG DEVELOPM 8.60 01/24/21 CNY 20.93
RUGAO YANJIANG DEVELOPM 8.60 01/24/21 CNY 20.25
RUIAN STATE OWNED ASSET 4.56 01/27/23 CNY 60.66
RUIAN STATE OWNED ASSET 4.56 01/27/23 CNY 58.96
RUICHANG CITY INVESTMEN 5.50 06/17/23 CNY 61.17
RUICHANG CITY INVESTMEN 5.50 06/17/23 CNY 61.16
RUICHANG CITY INVESTMEN 5.68 03/25/23 CNY 61.15
RUICHANG CITY INVESTMEN 5.68 03/25/23 CNY 61.14
RUIJIN URBAN DEVELOPMEN 4.13 09/06/23 CNY 58.77
RUIJIN URBAN DEVELOPMEN 4.13 09/06/23 CNY 58.68
RUZHOU CITY XINYUAN INV 4.43 09/26/23 CNY 56.27
RUZHOU CITY XINYUAN INV 4.43 09/26/23 CNY 55.96
RUZHOU CITY XINYUAN INV 6.30 09/16/21 CNY 25.34
SANMEN COUNTY STATE-OWN 6.80 03/18/22 CNY 40.96
SANMEN COUNTY STATE-OWN 6.85 10/29/21 CNY 40.62
SANMEN COUNTY STATE-OWN 6.80 03/18/22 CNY 40.00
SANMEN COUNTY STATE-OWN 6.85 10/29/21 CNY 40.00
SANMING TRANSPORTATION 3.68 03/29/23 CNY 59.76
SANMING TRANSPORTATION 3.68 03/29/23 CNY 59.51
SHAANXI ANKANG HIGH TEC 8.78 09/17/21 CNY 27.00
SHAANXI ANKANG HIGH TEC 8.78 09/17/21 CNY 20.64
SHAANXI XIXIAN NEW AREA 6.85 08/15/21 CNY 25.50
SHAANXI XIXIAN NEW AREA 6.85 08/15/21 CNY 20.47
SHAANXI XIXIAN NEW AREA 6.89 01/05/22 CNY 43.10
SHAANXI XIXIAN NEW AREA 6.89 01/05/22 CNY 40.57
SHAANXI XIXIAN NEW AREA 5.15 11/27/22 CNY 61.01
SHAANXI XIXIAN NEW AREA 5.15 11/27/22 CNY 60.63
SHANDONG BORUN INDUSTRI 6.50 11/02/21 CNY 66.21
SHANDONG BOXING COUNTY 8.00 12/22/21 CNY 41.95
SHANDONG BOXING COUNTY 8.00 12/22/21 CNY 40.93
SHANDONG CENTURY SUNSHI 8.19 07/21/21 CNY 20.63
SHANDONG CENTURY SUNSHI 8.19 07/21/21 CNY 20.62
SHANDONG FUYU CHEMICAL 7.70 09/18/22 CNY 70.00
SHANDONG GAOCHUANG CONS 6.05 06/18/22 CNY 42.45
SHANDONG GAOCHUANG CONS 6.05 06/18/22 CNY 40.75
SHANDONG HONGHE HOLDING 8.50 06/23/21 CNY 24.00
SHANDONG HONGHE HOLDING 8.50 06/23/21 CNY 20.10
SHANDONG JINMAO TEXTILE 8.00 09/25/20 CNY 35.84
SHANDONG JINMAO TEXTILE 6.97 04/01/21 CNY 20.70
SHANDONG RENCHENG RONGX 7.30 10/18/20 CNY 23.40
SHANDONG RENCHENG RONGX 7.30 10/18/20 CNY 20.01
SHANDONG RUYI TECHNOLOG 7.90 09/18/23 CNY 52.10
SHANDONG SNTON GROUP CO 6.20 05/30/21 CNY 9.50
SHANDONG SNTON GROUP CO 5.18 09/08/21 CNY 8.52
SHANDONG TAIYANG INDUST 5.97 03/02/21 CNY 42.86
SHANDONG TENGJIAN INVES 6.00 06/08/22 CNY 40.45
SHANDONG TENGJIAN INVES 6.00 06/08/22 CNY 40.00
SHANDONG WANTONG PETROL 7.97 11/29/21 CNY 6.45
SHANGHAI CAOHEJING HI-T 7.24 04/09/21 CNY 20.32
SHANGHAI CAOHEJING HI-T 7.24 04/09/21 CNY 20.31
SHANGHAI JIADING ROAD C 6.80 04/23/21 CNY 20.75
SHANGHAI JIADING ROAD C 6.80 04/23/21 CNY 20.33
SHANGHAI LAKE DIANSHAN 5.95 01/30/21 CNY 25.13
SHANGHAI LAKE DIANSHAN 5.95 01/30/21 CNY 25.10
SHANGHAI MINHANG URBAN 5.63 04/20/22 CNY 40.79
SHANGHAI MINHANG URBAN 5.63 04/20/22 CNY 40.78
SHANGHAI MUNICIPAL INVE 4.80 11/05/24 CNY 71.38
SHANGHAI NANHUI URBAN C 6.04 08/20/21 CNY 20.44
SHANGHAI NANHUI URBAN C 6.04 08/20/21 CNY 20.30
SHANGHAI PUTAILAI NEW E 5.50 03/19/21 CNY 66.67
SHANGHAI URBAN CONSTRUC 3.50 01/06/23 CNY 61.07
SHANGHAI URBAN CONSTRUC 3.50 01/06/23 CNY 59.50
SHANGRAO CITY STATE-OWN 4.65 01/29/23 CNY 60.58
SHANGRAO CITY STATE-OWN 4.65 01/29/23 CNY 60.28
SHANTOU CITY CONSTRUCTI 8.57 03/23/22 CNY 31.42
SHANTOU CITY CONSTRUCTI 8.57 03/23/22 CNY 31.40
SHANTOU INVESTMENT HOLD 7.99 03/04/24 CNY 64.40
SHANTOU INVESTMENT HOLD 7.99 03/04/24 CNY 64.10
SHANXI INTERNATIONAL EL 5.88 05/24/22 CNY 61.00
SHANXI XIANG KUANG GROU 8.80 02/11/22 CNY 72.44
SHANXI XIANG KUANG GROU 8.80 02/11/22 CNY 54.50
SHAOWU URBAN CONSTRUCTI 5.88 09/11/22 CNY 43.39
SHAOWU URBAN CONSTRUCTI 5.88 09/11/22 CNY 40.15
SHAOXING CHENGZHONGCUN 6.09 04/27/22 CNY 40.83
SHAOXING CHENGZHONGCUN 6.09 04/27/22 CNY 40.30
SHAOXING CITY INVESTMEN 5.75 04/17/22 CNY 48.00
SHAOXING CITY INVESTMEN 5.75 04/17/22 CNY 40.88
SHAOXING CITY KEQIAO DI 6.40 08/20/21 CNY 20.48
SHAOXING CITY KEQIAO DI 6.40 08/20/21 CNY 20.35
SHAOXING JINGHU NEW DIS 6.13 04/30/22 CNY 40.76
SHAOXING JINGHU NEW DIS 6.13 04/30/22 CNY 40.70
SHAOXING KEQIAO CITY CO 3.64 09/19/23 CNY 59.28
SHAOXING KEQIAO CITY CO 3.64 09/19/23 CNY 58.86
SHAOXING KEQIAO ECONOMI 7.00 12/10/21 CNY 40.89
SHAOXING KEQIAO ECONOMI 7.00 12/10/21 CNY 40.00
SHAOXING KEYAN CONSTRUC 6.28 03/24/22 CNY 40.84
SHAOXING KEYAN CONSTRUC 6.28 03/24/22 CNY 40.00
SHAOXING PAOJIANG INDUS 6.98 05/29/21 CNY 23.90
SHAOXING PAOJIANG INDUS 6.98 05/29/21 CNY 20.37
SHAOXING SHANGYU ECONOM 4.76 04/11/23 CNY 60.93
SHAOXING SHANGYU ECONOM 4.76 04/11/23 CNY 60.27
SHAOXING SHANGYU HANGZH 6.95 10/11/20 CNY 20.55
SHAOXING SHANGYU HANGZH 6.95 10/11/20 CNY 20.00
SHAOXING SHANGYU URBAN 6.80 08/07/21 CNY 21.15
SHAOXING SHANGYU URBAN 6.80 08/07/21 CNY 20.56
SHAOYANG CITY CONSTRUCT 8.58 01/17/21 CNY 20.30
SHAOYANG CITY CONSTRUCT 8.58 01/17/21 CNY 20.17
SHAOYANG DULIANG INVEST 5.50 04/13/23 CNY 59.65
SHAOYANG DULIANG INVEST 5.50 04/13/23 CNY 58.65
SHENGZHOU INVESTMENT HO 7.60 07/17/21 CNY 20.60
SHENGZHOU INVESTMENT HO 7.60 07/17/21 CNY 20.59
SHENMU CITY STATE-OWNED 7.28 06/23/21 CNY 20.60
SHENMU CITY STATE-OWNED 7.28 06/23/21 CNY 20.36
SHENYANG DADONG STATE-O 6.05 03/20/22 CNY 40.55
SHENYANG DADONG STATE-O 6.05 03/20/22 CNY 40.00
SHENYANG ECONOMIC AFFOR 7.17 04/29/22 CNY 40.05
SHENYANG ECONOMIC AFFOR 7.17 04/29/22 CNY 31.87
SHENYANG TIEXI STATE-OW 6.00 01/14/22 CNY 47.50
SHENYANG TIEXI STATE-OW 6.00 01/14/22 CNY 40.47
SHENZHEN METRO GROUP CO 6.75 01/24/24 CNY 63.07
SHENZHEN METRO GROUP CO 5.40 03/25/23 CNY 46.15
SHENZHEN METRO GROUP CO 5.40 03/25/23 CNY 46.03
SHIJIAZHUANG HUTUO NEW 5.28 12/24/25 CNY 62.70
SHIJIAZHUANG HUTUO NEW 5.28 12/24/25 CNY 62.50
SHIJIAZHUANG STATE-OWNE 5.75 04/09/22 CNY 47.20
SHIJIAZHUANG STATE-OWNE 5.75 04/09/22 CNY 40.78
SHIJIAZHUANG URBAN CONS 6.55 03/09/21 CNY 40.51
SHISHI CITY CONSTRUCTIO 6.10 05/04/22 CNY 40.87
SHIYAN ECO DEVELOPMENT 3.98 08/05/23 CNY 59.57
SHIYAN ECO DEVELOPMENT 3.98 08/05/23 CNY 59.03
SHIYAN STATE-OWNED CAPI 6.88 10/11/20 CNY 20.68
SHIYAN STATE-OWNED CAPI 6.58 08/20/21 CNY 20.50
SHIYAN STATE-OWNED CAPI 6.58 08/20/21 CNY 20.00
SHIYAN STATE-OWNED CAPI 6.88 10/11/20 CNY 19.99
SHOUGUANG CITY CONSTRUC 7.10 10/18/20 CNY 22.87
SHOUGUANG CITY CONSTRUC 7.10 10/18/20 CNY 20.01
SHUCHENG COUNTY URBAN C 5.50 04/29/23 CNY 61.11
SHUCHENG COUNTY URBAN C 5.50 04/29/23 CNY 61.10
SHUYANG JINGYUAN ASSET 5.49 09/11/22 CNY 46.00
SHUYANG JINGYUAN ASSET 5.49 09/11/22 CNY 40.54
SHUYANG JINGYUAN ASSET 7.39 04/14/21 CNY 20.33
SHUYANG JINGYUAN ASSET 7.39 04/14/21 CNY 20.00
SICHUAN COAL GASIFICATI 7.00 04/18/23 CNY 60.49
SICHUAN COAL INDUSTRY G 7.70 01/09/18 CNY 45.00
SICHUAN LANGZHONG FAMOU 5.60 04/19/23 CNY 59.75
SICHUAN LANGZHONG FAMOU 5.60 04/19/23 CNY 59.56
SICHUAN LONGYANG TIANFU 5.45 05/27/23 CNY 60.31
SICHUAN LONGYANG TIANFU 5.45 05/27/23 CNY 60.16
SICHUAN NAXING INDUSTRI 4.68 03/31/23 CNY 59.00
SICHUAN NAXING INDUSTRI 4.68 03/31/23 CNY 58.79
SICHUAN NAXING INDUSTRI 6.80 08/18/22 CNY 50.67
SICHUAN NAXING INDUSTRI 6.80 08/18/22 CNY 50.66
SICHUAN NAXING INDUSTRI 7.17 09/11/21 CNY 20.44
SICHUAN NAXING INDUSTRI 7.17 09/11/21 CNY 20.32
SICHUAN TIANYIN INDUSTR 6.79 03/25/22 CNY 48.00
SICHUAN TIANYIN INDUSTR 6.79 03/25/22 CNY 40.64
SIHONG COUNTY HONG YUAN 6.15 03/16/22 CNY 40.59
SIHONG COUNTY HONG YUAN 6.15 03/16/22 CNY 40.00
SIHUI STATE OWNED ASSET 4.59 01/14/23 CNY 59.58
SIHUI STATE OWNED ASSET 4.59 01/14/23 CNY 59.11
SIYANG COUNTY MINKANG R 4.94 01/21/23 CNY 60.56
SIYANG COUNTY MINKANG R 4.94 01/21/23 CNY 60.01
SLENDER WEST LAKE TOURI 6.80 06/25/21 CNY 20.47
SLENDER WEST LAKE TOURI 6.80 06/25/21 CNY 20.00
SONGYUAN URBAN DEVELOPM 5.79 12/04/21 CNY 40.78
SONGYUAN URBAN DEVELOPM 5.79 12/04/21 CNY 39.98
SUINING CITY HEDONG DEV 8.36 04/17/21 CNY 27.82
SUINING CITY HEDONG DEV 8.36 04/17/21 CNY 20.39
SUINING COUNTY RUNQI IN 5.42 11/20/22 CNY 60.49
SUINING COUNTY RUNQI IN 5.42 11/20/22 CNY 60.00
SUINING COUNTY RUNQI IN 7.10 06/25/21 CNY 20.42
SUINING COUNTY RUNQI IN 7.10 06/25/21 CNY 20.30
SUINING FUYUAN INDUSTRY 6.39 03/17/22 CNY 44.18
SUINING FUYUAN INDUSTRY 6.39 03/17/22 CNY 40.82
SUINING KAIDA INVESTMEN 4.89 04/08/23 CNY 59.14
SUINING KAIDA INVESTMEN 4.89 04/08/23 CNY 58.64
SUINING KAIDA INVESTMEN 8.69 04/21/21 CNY 20.34
SUINING KAIDA INVESTMEN 8.69 04/21/21 CNY 20.00
SUIZHOU DEVELOPMENT INV 8.50 12/20/20 CNY 21.83
SUIZHOU DEVELOPMENT INV 8.40 04/30/21 CNY 20.71
SUIZHOU DEVELOPMENT INV 8.40 04/30/21 CNY 20.45
SUIZHOU DEVELOPMENT INV 8.50 12/20/20 CNY 20.17
SUIZHOU HIGH-TECH INDUS 4.47 03/25/23 CNY 58.84
SUIZHOU HIGH-TECH INDUS 4.47 03/25/23 CNY 58.81
SUIZHOU URBAN CONSTRUCT 7.18 09/02/21 CNY 21.20
SUIZHOU URBAN CONSTRUCT 7.18 09/02/21 CNY 20.58
SUIZHOU YULONG WATER SU 6.10 03/28/23 CNY 59.77
SUQIAN CITY CONSTRUCTIO 6.88 10/29/20 CNY 20.26
SUQIAN CITY CONSTRUCTIO 6.88 10/29/20 CNY 20.03
SUZHOU CITY CONSTRUCTIO 3.89 03/24/23 CNY 60.08
SUZHOU CITY CONSTRUCTIO 3.89 03/24/23 CNY 60.07
SUZHOU CITY HENGCHENG C 4.40 03/01/23 CNY 61.37
SUZHOU CITY HENGCHENG C 4.40 03/01/23 CNY 60.23
SUZHOU FENHU INVESTMENT 7.49 02/28/21 CNY 20.20
SUZHOU FENHU INVESTMENT 7.49 02/28/21 CNY 20.19
SUZHOU NEW & HIGH-TECH 4.18 03/23/23 CNY 59.55
SUZHOU NEW & HIGH-TECH 4.18 03/23/23 CNY 58.82
SUZHOU NEW DISTRICT ECO 6.20 07/22/21 CNY 20.45
SUZHOU NEW DISTRICT ECO 6.20 07/22/21 CNY 20.35
SUZHOU WUJIANG COMMUNIC 6.80 10/31/20 CNY 25.53
SUZHOU WUJIANG COMMUNIC 6.80 10/31/20 CNY 25.04
SUZHOU WUJIANG DISTRICT 5.25 07/08/22 CNY 40.58
SUZHOU XIANGCHENG URBAN 6.95 03/19/21 CNY 22.60
SUZHOU XIANGCHENG URBAN 6.95 03/19/21 CNY 20.35
TAIAN TAISHAN HOLDINGS 5.50 04/26/23 CNY 60.68
TAIAN TAISHAN HOLDINGS 5.50 04/26/23 CNY 59.63
TAICANG ASSETS MANAGEME 7.00 02/27/21 CNY 20.20
TAICANG ASSETS MANAGEME 7.00 02/27/21 CNY 20.20
TAICANG SCIENCE EDUCATI 5.54 08/28/22 CNY 44.65
TAICANG SCIENCE EDUCATI 5.54 08/28/22 CNY 40.91
TAIXING CITY CHENGXING 8.30 12/12/20 CNY 20.10
TAIXING CITY CHENGXING 8.30 12/12/20 CNY 19.85
TAIXING CITY HONGQIAO Y 5.03 10/29/22 CNY 63.87
TAIXING CITY HONGQIAO Y 5.03 10/29/22 CNY 59.90
TAIYUAN ECONOMIC TECHNO 7.43 04/24/21 CNY 20.28
TAIYUAN HIGH-SPEED RAIL 6.50 10/30/20 CNY 25.04
TAIYUAN STATE-OWNED INV 7.20 03/19/21 CNY 26.50
TAIYUAN STATE-OWNED INV 7.20 03/19/21 CNY 20.24
TAIZHOU CITY CONSTRUCTI 6.92 10/16/23 CNY 62.68
TAIZHOU CITY CONSTRUCTI 6.92 10/16/23 CNY 62.10
TAIZHOU HAILING CITY DE 4.60 12/14/22 CNY 60.13
TAIZHOU JIAOJIANG STATE 6.18 07/06/22 CNY 44.00
TAIZHOU JIAOJIANG STATE 6.18 07/06/22 CNY 41.19
TAIZHOU JINDONG URBAN C 5.10 06/02/23 CNY 60.26
TAIZHOU JINDONG URBAN C 5.10 06/02/23 CNY 60.10
TAIZHOU XINBINJIANG DEV 7.60 03/05/21 CNY 21.00
TAIZHOU XINBINJIANG DEV 7.60 03/05/21 CNY 20.27
TAIZHOU XINTAI GROUP CO 4.07 03/23/23 CNY 60.26
TAIZHOU XINTAI GROUP CO 4.07 03/23/23 CNY 59.95
TANGSHAN CAOFEIDIAN DEV 7.50 10/15/20 CNY 20.03
TIANJIN BAOXING INDUSTR 7.10 10/17/20 CNY 19.99
TIANJIN BEICHEN DISTRIC 7.00 04/21/21 CNY 27.15
TIANJIN BEICHEN DISTRIC 7.00 04/21/21 CNY 20.23
TIANJIN BEICHEN TECHNOL 6.87 08/20/21 CNY 27.00
TIANJIN BEICHEN TECHNOL 6.87 08/20/21 CNY 20.06
TIANJIN BINHAI NEW AREA 6.10 11/23/21 CNY 42.65
TIANJIN BOHAI STATE-OWN 3.82 04/18/23 CNY 59.69
TIANJIN BOHAI STATE-OWN 3.82 04/18/23 CNY 59.64
TIANJIN DONGFANG CAIXIN 5.19 01/29/22 CNY 40.17
TIANJIN DONGFANG CAIXIN 5.19 01/29/22 CNY 39.59
TIANJIN DONGLI CITY INF 4.28 12/02/22 CNY 59.62
TIANJIN ECONOMIC TECHNO 6.50 12/03/22 CNY 46.30
TIANJIN ECONOMIC TECHNO 6.50 12/03/22 CNY 45.54
TIANJIN GUANGCHENG INVE 5.40 04/20/23 CNY 59.28
TIANJIN GUANGCHENG INVE 5.40 04/20/23 CNY 58.01
TIANJIN GUANGCHENG INVE 6.97 02/22/23 CNY 44.67
TIANJIN GUANGCHENG INVE 6.97 02/22/23 CNY 40.01
TIANJIN GUANGCHENG INVE 7.45 07/24/21 CNY 29.00
TIANJIN GUANGCHENG INVE 7.45 07/24/21 CNY 20.02
TIANJIN HARBOR CONSTRUC 6.29 10/21/21 CNY 70.11
TIANJIN HARBOR CONSTRUC 8.00 04/01/21 CNY 40.55
TIANJIN HARBOR CONSTRUC 8.80 01/24/21 CNY 40.46
TIANJIN HI-TECH INDUSTR 6.65 09/12/21 CNY 20.30
TIANJIN HI-TECH INDUSTR 6.65 09/12/21 CNY 19.99
TIANJIN HUANCHENG URBAN 5.75 04/27/22 CNY 41.70
TIANJIN HUANCHENG URBAN 5.75 04/27/22 CNY 40.61
TIANJIN HUANCHENG URBAN 7.20 03/21/21 CNY 20.35
TIANJIN HUANCHENG URBAN 7.20 03/21/21 CNY 20.20
TIANJIN INFRASTRUCTURE 5.70 02/26/23 CNY 46.00
TIANJIN INFRASTRUCTURE 5.70 02/26/23 CNY 45.81
TIANJIN JINNAN CITY CON 6.50 06/03/21 CNY 20.29
TIANJIN JINNAN CITY CON 6.50 06/03/21 CNY 20.00
TIANJIN LINGANG INVESTM 7.75 02/26/21 CNY 20.21
TIANJIN LINGANG INVESTM 7.75 02/26/21 CNY 20.11
TIANJIN NINGHE DISTRICT 7.00 05/30/21 CNY 27.50
TIANJIN NINGHE DISTRICT 7.00 05/30/21 CNY 20.21
TIANJIN NINGHE INVESTME 5.50 04/22/23 CNY 60.60
TIANJIN NINGHE INVESTME 5.50 04/22/23 CNY 60.15
TIANJIN RAILWAY CONSTRU 5.58 04/13/25 CNY 72.49
TIANJIN REAL ESTATE TRU 8.59 03/13/21 CNY 19.50
TIANJIN RESIDENTIAL CON 8.00 12/19/20 CNY 20.03
TIANJIN STATE-OWNED CAP 1.60 12/17/39 USD 74.35
TIANJIN WATER INVESTMEN 8.40 01/15/21 CNY 25.04
TIANJIN WATER INVESTMEN 6.60 07/28/21 CNY 21.80
TIANJIN WATER INVESTMEN 6.60 07/28/21 CNY 19.33
TIANJIN WUQING STATE-OW 4.15 11/17/22 CNY 60.04
TIANJIN WUQING STATE-OW 4.15 11/17/22 CNY 59.90
TIANJIN WUQING STATE-OW 8.00 12/17/20 CNY 20.76
TIANJIN WUQING STATE-OW 7.18 03/19/21 CNY 20.42
TIANJIN WUQING STATE-OW 7.18 03/19/21 CNY 20.19
TIANJIN WUQING STATE-OW 8.00 12/17/20 CNY 20.16
TIANMEN CITY CONSTRUCTI 8.20 08/28/21 CNY 25.16
TIANMEN CITY CONSTRUCTI 8.20 08/28/21 CNY 20.77
TONGLING CONSTRUCTION I 4.12 03/14/23 CNY 60.00
TONGLING CONSTRUCTION I 4.12 03/14/23 CNY 59.88
TONGLU STATE-OWNED ASSE 8.09 04/18/21 CNY 20.98
TONGLU STATE-OWNED ASSE 8.09 04/18/21 CNY 20.42
TSINGHUA UNIGROUP CO LT 5.85 03/27/22 CNY 64.81
TSINGHUA UNIGROUP CO LT 5.20 12/10/23 CNY 59.90
TULUFAN DISTRICT STATE- 6.20 03/19/22 CNY 41.38
TULUFAN DISTRICT STATE- 6.20 03/19/22 CNY 40.68
TUNGHSU GROUP CO LTD 6.55 03/13/22 CNY 45.00
ULANQAB CITY INVESTMENT 8.39 04/25/22 CNY 51.26
ULANQAB JINING DISTRICT 6.16 03/24/23 CNY 59.77
ULANQAB JINING DISTRICT 6.16 03/24/23 CNY 59.13
URUMQI ECO&TECH DEVELOP 6.40 04/13/22 CNY 40.92
URUMQI ECO&TECH DEVELOP 6.40 04/13/22 CNY 40.00
WAFANGDIAN COASTAL PROJ 3.98 02/01/23 CNY 58.84
WAFANGDIAN COASTAL PROJ 3.98 02/01/23 CNY 58.28
WANGCHENG ECONOMIC DEVE 3.75 07/13/23 CNY 61.05
WANGCHENG ECONOMIC DEVE 3.75 07/13/23 CNY 61.02
WANGCHENG ECONOMIC DEVE 6.57 01/22/22 CNY 48.81
WANGCHENG ECONOMIC DEVE 6.57 01/22/22 CNY 40.81
WEICHI HOLDING GROUP CO 5.40 12/21/20 CNY 60.00
WEIFANG BINHAI INVESTME 6.16 04/16/21 CNY 25.22
WEIHAI LANCHUANG CONSTR 4.80 12/17/22 CNY 59.59
WEIHAI LANCHUANG CONSTR 4.80 12/17/22 CNY 59.39
WEIHAI URBAN CONSTRUCTI 3.33 03/02/23 CNY 59.44
WEIHAI URBAN CONSTRUCTI 3.33 03/02/23 CNY 58.40
WEIHAI WENDENG URBAN PR 4.80 05/26/23 CNY 59.33
WEIHAI WENDENG URBAN PR 4.80 05/26/23 CNY 58.97
WEINAN CITY INVESTMENT 6.09 03/11/22 CNY 40.67
WEINAN CITY INVESTMENT 6.09 03/11/22 CNY 40.00
WENDENG GOLDEN BEACH IN 3.97 03/21/23 CNY 59.27
WENDENG GOLDEN BEACH IN 3.97 03/21/23 CNY 59.20
WENSHAN URBAN CONSTRUCT 4.50 09/13/23 CNY 58.80
WENSHAN URBAN CONSTRUCT 4.50 09/13/23 CNY 58.54
WENZHOU CITY CONSTRUCTI 5.00 04/26/23 CNY 61.07
WENZHOU CITY CONSTRUCTI 5.00 04/26/23 CNY 60.99
WENZHOU CITY CONSTRUCTI 4.05 01/25/23 CNY 59.78
WENZHOU CITY CONSTRUCTI 4.05 01/25/23 CNY 59.57
WENZHOU GANGCHENG DEVEL 5.19 03/29/23 CNY 61.87
WENZHOU GANGCHENG DEVEL 5.19 03/29/23 CNY 60.91
WENZHOU HIGH-TECH INDUS 7.30 05/30/21 CNY 20.60
WENZHOU HIGH-TECH INDUS 7.95 03/21/21 CNY 20.46
WENZHOU HIGH-TECH INDUS 7.95 03/21/21 CNY 20.38
WENZHOU HIGH-TECH INDUS 7.30 05/30/21 CNY 20.35
WENZHOU LUCHENG CITY DE 5.58 11/03/21 CNY 40.31
WENZHOU LUCHENG CITY DE 5.58 11/03/21 CNY 40.20
WINTIME ENERGY CO LTD 7.50 04/04/21 CNY 43.63
WINTIME ENERGY CO LTD 7.90 03/29/21 CNY 43.63
WINTIME ENERGY CO LTD 7.90 12/22/20 CNY 43.63
WINTIME ENERGY CO LTD 7.50 12/06/20 CNY 43.63
WINTIME ENERGY CO LTD 7.50 11/16/20 CNY 43.63
WINTIME ENERGY CO LTD 7.70 11/15/20 CNY 43.63
WINTIME ENERGY CO LTD 7.00 04/26/19 CNY 43.63
WINTIME ENERGY CO LTD 7.00 03/19/19 CNY 43.63
WINTIME ENERGY CO LTD 7.00 12/15/18 CNY 43.63
WINTIME ENERGY CO LTD 6.78 10/23/18 CNY 43.63
WINTIME ENERGY CO LTD 7.00 08/25/18 CNY 43.63
WINTIME ENERGY CO LTD 7.30 08/06/18 CNY 43.63
WINTIME ENERGY CO LTD 7.00 07/05/18 CNY 43.63
WUHAI CITY CONSTRUCTION 8.19 04/21/21 CNY 20.32
WUHAI CITY CONSTRUCTION 8.19 04/21/21 CNY 5.42
WUHAN CHEDU CORP LTD 7.18 02/27/21 CNY 20.96
WUHAN CHEDU CORP LTD 7.18 02/27/21 CNY 20.21
WUHAN CITY HUANPI DISTR 6.43 09/17/21 CNY 23.02
WUHAN CITY HUANPI DISTR 6.43 09/17/21 CNY 20.46
WUHAN JIANGXIA URBAN CO 4.80 06/03/23 CNY 60.69
WUHAN JIANGXIA URBAN CO 4.80 06/03/23 CNY 60.50
WUHAN JIANGXIA URBAN CO 8.99 01/20/21 CNY 20.24
WUHAN METRO GROUP CO LT 5.25 04/14/22 CNY 40.36
WUHAN QIAOKOU STATE OWN 3.48 08/29/23 CNY 59.17
WUHAN QIAOKOU STATE OWN 3.48 08/29/23 CNY 58.93
WUHU COMMUNICATIONS INV 4.50 04/28/23 CNY 59.79
WUHU COMMUNICATIONS INV 4.50 04/28/23 CNY 59.76
WUHU COMMUNICATIONS INV 3.58 09/23/23 CNY 58.83
WUHU COMMUNICATIONS INV 3.58 09/23/23 CNY 58.60
WUHU COUNTY CONSTRUCTIO 6.60 12/08/21 CNY 46.35
WUHU COUNTY CONSTRUCTIO 6.60 12/08/21 CNY 40.72
WUHU JINGHU CONSTRUCTIO 4.37 07/20/23 CNY 59.64
WUHU JINGHU CONSTRUCTIO 4.37 07/20/23 CNY 59.63
WUHU JIUJIANG CONSTRUCT 3.96 03/21/23 CNY 59.55
WUHU JIUJIANG CONSTRUCT 8.49 04/14/21 CNY 20.48
WUHU JIUJIANG CONSTRUCT 8.49 04/14/21 CNY 20.00
WUHU XINMA INVESTMENT C 4.87 11/04/22 CNY 60.36
WUHU XINMA INVESTMENT C 4.87 11/04/22 CNY 59.80
WUHU YIJU INVESTMENT GR 6.45 08/11/21 CNY 21.45
WUHU YIJU INVESTMENT GR 6.45 08/11/21 CNY 20.48
WUWEI CITY ECONOMY DEVE 8.20 12/09/20 CNY 20.40
WUWEI CITY ECONOMY DEVE 8.20 04/24/21 CNY 20.26
WUWEI CITY ECONOMY DEVE 8.20 04/24/21 CNY 20.10
WUWEI CITY ECONOMY DEVE 8.20 12/09/20 CNY 20.08
WUXI HUIKAI ECONOMIC DE 4.16 04/08/23 CNY 60.01
WUXI HUIKAI ECONOMIC DE 4.16 04/08/23 CNY 59.83
WUXI HUNING METRO HUISH 4.38 06/08/21 CNY 40.45
WUXI HUNING METRO HUISH 4.38 06/08/21 CNY 40.08
WUXI MUNICIPAL DEVELOPM 6.10 10/11/20 CNY 20.00
WUXI TAIHU NEW CITY DEV 4.49 05/03/23 CNY 60.70
WUXI TAIHU NEW CITY DEV 4.49 05/03/23 CNY 60.63
WUXI TAIHU NEW CITY DEV 3.47 08/29/23 CNY 59.50
WUXI TAIHU NEW CITY DEV 3.47 08/29/23 CNY 59.27
WUYANG CONSTRUCTION GRO 7.80 09/11/20 CNY 32.48
WUZHONG URBAN RURAL CON 7.18 10/12/20 CNY 20.01
WUZHONG URBAN RURAL CON 7.18 10/12/20 CNY 20.00
XIAMEN TORCH GROUP CO L 7.49 04/21/21 CNY 24.88
XIAMEN TORCH GROUP CO L 7.49 04/21/21 CNY 20.33
XIAN FENGDONG DEVELOPME 4.67 01/08/23 CNY 59.94
XIAN FENGDONG DEVELOPME 4.67 01/08/23 CNY 59.71
XI'AN INTERNATIONAL HOR 6.20 10/21/21 CNY 41.46
XI'AN INTERNATIONAL HOR 6.20 10/21/21 CNY 40.46
XI'AN INTERNATIONAL INL 7.90 09/23/21 CNY 22.28
XIANGSHUI GUANJIANG HOL 4.98 12/24/22 CNY 63.20
XIANGSHUI GUANJIANG HOL 4.98 12/24/22 CNY 60.52
XIANGTAN CITY CONSTRUCT 7.60 04/02/22 CNY 62.66
XIANGTAN CITY CONSTRUCT 7.80 01/30/22 CNY 62.42
XIANGTAN CITY CONSTRUCT 7.80 03/12/22 CNY 62.00
XIANGTAN CITY'S CONSTRU 3.60 08/04/23 CNY 58.87
XIANGTAN CITY'S CONSTRU 3.95 08/04/23 CNY 57.44
XIANGTAN CITY'S CONSTRU 3.95 08/04/23 CNY 56.78
XIANGTAN HI-TECH GROUP 8.16 02/25/21 CNY 28.99
XIANGTAN HI-TECH GROUP 8.16 02/25/21 CNY 20.12
XIANGTAN JIUHUA ECONOMI 5.00 07/25/26 CNY 62.63
XIANGTAN JIUHUA ECONOMI 6.59 01/21/22 CNY 39.12
XIANGTAN JIUHUA ECONOMI 7.15 10/15/20 CNY 19.99
XIANGTAN JIUHUA ECONOMI 7.15 10/15/20 CNY 19.95
XIANGTAN LIANGXING SOCI 7.89 04/23/21 CNY 20.16
XIANGTAN LIANGXING SOCI 7.89 04/23/21 CNY 20.10
XIANGTAN WANLOU XINCHEN 6.90 01/14/22 CNY 39.90
XIANGTAN WANLOU XINCHEN 6.90 01/14/22 CNY 35.49
XIANGXIANG ECONOMIC DIS 5.28 09/09/23 CNY 57.72
XIANGXIANG ECONOMIC DIS 5.28 09/09/23 CNY 57.30
XIANGXIANG URBAN CONSTR 5.84 05/18/23 CNY 60.61
XIANGXIANG URBAN CONSTR 5.84 05/18/23 CNY 59.72
XIANGYANG CITY XIANGZHO 5.18 04/28/23 CNY 60.77
XIANGYANG CITY XIANGZHO 5.18 04/28/23 CNY 60.65
XIANGYANG HIGH TECH STA 7.00 05/29/21 CNY 23.38
XIANGYANG HIGH TECH STA 7.00 05/29/21 CNY 20.35
XIANGYANG STATE-OWNED C 4.62 01/25/23 CNY 59.79
XIANGYANG STATE-OWNED C 4.62 01/25/23 CNY 59.78
XIANNING HIGH-TECH INVE 6.29 02/10/22 CNY 40.71
XIANNING HIGH-TECH INVE 6.29 02/10/22 CNY 40.56
XIANTAO CITY CONSTRUCTI 4.59 04/18/23 CNY 60.29
XIANTAO CITY CONSTRUCTI 4.59 04/18/23 CNY 59.73
XIANTAO CITY CONSTRUCTI 8.15 02/24/21 CNY 20.38
XIAOGAN GAOCHUANG INVES 7.43 06/23/21 CNY 32.72
XIAOGAN GAOCHUANG INVES 6.87 09/22/21 CNY 26.69
XIAOGAN GAOCHUANG INVES 6.87 09/22/21 CNY 20.22
XIAOGAN GAOCHUANG INVES 7.43 06/23/21 CNY 20.18
XIAOGAN URBAN CONSTRUCT 3.94 07/05/21 CNY 62.99
XIAOGAN URBAN CONSTRUCT 6.89 05/29/21 CNY 20.40
XIAOGAN URBAN CONSTRUCT 6.89 05/29/21 CNY 20.38
XIAOXIAN COUNTY DEVELOP 4.85 06/22/23 CNY 60.63
XIAOXIAN COUNTY DEVELOP 4.85 06/22/23 CNY 60.45
XINDONGGANG HOLDING GRO 5.53 04/27/23 CNY 60.54
XINDONGGANG HOLDING GRO 5.53 04/27/23 CNY 60.16
XINGAN COUNTY URBAN CON 5.48 08/03/23 CNY 57.92
XINGAN COUNTY URBAN CON 5.48 08/03/23 CNY 57.88
XINGAN LEAGUE URBAN DEV 6.18 12/21/22 CNY 42.59
XINGAN LEAGUE URBAN DEV 6.18 12/21/22 CNY 42.05
XINGHUA CITY ECONOMIC D 5.28 06/13/22 CNY 49.89
XINGHUA CITY ECONOMIC D 5.28 06/13/22 CNY 49.63
XINGYI XINHENG URBAN CO 5.40 12/16/22 CNY 60.00
XINGYI XINHENG URBAN CO 5.40 12/16/22 CNY 58.63
XINJIANG KAIDI INVESTME 7.80 04/22/21 CNY 21.35
XINJIANG KAIDI INVESTME 7.80 04/22/21 CNY 20.16
XINMI CAIYUAN CITY CONS 4.35 02/28/23 CNY 60.76
XINMI CAIYUAN CITY CONS 4.35 02/28/23 CNY 60.07
XINMIN CITY LUXIN MUNIC 6.41 07/29/21 CNY 13.94
XINMIN CITY LUXIN MUNIC 6.41 07/29/21 CNY 13.94
XINTAI CITY COORDINATIN 6.35 03/23/22 CNY 40.75
XINTAI CITY COORDINATIN 6.35 03/23/22 CNY 40.37
XINYANG HUAXIN INVESTME 7.55 04/15/21 CNY 26.30
XINYANG HUAXIN INVESTME 7.55 04/15/21 CNY 20.25
XINYI CITY INVESTMENT & 4.30 01/19/23 CNY 60.00
XINYI CITY INVESTMENT & 4.30 01/19/23 CNY 59.57
XINYI CITY INVESTMENT & 7.39 10/15/20 CNY 20.32
XINYI CITY INVESTMENT & 7.39 10/15/20 CNY 20.01
XINYI URBAN TRANSPORTAT 6.14 02/06/22 CNY 41.53
XINYI URBAN TRANSPORTAT 6.14 02/06/22 CNY 40.77
XINYU CHENGDONG CONSTRU 8.48 05/27/21 CNY 20.33
XINYU CITY SHANTYTOWN Z 6.42 12/09/20 CNY 40.05
XINYU CITY YUSHUI DISTR 7.70 06/24/22 CNY 41.56
XINYU CITY YUSHUI DISTR 7.70 06/24/22 CNY 41.39
XINZHENG NEW DISTRICT D 6.40 01/29/21 CNY 25.13
XINZHOU ASSET MANAGEMEN 7.90 02/21/21 CNY 21.07
XINZHOU ASSET MANAGEMEN 7.90 02/21/21 CNY 20.29
XINZHOU ASSET MANAGEMEN 8.50 12/18/20 CNY 20.17
XINZHOU ASSET MANAGEMEN 8.50 12/18/20 CNY 20.08
XIUSHAN INDUSTRY DEVELO 5.85 04/14/23 CNY 60.00
XIUSHAN INDUSTRY DEVELO 5.85 04/14/23 CNY 60.00
XIWANG GROUP CO LTD 7.80 12/03/22 CNY 49.94
XUANCHENG CITY ECONOMY 7.95 09/22/21 CNY 26.00
XUANCHENG CITY ECONOMY 7.95 09/22/21 CNY 20.76
XUANCHENG STATE-OWNED A 4.12 04/07/23 CNY 60.23
XUANCHENG STATE-OWNED A 4.12 04/07/23 CNY 60.23
XUANCHENG STATE-OWNED A 7.95 03/27/21 CNY 26.00
XUANCHENG STATE-OWNED A 7.95 03/27/21 CNY 20.32
XUZHOU BOCHANT DEVELOPM 5.69 07/28/21 CNY 33.05
XUZHOU CITY JIAWANG CON 4.00 03/23/23 CNY 59.64
XUZHOU CITY TONGSHAN DI 5.23 09/18/22 CNY 41.00
XUZHOU CITY TONGSHAN DI 5.23 09/18/22 CNY 40.58
XUZHOU ECONOMIC TECHNOL 7.35 04/21/21 CNY 20.36
XUZHOU ECONOMIC TECHNOL 7.35 04/21/21 CNY 20.32
XUZHOU HI-TECH INDUSTRI 7.86 04/22/21 CNY 31.50
XUZHOU HI-TECH INDUSTRI 7.86 04/22/21 CNY 20.45
XUZHOU TRANSPORTATION H 7.09 05/15/21 CNY 21.00
XUZHOU TRANSPORTATION H 7.09 05/15/21 CNY 20.40
XUZHOU XINSHENG INVESTM 5.13 08/12/22 CNY 44.46
XUZHOU XINSHENG INVESTM 5.13 08/12/22 CNY 40.86
YANCHENG CITY TINGHU DI 7.95 11/15/20 CNY 20.05
YANCHENG CITY TINGHU DI 7.95 11/15/20 CNY 18.30
YANCHENG DAFENG DISTRIC 8.70 01/24/21 CNY 20.97
YANCHENG DAFENG DISTRIC 8.50 12/30/20 CNY 20.60
YANCHENG DAFENG DISTRIC 8.70 01/24/21 CNY 20.24
YANCHENG DAFENG DISTRIC 8.50 12/30/20 CNY 20.18
YANCHENG HIGH-TECH ZONE 3.90 12/14/22 CNY 60.06
YANCHENG ORIENTAL INVES 6.48 09/15/21 CNY 20.29
YANCHENG SOUTH DISTRICT 6.70 07/30/21 CNY 20.40
YANCHENG SOUTH DISTRICT 6.70 07/30/21 CNY 20.39
YANCHENG YANDU DISTRICT 3.67 03/17/23 CNY 59.47
YANCHENG YANDU DISTRICT 3.67 03/17/23 CNY 59.46
YANGJIANG HENGCAI CITY 6.24 04/14/22 CNY 41.20
YANGJIANG HENGCAI CITY 6.24 04/14/22 CNY 41.04
YANGZHONG TRANSPORTATIO 4.98 04/07/23 CNY 60.62
YANGZHONG TRANSPORTATIO 4.98 04/07/23 CNY 60.32
YANGZHONG TRANSPORTATIO 4.95 04/07/23 CNY 60.11
YANGZHONG TRANSPORTATIO 4.95 04/07/23 CNY 59.69
YANGZHOU CHEMICAL INDUS 8.58 01/24/21 CNY 26.00
YANGZHOU CHEMICAL INDUS 8.58 01/24/21 CNY 20.15
YANGZHOU ECONOMIC & TEC 7.40 03/05/21 CNY 40.63
YANGZHOU ECONOMIC & TEC 7.40 03/05/21 CNY 40.00
YANGZHOU GUANGLING NEW 3.62 09/07/23 CNY 58.00
YANGZHOU GUANGLING NEW 3.62 09/07/23 CNY 55.99
YANGZHOU HANJIANG CONST 5.88 06/15/22 CNY 46.63
YANGZHOU HANJIANG CONST 5.88 06/15/22 CNY 40.94
YI CHENG CONSTRUCTION I 5.44 04/27/23 CNY 60.07
YI ZHENG CITY DEVELOPME 4.63 01/08/23 CNY 60.07
YI ZHENG CITY DEVELOPME 4.63 01/08/23 CNY 60.00
YI ZHENG CITY DEVELOPME 8.60 01/09/21 CNY 29.30
YI ZHENG CITY DEVELOPME 8.60 01/09/21 CNY 20.14
YICHANG HIGH-TECH INVES 4.80 12/15/22 CNY 60.40
YICHANG HIGH-TECH INVES 4.80 12/15/22 CNY 60.00
YICHANG HIGH-TECH INVES 3.74 07/21/23 CNY 59.74
YICHANG HIGH-TECH INVES 3.74 07/21/23 CNY 58.85
YICHUN URBAN CONSTRUCTI 7.09 05/15/21 CNY 23.47
YICHUN URBAN CONSTRUCTI 7.09 05/15/21 CNY 20.40
YICHUN VENTURE CAPITAL 6.70 03/23/22 CNY 40.79
YICHUN VENTURE CAPITAL 6.70 03/23/22 CNY 40.61
YIHUA ENTERPRISE GROUP 7.00 04/29/22 CNY 54.00
YIHUA ENTERPRISE GROUP 6.80 03/15/21 CNY 47.99
YIHUA ENTERPRISE GROUP 5.99 11/26/20 CNY 30.00
YIHUA LIFESTYLE TECHNOL 6.88 07/16/20 CNY 35.90
YIHUA LIFESTYLE TECHNOL 6.88 07/23/20 CNY 35.00
YILI KAZAKH AUTONOMOUS 7.68 02/28/21 CNY 20.75
YILI KAZAKH AUTONOMOUS 7.68 02/28/21 CNY 20.31
YINCHUAN URBAN CONSTRUC 6.88 05/12/21 CNY 20.25
YINGKOU COASTAL DEVELOP 6.45 01/26/22 CNY 40.29
YINGKOU COASTAL DEVELOP 6.45 01/26/22 CNY 39.03
YINGKOU ECO & TECH DEVE 5.20 08/05/23 CNY 59.38
YINGKOU ECO & TECH DEVE 5.20 08/05/23 CNY 58.06
YINGKOU LAOBIAN CITY CO 4.98 03/11/23 CNY 60.00
YINGKOU LAOBIAN CITY CO 5.63 12/16/22 CNY 60.00
YINGKOU LAOBIAN CITY CO 4.98 03/11/23 CNY 58.90
YINGTAN LONGGANG ASSET 6.75 07/31/22 CNY 41.18
YINGTAN LONGGANG ASSET 6.75 07/31/22 CNY 40.20
YINGTAN STATE-OWNED ASS 7.50 12/12/22 CNY 46.58
YINGTAN STATE-OWNED ASS 7.50 12/12/22 CNY 46.56
YINGTAN STATE-OWNED ASS 3.63 08/12/21 CNY 39.98
YINING CITY STATE OWNED 5.37 09/24/22 CNY 39.31
YINING CITY STATE OWNED 8.90 01/23/21 CNY 29.95
YINING CITY STATE OWNED 8.90 01/23/21 CNY 20.26
YIWU CITY CONSTRUCTION 4.31 12/07/22 CNY 60.40
YIWU CITY CONSTRUCTION 4.31 12/07/22 CNY 60.27
YIWU URBAN & RURAL NEW 4.25 11/24/21 CNY 49.84
YIXING CITY CONSTRUCTIO 6.16 03/30/22 CNY 40.87
YIXING CITY CONSTRUCTIO 6.16 03/30/22 CNY 40.00
YIXING TUOYE INDUSTRIAL 7.60 05/28/21 CNY 23.50
YIXING TUOYE INDUSTRIAL 7.60 05/28/21 CNY 20.28
YIYANG ADVANCED INDUSTR 7.00 03/30/22 CNY 48.00
YIYANG ADVANCED INDUSTR 7.00 03/30/22 CNY 40.63
YIZHANG XINGYI CONSTRUC 5.49 09/02/24 CNY 69.26
YIZHANG XINGYI CONSTRUC 5.49 09/02/24 CNY 67.96
YONG ZHOU CITY CONSTRUC 7.30 10/23/20 CNY 20.03
YONGJIA INVESTMENT GROU 6.50 11/12/21 CNY 40.59
YONGJIA INVESTMENT GROU 6.50 11/12/21 CNY 40.00
YONGXING YINDU CONSTRUC 5.60 03/24/23 CNY 60.56
YONGXING YINDU CONSTRUC 5.60 03/24/23 CNY 60.56
YONGZHOU ECONOMIC CONST 3.55 01/14/23 CNY 60.50
YONGZHOU ECONOMIC CONST 3.55 01/14/23 CNY 59.43
YUANAN COUNTY QIFENG CI 5.50 05/27/23 CNY 60.56
YUANAN COUNTY QIFENG CI 5.50 05/27/23 CNY 60.02
YUEYANG CITY DONGTING N 6.15 03/20/22 CNY 40.15
YUEYANG CITY DONGTING N 6.15 03/20/22 CNY 40.06
YUEYANG HUILIN INVESTME 5.50 11/03/21 CNY 40.06
YUEYANG HUILIN INVESTME 5.50 11/03/21 CNY 40.00
YUEYANG YUNXI CITY CONS 6.00 07/08/23 CNY 60.10
YUEYANG YUNXI CITY CONS 6.00 07/08/23 CNY 58.99
YUHUAN CITY COMMUNICATI 5.65 11/03/21 CNY 44.50
YUHUAN CITY COMMUNICATI 6.18 03/20/22 CNY 44.47
YUHUAN CITY COMMUNICATI 5.65 11/03/21 CNY 40.40
YUHUAN CITY COMMUNICATI 6.18 03/20/22 CNY 40.37
YUHUAN CITY CONSTRUCTIO 5.10 05/03/23 CNY 61.01
YUHUAN CITY CONSTRUCTIO 5.10 05/03/23 CNY 60.23
YUNNAN METROPOLITAN CON 6.77 05/23/21 CNY 20.35
YUNNAN METROPOLITAN CON 6.77 05/23/21 CNY 19.80
YUYAO CITY CONSTRUCTION 7.09 05/19/21 CNY 20.46
YUZHOU GENERAL INVESTME 4.68 01/19/23 CNY 60.17
YUZHOU GENERAL INVESTME 4.68 01/19/23 CNY 60.00
ZAOYANG CITY CONSTRUCTI 5.50 03/22/23 CNY 60.58
ZAOYANG CITY CONSTRUCTI 5.50 03/22/23 CNY 60.13
ZHANGJIAGANG JINCHENG I 6.88 04/28/21 CNY 20.30
ZHANGJIAGANG JINCHENG I 6.88 04/28/21 CNY 20.30
ZHANGJIAJIE ECONOMIC DE 7.80 04/17/21 CNY 20.32
ZHANGQIU STATE OWNED AS 3.69 08/09/23 CNY 59.59
ZHANGQIU STATE OWNED AS 3.69 08/09/23 CNY 58.47
ZHANGSHU STATE-OWNED AS 4.80 06/22/23 CNY 62.67
ZHANGSHU STATE-OWNED AS 4.80 06/22/23 CNY 59.98
ZHANGYE CITY INVESTMENT 6.92 09/22/21 CNY 20.90
ZHANGYE CITY INVESTMENT 6.92 09/22/21 CNY 20.48
ZHANGZHOU ECONOMIC DEVE 6.17 04/27/22 CNY 40.80
ZHANGZHOU ECONOMIC DEVE 6.17 04/27/22 CNY 40.50
ZHANGZHOU JIULONGJIANG 6.48 06/20/21 CNY 20.43
ZHANGZHOU JIULONGJIANG 6.48 06/20/21 CNY 20.30
ZHANJIANG INFRASTRUCTUR 6.93 10/21/20 CNY 20.10
ZHANJIANG INFRASTRUCTUR 6.93 10/21/20 CNY 20.01
ZHAOQING GAOYAO DISTRIC 6.68 04/14/22 CNY 40.79
ZHAOQING GAOYAO DISTRIC 6.68 04/14/22 CNY 40.00
ZHAOQING HI-TECH ZONE C 3.97 08/26/23 CNY 59.71
ZHAOQING HI-TECH ZONE C 3.97 08/26/23 CNY 58.99
ZHEJIANG BINHAI NEW CIT 4.65 12/23/22 CNY 60.46
ZHEJIANG CHANGXING JING 7.99 03/03/21 CNY 30.00
ZHEJIANG CHANGXING JING 7.99 03/03/21 CNY 20.15
ZHEJIANG GUOXING INVEST 6.94 08/01/21 CNY 28.50
ZHEJIANG GUOXING INVEST 6.94 08/01/21 CNY 20.48
ZHEJIANG HANGZHOU QINGS 7.90 04/23/21 CNY 24.00
ZHEJIANG HANGZHOU QINGS 7.90 04/23/21 CNY 20.39
ZHEJIANG HUISHENG INVES 4.49 03/15/24 CNY 70.24
ZHEJIANG HUISHENG INVES 4.49 03/15/24 CNY 70.00
ZHEJIANG OUHAI CONSTRUC 4.83 01/21/23 CNY 60.42
ZHEJIANG OUHAI CONSTRUC 6.45 04/23/22 CNY 41.05
ZHEJIANG OUHAI CONSTRUC 6.45 04/23/22 CNY 40.30
ZHEJIANG PROVINCE XINCH 6.95 12/31/21 CNY 41.20
ZHEJIANG PROVINCE XINCH 5.88 10/30/21 CNY 41.06
ZHEJIANG PROVINCE XINCH 6.95 12/31/21 CNY 40.91
ZHEJIANG PROVINCE XINCH 5.88 10/30/21 CNY 40.47
ZHENGZHOU AIRPORT ECONO 4.27 07/20/26 CNY 70.19
ZHENGZHOU AIRPORT ECONO 4.27 07/20/26 CNY 70.19
ZHENGZHOU JINGKAI INVES 5.48 07/31/22 CNY 40.95
ZHENGZHOU JINGKAI INVES 5.48 07/31/22 CNY 40.00
ZHENGZHOU MOUZHONG DEVE 4.59 04/18/23 CNY 60.49
ZHENGZHOU MOUZHONG DEVE 4.59 04/18/23 CNY 60.42
ZHENGZHOU MOUZHONG DEVE 7.48 12/11/21 CNY 46.20
ZHENGZHOU MOUZHONG DEVE 7.48 12/11/21 CNY 40.69
ZHENJIANG CITY CONSTRUC 7.90 12/18/20 CNY 28.50
ZHENJIANG CITY CONSTRUC 8.20 01/13/21 CNY 28.49
ZHENJIANG CITY CONSTRUC 8.20 01/13/21 CNY 20.21
ZHENJIANG CITY CONSTRUC 7.90 12/18/20 CNY 20.14
ZHENJIANG DANTU DISTRIC 5.89 11/03/21 CNY 40.14
ZHENJIANG DANTU DISTRIC 5.89 11/03/21 CNY 39.60
ZHENJIANG NEW AREA URBA 5.31 07/14/23 CNY 60.50
ZHENJIANG NEW AREA URBA 5.31 07/14/23 CNY 59.47
ZHENJIANG NEW AREA URBA 8.35 02/26/21 CNY 20.18
ZHENJIANG NEW AREA URBA 8.99 01/16/21 CNY 20.12
ZHIJIANG STATE-OWNED AS 4.38 03/28/23 CNY 64.70
ZHIJIANG STATE-OWNED AS 4.78 01/11/23 CNY 60.05
ZHIJIANG STATE-OWNED AS 4.38 03/28/23 CNY 60.00
ZHIJIANG STATE-OWNED AS 4.78 01/11/23 CNY 60.00
ZHONGGUANCUN DEVELOPMEN 4.20 08/12/22 CNY 40.50
ZHONGGUANCUN DEVELOPMEN 4.20 08/12/22 CNY 40.17
ZHONGMINTOU LEASING HOL 7.55 09/21/21 CNY 49.49
ZHONGRONG XINDA GROUP C 7.10 01/22/21 CNY 33.70
ZHONGSHAN TRANSPORTATIO 5.25 11/26/21 CNY 40.33
ZHONGSHAN TRANSPORTATIO 5.25 11/26/21 CNY 40.00
ZHONGTIAN FINANCIAL GRO 7.00 10/15/20 CNY 24.91
ZHOUKOU INVESTMENT GROU 7.49 04/21/21 CNY 20.16
ZHOUSHAN DINGHAI CITY C 6.67 07/20/22 CNY 40.40
ZHOUSHAN DINGHAI STATE- 7.13 08/04/21 CNY 20.33
ZHOUSHAN DINGHAI STATE- 7.13 08/04/21 CNY 20.18
ZHOUSHAN ISLANDS NEW DI 6.98 10/22/22 CNY 56.33
ZHOUSHAN ISLANDS NEW DI 6.98 10/22/22 CNY 55.80
ZHOUSHAN PUTUO DISTRICT 7.18 06/20/22 CNY 41.90
ZHOUSHAN PUTUO DISTRICT 7.18 06/20/22 CNY 41.29
ZHUHAI HUIHUA INFRASTRU 4.70 06/27/23 CNY 60.38
ZHUHAI HUIHUA INFRASTRU 4.70 06/27/23 CNY 60.32
ZHUJI CITY EAST NEW TOW 3.89 08/26/23 CNY 59.79
ZHUJI CITY YUEDU INVEST 6.38 04/07/22 CNY 41.01
ZHUJI CITY YUEDU INVEST 6.38 04/07/22 CNY 40.95
ZHUJI CITY YUEDU INVEST 8.20 12/12/20 CNY 24.50
ZHUJI CITY YUEDU INVEST 8.20 12/12/20 CNY 20.20
ZHUZHOU CITY CONSTRUCTI 8.36 11/10/21 CNY 43.75
ZHUZHOU CITY CONSTRUCTI 6.95 10/16/20 CNY 20.04
ZHUZHOU CITY CONSTRUCTI 6.95 10/16/20 CNY 20.03
ZHUZHOU GECKOR GROUP CO 3.78 09/28/23 CNY 59.09
ZHUZHOU GECKOR GROUP CO 3.78 09/28/23 CNY 58.81
ZHUZHOU GECKOR GROUP CO 6.38 04/17/22 CNY 40.80
ZHUZHOU GECKOR GROUP CO 6.38 04/17/22 CNY 40.00
ZHUZHOU GECKOR GROUP CO 6.95 08/11/21 CNY 20.86
ZHUZHOU GECKOR GROUP CO 6.95 08/11/21 CNY 20.35
ZHUZHOU RECYCLING ECONO 4.38 03/24/23 CNY 57.68
ZHUZHOU RECYCLING ECONO 4.38 03/24/23 CNY 57.04
ZHUZHOU XIANGJIANG SCEN 5.39 11/25/22 CNY 60.72
ZHUZHOU XIANGJIANG SCEN 5.39 11/25/22 CNY 60.24
ZIBO BANYANG CITY URBAN 5.50 09/09/22 CNY 41.03
ZIBO BANYANG CITY URBAN 5.50 09/09/22 CNY 40.00
ZIYANG WATER INVESTMENT 3.97 03/17/23 CNY 58.30
ZIYANG WATER INVESTMENT 3.97 03/17/23 CNY 58.29
ZIYANG WATER INVESTMENT 7.40 10/21/20 CNY 20.01
ZIYANG WATER INVESTMENT 7.40 10/21/20 CNY 20.00
ZIZHONG COUNTY XINGZI I 5.97 01/18/23 CNY 59.68
ZIZHONG COUNTY XINGZI I 5.97 01/18/23 CNY 58.59
ZUNYI ECONOMIC DEVELOPM 4.87 01/22/23 CNY 60.00
ZUNYI ECONOMIC DEVELOPM 4.87 01/22/23 CNY 57.87
ZUNYI HONGHUAGANG CITY 6.98 07/25/24 CNY 74.90
ZUNYI HONGHUAGANG CITY 5.05 06/27/23 CNY 59.06
ZUNYI HONGHUAGANG CITY 5.05 06/27/23 CNY 57.87
ZUNYI NEW DISTRICT DEVE 5.99 04/07/26 CNY 69.89
ZUNYI NEW DISTRICT DEVE 5.99 04/07/26 CNY 69.62
ZUNYI ROAD & BRIDGE CON 6.10 04/27/23 CNY 57.96
ZUNYI ROAD & BRIDGE CON 6.10 04/27/23 CNY 52.90
HONG KONG
---------
DR PENG HOLDING HONGKON 7.55 12/01/21 USD 71.55
HNA GROUP INTERNATIONAL 6.25 10/05/21 USD 54.33
INDIA
-----
3I INFOTECH LTD 2.50 03/31/25 USD 9.75
AMPSOLAR SOLUTION PVT L 0.01 10/27/37 INR 26.92
AMPSOLAR SOLUTION PVT L 0.01 11/03/37 INR 26.88
APG HABITAT PVT LTD 1.00 09/09/28 INR 60.52
APG INTELLI HOMES PVT L 1.25 02/04/35 INR 44.36
APG INTELLI HOMES PVT L 1.25 02/04/35 INR 42.26
AUTOMOTIVE EXCHANGE PVT 4.00 06/01/30 INR 63.09
AUTOMOTIVE EXCHANGE PVT 4.00 10/11/30 INR 62.85
BREEZE CONSTRUCTIONS PV 0.01 06/29/30 INR 44.46
BRITANNIA INDUSTRIES LT 8.00 08/28/22 INR 31.16
CHANDRAJYOTI ESTATE DEV 0.01 07/06/30 INR 47.08
CREIXENT SPECIAL STEELS 0.01 08/28/25 INR 68.72
CUMULUS TRADING CO PVT 0.01 01/23/30 INR 62.29
CUMULUS TRADING CO PVT 0.01 05/21/32 INR 39.17
DEWAN HOUSING FINANCE C 8.50 04/18/23 INR 28.36
DLF EMPORIO RESTAURANTS 0.01 06/29/30 INR 46.44
DLF EMPORIO RESTAURANTS 0.01 08/12/30 INR 45.99
DLF HOME DEVELOPERS LTD 0.01 06/29/30 INR 48.53
DLF HOMES SERVICES PVT 0.01 06/29/30 INR 44.46
DLF REAL ESTATE BUILDER 0.01 06/23/30 INR 47.05
DLF RESIDENTIAL BUILDER 0.01 06/23/30 INR 44.47
DLF RESIDENTIAL DEVELOP 0.01 06/28/30 INR 47.09
DLF SOUTHERN TOWNS PVT 0.01 07/09/30 INR 47.16
DOMUS REAL ESTATE PVT L 0.01 07/11/30 INR 47.15
EDELWEISS ASSET RECONST 2.00 03/28/27 INR 71.85
EDELWEISS ASSET RECONST 2.00 11/20/27 INR 69.50
EDELWEISS ASSET RECONST 2.00 10/07/28 INR 66.12
EDELWEISS ASSET RECONST 2.00 01/15/29 INR 65.13
EDELWEISS ASSET RECONST 2.00 07/22/29 INR 63.32
ESSAR POWER TRANSMISSIO 3.00 03/31/43 INR 48.35
ESSAR POWER TRANSMISSIO 3.00 03/31/43 INR 48.35
GREEN URJA PVT LTD 0.01 02/14/30 INR 48.36
GTL INFRASTRUCTURE LTD 6.73 10/26/22 USD 5.65
HINDUSTAN CONSTRUCTION 0.01 01/05/27 INR 61.32
HITODI INFRASTRUCTURE L 0.01 06/30/27 INR 57.46
JAIPRAKASH ASSOCIATES L 5.75 09/08/17 USD 55.13
JAIPRAKASH POWER VENTUR 7.00 05/15/17 USD 4.56
JCT LTD 2.50 04/08/11 USD 25.75
JSM CORP PVT LTD 0.01 08/31/36 INR 28.72
JTPM ATSALI LTD 0.01 08/29/48 INR 13.66
KANAKADURGA FINANCE LTD 0.01 04/15/36 INR 27.46
KRIBHCO INFRASTRUCTURE 1.00 04/15/26 INR 71.43
MARIS POWER SUPPLY CO P 2.00 04/18/28 INR 68.47
MELOSA BUILDERS & DEVEL 0.01 06/29/30 INR 45.46
MENS BUILDCON PVT LTD 0.01 06/29/30 INR 45.46
MYTRAH AADHYA POWER PVT 0.01 07/05/35 INR 32.04
MYTRAH ADVAITH POWER PV 0.01 07/13/36 INR 29.72
MYTRAH AKSHAYA ENERGY P 0.01 07/13/36 INR 29.72
ORIGAMI CELLULO PVT LTD 0.01 11/14/36 INR 28.40
PRAKASH INDUSTRIES LTD 5.25 04/30/15 USD 22.63
PUNJAB INFRASTRUCTURE D 0.40 10/15/26 INR 70.75
PUNJAB INFRASTRUCTURE D 0.40 10/15/27 INR 65.95
PUNJAB INFRASTRUCTURE D 0.40 10/15/28 INR 61.43
PUNJAB INFRASTRUCTURE D 0.40 10/15/29 INR 57.24
PUNJAB INFRASTRUCTURE D 0.40 10/15/30 INR 53.39
PUNJAB INFRASTRUCTURE D 0.40 10/15/31 INR 49.88
PUNJAB INFRASTRUCTURE D 0.40 10/15/32 INR 46.69
PUNJAB INFRASTRUCTURE D 0.40 10/15/33 INR 43.97
PYRAMID SAIMIRA THEATRE 1.75 07/04/12 USD 0.26
R L FINE CHEM PVT LTD 0.10 08/19/36 INR 29.26
REDKITE CAPITAL PVT LTD 2.50 01/15/28 INR 71.74
REDKITE CAPITAL PVT LTD 2.50 03/30/29 INR 67.63
REI AGRO LTD 5.50 11/13/14 USD 0.96
REI AGRO LTD 5.50 11/13/14 USD 0.96
RELIANCE COMMUNICATIONS 6.50 11/06/20 USD 9.95
SAKET HOLIDAYS RESORTS 0.01 06/29/30 INR 47.10
SHIVAJI MARG MAINTENANC 0.01 06/28/30 INR 44.93
SINTEX INDUSTRIES LTD 3.50 05/25/22 USD 25.00
SURBHI INVESTMENTS & TR 2.50 10/21/28 INR 68.93
SUZLON ENERGY LTD 5.75 07/16/19 USD 24.85
SUZLON ENERGY LTD 5.75 07/16/19 USD 24.85
SVOGL OIL GAS & ENERGY 5.00 08/17/15 USD 0.61
TATA SMARTFOODZ LTD 0.01 07/15/25 INR 71.05
TN URJA PVT LTD 0.10 02/22/36 INR 31.21
VIDEOCON INDUSTRIES LTD 2.80 12/31/20 USD 28.88
WATSUN INFRABUILD PVT L 4.00 10/16/37 INR 60.47
WS T&D LTD 0.10 03/24/29 INR 52.48
ZYDUS FOUNDATION 0.10 03/25/25 INR 72.11
INDONESIA
---------
ABM INVESTAMA TBK PT 7.13 08/01/22 USD 63.34
ABM INVESTAMA TBK PT 7.13 08/01/22 USD 62.64
BERAU COAL ENERGY TBK P 7.25 03/13/17 USD 44.38
BERAU COAL ENERGY TBK P 7.25 03/13/17 USD 44.38
DELTA MERLIN DUNIA TEKS 8.63 03/12/24 USD 10.20
DELTA MERLIN DUNIA TEKS 8.63 03/12/24 USD 6.86
GAJAH TUNGGAL TBK PT 8.38 08/10/22 USD 68.28
MNC INVESTAMA TBK PT 9.00 05/11/21 USD 68.42
JAPAN
-----
AVANSTRATE INC 0.10 10/29/32 JPY 9.75
TKJP CORP 0.58 03/26/21 JPY 2.02
TKJP CORP 0.85 03/06/19 JPY 2.02
TKJP CORP 1.02 12/15/17 JPY 0.50
UNIZO HOLDINGS CO LTD 0.85 05/26/23 JPY 74.87
UNIZO HOLDINGS CO LTD 0.80 11/29/23 JPY 71.76
UNIZO HOLDINGS CO LTD 0.89 05/29/24 JPY 69.44
UNIZO HOLDINGS CO LTD 1.10 11/28/24 JPY 67.42
UNIZO HOLDINGS CO LTD 0.99 11/27/26 JPY 63.00
UNIZO HOLDINGS CO LTD 1.50 11/26/27 JPY 61.88
UNIZO HOLDINGS CO LTD 1.20 05/28/27 JPY 61.48
KOREA
-----
ECOMAISTER CO LTD 2.00 10/11/22 KRW 66.73
HEUNGKUK FIRE & MARINE 5.70 12/29/46 KRW 45.55
JT CAPITAL FIRST ASSET 2.73 07/24/45 KRW 68.23
KIBO ABS SPECIALTY CO L 5.00 08/28/21 KRW 73.06
KIBO ABS SPECIALTY CO L 5.00 02/24/22 KRW 72.34
KIBO ABS SPECIALTY CO L 5.00 02/28/22 KRW 71.50
KIBO ABS SPECIALTY CO L 5.00 02/24/23 KRW 70.24
KIBO ABS SPECIALTY CO L 5.00 02/26/21 KRW 64.62
LOTTE CARD CO LTD 3.95 06/28/49 KRW 37.37
POSCO ENERGY CO LTD 5.21 08/29/43 KRW 61.02
SAMPYO CEMENT CO LTD 8.10 06/26/15 KRW 70.00
SAMPYO CEMENT CO LTD 8.10 04/12/15 KRW 70.00
SAMPYO CEMENT CO LTD 8.30 09/10/14 KRW 70.00
SAMPYO CEMENT CO LTD 7.50 07/20/14 KRW 70.00
SAMPYO CEMENT CO LTD 8.30 04/20/14 KRW 70.00
SINBO SECURITIZATION SP 5.00 09/28/22 KRW 73.84
SINBO SECURITIZATION SP 5.00 06/29/22 KRW 73.76
SINBO SECURITIZATION SP 5.00 06/29/21 KRW 73.27
SINBO SECURITIZATION SP 5.00 12/27/21 KRW 72.18
SINBO SECURITIZATION SP 5.00 02/28/23 KRW 71.88
SINBO SECURITIZATION SP 5.00 03/20/23 KRW 71.73
SINBO SECURITIZATION SP 5.00 02/28/22 KRW 71.49
SINBO SECURITIZATION SP 5.00 12/25/23 KRW 69.69
SINBO SECURITIZATION SP 5.00 12/25/22 KRW 69.25
SINBO SECURITIZATION SP 5.00 10/24/23 KRW 69.23
SINBO SECURITIZATION SP 5.00 10/24/23 KRW 69.23
SINBO SECURITIZATION SP 5.00 11/21/23 KRW 69.10
SINBO SECURITIZATION SP 5.00 07/24/23 KRW 68.90
SINBO SECURITIZATION SP 5.00 08/29/23 KRW 68.47
SINBO SECURITIZATION SP 5.00 08/29/23 KRW 68.47
SINBO SECURITIZATION SP 5.00 09/26/23 KRW 68.16
SINBO SECURITIZATION SP 5.00 09/26/23 KRW 68.16
SINBO SECURITIZATION SP 5.00 09/26/23 KRW 68.16
SINBO SECURITIZATION SP 5.00 01/25/23 KRW 68.14
SINBO SECURITIZATION SP 5.00 06/27/23 KRW 67.98
SINBO SECURITIZATION SP 5.00 12/21/20 KRW 67.95
SINBO SECURITIZATION SP 5.00 07/24/22 KRW 66.71
SINBO SECURITIZATION SP 5.00 07/26/22 KRW 66.68
SINBO SECURITIZATION SP 4.00 12/25/23 KRW 66.62
SINBO SECURITIZATION SP 4.00 12/25/23 KRW 66.62
SINBO SECURITIZATION SP 5.00 08/29/22 KRW 66.22
SINBO SECURITIZATION SP 5.00 08/31/22 KRW 66.21
SINBO SECURITIZATION SP 5.00 09/26/22 KRW 65.90
SINBO SECURITIZATION SP 5.00 01/25/22 KRW 65.87
SINBO SECURITIZATION SP 5.00 01/26/22 KRW 65.87
SINBO SECURITIZATION SP 5.00 06/27/22 KRW 65.84
SINBO SECURITIZATION SP 5.00 02/23/22 KRW 65.74
SINBO SECURITIZATION SP 3.00 11/21/23 KRW 64.44
SINBO SECURITIZATION SP 5.00 03/21/21 KRW 63.99
SINBO SECURITIZATION SP 5.00 07/26/21 KRW 62.83
SINBO SECURITIZATION SP 5.00 08/31/21 KRW 62.06
MALAYSIA
--------
ASIAN PAC HOLDINGS BHD 3.00 05/25/22 MYR 0.53
BERJAYA CORP BHD 5.00 04/22/22 MYR 0.26
BERJAYA CORP BHD 2.00 05/29/26 MYR 0.11
ELK-DESA RESOURCES BHD 3.25 04/14/22 MYR 1.14
HIAP TECK VENTURE BHD 5.00 06/23/21 MYR 0.18
HUME INDUSTRIES BHD 5.00 05/29/24 MYR 1.01
MALAYAN FLOUR MILLS BHD 5.00 01/24/24 MYR 1.11
PENGURUSAN AIR SPV BHD 1.00 09/28/35 MYR 69.10
PMB TECHNOLOGY BHD 3.00 07/12/23 MYR 2.56
SENAI-DESARU EXPRESSWAY 1.35 12/31/30 MYR 74.02
SENAI-DESARU EXPRESSWAY 1.35 06/30/31 MYR 72.72
VIZIONE HOLDINGS BHD 3.00 08/08/21 MYR 0.03
NEW ZEALAND
-----------
PRECINCT PROPERTIES NEW 4.80 09/27/21 NZD 1.14
PHILIPPINES
-----------
BAYAN TELECOMMUNICATION 15.00 07/15/06 USD 22.75
SINGAPORE
---------
ALAM SYNERGY PTE LTD 11.50 04/22/21 USD 72.50
ALAM SYNERGY PTE LTD 6.63 04/24/22 USD 58.39
APL REALTY HOLDINGS PTE 5.95 06/02/24 USD 68.39
ASL MARINE HOLDINGS LTD 3.00 03/28/25 SGD 46.25
ASL MARINE HOLDINGS LTD 3.00 10/01/26 SGD 46.25
BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 0.63
BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 0.63
BERAU CAPITAL RESOURCES 12.50 07/08/15 USD 32.01
BERAU CAPITAL RESOURCES 12.50 07/08/15 USD 32.01
BLD INVESTMENTS PTE LTD 8.63 03/23/15 USD 4.88
BLUE OCEAN RESOURCES PT 8.00 12/31/21 USD 30.06
BLUE OCEAN RESOURCES PT 8.00 12/31/21 USD 30.06
BLUE OCEAN RESOURCES PT 8.00 12/31/21 USD 30.06
ENERCOAL RESOURCES PTE 9.25 08/05/14 USD 45.75
ETERNA CAPITAL PTE LTD 7.50 12/11/22 USD 43.48
ETERNA CAPITAL PTE LTD 8.00 12/11/22 USD 22.86
EZRA HOLDINGS LTD 4.88 04/24/18 SGD 5.00
GEO COAL INTERNATIONAL 8.00 10/04/22 USD 44.01
GEO COAL INTERNATIONAL 8.00 10/04/22 USD 43.86
HYFLUX LTD 4.60 09/23/19 SGD 10.00
HYFLUX LTD 4.20 08/29/19 SGD 10.00
HYFLUX LTD 4.25 09/07/18 SGD 10.00
INDO INFRASTRUCTURE GRO 2.00 07/30/10 USD 1.00
INNOVATE CAPITAL PTE LT 6.00 12/11/24 USD 18.00
JGC VENTURES PTE LTD 10.75 08/30/21 USD 38.00
MICLYN EXPRESS OFFSHORE 8.75 11/25/18 USD 24.16
MODERNLAND OVERSEAS PTE 6.95 04/13/24 USD 40.09
MULHACEN PTE LTD 6.50 08/01/23 EUR 46.06
MULHACEN PTE LTD 6.50 08/01/23 EUR 45.58
NT RIG HOLDCO PTE LTD 7.50 12/20/21 USD 60.00
ORO NEGRO DRILLING PTE 7.50 01/24/19 USD 14.50
OXLEY MTN PTE LTD 6.50 02/28/23 SGD 74.15
PACIFIC INTERNATIONAL L 8.50 11/16/20 SGD 48.20
PACIFIC RADIANCE LTD 4.30 03/31/20 SGD 10.00
RICKMERS MARITIME 8.45 05/15/17 SGD 5.00
SOECHI CAPITAL PTE LTD 8.38 01/31/23 USD 62.03
SOECHI CAPITAL PTE LTD 8.38 01/31/23 USD 60.56
SSMS PLANTATION HOLDING 7.75 01/23/23 USD 56.72
SWIBER CAPITAL PTE LTD 6.50 08/02/18 SGD 4.20
SWIBER CAPITAL PTE LTD 6.25 10/30/17 SGD 4.20
SWIBER HOLDINGS LTD 5.55 10/10/16 SGD 12.25
SWIBER HOLDINGS LTD 7.75 09/18/17 CNY 7.75
SWIBER HOLDINGS LTD 7.13 04/18/17 SGD 7.75
SRI LANKA
---------
SRI LANKA DEVELOPMENT B 5.66 05/01/23 USD 74.48
SRI LANKA DEVELOPMENT B 4.48 01/22/23 USD 74.10
SRI LANKA DEVELOPMENT B 4.29 01/22/23 USD 73.75
SRI LANKA DEVELOPMENT B 4.27 03/16/23 USD 72.67
SRI LANKA DEVELOPMENT B 4.17 05/01/23 USD 71.91
SRI LANKA DEVELOPMENT B 4.13 05/01/23 USD 71.83
SRI LANKA DEVELOPMENT B 6.87 01/22/25 USD 70.93
SRI LANKA DEVELOPMENT B 6.80 01/22/25 USD 70.73
SRI LANKA DEVELOPMENT B 6.75 01/22/25 USD 70.58
SRI LANKA DEVELOPMENT B 6.50 01/22/25 USD 69.85
SRI LANKA DEVELOPMENT B 6.02 01/22/25 USD 68.44
SRI LANKA DEVELOPMENT B 5.98 01/22/25 USD 68.32
SRI LANKA DEVELOPMENT B 4.91 01/22/25 USD 65.35
SRI LANKA GOVERNMENT IN 5.75 04/18/23 USD 73.10
SRI LANKA GOVERNMENT IN 5.75 04/18/23 USD 72.81
SRI LANKA GOVERNMENT IN 6.85 03/14/24 USD 72.12
SRI LANKA GOVERNMENT IN 6.85 03/14/24 USD 71.96
SRI LANKA GOVERNMENT IN 6.35 06/28/24 USD 71.35
SRI LANKA GOVERNMENT IN 6.35 06/28/24 USD 71.30
SRI LANKA GOVERNMENT IN 6.85 11/03/25 USD 69.81
SRI LANKA GOVERNMENT IN 6.85 11/03/25 USD 69.79
SRI LANKA GOVERNMENT IN 6.13 06/03/25 USD 69.25
SRI LANKA GOVERNMENT IN 6.13 06/03/25 USD 69.21
SRI LANKA GOVERNMENT IN 6.83 07/18/26 USD 68.61
SRI LANKA GOVERNMENT IN 6.83 07/18/26 USD 68.39
SRI LANKA GOVERNMENT IN 7.85 03/14/29 USD 67.57
SRI LANKA GOVERNMENT IN 7.85 03/14/29 USD 67.43
SRI LANKA GOVERNMENT IN 7.55 03/28/30 USD 66.32
SRI LANKA GOVERNMENT IN 6.75 04/18/28 USD 66.31
SRI LANKA GOVERNMENT IN 7.55 03/28/30 USD 66.28
SRI LANKA GOVERNMENT IN 6.20 05/11/27 USD 66.26
SRI LANKA GOVERNMENT IN 6.75 04/18/28 USD 66.21
SRI LANKA GOVERNMENT IN 6.20 05/11/27 USD 66.09
SRILANKAN AIRLINES LTD 7.00 06/25/24 USD 67.64
THAILAND
--------
MDX PCL 4.75 09/17/03 USD 22.88
G STEEL PCL 3.00 10/04/15 USD 0.55
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter-Asia Pacific is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Marites O. Claro, Joy A. Agravante, Rousel Elaine T. Fernandez,
Julie Anne L. Toledo, Ivy B. Magdadaro and Peter A. Chapman,
Editors.
Copyright 2020. All rights reserved. ISSN: 1520-9482.
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