/raid1/www/Hosts/bankrupt/TCRAP_Public/200714.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, July 14, 2020, Vol. 23, No. 140
Headlines
A U S T R A L I A
COLMARJ PTY: Second Creditors' Meeting Set for July 21
GEELONG MOOD: Worrells Solvency Appointed as Administrators
MARTAR PTY: Second Creditors' Meeting Set for July 21
STELLER 107: Second Creditors' Meeting Set for July 22
C H I N A
CIFI HOLDINGS: S&P Assigns BB- Rating to New USD Sr. Unsec. Notes
JOWAY HEALTH: March 31 Quarter Results Cast Going Concern Doubt
RESORT SAVERS: Has $318,000 Net Loss for Quarter Ended March 31
TAHOE GROUP: Moody's Downgrades CFR to Caa3, Outlook Negative
[*] CHINA: Aviation Industry Suffers US$4.9BB Loss in Q2
I N D I A
AGRAWAL SOYA: CRISIL Withdraws B+ Rating on INR7cr Cash Loan
AMTEK AUTO: NCLT Approves Resolution Plan Submitted by DVIL
ANUGRAH STOCK: CRISIL Lowers Rating on INR14cr Loan to B+
ATITHYA INN: Ind-Ra Lowers Long Term Issuer Rating to BB+
BALAMURUGAN MODERN: CRISIL Assigns B Rating to INR16.5cr Loan
BHARATH LAJHNA: CRISIL Migrates B CCR to Issuer Not Cooperating
DHANRAJ COTTON: CRISIL Withdraws B Rating on INR7.88cr Loans
GAURAV BHARTI: CRISIL Migrates D Debt Ratings to Not Cooperating
H AND J MALL: CRISIL Withdraws D Rating on INR10cr Loans
J. Y. INTERNATIONAL: CRISIL Withdraws D Rating on INR14.5cr Loan
JAWAHAR SHETKARI: CRISIL Raises Rating on INR40cr Cash Loan to B-
KUMAR FEEDS: CRISIL Migrates B Debt Ratings to Not Cooperating
LEEWAY LOGISTICS: CRISIL Keeps D Debt Ratings to Not Cooperating
M.S. LUVISH: Ind-Ra Affirms BB LT Issuer Rating
MANN MEDICITI: CRISIL Hikes Ratings on INR6.0cr Loans to B
MECHANO ENGINEERING: Ind-Ra Moves BB- LT Issuer Rating to Non-Coop.
NITIN FIRE: CRISIL Keeps D Debt Ratings in Not Cooperating
NOMULA BROTHERS: CRISIL Moves B Debt Ratings to Not Cooperating
PRAMEELA PARBOILED: CRISIL Moves B+ Debt Ratings to Not Coop
PUNJABI UNIVERSITY: Ind-Ra Lowers Bank Loan Rating to BB
RADHE BUILDSPACE: CRISIL Reaffirms B+ Rating on INR88cr LT Loan
RADHESH PLASTICS: CRISIL Migrates B Debt Ratings to Not Coop
RBL SHEETGRAH: CRISIL Assigns B+ Rating to INR5.25cr Loan
RELIANCE INFRASTRUCTURE: Ind-Ra Affirms D LT Issuer Rating
ROSELABS LIMITED: CRISIL Keeps D Debt Ratings to Not Cooperating
RUCKMONI MEMORIAL: Ind-Ra Lowers Bank Loan Rating to BB
RWL HEALTHWORLD: Ind-Ra Keeps D Issuer Rating in Non-Cooperating
S HOMES: CRISIL Migrates D Debt Ratings to Not Cooperating
S.M. RAM COAL: CRISIL Moves D Debt Ratings to Not Cooperating
SAVA HEALTHCARE: Ind-Ra Affirms BB LT Issuer Rating, Outlook Stable
SGR (777) FOODS: CRISIL Moves B Debt Ratings to Not Cooperating
SLV ENTERPRISES: CRISIL Moves B+ INR10cr Debt Rating to Not Coop
SMART AGRO: Ind-Ra Moves B+ LT Issuer Rating to Non-Cooperating
SRI RAJA: Ind-Ra Lowers LT Issuer Rating to BB+, Outlook Stable
SS ALUMINIUM: CRISIL Migrates D Debt Ratings to Not Cooperating
THENI GURU: Ind-Ra Cuts LT Issuer Rating to BB and Withdraws it
TRIVANDRUM APOLLO: CRISIL Withdraws B Rating on INR12.26cr Loan
VJ GOTE: CRISIL Migrates B+ Debt Ratings to Not Cooperating
WIINTRACK EXPORTS: CRISIL Moves D Debt Ratings to Not Cooperating
N E W Z E A L A N D
CLUBS OF MARLBOROUGH: Directors to Vote on Club's Future in Oct.
S I N G A P O R E
HONTOP ENERGY: CIMB Alleges Suspicious Deals with BP
HYFLUX LTD: Gets Letter of Interest from Unilegend Investments
HYFLUX LTD: Pison Investments Makes Formal Cash Offer
HYFLUX LTD: Utico Says Still Wants to Engage in Restructuring Plan
OCEAN TANKERS: Supervisor to Start Restructuring Talks with Owners
X X X X X X X X
[*] BOND PRICING: For the Week July 6, 2020 to July 10, 2020
- - - - -
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A U S T R A L I A
=================
COLMARJ PTY: Second Creditors' Meeting Set for July 21
------------------------------------------------------
A second meeting of creditors in the proceedings of Colmarj Pty
Ltd, as trustee for the Glover's Station Unit Trust formerly
trading as Glover's Station, has been set for July 21, 2020, 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 July 19, 2020, at 5:00 p.m.
D C Quin of PCI Partners Pty Ltd was appointed as administrator of
Colmarj Pty on June 16, 2020.
GEELONG MOOD: Worrells Solvency Appointed as Administrators
-----------------------------------------------------------
Scott Andersen and Nathan Deppeler of Worrells Solvency and
Forensic Accountants on July 7, 2020, were appointed voluntary
administrators of Geelong Mood Support Group Inc, which trades as
Mind Works Geelong.
Mind Works Geelong's history dates back to 1989. Today it is a
National Disability Insurance Agency (NDIA) registered provider and
an established Mutual Support & Self Help (MSSH) organisation
helping members, friends and families who have experienced mental
health uncertainty. Its services support approximately 150 members
in the Geelong and surrounding communities.
Mind Works Geelong's premises, including its drop-in centre, are
located on LaTrobe Terrace, Newtown. Mind Works Geelong employs
approximately 30 people who are mostly casuals.
The organisation remains open and all staff are continuing to work
in their normal capacity.
Mr. Andersen said, "The board of management committee made the
difficult decision to appoint voluntary administrators in the face
of a number of internal and external pressures. An external
administrator is best placed to effectively and efficiently address
issues, and restructure the organisation to evolve in its mission
to assist people.
Compounding the ongoing challenges is the impact and influence of
COVID-19 restrictions. This time of incredible uncertainty and
stress inherently impacts the mental health system and raises the
critical importance of the incredible support services available,
such as Mind Works Geelong gives."
Worrells appreciates and understands the impact the appointment
will have on all stakeholders and the community as a whole.
Worrells advises the administration is in its infancy and its teams
are working hard to assess and determine all aspects of the
business position and operations.
Mr. Andersen said, "We are currently reviewing all aspects of Mind
Works business with the view to restructure the organisation and
its operations to underpin a long-term future."
Members, creditors, and concerned parties are invited to email
geelong@worrells.net.au and lodge a proof of debt via the Worrells
website www.worrells.net.au.
MARTAR PTY: Second Creditors' Meeting Set for July 21
-----------------------------------------------------
A second meeting of creditors in the proceedings of Martar Pty Ltd
ATF The Martar Family Trust and Quinmar Pty Ltd ATF Tarquinio
Family Trust, has been set for July 21, 2020, at 11:00 a.m. at the
offices of Hamilton Murphy Advisory Pty Ltd, Level 1, at 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 July 20, 2020, at 4:00 p.m.
Richard Rohrt of Hamilton Murphy was appointed as administrators of
Martar Pty on June 16, 2020.
STELLER 107: Second Creditors' Meeting Set for July 22
------------------------------------------------------
A second meeting of creditors in the proceedings of Steller 107 Pty
Ltd (As Trustee For "Steller 107") has been set for July 22, 2020,
at 10:00 a.m. The meeting will instead be held virtually using
telephone conference facilities.
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 July 21, 2020, at 5:00 p.m.
Timothy James Brace, Michael Carrafa and Peter Gountzos of SV
Partners were appointed as administrators of Steller 107 on Sept.
20, 2019.
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C H I N A
=========
CIFI HOLDINGS: S&P Assigns BB- Rating to New USD Sr. Unsec. Notes
-----------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' long-term issue rating to the
U.S.-dollar-denominated senior unsecured notes that CIFI Holdings
(Group) Co. Ltd. proposes to issue. The China-based property
developer intends to use the proceeds to refinance its existing
debt, in accordance with its green bond framework. The issue rating
is subject to our review of the final issuance documentation.
S&P said, "We rate the notes one notch below the issuer credit
rating on CIFI (BB/Stable/--) to reflect subordination risk. As of
Dec. 31, 2019, CIFI's capital structure consists of Chinese
renminbi (RMB) 47.6 billion of secured debt and RMB25.2 billion of
subsidiary-level unsecured debt and guarantees. Priority debt is
RMB72.8 billion out of total debt of RMB121 billion, and the ratio
of priority debt to total debt is about 60%, above our threshold of
50% for notching down an issue rating.
"We expect CIFI will continue to expand its sales scale at a
moderate pace with controlled debt growth. We estimate the
company's consolidated debt-to-EBITDA ratio will be lower at
5.5x-6.0x, with the see-through (or proportionately consolidated)
ratio at around 5.0x over the next 12-18 months."
CIFI's contracted sales have started to recover from the COVID-19
outbreak with second quarter sales up 8% year-on-year, versus a 35%
decline in the first quarter of the year. The company's total
first-half contracted sales were RMB81 billion, only down 9%
year-on-year.
JOWAY HEALTH: March 31 Quarter Results Cast Going Concern Doubt
---------------------------------------------------------------
Joway Health Industries Group Inc. filed its quarterly report on
Form 10-Q, disclosing a net loss of $337,429 on $14,216 of revenues
for the three months ended March 31, 2020, compared to a net loss
of $371,497 on $138,871 of revenues for the same period in 2019.
At March 31, 2020, the Company had total assets of $4,385,011,
total liabilities of $1,808,498, and $2,576,513 in total
stockholders' equity.
Joway Health said, "The Company has an accumulated deficit of
approximately $5,601,000 and a working capital deficit of
approximately $1,088,000 at March 31, 2020. In addition, the
Company continues to generate operating losses and negative cash
flows from operations. This raises substantial doubt about the
Company's ability to continue as a going concern. The ability of
the Company to continue as a going concern is dependent on the
Company's ability to raise additional capital."
A copy of the Form 10-Q is available at:
https://is.gd/HkaBz2
Joway Health Industries Group Inc., through its subsidiaries,
manufactures, distributes, and sells tourmaline-related healthcare
products. The company operates in three segments: Healthcare Knit
Goods, Daily Healthcare and Personal Care Products, and Wellness
House and Activated Water Machine Products. It offers healthcare
knit goods, including tourmaline treated mattresses, bed linen,
underwear, pillows, and shirts; daily healthcare and personal care
products, such as tourmaline-treated waist protectors, knee
protectors, scarves, shampoo and soap products, toothpaste, and
fish oil soft gel; and wellness house and activated water machine
products comprising tourmaline wellness houses, foot sauna buckets,
and tourmaline activated water machines and drinking mugs. The
company markets and sells its products through a network of
franchise stores. The company was formerly known as G2 Ventures,
Inc. The company was founded in 2003 and is based in Tianjin, the
People's Republic of China. Joway Health Industries Group Inc. is a
subsidiary of Crystal Globe Limited.
RESORT SAVERS: Has $318,000 Net Loss for Quarter Ended March 31
---------------------------------------------------------------
Resort Savers, Inc. filed its quarterly report on Form 10-Q,
disclosing a net loss of $318,250 on $925,657 of revenue for the
three months ended March 31, 2020, compared to a net income of
$271,489 on $14,781,045 of revenue for the same period in 2019.
At March 31, 2020, the Company had total assets of $12,352,627,
total liabilities of $2,755,930, and $9,596,697 in total
shareholders' equity.
Resort Savers said, "The Company has not yet had sufficient
revenues to cover its operating cost, and requires additional
capital to commence its operating plan. The ability of the Company
to continue as a going concern is dependent on the Company
obtaining adequate capital to fund operating losses until it
becomes profitable. If the Company is unable to obtain adequate
capital, it could be forced to cease operations. These factors
raise substantial doubt about its ability to continue as a going
concern.
"In order to continue as a going concern, the Company will need,
among other things, additional capital resources. Management's
plan to obtain such resources for the Company include: sales of
equity instruments; traditional financing, such as loans; and
obtaining capital from management and significant stockholders
sufficient to meet its minimal operating expenses. However,
management cannot provide any assurance that the Company will be
successful in accomplishing any of its plans.
"There is no assurance that the Company will be able to obtain
sufficient additional funds when needed or that such funds, if
available, will be obtainable on terms satisfactory to the Company.
In addition, profitability will ultimately depend upon the level
of revenues received from business operations. However, there is
no assurance that the Company will attain profitability."
A copy of the Form 10-Q is available at:
https://is.gd/ztecHX
Resort Savers, Inc. trades in oil, gas, and lubricant products in
the People's Republic of China. It also provides nutrition
consultancy services and training, as well as sells health products
through an online store. The company is based in Puchong,
Malaysia.
TAHOE GROUP: Moody's Downgrades CFR to Caa3, Outlook Negative
-------------------------------------------------------------
Moody's Investors Service has downgraded the corporate family
rating of Tahoe Group Co., Ltd to Caa3 from Caa1.
At the same time, Moody's has downgraded to Ca from Caa2 the backed
senior unsecured rating on the notes issued by Tahoe Group Global
(Co.) Limited and unconditionally and irrevocably guaranteed by
Tahoe.
The outlook on the ratings remains negative.
RATINGS RATIONALE
"The downgrade reflects Tahoe's tightening liquidity position and
elevated refinancing risk, given its sizeable upcoming debt
maturities and operating challenges over the next 12-18 months,"
says Danny Chan, a Moody's Assistant Vice President and Analyst.
Tahoe missed payments of the principal and interest of its domestic
MTN bonds worth RMB1.6 billion ($230 million) due 6 July 2020. The
missed payments will likely result in financial losses for its
noteholders, and could also trigger payment acceleration of its USD
bonds if the company fails to rectify the missed payments within
the grace period.
Moody's estimates Tahoe's debt repayment risk remains elevated as
it will need to address a large amount of upcoming maturities.
The missed payments highlight the severe challenges facing Tahoe
because of its weak access to funding and its weak liquidity
stemming from the material amount of debt maturities over the next
12-18 months. Furthermore, weakening property sales over the past
6-12 month have strained the company's cash flow. Its contracted
sales declined to about RMB24.8 billion for the first six months of
2020, a significant drop of 44% from the corresponding period in
2019.
Tahoe's Caa3 CFR reflects its high refinancing risk, because of its
weak liquidity and the growing uncertainty over its ability to
refinance maturing debt over the next 12-18 months.
On the other hand, Tahoe's CFR considers its land bank across major
cities in China and moderate operating scale with multiple product
offerings.
The negative outlook reflects Moody's concerns over the company's
tight liquidity and ability to arrange funding on time to meet its
obligations.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
An upgrade is unlikely in the near term, given the negative
outlook. A positive rating action could be considered if the
company makes significant progress on servicing its debt
obligations and improves its liquidity.
Moody's could downgrade the ratings if financial losses for its
noteholders are likely to increase.
The principal methodology used in these ratings was Homebuilding
and Property Development Industry published in January 2018.
Tahoe Group Co., Ltd listed on the Shenzhen Stock Exchange in 2010.
The company commenced its first residential property project in
Fuzhou in Fujian Province in 1996. Its operations are mainly
focused on residential property development, and it is also engaged
in commercial property development.
[*] CHINA: Aviation Industry Suffers US$4.9BB Loss in Q2
--------------------------------------------------------
Reuters reports that China's aviation industry sank further into
the red, losing CNY34.25 billion ($4.89 billion) in the second
quarter, only slightly narrower than in the first quarter,
underlining the colossal financial impact from the coronavirus
pandemic.
In the first quarter the industry, which includes airlines,
airports and other aviation companies, lost CNY38.1 billion,
according to data released by the Civil Aviation Administration of
China (CAAC) on July 10, Reuters relays.
According to Reuters, China's aviation industry has been recovering
faster than most countries emerging from the COVID lockdowns,
underpinned by a steady recovery in the domestic travel market
after the epidemic was largely brought under control.
But passenger numbers showed the sector is still way below
pre-COVID-19 levels, according to the latest official data cited by
Reuters. June passenger numbers fell 42.4% from a year earlier to
30.74 million, the CAAC said, although that was better than a 52.6%
decline in May.
In the first half this year, total passenger numbers dropped by
45.8% from a year ago.
To boost cashflows, a few Chinese airlines have recently rolled out
discount passes that would allow passengers unlimited domestic
travel with few restrictions, Reuters states. China Eastern
Airlines is the first in June to sell "fly at will" flight passes
for unlimited weekend domestic travel until the end of the year,
adds Reuters.
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I N D I A
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AGRAWAL SOYA: CRISIL Withdraws B+ Rating on INR7cr Cash Loan
------------------------------------------------------------
CRISIL has withdrawn its rating on the bank facilities of Agrawal
Soya Extracts Private Limited (ASEPL) on the request of the
company.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 7 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Migrated from
'CRISIL B+/Stable'; Rating
Withdrawn)
Proposed Long Term 1.84 CRISIL B+/Stable (ISSUER NOT
Bank Loan Facility COOPERATING; Migrated from
'CRISIL B+/Stable'; Rating
Withdrawn)
Term Loan 3.16 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Migrated from
'CRISIL B+/Stable'; Rating
Withdrawn)
CRISIL has been consistently following up with ASEPL for obtaining
information through letters and emails dated June 18, 2020 and June
25, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of ASEPL. This restricts CRISIL's
ability to take a forward looking view on the credit quality of the
entity. CRISIL believes that rating action on ASEPL is consistent
with 'Assessing Information Adequacy Risk'. CRISIL has migrated the
ratings on the bank facilities of ASEPL to 'CRISIL B+/Stable Issuer
not cooperating'.
CRISIL has withdrawn its rating on the bank facilities of ASEPL on
the request of the company and after receiving no objection
certificate from the bank. The rating action is in-line with
CRISIL's policy on withdrawal of its rating on bank loan
facilities.
ASEPL incorporated in April 2013 by Mr. Deepak Sinhal and the daily
operations are managed by Mr. Deepak Sinhal and Mr. Gopal Sinhal.
The company manufactures soya bean oil and soya de-oiled cake
(DOC), in Neemuch, Madhya Pradesh.
AMTEK AUTO: NCLT Approves Resolution Plan Submitted by DVIL
-----------------------------------------------------------
The Economic Times reports that the National Company Law Tribunal
(NCLT) approved the resolution plan for bankrupt firm Amtek Auto,
submitted by US-based hedge fund Deccan Value Investors LP (DVIL)
on July 9.
This brought to a close the three-year old case after the Supreme
Court (SC) in June, refused to give more time for DVIL to assess
the impact of the economic contraction caused by the pandemic, the
report says.
A two-judge bench headed by Justice Ajay Kumar Vatsavayi passed the
order, which as per the law, provides DVIL with 30 days to complete
the payments, according to ET.
In February, lenders of Amtek Auto agreed to take an 80% haircut on
the amount the bankrupt firm owed them by voting in favor of DVIL's
INR2,700 crore resolution plan, ET recalls.
The auto parts maker owed the IDBI and State Bank of India-led
Committee of Creditors (CoC) a total of INR12,700 crore.
In its order, the Chandigarh bench of the NCLT also provided for an
implementation and monitoring committee to oversee the
implementation of the resolution plan, the report says.
"It is stated therein that from the NCLT approval date, an
implementation and monitoring committee comprising of 5 persons of
which one will be Mr. Dinkar T. Venkatasubramanian, three will be
nominated by the key lenders, and one will be a nominee of the
resolution applicants, to be constituted and the said committee
shall continue to function until the effective date and shall stand
dissolved upon acquisition of the corporate debtor by the
resolution applicants," the order, as cited by ET, said.
According to ET, DVIL was the second successful bidder for Amtek
Auto, after UK-based Liberty House Group (LHG) failed to make the
requisite payments in July 2018 post the approval of its resolution
plan.
Amtek Auto almost went into liquidation when the Sanjeev Gupta-led
LHG was unable to make good on its INR4,800 crore bid, the report
says.
ET relates that DVIL had made a INR3,150 crore bid during the July
2018 round, but lowered it after the SC allowed a fresh round of
bidding after the National Company Law Appellate Tribunal's (NCLAT)
February 2019 order for liquidation of the bankrupt firm.
As per the latest resolution plan, Amtek's lenders will not be
getting paid immediately since apart from the INR500 crore cash, it
includes INR1,800 crore in future receivables which assumes
recovery from tax refunds, sale of non-core real estate and other
assets of the company, ET states. DVIL also offered INR300 crore
from optionally convertible debentures (OCDs) payable over seven
years.
About Amtek Auto
Based in India, Amtek Auto Limited
(BOM:520077)--http://www.amtek.com/aal.php--engagesin automotive
components manufacturing and commercial sales. The Company is
engaged in forging, grey and ductile iron casting, gravity and high
pressure aluminum die casting and machining and sub-assembly. It
has a product portfolio with a range of engineered components,
including flywheel ring gears, machining, forging, casting aluminum
and casting iron. The Company supplies components for passenger
cars, light and heavy commercial vehicles, 2/3 wheelers, light
weight commercial vehicles and heavy weight commercial vehicles.
The Company has facilities across India, the United Kingdom,
Germany, Brazil, Italy, Mexico, Hungary and the United States. The
Company also manufactures components for non-auto sectors, such as
the railways, specialty vehicles, aerospace, agricultural and heavy
earth moving equipment.
In July 2017, NCLT had admitted insolvency proceedings for Amtek
Auto initiated by a consortium of banks led by Corporation Bank.
Venkatsubramanian was appointed by the Committee of Creditors as
the resolution professional for the case in August 2017.
Amtek was featured on the first list of 12 companies that were
referred by the RBI for initiating insolvency process in 2017.
ANUGRAH STOCK: CRISIL Lowers Rating on INR14cr Loan to B+
---------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Anugrah Stock
And Broking Private Limited (Anugrah) to 'CRISIL B+/Stable/CRISIL
A4 Issuer Not Cooperating' from 'CRISIL BB-/Stable/CRISIL A4+
Issuer Not Cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Bank Guarantee 11 CRISIL A4 (ISSUER NOT
COOPERATING; Revised from
'CRISIL A4+ ISSUER NOT
COOPERATING')
Overdraft 14 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Revised from
'CRISIL BB-/Stable ISSUER NOT
COOPERATING')
CRISIL has been consistently following up with Anugrah for
obtaining information through letters and emails dated December 31,
2019 and May 30, 2020 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of Anugrah, which restricts
CRISIL's ability to take a forward looking view on the entity's
credit quality. CRISIL believes that rating action on Anugrah is
consistent with 'Assessing Information Adequacy Risk'. Based on the
last available information, the ratings on bank facilities of
Anugrah revised to 'CRISIL B+/Stable/CRISIL A4 Issuer Not
Cooperating' from 'CRISIL BB-/Stable/CRISIL A4+ Issuer Not
Cooperating'.
Anugrah, incorporated in 1996, undertakes retail equity broking.
The Mumbai based company operates through five branches and 300
franchises. The margin financing business is carried out through a
promoter-related company. Mr. Paresh Kariya is the promoter.
ATITHYA INN: Ind-Ra Lowers Long Term Issuer Rating to BB+
---------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Atithya Inn
Private Limited's (AIPL) Long-Term Issuer Rating to 'IND BB+' from
'IND BBB-' and simultaneously placed it on Rating Watch Negative
(RWN). The Outlook was Stable.
The instrument-wise rating actions are:
-- INR960 mil. Term loan due on September 2033 downgraded and
placed on RWN with IND BB+/RWN;
-- INR40 mil. Fund-based limits downgraded and placed on RWN with
IND BB+/RWN; and
-- INR70 mil. Bank guarantee downgraded and placed on RWN with
IND A4+/RWN.
The RWN reflects the uncertainty surrounding AIPL's operational
recovery owing to the COVID-19 led lockdown. The company has
informed the agency that it may opt for restructuring of its bank
loans to improve it near-term cash flows, which have been adversely
affected by the lockdown. Ind-Ra believes the timely refinancing of
AIPL's bank loans will positively impact the company's near-term
cash flows. Ind-Ra shall continue to monitor the situation and its
resultant impact on AIPL's liquidity and financial position.
KEY RATING DRIVERS
The downgrade reflects a decline in AIPL's occupancy levels to 45%
in January-April 2020 (January-December 2019: 72.1%) due to the
outbreak of COVID-19 and the subsequent lockdown. AIPL's occupancy
declined to 30% due to cancellations in March 2020.
The ratings are constrained by AIPL's continued medium scale of
operations, as reflected by revenue of INR395 million in FY20
(FY19: INR403 million). The revenue declined due to lower occupancy
levels and resultantly, AIPL's EBITDA margins also contracted to
24.5% in FY20 (FY19: 30.8%). FY20 financials are provisional in
nature. Ind-Ra expects AIPL's revenue and EBITDA to witness a
substantial decline in FY21 owing to the COVID-19 pandemic and
subsequent lockdown. AIPL's operations continued running at less
than 30% occupancy level in 1QFY21, and any further decline in the
revenue will defer the company's fixed-cost recovery, thereby
impacting its EBITDA adversely.
The ratings also factor in AIPL's weak credit metrics, as reflected
by gross interest coverage (operating EBITDA/gross interest
expense) of 1.1x in FY20 (FY19: 1.5x) and net leverage (total
adjusted net debt/operating EBITDA) of 9.4x (7.3x). The company's
credit metrics deteriorated due to a decline in EBITDA to INR97
million in FY20 (FY19: INR124 million). Ind-Ra expects AIPL's
credit metrics to remain weak in FY21 as the hotel sector is likely
to have an uncertain recovery path and the timely refinancing of
loans will be a key monitorable.
Liquidity Indicator - Poor: AIPL's debt service coverage ratio
deteriorated to 1.0x in FY20 (FY19: 1.3x) due to a decline in the
absolute EBITDA. The average peak utilization of fund-based limits
was 99.9% and non-fund-based limits was 86.1% in the 12 months
ended May 2020. The cash flow from operations deteriorated to INR5
million in FY20 (FY19: INR59 million) and free cash flow continued
being negative at INR70 million (negative INR66 million) due to the
operational capex incurred. The company's working capital days also
elongated to 16 in FY20 (FY19: negative 10 days). The cash and cash
equivalents at FYE20 were INR17.96 million (FYE19: INR29.9
million). The company has opted for the debt moratorium allowed by
the Reserve Bank of India till August 2020.
The ratings, however, are supported by the promoters' over three
decades of experience. Ind-Ra also believes that once the negative
impact of the COVID-19 pandemic subsides, AIPL's operations may
recover rapidly. AIPL is operated by Novotel (Accor Group) and the
company will be benefited from the management's expertise and its
access to online reservation systems and marketing strategies of
these global brands.
RATING SENSITIVITIES
The RWN indicates that rating may be either affirmed or downgraded.
Ind-Ra shall resolve the RWN by October 2020 once the agency
receives clarity on the expected refinancing and/or restructuring
of bank loans on the company's financial and liquidity profile
along with the financial support available from the promoters as
well as improvement in occupancy levels.
COMPANY PROFILE
AIPL was incorporated as a joint venture between Kanakia Hotels and
Resorts Private Limited and Nupur SA Investments LLC. Kanakia
Hotels and Resorts is the hospitality arm of the Kanakia Group.
Nupur SA Investments LLC has been established by SUN Apollo India
Real Estate Fund LLC. During FY19, the Kanakia Group purchased
stake of Nupur SA (47%) and now the entire stake of AIPL is with
the Kanakia Group.
AIPL is the second hotel project, located at Ahmedabad (Gujarat) of
the Kanakia Group. The hotel started its operations in November
2013 with 184 keys and is operated by Novotel (Accor Group). The
hotel consists of a food & beverages area, a banquet, meeting
rooms, a fitness room and a spa.
BALAMURUGAN MODERN: CRISIL Assigns B Rating to INR16.5cr Loan
-------------------------------------------------------------
CRISIL has revoked the suspension of its rating on the bank
facilities of Sri Balamurugan Modern Rice Mill (SBMRM) and has
assigned its 'CRISIL B/Stable' rating to the bank facilities of
SBMRM. CRISIL had suspended the ratings on December 29th 2015 on
account of non-cooperation by SBMRM with CRISIL efforts to
undertake are view of the ratings. SBMRM has now shared the
requisite information enabling CRISIL to assign its ratings.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 16.5 CRISIL B/Stable (Assigned;
Suspension Revoked)
The rating reflects SBMRM's modest scale of operations and below
average financial profile. These weaknesses are partially offset by
its extensive industry experience of the partners.
Key Rating Drivers & Detailed Description
Weakness
* Modest scale of operation and intense competition: SBMRM's
business profile is constrained by its scale of operations in the
intensely competitive rice milling industry. The firm's revenue
increased to INR46 Cr. in FY20 from INR43 crore in the previous
fiscal however, remained modest. The rice milling industry is also
fragmented on account of its limited capital intensity resulting in
low entry barriers. The small scale of operations constrains the
firm from benefits accruing from economies of scale.
* Below average financial profile: SBMRM has average financial
profile marked by high total outside liabilities to tangible
networth (TOL/TNW) of over 3 times for last three year ending on
31st March 2020. SBMRM's debt protection measures have also been
at weak. The interest coverage and net cash accrual to total debt
(NCATD) ratio are at 1.35 times and 0.02 times for fiscal 2020.
Strength
* Extensive industry experience of the partners: The partners have
an experience of over more than 3 decades rice milling industry.
This has given them an understanding of the dynamics of the market,
and enabled them to establish relationships with suppliers and
customers.
Liquidity Stretched
Liquidity is stretched marked by insufficient cash accruals of
about INR6-13 lacs against repayment obligations of INR56-70 lacs
over the medium term. Bank limit remained utilized at an average of
84% for past 12 months ended March, 2020. The need-based support of
promoters will remain key monitorable.
Outlook: Stable
CRISIL believe SBMRM will continue to benefit from the extensive
experience of its promoter.
Rating Sensitivity factors
Upward Factor
* Sustained and significant increase in revenue and operating
margins resulting in cash accruals of INR1 Crore
* Sustained improvement in financial risk profile.
Downward Factor
* Significant deterioration in financial metrics and liquidity
* Stretched working capital cycle with GCA over 250 days.
SBMRM was established as partnership firm in 1991. It is engaged in
processing and milling of rice. Its manufacturing unit located in
Thiruvannamalai district of TamilNadu. It is owned by Mr. A.Mani, M
Kodiyarasi, M. Sathish Kumar and P. Vidhya.
BHARATH LAJHNA: CRISIL Migrates B CCR to Issuer Not Cooperating
---------------------------------------------------------------
CRISIL has migrated the corporate credit rating on Bharath Lajhna
Multi State Housing Co-operative Society Limited (BLM) to 'CCR
B/Stable Issuer Not Cooperating'.
CRISIL has been consistently following up with BLM and has sought
information, via letters dated April 13, 2020, and May 27, 2020;
apart from telephonic communication. However, the issuer has
remained non-cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component'.
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL has
not received any information on either BLM's financial performance
or its strategic intent. This restricts CRISIL's ability to take a
forward-looking view on the entity's credit quality. CRISIL
believes information available on BLM is consistent with 'Scenario
1' outlined in the 'Framework for Assessing Consistency of
Information with CRISIL BB Rating category or lower'.
Therefore, on account of inadequate information and lack of
management cooperation, CRISIL has migrated the corporate credit
rating on BLM to 'CCR B/Stable Issuer Not Cooperating'.
BLM is a multi-state housing co-operative society, which develops
land plots for residential, commercial and other business segments,
in Tamil Nadu, Kerala and Pondicherry.
The society commenced operations in Chennai in February 2006, by
undertaking property development for residential, commercial,
retail and hospitality sectors in South India. It is engaged in
various aspects such as land identification and acquisition,
project planning, designing, marketing and execution.
DHANRAJ COTTON: CRISIL Withdraws B Rating on INR7.88cr Loans
------------------------------------------------------------
CRISIL has withdrawn its rating on the bank facilities of Dhanraj
Cotton Industries - Mehsana (DCI) on the request of the company.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 5 CRISIL B/Stable (ISSUER NOT
COOPERATING; Migrated from
'CRISIL B/Stable'; Rating
Withdrawn)
Term Loan 2.88 CRISIL B/Stable (ISSUER NOT
COOPERATING; Migrated from
'CRISIL B/Stable'; Rating
Withdrawn)
CRISIL has been consistently following up with DCI for obtaining
information through letters and emails dated June 18, 2020 and June
25, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of DCI. This restricts CRISIL's
ability to take a forward looking view on the credit quality of the
entity. CRISIL believes that rating action on DCI is consistent
with 'Assessing Information Adequacy Risk'. CRISIL has migrated the
ratings on the bank facilities of DCI to 'CRISIL B/Stable Issuer
not cooperating'.
CRISIL has withdrawn its rating on the bank facilities of DCI on
the request of the company and after receiving no objection
certificate from the bank. The rating action is in-line with
CRISIL's policy on withdrawal of its rating on bank loan
facilities.
Incorporated in 2014, DCI is a partnership firm based at Mehsana,
Gujarat. The firm gins and presses cotton, and commenced operations
in December 2014.
GAURAV BHARTI: CRISIL Migrates D Debt Ratings to Not Cooperating
----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Gaurav Bharti
Shiksha Sansthan (GBSS) to 'CRISIL D Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Term Loan 10 CRISIL D (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with GBSS for obtaining
information through letters and emails dated June 19, 2020 and June
25, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of GBSS, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on GBSS is consistent
with 'Assessing Information Adequacy Risk'. Therefore, on account
of inadequate information and lack of management cooperation,
CRISIL has migrated the rating on bank facilities of GBSS to
'CRISIL D Issuer not cooperating'.
GBSS was established in 1994 by Mr. S Gurcharan Singh. The trust
runs the Sardar Bhagwan Singh (PG) Institute of Biomedical Sciences
& Research. The institute, recognized by the All India Council of
Technical Education, is located at Balawala, Dehradun
(Uttarakhand). The trust has also opened an engineering college in
FY16.
H AND J MALL: CRISIL Withdraws D Rating on INR10cr Loans
--------------------------------------------------------
CRISIL has withdrawn its rating on the bank facilities of H and J
Mall (HJM) on the request of the company.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Proposed Long .97 CRISIL D (ISSUER NOT COOPERATING;
Term Bank Rating Withdrawn)
Loan Facility
Term Loan 9.03 CRISIL D (ISSUER NOT COOPERATING;
Rating Withdrawn)
CRISIL has been consistently following up with HJM for obtaining
information through letters and emails dated April 29, 2020 and May
29, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of HJM. This restricts CRISIL's
ability to take a forward looking view on the credit quality of the
entity. CRISIL believes that rating action on HJM is consistent
with 'Assessing Information Adequacy Risk'. CRISIL has migrated the
ratings on the bank facilities of HJM to 'CRISIL D Issuer not
cooperating'.
CRISIL has withdrawn its rating on the bank facilities of HJM on
the request of the company and after receiving no objection
certificate from the bank. The rating action is in-line with
CRISIL's policy on withdrawal of its rating on bank loan
facilities.
H&J Mall is the first ever shopping mall in Karungapally, Kollam
District, Kerala with 10 floors encompassing a total area of 1.2
lakhs square feet. The project construction started in 2011 and was
operational in 2015. The firm is promoted by Mr. Hameed Kunju who
has a successful track record of managing business in Botswana,
Africa, with more than 25 years of business experience.
J. Y. INTERNATIONAL: CRISIL Withdraws D Rating on INR14.5cr Loan
----------------------------------------------------------------
CRISIL has withdrawn its rating on the bank facilities of J. Y.
International (JYI) on the request of the company:
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 14.5 CRISIL D (ISSUER NOT COOPERATING;
Migrated from 'CRISIL D'; Rating
Withdrawn)
Export Packing
Credit 6.0 CRISIL D (ISSUER NOT COOPERATING;
Migrated from 'CRISIL D'; Rating
Withdrawn)
Term Loan 0.5 CRISIL D (ISSUER NOT COOPERATING;
Migrated from 'CRISIL D'; Rating
Withdrawn)
CRISIL has been consistently following up with JYI for obtaining
information through letters and emails dated June 18, 2020 and June
25, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of JYI. This restricts CRISIL's
ability to take a forward looking view on the credit quality of the
entity. CRISIL believes that rating action on JYI is consistent
with 'Assessing Information Adequacy Risk'. CRISIL has migrated the
ratings on the bank facilities of JYI to 'CRISIL D Issuer not
cooperating'.
CRISIL has withdrawn its rating on the bank facilities of JYI on
the request of the company and after receiving no objection
certificate from the bank. The rating action is in-line with
CRISIL's policy on withdrawal of its rating on bank loan
facilities.
JYI was established in 2004. Currently, Mr. Mehul Parekh and his
wife, Mrs Yogini Parekh, are the partners. The firm manufactures
stainless steel kitchen ware at its facility in Vasai, Maharashtra.
JAWAHAR SHETKARI: CRISIL Raises Rating on INR40cr Cash Loan to B-
-----------------------------------------------------------------
CRISIL has upgraded its ratings on the bank facilities of Jawahar
Shetkari Sahakari Soot Girni Ltd (JSSSGL) to 'CRISIL
B-/Stable/CRISIL A4' from 'CRISIL D/CRISIL D'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Bank Guarantee 6.03 CRISIL A4 (Upgraded from
'CRISIL D')
Cash Credit 40.00 CRISIL B-/Stable (Upgraded
from 'CRISIL D')
Letter of Credit 8.00 CRISIL A4 (Upgraded from
'CRISIL D')
Proposed Long Term 2.17 CRISIL B-/Stable (Upgraded
Bank Loan Facility from 'CRISIL D')
Upgrade in ratings reflect the track record of timely payment of
all debt obligations in at least last three months. This was on
account of adequate cash flow generation in fiscal 2020, owing to
improvement in operating profitability.
The ratings continue to reflect JSSSGL's weak debt protection
metrics, large working capital requirement and susceptibility to
intense competition and volatility in cotton prices. These
weaknesses are partially offset by established market position in
the cotton yarn business and comfortable capital structure.
Key Rating Drivers & Detailed Description
Weaknesses:
* Weak financial risk profile: Debt protection metrics were weak
reflected in interest coverage and net cash accruals to adjusted
debt (NCATD) of 1.36 time and 0.05 time, respectively in fiscal
2020. This was mainly on account of losses recorded in the past,
leading to lower accruals.
* Large working capital requirement: Operations are working capital
intensive, reflected in gross current assets (GCAs) of 580 days,
which was mainly on account of the seasonal availability of cotton
and hence the requirement to hold high inventory of 2-3 months. The
society gets limited credit on procurement and funds the inventory
largely by bank debt. Receivables' cycle has also been elongated
reflected in debtor days of 176 days as on March 31, 2020 due to
delays in payments. Thus, CRISIL believes the overall working
capital requirement to remain at similar levels over the medium
term.
* Susceptibility to intense competition and volatility in cotton
prices: Intense competition may continue to restrict scalability of
operations, and limit the pricing power with suppliers and
customers, thereby constraining profitability. Prices of cotton are
volatile as its availability depends on the extent of rainfall.
Cotton prices are also affected by change in international demand.
Moreover, with the breakout of Covid-19 pandemic, and subsequent
lockdown, which has led to the slowdown in the demand, the business
risk profile of the society is expected to remain constrained over
near term.
Strengths:
* Established market position in the cotton yarn business: The
society is one of the leading cotton spinning mills in
Maharashtra's co-operative sector with a track record of 38 years.
It has developed long-standing relationship with customers and
suppliers, which should continue to support the business.
* Comfortable financial risk profile: The society's capital
structure has improved as on Mar 31, 2020, reflected in networth of
INR108.16 crore, gearing of 1.01 time and total outside liabilities
to adjusted networth of (TOLANW) of 1.13 time (1.65 time and 2.21
times, respectively). The improvement in financial risk profile was
backed by increased profitability and infusion of funds by National
Cooperative Development Corporation in the form of capital subsidy.
Thus, the financial risk profile is likely to remain at similar
level over the near term on account of no major debt funded capex
and moderate networth.
Liquidity Poor
Expected annual cash accrual of INR3-6 crore in fiscals 2021 and
2022 will be tightly matched against repayment obligations of
INR7.0 crore in fiscal 2022. The fund-based bank limits of INR40
crore have been highly utilised at 95-100 per cent for the 12
months through May 2020. Cash and equivalent was INR1.28 crore as
on March 31, 2020. Since the society has availed for the moratorium
on interest payments and principle repayments of term debt till
August, 2020 as a part of RBI's Covid-19 fund relief measures,
which has provided comfort in the liquidity. CRISIL believes that
an improvement in cash accruals and enhancement in bank lines to
meet the repayment obligations and manage the working capital cycle
shall remain key monitorable factor for the credit over the near
term.
Outlook: Stable
CRISIL believes JSSSGL will continue to benefit from the extensive
experience of its trustees, and established relationships with
clients.
Rating Sensitivity factors
Upward factors
* Increase in revenue and sustenance of profitability, leading to
cash accrual of more than INR8 crore
* Improvement in working capital cycle, with gross current assets
of less than 200 days leading to lower utilisation of working
capital limit
Downward factors
* Decline in revenue and profitability, leading to cash accrual of
less than INR2 crore
* Stretch in working capital cycle weakens the financial risk
profile, especially liquidity
JSSSGL was set up in 1981 as a co-operative society by Mr. Rohidas
Patil and other members. The society manufactures cotton yarn of
24s to 42s counts, in Dhule, Maharashtra.
KUMAR FEEDS: CRISIL Migrates B Debt Ratings to Not Cooperating
--------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Kumar Feeds
And Biotech Private Limited (KFBPL) to 'CRISIL B/Stable Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Proposed Long Term 3.78 CRISIL B/Stable (ISSUER NOT
Bank Loan Facility COOPERATING; Rating Migrated)
Term Loan 4.22 CRISIL B/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Working Capital 2.00 CRISIL B/Stable (ISSUER NOT
Facility COOPERATING; Rating Migrated)
CRISIL has been consistently following up with KFBPL for obtaining
information through letters and emails dated June 12, 2020 and June
17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of KFBPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on KFBPL is consistent
with 'Assessing Information Adequacy Risk'. Therefore, on account
of inadequate information and lack of management cooperation,
CRISIL has migrated the rating on bank facilities of KFBPL to
'CRISIL B/Stable Issuer not cooperating'.
KFBPL, which was incorporated in 2015, manufactures poultry feeds
and allied products. Operations are managed by Mr. Ajay Kumar and
Mr. Uday Kumar. The company has a manufacturing capacity of 200
tonnes/per day.
LEEWAY LOGISTICS: CRISIL Keeps D Debt Ratings to Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Leeway
Logistics Limited (Leeway) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 153.25 CRISIL D (ISSUER NOT COOPERATING)
Letter of 25 CRISIL D (ISSUER NOT COOPERATING)
Credit
Letter of credit 5.5 CRISIL D (ISSUER NOT COOPERATING)
& Bank Guarantee
Proposed Cash 26.25 CRISIL D (ISSUER NOT COOPERATING)
Credit Limit
Proposed Letter 20 CRISIL D (ISSUER NOT COOPERATING)
of Credit &
Bank Guarantee
CRISIL has been consistently following up with Leeway for obtaining
information through letters and emails dated November 30, 2019 and
May 30, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of Leeway, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on Leeway is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of Leeway
continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.
Leeway, established in March 2010, and headquartered in Mumbai, is
an integrated logistics solutions provider of end-to-end supply
chain solutions. The company also offers people-movement solutions
to corporate entities. Operations are managed by a professional
management team, headed by Mr. Sanjay Sinha, its promoter and
managing director.
M.S. LUVISH: Ind-Ra Affirms BB LT Issuer Rating
-----------------------------------------------
India Ratings and Research (Ind-Ra) has taken the following rating
actions on M.S. Luvish Infosystems Private Limited (MSLIPL):
-- Long-Term Issuer Rating affirmed with IND BB/Stable rating;
-- INR600 mil. Term loan* due on November 28, 2031 assigned with
IND BB+/Stable rating; and
-- INR600 mil. Term loan* due on November 28, 2031 affirmed with
IND BB+/Stable rating.
*Lease rental discounting (LRD) loan
RATING SENSITIVITIES
Negative: Any decline in the occupancy levels and/or delay in the
receipt of rental income leading to DSCR declining below 1.2x
and/or decrease in the debt service reserve account would be
negative for the ratings.
Positive: A higher-than-expected rental income leading to higher
cash generation and/or a substantial decline in the debt
subsequently leading to strong improvement in the DSCR would be
positive for the ratings.
COMPANY PROFILE
M.S. Luvish Infosystems Private Limited is engaged in renting and
leasing of immovable properties. The property is located at Pune
and has total area is 228,879 sq. ft. The company has six promoters
and is a part of the Sani Group.
MANN MEDICITI: CRISIL Hikes Ratings on INR6.0cr Loans to B
----------------------------------------------------------
Due to inadequate information and in line with Securities and
Exchange Board of India guidelines, CRISIL had migrated its rating
on the long-term bank facilities of Mann Mediciti Wellness Centre
Private Limited (MMWC) to 'CRISIL D/issuer not cooperating'.
However, MMWC has subsequently shared the requisite information for
review of the rating. Consequently, CRISIL is migrating its rating
of MMWC's long-term bank facilities to 'CRISIL B/Stable' from
'CRISIL D/issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 5.8 CRISIL B/Stable (Migrated from
'CRISIL D ISSUER NOT COOPERATING')
Proposed Working 0.2 CRISIL B/Stable (Migrated from
Capital Facility 'CRISIL D ISSUER NOT COOPERATING')
The rating action factors in improvement in working capital cycle
of the company, leading to moderation in the bank lines (as there
were no overdrawal in the bank lines in past few months) and hence
improving the liquidity of the company.
The rating also reflects the modest scale of MMWC's operations and
large working capital requirement. These weaknesses are partially
offset by the extensive experience of the promoter in the medical
industry.
Key Rating Drivers & Detailed Description
Weaknesses
* Modest scale of operations: In light of the current capacity,
scale is likely to remain small over the medium term. Revenue is
estimated at a minimal INR7.24 crore in fiscal 2020.
* Large working capital requirement: The working capital cycle may
remain stretched over the medium term and hence will be closely
monitored. Gross current assets (GCAs) have been 280-360 days
during the four fiscals ended March 31, 2020; GCAs are estimated at
around 300 days as on March 31, 2020, driven by stretched
receivables of around 250 days (that include third-party
administrators such as Ex-servicemen Contributory Health Scheme
(ECHS) and Central Government Health Scheme). CRISIL believes that,
MMWC's operations will remain working capital intensive over the
medium term.
Strength
* Extensive experience of the promoter: The promoter's expertise of
over 28 years, his strong understanding of local market dynamics,
and healthy relationships with suppliers and customers should
continue to support the business.
Liquidity Stretched
Liquidity of the company is likely to remain stretched reflected in
high bank limit utilization (as bank lines are utilized at around
92% for 12 months ended 92%, with multiple instances of full
utilization). However liquidity is comforted by net cash accruals
which are expected to remain moderate in the range of INR2-2.5
crore over the medium term against no repayment obligation.
Outlook: Stable
MMWC should continue to benefit from the extensive experience of
the promoter.
Rating sensitivity factors
Upward factors
* Substantial and sustainable increase in revenue, profitability
and cash accrual
* Significant improvement in the working capital cycle, with GCAs
below 200 days
Downward factors
* Steep decline in revenue and profitability, leading to cash
accrual of less than INR1.5 crore
* Further stretch in the working capital cycle with stretch in
debtors
MMWC, incorporated in 2009 by Dr Jasbir Singh Mann, operates a
multi-specialty hospital in Jalandar, Punjab. The hospital is
empanelled with ECHS, Employee State Insurance Scheme and Food
Corporation of India.
MECHANO ENGINEERING: Ind-Ra Moves BB- LT Issuer Rating to Non-Coop.
-------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated M/s Mechano
Engineering Company's Long-Term Issuer Rating to the
non-cooperating category. The issuer did not participate in the
rating exercise despite continuous requests and follow-ups by the
agency. Therefore, investors and other users are advised to take
appropriate caution while using these ratings. The rating will now
appear as 'IND BB- (ISSUER NOT COOPERATING)' on the agency's
website.
The instrument-wise rating actions are:
-- INR45 mil. Term loan due on November 2024 migrated to non-
cooperating category with IND BB- (ISSUER NOT COOPERATING)
rating;
-- INR60 mil. Fund-based facilities migrated to non-cooperating
category with IND BB- (ISSUER NOT COOPERATING) / IND A4+
(ISSUER NOT COOPERATING) rating; and
-- INR30 mil. Non-fund-based facilities migrated to non-
cooperating category with IND A4+ (ISSUER NOT COOPERATING)
rating.
Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
July 19, 2019. Ind-Ra is unable to provide an update, as the agency
does not have adequate information to review the ratings.
COMPANY PROFILE
Established in 1983 by Mr. R Shridhar, M/s Mechano Engineering
Company is a partnership firm engaged in the manufacturing of
large, high precision components. The company's manufacturing unit
is situated in Peenya Industrial Area, Bengaluru.
NITIN FIRE: CRISIL Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Nitin
Fire Protection Industries Limited (NFPIL) continues to remain in
the 'Issuer Not Cooperating' category.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Bank Guarantee 39 CRISIL D (ISSUER NOT
COOPERATING)
Cash Credit 112.5 CRISIL D (ISSUER NOT
COOPERATING)
Letter of Credit 170 CRISIL D (ISSUER NOT
COOPERATING)
Proposed Cash 12.5 CRISIL D (ISSUER NOT
Credit Limit COOPERATING)
Proposed Letter 10 CRISIL D (ISSUER NOT
of Credit COOPERATING)
Standby Letter 106 CRISIL D (ISSUER NOT
of Credit COOPERATING)
CRISIL has been consistently following up with NFPIL for obtaining
information through letters and emails dated June 12, 2020 and June
17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of NFPIL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on NFPIL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of NFPIL
continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.
About the Group
The Nitin group is promoted by Mr. Nitin Shah and his sons, Mr.
Rahul Shah and Mr. Kunal Shah. It is an end-to-end solutions
provider for fire protection and safety equipment. It provides gas-
and water-based fire protection systems, and caters mainly to the
telecommunications, information technology, banking, and
manufacturing industries. The group manufactures and trades in
high-pressure seamless cylinders and industrial cylinders.
NFPIL, incorporated in 1995, provides fire detection and fire
suppression systems, and manufactures fire extinguishers. It
entered the United Arab Emirates (UAE) by acquiring a majority
stake in New Age Co LLC (New Age), which was an associate before
April 2010. New Age is an approved vendor for all seven emirates of
the UAE, and has a strong track record of providing fire protection
services and maintenance. The Nitin group has a presence in the
Middle East through Nitin Ventures FZE and in Singapore through
Nitin Global Pte Ltd. Eurotech Cylinders Pvt Ltd trades in
high-pressure compressed natural gas cylinders and valves and
caters mainly to the domestic market. NFPIL remains part of a
non-integrated, non-incorporated joint venture at an oil block in
Rajasthan, in which it has 11.1% equity ownership.
NOMULA BROTHERS: CRISIL Moves B Debt Ratings to Not Cooperating
---------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Sri Nomula
Brothers (SNB) to 'CRISIL B/Stable Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 7 CRISIL B/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with SNB for obtaining
information through letters and emails dated May 29, 2020, June 12,
2020 and June 17, 2020 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of SNB, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SNB is consistent
with 'Assessing Information Adequacy Risk'. Therefore, on account
of inadequate information and lack of management cooperation,
CRISIL has migrated the rating on bank facilities of SNB to 'CRISIL
B/Stable Issuer not cooperating'.
Established in 2008, SNB is engaged in ginning and trading of raw
cotton and cotton lints respectively. The firm is promoted by Mr.
Subba Rao who is currently managing the day-to-day operations. The
firm is based out of Guntur.
PRAMEELA PARBOILED: CRISIL Moves B+ Debt Ratings to Not Coop
------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Sri Prameela
Parboiled Modern Rice Mill (SPRM) to 'CRISIL B+/Stable Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 4.8 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Term Loan 1.0 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with SPRM for obtaining
information through letters and emails dated March 30, 2020 and
April 24, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of SPRM, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SPRM is consistent
with 'Assessing Information Adequacy Risk'. Therefore, on account
of inadequate information and lack of management cooperation,
CRISIL has migrated the rating on bank facilities of SPRM to
'CRISIL B+/Stable Issuer not cooperating'.
SPRM based in Huzurnagar, Telangana was established as a
partnership firm by Mr. Satyanarayana and, Mrs. Prameela as the
partners in 2010. The firm processes non-basmati rice, having an
installed paddy milling capacity of 8 tonnes per hour (tph).
PUNJABI UNIVERSITY: Ind-Ra Lowers Bank Loan Rating to BB
--------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Punjabi
University, Patiala's bank facilities to 'IND BB (ISSUER NOT
COOPERATING)' from 'IND BBB- (ISSUER NOT COOPERATING)'. The issuer
did not participate in the rating exercise despite continuous
requests and follow-ups by the agency.
The instrument-wise rating actions are:
-- INR800 mil. Working capital facility downgraded with IND BB
(Issuer Not Cooperating) rating; and
-- INR29.3 mil. Term loan due on May 2020 downgraded with IND BB
(Issuer Not Cooperating) rating.
KEY RATING DRIVERS
The downgrade is pursuant to SEBI Circular
SEBI/HO/MIRSD/CRADT/CIR/P/2020/2 dated January 3, 2020. As per
Circular any issuer having investment grade rating remains non
cooperative with rating agency for more than 6 months should be
downgraded to sub investment grade rating. Please refer agency's
website www.indiarating.co.in. Punjabi University, Patiala has been
non cooperative with the agency from 18 Feb 2019.
Current outstanding rating of IND BB(Issuer Not Cooperating) may
not reflect it's credit strength as the issuer has been non
cooperative with agency, therefore, investors and other users are
advised to take appropriate caution while using these ratings.
COMPANY PROFILE
Established by the government of Punjab in 1962, Punjabi University
offers various undergraduate, postgraduate, diploma and vocational
courses through its regional centers, neighborhood campuses,
constituent colleges and affiliated colleges. It became an
affiliating university in 1969.
RADHE BUILDSPACE: CRISIL Reaffirms B+ Rating on INR88cr LT Loan
---------------------------------------------------------------
CRISIL has reaffirmed its 'CRISIL B+/Stable' rating on the
long-term bank facility of Radhe Buildspace LLP (RBL).
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Long Term Loan 88 CRISIL B+/Stable (Reaffirmed)
The lockdown and other measures taken by various central and state
governments towards containment of COVID-19 are expected to have a
moderate impact on the business risk profile of the RBL in fiscal
2021. Construction activities have started from May 2020, although
at lower scale and expected to speed up over next 2-3 months.
However sluggish demand for commercial real estate might impact the
booking progress, resulting in slower advances from customers which
would result in pressure on liquidity profile
CRISIL has also taken into cognizance, moratorium being granted by
the bankers in debt servicing of term loan, up to August 31, 2020,
as permitted by the Reserve Bank of India (RBI), which should
contain the risk of default.
The rating reflects the experience of RBL's promoters in the real
estate industry and factors in the project's prudent funding mix.
These strengths are partially offset by risk related to project
implementation, flow of customer advances, and cyclicality in the
Indian real estate industry.
Key Rating Drivers & Detailed Description
Weakness
* Implementation risk and flow of customer advances: High project
implementation risk persists as on account of slower construction
progress owing to COVID-19 impact. Flow of customer advances will
remain a key rating sensitivity factor over the medium term.
* Susceptibility to cyclicality and risks in the real estate
industry: The real estate sector in India is cyclical because of
sharp movements in prices and a highly fragmented market structure.
With increase in supply, attractive prices offered by several
developers, and constant regulatory changes, profitability is
likely to remain under pressure over the medium term.
Strengths:
* Extensive experience of the promoters in the real estate
industry: Over the past one decade, the promoters have successfully
completed various residential and commercial projects; this should
help them complete the ongoing project on time.
* Prudent funding mix: For funding the project, the ratio of
promoters' fund (equity capital & unsecured loans), term loan from
bank and customer advances stands comfortable at 0.36: 0.36: 0.28,
indicating balanced approach adopted by the company for funding the
project.
Liquidity Stretched
Liquidity is stretched with delays in sales booking progress and
customer advances. However promoters have infused unsecured loans
to meet target promoter contribution. Repayment obligations for
term loan will start from June 2021. Cash debt service coverage
ratio (CDSCR) is expected to be around 1.2 times over tenure of
term loan. Timely inflow of customer advances will remain a rating
sensitivity factor.
Outlook: Stable
CRISIL believes RBL will continue to benefit from the experience of
the promoters.
Rating Sensitivity Factors
Upward factors:
* Faster than expected booking progress and advances from customer
* Improvement in CDSCR above 1.25 times
Downward factors:
* Significant delays in construction and booking progress and
advances from customers
* Decline in CDSCR to below 1.1 times.
Incorporated in April 2016 and promoted by Mr. Mahavir Nathulal
Shah, Me Anshul Khurana and Mr. Hitesh Tuljaram Maheshwari, RBL is
developing commercial real estate project 'United City' in Surat,
Gujarat.
RADHESH PLASTICS: CRISIL Migrates B Debt Ratings to Not Coop
------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Radhesh
Plastics India Private Limited (RPIPL) to 'CRISIL B/Stable Issuer
not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 2.7 CRISIL B/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Term Loan 2.08 CRISIL B/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with RPIPL for obtaining
information through letters and emails dated March 30, 2020 and
April 24, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of RPIPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on RPIPL is consistent
with 'Assessing Information Adequacy Risk'. Therefore, on account
of inadequate information and lack of management cooperation,
CRISIL has migrated the rating on bank facilities of RPIPL to
'CRISIL B/Stable Issuer not cooperating'.
Incorporated in 2010 and headquartered in Koteshwara, Karnataka,
RPIPL trades in PVC resins and manufactures PVC pipes. The company
has a manufacturing capacity of 1750 tonnes of pipes per annum.
RBL SHEETGRAH: CRISIL Assigns B+ Rating to INR5.25cr Loan
---------------------------------------------------------
CRISIL has assigned its 'CRISIL B+/Stable' rating to the long-term
bank facilities of Rbl Sheetgrah Pvt Ltd (RBL).
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 2 CRISIL B+/Stable (Assigned)
Term Loan 3.25 CRISIL B+/Stable (Assigned)
The rating reflects the company's modest scale of operations amid
intense competition and weak capital structure. Despite of Covid'19
and temporary shut-down of plant for around 10 days in March, 2020,
operating income has largely remain stable. RBL has resumed its
operations from first week of April, 2020 being in essential
commodities. In FY 2021, revenue is expected at around INR2.0cr.
These weaknesses are partially offset by the extensive experience
of the promoters in the cold storage industry and the company's
healthy debt protection metrics.
Key Rating Drivers & Detailed Description
Weaknesses:
* Modest scale of operations: RBL's business risk profile is
constrained by its modest scale in the intensely competitive cold
storage industry. Moreover, this will continue to limit its
operating flexibility.
* Weak capital structure: The capital structure is likely to remain
weak over the medium term. Gearing and the total outside
liabilities to tangible networth ratio were high at 3.89 times and
3.94 times, respectively, as on March 31, 2020.
Strengths:
* Extensive industry experience of the promoters: The promoters
have experience of over 21 years in the cold storage industry. This
has given them an understanding of the market dynamics and helped
establish strong relationships with suppliers and customers.
* Healthy debt protection metrics: RBL's debt protection measures
are comfortable despite leverage due to its moderately healthy
profitability. Interest coverage and net cash accrual to total debt
ratio were at 2.43 times and 0.11 time in fiscal 2020. The debt
protection measures are likely to remain at similar levels over the
medium term.
Liquidity Stretched
Cash accrual is expected at INR0.75-0.80 crore in fiscals 2020,
2021 and 2022 against term debt obligation of INR0.42-0.68 crore in
each fiscal. Bank limit utilisation was moderate around 39% on
average for the 12 months through March 2020. Unsecured loan from
the promoters stood at INR1.31 crore as on March 31, 2020,
supporting liquidity.
Outlook: Stable
CRISIL believes RBL will continue to benefit from the extensive
industry experience of the promoters and established relationships
with clients.
Rating Sensitivity factors
Upward factors
* Increase in operating income by more than 25% and sustenance of
operating margin
* Improvement in the financial risk profile or infusion of funds
Downward factors
* Decline in revenue, leading to net cash accrual below INR0.50
crore
* Large, debt-funded capital expenditure, weakening the capital
structure
Incorporated in 2017, RBL operates a potato cold storage facility
in Shikohabad, Uttar Pradesh. The company is promoted by Mr.
Avinash Kumar and Mr. Girish Chandra.
RELIANCE INFRASTRUCTURE: Ind-Ra Affirms D LT Issuer Rating
----------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Reliance
Infrastructure Limited's (RInfra) non-convertible debentures (NCDs)
to 'IND D (ISSUER NOT COOPERATING)' from 'IND C (ISSUER NOT
COOPERATING)' while affirming its Long-Term Issuer Rating to 'IND D
(ISSUER NOT COOPERATING)'. The issuer did not participate in the
rating exercise despite continuous requests and follow-ups by the
agency. Thus, the rating is based on the best-available
information. Therefore, investors and other users are advised to
take appropriate caution while using the rating. The rating will
continue to appear as 'IND D (ISSUER NOT COOPERATING)' on the
agency's website.
The detailed rating actions are:
-- INR50.1 mil. (reduced from INR180 mil.) Bank facilities (long-
term/short-term)# affirmed with IND D (ISSUER NOT
COOPERATING) rating; and
-- INR3.85 mil. NCDs (long-term)# downgraded with IND D (ISSUER
NOT COOPERATING) rating.
Note: ISSUER NOT COOPERATING: Issuer did not cooperate; based on
best-available information
#Details in Annexure
KEY RATING DRIVERS
The rating actions reflect RInfra's ongoing delays in debt
servicing. As per RInfra's disclosure on the National Stock
Exchange, there have been delays in interest servicing on NCDs.
The ratings have been maintained in the NCO category as the company
did not participate in the rating exercise and has not provided the
no-default certificate for the past 12 months.
RATING SENSITIVITIES
Positive: Timely debt servicing for at least three consecutive
months could result in an upgrade.
COMPANY PROFILE
R-Infra is the flagship company of the India-based Reliance Group,
led by Anil Dhirubhai Ambani, active in the energy and
infrastructure businesses. R-Infra has an in-house engineering
procurement construction division that is active in the power and
road segments.
ROSELABS LIMITED: CRISIL Keeps D Debt Ratings to Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Roselabs
Limited (RL) continues to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 8 CRISIL D (ISSUER NOT
COOPERATING)
Inland/Import 1.5 CRISIL D (ISSUER NOT
Letter of Credit COOPERATING)
Proposed Long Term 0.5 CRISIL D (ISSUER NOT
Bank Loan Facility COOPERATING)
CRISIL has been consistently following up with RL for obtaining
information through letters and emails dated June 12, 2020 and June
17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of RL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on RL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of RL
continues to be 'CRISIL D/CRISIL D Issuer not cooperating'.
Incorporated in 2008, RL is promoted by Ahmedabad (Gujarat) based
Mr. Pawan Agarwal and his family members. The company is engaged in
trading of pharmaceuticals, dyes, chemicals, textile products and
plastic sheets. The company has its marketing offices in various
states across India.
RUCKMONI MEMORIAL: Ind-Ra Lowers Bank Loan Rating to BB
-------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Ruckmoni
Memorial Charitable Educational Health Trust's bank loans' ratings
to 'IND BB (ISSUER NOT COOPERATING)' from 'IND BBB- (ISSUER NOT
COOPERATING)'. The issuer did not participate in the rating
exercise despite continuous requests and follow-ups by the agency.
The instrument-wise rating actions are:
-- INR131.34 mil. Bank Loan downgraded with IND BB (Issuer Not
Cooperating) rating;
-- INR29.66 mil. Bank Loan downgraded with IND BB (Issuer Not
Cooperating) rating; and
-- INR50 mil. Fund Based Working Capital Limit downgraded with
IND BB (Issuer Not Cooperating) rating.
KEY RATING DRIVERS
The downgrade is pursuant to SEBI Circular
SEBI/HO/MIRSD/CRADT/CIR/P/2020/2 dated January 3, 2020. As per
Circular any issuer having investment grade rating remains non
cooperative with rating agency for more than 6 months should be
downgraded to sub investment grade rating. Please refer agency's
website www.indiarating.co.in. Ruckmoni Memorial Charitable
Educational Health Trust has been non cooperative with the agency
from Jul 26, 2019
Current outstanding rating of IND BB(Issuer Not Cooperating) may
not reflect it's credit strength as the issuer has been non
cooperative with agency, therefore, investors and other users are
advised to take appropriate caution while using these ratings.
COMPANY PROFILE
Ruckmoni Memorial Charitable Educational Health Trust was formed in
2002 and registered as a public charitable trust. The trust is an
educational organization recognized under the Travancore Cochin
Literacy Scientific and Charitable Act, 1955.
RWL HEALTHWORLD: Ind-Ra Keeps D Issuer Rating in Non-Cooperating
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained RWL Healthworld
Limited's bank facilities in the non-cooperating category. The
issuer did not participate in the surveillance exercise, despite
continuous requests and follow-ups by the agency. Therefore,
investors and other users are advised to take appropriate caution
while using these ratings. The rating will continue to appear as
'IND D (ISSUER NOT COOPERATING)' on the agency's website.
The detailed rating actions are:
-- INR1,287.5 bil. Long-term loans due on June 2021 maintained in
non-cooperating category with IND D (ISSUER NOT COOPERATING)
rating; and
-- INR250 mil. Working capital demand loans (Long term)
maintained in non-cooperating category with IND D (ISSUER NOT
COOPERATING) rating.
Note: The ratings were last reviewed on March 31, 2017. Ind-Ra is
unable to provide an update as the agency does not have adequate
information to review the ratings.
COMPANY PROFILE
RWL Healthworld is engaged in the retail business of buying and
selling pharmaceutical and wellness products.
S HOMES: CRISIL Migrates D Debt Ratings to Not Cooperating
----------------------------------------------------------
CRISIL has migrated the rating on bank facilities of S Homes to
'CRISIL D Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Proposed Long 0.2 CRISIL D (ISSUER NOT COOPERATING;
Term Bank Loan Rating Migrated)
Facility
Term Loan 9.8 CRISIL D (ISSUER NOT COOPERATING;
Rating Migrated)
CRISIL has been consistently following up with S Homes for
obtaining information through letters and emails dated March 30,
2020 and April 24, 2020 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of S Homes, which restricts
CRISIL's ability to take a forward looking view on the entity's
credit quality. CRISIL believes that rating action on S Homes is
consistent with 'Assessing Information Adequacy Risk'. Therefore,
on account of inadequate information and lack of management
cooperation, CRISIL has migrated the rating on bank facilities of S
Homes to 'CRISIL D Issuer not cooperating'.
S Homes is into residential real estate development in and around
Nellore, Andhra Pradesh. The partners of the firm are Mr. S V
Ramanaiah and family, Mr. Srinivasulu.
S.M. RAM COAL: CRISIL Moves D Debt Ratings to Not Cooperating
-------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of S.M. Ram Coal
Importers Private Limited (SMR) to 'CRISIL D/CRISIL D Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Bill Negotiation 2 CRISIL D (ISSUER NOT COOPERATING;
Rating Migrated)
Cash Credit 4 CRISIL D (ISSUER NOT COOPERATING;
Rating Migrated)
Letter of Credit 12 CRISIL D (ISSUER NOT COOPERATING;
Rating Migrated)
Proposed Long 2.5 CRISIL D (ISSUER NOT COOPERATING;
Term Bank Loan Rating Migrated)
Facility
CRISIL has been consistently following up with SMR for obtaining
information through letters and emails dated March 30, 2020 and
April 24, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of SMR, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SMR is consistent
with 'Assessing Information Adequacy Risk'. Therefore, on account
of inadequate information and lack of management cooperation,
CRISIL has migrated the rating on bank facilities of SMR to 'CRISIL
D/CRISIL D Issuer not cooperating'.
SMR was established in 2009 as a proprietorship concern by Mr. SM
Ramar and was reconstituted as a private limited company in fiscal
2016. The company trades in steam coal and is based in Thoothukudi,
Tamil Nadu.
SAVA HEALTHCARE: Ind-Ra Affirms BB LT Issuer Rating, Outlook Stable
-------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Sava Healthcare
Limited's (SHL) Long-Term Issuer Rating at 'IND BB'. The Outlook is
Stable.
The instrument-wise rating actions are:
-- INR114.77 mil. (increased from INR111.5 mil.) Term loan due on
October 2026 affirmed with IND BB/Stable rating;
-- INR286.93 mil. (reduced from INR290.2 mil.) Fund-based working
capital limits affirmed with IND BB/Stable/IND A4+ rating;
and
-- INR30.00 mil. Non-fund-based working capital limits affirmed
with IND A4+ rating.
KEY RATING DRIVERS
The affirmation reflects SHL's continued medium scale of
operations, as indicated by the revenue of INR1,152.87 million in
FY20 (FY19: INR975.19 million). The revenue increased due to growth
in the sales volumes as well as the resumption of trading
activities during the year. SHL's revenue increased at a CAGR of
16.67% during FY16-FY20 due to a steady increase in orders. Sava
continues to achieve almost 56% of its revenue from the exports
segment and rest from the domestic market. As the company operates
in the essential goods segment, it remained unaffected by the
COVID-19-led lockdown and was able to book revenue of INR367.63
million until June 25, 2020. In addition, the company had an order
book of INR200 million as on the same date. Consequently, the
agency expects SHL to achieve healthy revenue growth in FY21.
Liquidity Indicator - Stretched: The average maximum utilization of
the fund-based limits was 94.03% for the 12 months ended May 2020.
SHL's cash flow from operations is likely to have remained negative
in FY20 (FY19: negative INR87.98 million; FY18: negative INR36.48
million) due to the company's high working capital requirements.
However, with the likely improvement in the top-line, and hence,
the EBITDA, the cash flow from operations might turn positive in
FY21, though it would be at low levels. The company has not availed
the Reserve Bank of India-prescribed debt moratorium, and
therefore, has a scheduled repayment of INR28.71 million in FY21.
SHL's cash and cash equivalents amounted to around INR100.00
million at end-FY20 (end-FY19: INR10.78 million). Considering the
high working capital requirement, the agency expects the liquidity
to remain stretched over the near term.
The ratings reflect SHL's modest EBITDA margins due to the
outsourcing the manufacturing of a few products as well as high
overall operating expenses. In addition, the margins are affected
by changes in the contribution of the high-margin and low-margin
products. The company's margin fell to 10.86% in FY19 (FY18:
14.29%) due to increased operating expenses. However, in absolute
terms, the EBITDA is likely to have increased marginally on a yoy
basis in FY20 (FY19: INR105.93 million), with the growth in revenue
likely to have resulted in better absorption of fixed costs. The
return on capital employed is likely to have been stable around
3% in FY20 (FY19: 3%). Considering the nature of Sava's business,
the margins are likely to have remained at FY19 levels in FY20, and
might continue to be modest in the near term as well. The company
has taken initiatives to control costs, including measures to
reduce the number of contractual laborers and ensure optimum
utilization of the available resources. These measures might lend
some support to the margins.
The ratings are also constrained by the weak credit metrics due to
the modest EBITDA margins. Almost 66% of the total debt of the
company comprises non-interest bearing unsecured loans, resulting
in a lower debt burden. The metrics had deteriorated in FY19, with
interest coverage (operating EBITDA/gross interest expense) of
2.20x (FY18: 2.27x) and net leverage (adjusted net debt/operating
EBITDAR) of 6.17x (FY18: 5.02x), due to a fall in the absolute
EBITDA and a rise in the debt levels. Excluding unsecured loans,
the net leverage stood at 4.01x in FY19 (FY18:3.79x). The metrics
are likely to have deteriorated further in FY20 owing to the
undertaking of additional bank borrowings. However, Ind-Ra expects
the metrics to improve over the near term because of the absence of
any major debt-funded capital expenditure plans. Furthermore,
according to the management, the company plans to raise additional
equity equivalent to its foreign currency denominated loan, which
amounted to INR207.32 million at end-FY20. The equity proceeds will
be used to pay off this short-term loan. The agency believes the
successful infusion of the equity would lead to an improvement in
the credit metrics in FY21.
The rating continues to benefit from SHL's longstanding
relationships of more than a decade with its existing customers,
which enables it to secure repeat orders.
RATING SENSITIVITIES
Negative: Any decline in revenue and /or profitability, leading to
deterioration in the interest coverage below 2.0x, along with
further deterioration in the liquidity position, would be negative
for the rating.
Positive: A consistent improvement in the revenue and
profitability, leading to an improvement in the credit metrics,
along with an improvement in the liquidity position, will be
positive for the rating.
COMPANY PROFILE
Incorporated in 2004 by Vinod Jadhav, Pune-based SHL, formerly
Anagha Pharma Private Limited mainly manufactures pharmaceutical
products. It is also engaged in research and development, and the
herbal and veterinary segments. The company re-launched the trading
segment in FY20. SHL manufactures generic drugs in segments such
as respiratory, cardiovascular, anti-diabetic, urology,
gastroenterology, dermatology and multivitamins. The products are
in form of tablets, capsules, nasal spray, liquid orals, ointment
and dry powders.
SGR (777) FOODS: CRISIL Moves B Debt Ratings to Not Cooperating
---------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of SGR (777)
Foods Private Limited (SGR) to 'CRISIL B/Stable/CRISIL A4 Issuer
not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Term Loan .79 CRISIL B/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Secured Overdraft
Facility 5.00 CRISIL B/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Short Term Loan 2.00 CRISIL A4 (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with SGR for obtaining
information through letters and emails dated June 12, 2020 and June
17, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of SGR, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SGR is consistent
with 'Assessing Information Adequacy Risk'. Therefore, on account
of inadequate information and lack of management cooperation,
CRISIL has migrated the rating on bank facilities of SGR to 'CRISIL
B/Stable/CRISIL A4 Issuer not cooperating'.
SGR was established as a partnership firm, Sri Ganeshram & Company,
in 1954 by Mr. R Srikanth and his family members; the firm was
reconstituted as a private limited company in April 2003. The
company manufactures blended spices, grounded spices, flour,
instant ready-mix food, pickle, and ghee under the 777 brand.
SLV ENTERPRISES: CRISIL Moves B+ INR10cr Debt Rating to Not Coop
----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of SLV
Enterprises - Nellore (SLV) to 'CRISIL B+/Stable Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 10 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
CRISIL has been consistently following up with SLV for obtaining
information through letters and emails dated March 30, 2020 and
April 24, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of SLV, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SLV is consistent
with 'Assessing Information Adequacy Risk'. Therefore, on account
of inadequate information and lack of management cooperation,
CRISIL has migrated the rating on bank facilities of SLV to 'CRISIL
B+/Stable Issuer not cooperating'.
Established in 2017, SLV is engaged in trading of rice and paddy.
The firm is based in Nellore, Andhra Pradesh and Mr. R.
Venkateswarlu is the proprietor. Operations of the firm commenced
in December 2017.
SMART AGRO: Ind-Ra Moves B+ LT Issuer Rating to Non-Cooperating
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Smart Agro Food
Park Private Limited's Long-Term Issuer Rating to the
non-cooperating category. The issuer did not participate in the
rating exercise despite continuous requests and follow-ups by the
agency. Therefore, investors and other users are advised to take
appropriate caution while using these ratings. The rating will now
appear as 'IND B+ (ISSUER NOT COOPERATING)' on the agency's
website.
The instrument-wise rating action is:
-- INR250 mil. Term loan due on November 2023 migrated to non-
cooperating category with IND B+ (ISSUER NOT COOPERATING)
rating.
Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
June 28, 2019. Ind-Ra is unable to provide an update, as the agency
does not have adequate information to review the ratings.
COMPANY PROFILE
Incorporated in May 2014, Smart Agro Food Park operates a
multi-commodity cold storage facility with an installed capacity of
5,500 metric tons (mt) and a turmeric processing unit with a
capacity of 20mt per day.
SRI RAJA: Ind-Ra Lowers LT Issuer Rating to BB+, Outlook Stable
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Sri Raja
Rajeswari Constructions (India) Private Limited's (SRRCPL)
Long-Term Issuer Rating to 'IND BB+' from 'IND BBB'. The Outlook is
Stable.
The instrument-wise rating actions are:
-- INR250 mil. Fund-based working capital limits downgraded with
IND BB+/Stable/IND A4+ rating;
-- INR650 mil. Non-fund-based working capital limits downgraded
with IND A4+ rating;
-- INR78.27 mil. (reduced from INR156.6 mil.) Term loans due on
August 2021 downgraded with IND BB+/Stable rating;
-- INR200 mil. Proposed fund-based working capital limits
Withdrawn (the company did not proceed with the instrument as
envisaged); and
-- INR400 mil. Proposed non-fund-based working capital limits
Withdrawn (the company did not proceed with the instrument as
envisaged).
KEY RATING DRIVERS
Liquidity Indicator- Stretched: The downgrade reflects SRRCPL's
stretched liquidity position as the company utilized almost 100% of
its fund-based working capital facilities during the 12 months
ended May 2020. The cash flow from operations plummeted to INR91.3
million in FY20 (FY19: INR448 million) on account of increased
working capital requirements. In FY20, SRRCPL incurred a capex of
INR585.3 million (FY19: INR377.6 million), which was about 90%
funded by debt from banks and non-banking finance companies leading
to high monthly repayment obligations. As the company undertakes
state-government contracts, Ind-Ra expects any delays in payments
from the state governments to lead to a severe cash flow mismatch.
Furthermore, the company does not have sufficient non-fund based
limits to retain the security deposits held by the government
authorities, which accumulated to INR989.24 million in FY20 (FY19:
INR854.7 million). FY20 financials are provisional in nature.
However, Ind-Ra believes SRRCPL will receive some respite in the
form of the release of a performance and security bank guarantee
amounting to INR274.1 million, as per the guidelines of the
Ministry of Finance in wake of the COVID-19 pandemic to boost civil
contractors' liquidity positions. Moreover, the company has
obtained the Reserve Bank of India-prescribed moratorium on its
term loan installments and working capital interest payments from
March-August 2020 from all the banks/lenders. However, Ind-Ra notes
that the company's liquidity position would ease only once the
company is able to enhance its non-fund based working capital
limits while maintaining its medium scale of operations. SRRCPL is
in the engineering, procurement and construction business, which is
working capital intensive in nature. The gross working capital
cycle elongated to 118 days in FY20 (FY19: 42 days) due to an
increase in the debtor days to 100 (27) on account of delays in
receiving payments from the government.
The ratings are further constrained by the company's continued
medium scale of operations. Its revenue declined to INR5,193.1
million in FY20 (FY19: INR7,396.3 million) due to execution delays
owing to higher-than-average rains and bulk revenue booking of a
high-value contract (Gouravelli) in FY19. The project, worth
INR9,852.3 million commenced operations in 4QFY18, resulting in a
revenue booking of INR4,357.7 million in FY19 and INR2,786.5
million in FY20. The company booked revenue of INR101.3 million
during April-May 2020. As of May 2020, SRRCPL had an unexecuted
order book of INR18,013.28 million, with strong revenue visibility
of 3.5x (based on FY20 revenue).
The ratings, however, are supported by the company's healthy EBITDA
margins, which expanded to 15.9% in FY20 (FY19: 12.5%) due to a
fall in the subcontract expenses to 14.5% (22.8%) and reduction in
logistics and new establishment expenses. Its return on capital
employed reduced to 18.6% in FY20 (FY19: 31.2%) due to a
substantial increase in the debt-led capex during the period.
The ratings are also supported by SRRCPL's strong credit metrics
despite the deterioration in FY20. Its net leverage (adjusted net
debt/operating EBITDAR) and interest coverage ratio (operating
EBITDA/gross interest expense) deteriorated in FY20 to 1.8x (1.1x)
and 5.2x (5.8x), respectively, led by the substantial increase in
the gross debt to INR1,536.2 million (INR1,092.6 million) to fund
the capex. Ind-Ra expects the credit metrics to continue being
strong in the near term in view of the strong revenue visibility.
The ratings are further supported by the founders' close to three
decades of experience in executing civil construction projects,
which has led to better execution capabilities and helps the
company in obtaining repeat orders from clients on a subcontract
basis.
RATING SENSITIVITIES
Positive: Any improvement in the liquidity position while
maintaining the credit metrics would lead to positive rating
action
Negative: Any further deterioration in the liquidity position
and/or fall in the scale operations and credit metrics would lead
to a negative rating action.
COMPANY PROFILE
SRRCPL was incorporated in 1993 as a proprietorship firm. It was
reconstituted as a partnership firm in 2007 and as a private
limited company on March 25, 2014. It is a closely held company
owned and managed by R Muthaiah and his son R Ramu. It is
registered as a special class contractor with the Andhra Pradesh
and Telangana governments.
SS ALUMINIUM: CRISIL Migrates D Debt Ratings to Not Cooperating
---------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of SS Aluminium
Private Limited (SSAPL) to 'CRISIL D/CRISIL D Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Bank Guarantee 0.5 CRISIL D (ISSUER NOT COOPERATING;
Rating Migrated)
Cash Credit 6.5 CRISIL D (ISSUER NOT COOPERATING;
Rating Migrated)
Long Term Loan 4.42 CRISIL D (ISSUER NOT COOPERATING;
Rating Migrated)
Proposed Long 1.92 CRISIL D (ISSUER NOT COOPERATING;
Term Bank Loan Rating Migrated)
Facility
CRISIL has been consistently following up with SSAPL for obtaining
information through letters and emails dated March 30, 2020 and
April 24, 2020 among others, apart from telephonic communication.
However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of SSAPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on SSAPL is consistent
with 'Assessing Information Adequacy Risk'. Therefore, on account
of inadequate information and lack of management cooperation,
CRISIL has migrated the rating on bank facilities of SSAPL to
'CRISIL D/CRISIL D Issuer not cooperating'.
SSAPL, incorporated in 2013 and based in Balasore, Odisha,
manufactures aluminium extrusions for door and window frames. Mr.
Jadabendra Pradhan and his wife Ms. Madhusmita Pradhan manage the
operations.
THENI GURU: Ind-Ra Cuts LT Issuer Rating to BB and Withdraws it
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Theni Guru
Krishna Textile Mills Private Limited's (TGK) Long-Term Issuer
Rating to 'IND BB (ISSUER NOT COOPERATING)' from 'IND BBB (ISSUER
NOT COOPERATING)' and has simultaneously withdrawn the rating. The
issuer did not participate in the rating exercise despite
continuous requests and follow-ups by the agency.
The instrument-wise rating actions are:
-- INR690 mil. Fund-based working capital limit$ downgraded and
withdrawn;
-- INR160 mil. Non-fund based working capital limit* downgraded
and withdrawn; and
-- INR700 mil. Term loan# due on February 28, 2024, downgraded and
Withdrawn.
$Downgraded to 'IND BB (ISSUER NOT COOPERATING)'/'IND A4 (ISSUER
NOT COOPERATING)' from 'IND BBB (ISSUER NOT COOPERATING)'/'IND A3+
(ISSUER NOT COOPERATING)' before being withdrawn.
*Downgraded to 'IND A4 (ISSUER NOT COOPERATING)' from 'IND A3+
(ISSUER NOT COOPERATING)' before being withdrawn.
#Downgraded to 'IND BB (ISSUER NOT COOPERATING)' from 'IND BBB
(ISSUER NOT COOPERATING)' before being withdrawn.
Ind-Ra is no longer required to maintain the ratings, as the agency
has received a no-objection certificate from the lender. This is
consistent with the Securities and Exchange Board of India's
circular dated March 31, 2017, for credit rating agencies.
KEY RATING DRIVERS
The downgrade is pursuant to The Securities and Exchange Board of
India's circular SEBI/HO/MIRSD/CRADT/CIR/P/2020/2 dated January 3,
2020. As per the circular, any issuer having an investment-grade
rating remains non-cooperative with a rating agency for more than
six months should be downgraded to sub-investment-grade rating.
Please refer the agency's website www.indiarating.co.in. TGK has
been non-cooperative with the agency since September 27, 2018.
COMPANY PROFILE
Started in 1992, TGK is an integrated textile player and has a
textile mill in Theni.
TRIVANDRUM APOLLO: CRISIL Withdraws B Rating on INR12.26cr Loan
---------------------------------------------------------------
CRISIL has reaffirmed its rating on the bank facilities of
Trivandrum Apollo Towers Private Limited (TATPL) and subsequently
withdrawn the rating at the company's request and on receipt of a
no objection certificate from the bankers. The withdrawal is in
line with CRISIL's policy on withdrawal of bank loan rating.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Long Term Loan 12.26 CRISIL B/Stable (Rating
Reaffirmed and Withdrawn)
Proposed Long Term 2.00 CRISIL B/Stable (Rating
Bank Loan Facility Reaffirmed and Withdrawn)
Working Capital
Facility 0.74 CRISIL B/Stable (Rating
Reaffirmed and Withdrawn)
TATPL, based in Manjeri (Kerala), and incorporated in 2006, runs a
four-star hotel, Apollo Dimora incThiruvananthapuram. Operations
are managed by managing director, Mr. O M Abdul Rasheed. The hotel
consists of 135 rooms, 2 restaurants, 7 conference halls, and a
coffee shop.
VJ GOTE: CRISIL Migrates B+ Debt Ratings to Not Cooperating
-----------------------------------------------------------
CRISIL has migrated the rating on bank facilities of V. J. Gote
Brothers (VJGB) to 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Bank Guarantee 2 CRISIL A4 (ISSUER NOT
COOPERATING; Rating Migrated)
Cash Credit 7.5 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Rating Migrated)
Proposed Working 0.5 CRISIL B+/Stable (ISSUER NOT
Capital Facility COOPERATING; Rating Migrated)
CRISIL has been consistently following up with VJGB for obtaining
information through letters and emails dated March 31, 2020, June
12, 2020 and June 17, 2020 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of VJGB, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on VJGB is consistent
with 'Assessing Information Adequacy Risk'. Therefore, on account
of inadequate information and lack of management cooperation,
CRISIL has migrated the rating on bank facilities of VJGB to
'CRISIL B+/Stable/CRISIL A4 Issuer not cooperating'.
Incorporated in 1996, VJGB is promoted by Mr. Natraj Gote. The firm
constructs roads, drains, and small bridges, and undertakes other
civil contract work for customers such as Indian Railways, Public
Works Department, and Pune Municipal Corporation.
WIINTRACK EXPORTS: CRISIL Moves D Debt Ratings to Not Cooperating
-----------------------------------------------------------------
CRISIL has migrated the rating on bank facilities of Wiintrack
Exports (WE) to 'CRISIL D/CRISIL D Issuer not cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Long Term Loan 2.5 CRISIL D (ISSUER NOT COOPERATING;
Rating Migrated)
Packing Credit 8.5 CRISIL D (ISSUER NOT COOPERATING;
Rating Migrated)
CRISIL has been consistently following up with WE for obtaining
information through letters and emails dated April 29, 2020, June
12, 2020 and June 17, 2020 among others, apart from telephonic
communication. However, the issuer has remained non cooperative.
'The investors, lenders and all other market participants should
exercise due caution with reference to the rating assigned/reviewed
with the suffix 'ISSUER NOT COOPERATING' as the rating is arrived
at without any management interaction and is based on best
available or limited or dated information on the company. Such non
co-operation by a rated entity may be a result of deterioration in
its credit risk profile. These ratings with 'ISSUER NOT
COOPERATING' suffix lack a forward looking component.'
Detailed Rationale
Despite repeated attempts to engage with the management, CRISIL
failed to receive any information on either the financial
performance or strategic intent of WE, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on WE is consistent
with 'Assessing Information Adequacy Risk'. Therefore, on account
of inadequate information and lack of management cooperation,
CRISIL has migrated the rating on bank facilities of WE to 'CRISIL
D/CRISIL D Issuer not cooperating'.
Set up in 2002, Tiruppur (Tamil Nadu)-based, WE, a partnership
concern of Mr. K Velusamy and family, manufactures RMG, primarily
ladies and kids wear.
=====================
N E W Z E A L A N D
=====================
CLUBS OF MARLBOROUGH: Directors to Vote on Club's Future in Oct.
----------------------------------------------------------------
Jennifer Eder at Stuff.co.nz reports that a board of directors
hoped to bring the Clubs of Marlborough back from the brink of
insolvency will likely be voted on in October--although some
members say that's not soon enough.
The combined clubs, in central Blenheim, owes about NZD5 million to
the bank and other creditors, and has struggled to turn a profit
for several years, Stuff discloses citing an independent review
finished in late March. A restructure cutting staff numbers in half
is still underway, with some contracts still being negotiated.
Stuff relates that the review said to avoid liquidation, the Clubs
needed to change its governance to a board of four professional
directors with experience, rather than a committee of members,
currently voted in at each annual general meeting. It would require
a change to the Clubs' rules.
According to Stuff, President Jason Clouston said he personally
believed governance should be reviewed after the restructuring of
staff and management was finished.
"We've got to go through a consultative process with members about
what that will look like," Stuff quotes Mr. Clouston as saying. "I
agree, to a certain degree, about having a board independent of the
clubs, but I think the president and the president of the [Returned
and Services Association] RSA should be on that board, and there
still needs to be a role for the committee."
The committee of members ensured the will of members was heard by
decision-makers, Mr. Clouston said.
"And historically the committee has represented the various
sections, it will always be important for those adjuncts to have a
voice."
Stuff relates that Mr. Clouston said he believed the AGM in October
was the best time for members to vote on whether to change the
rules as recommended by the review.
If members voted in favor, the rule change would need to be
drafted, and then an extraordinary general meeting would be needed
to formally adopt the new rules, Mr. Clouston said, Stuff relays.
A group of concerned members had called their own EGM last month,
unsuccessfully calling for Mr. Clouston's removal saying he was
unprofessional, failed to keep members informed of the Clubs'
financial situation, and failed to reopen the Clubs speedily after
lockdown, Stuff recalls. It reopened on June 22.
According to Stuff, member Niel Sowry said he felt the situation
was too urgent to wait for the AGM. Clubs NZ had called off
scheduled darts and cribbage tournaments at the Blenheim club as
its annual membership fee had not been paid.
"The business is suffering because tournaments have been called
off, which is a serious loss of income for the Clubs," the report
quotes Mr. Sowry as saying. "I think we need to deal with this as
soon as possible."
Mr. Sowry and other concerned members visited Kaikoura MP Stuart
Smith last week to discuss their options, the report notes.
Mr. Smith said one option to move things along would be to call
another EGM before the AGM in October, to vote on the rule change
earlier, so it could be drafted and adopted sooner.
"There is so much concern out in the community about this . . . it
is a community asset, and I think those sorts of organisations need
to front-foot something like this. There's a lot of pressure from
members simply because they don't know what's going on, they've
been kept in the dark," Stuff quotes Mr. Smith as saying.
"It's really up to the members, and what they want. It's their club
after all."
He believed Marlborough Mayor John Leggett would make a suitable
chairman for the meeting, given his day job facilitating democratic
discussion, Mr. Smith said. Mr. Leggett was also a Clubs member.
=================
S I N G A P O R E
=================
HONTOP ENERGY: CIMB Alleges Suspicious Deals with BP
----------------------------------------------------
Reuters reports that the High Court has appointed an independent
supervisor to oversee the restructuring of oil trader Hontop Energy
(Singapore).
The move came after Malaysian lender CIMB Bank, its biggest
creditor, raised concerns about what it described as "suspicious"
deals involving oil major BP, according to an affidavit filed with
the court in June and reviewed by Reuters.
Hontop, the trading arm of Chinese independent refiner China Wanda
Holding Group Co Ltd, is one of four commodity trading firms in
Singapore which ran into financial trouble as the oil price
crashed. CIMB is seeking repayment of $105 million it lent the
company, Reuters says.
In the affidavit requesting the appointment of an independent
supervisor to run Hontop's affairs, CIMB Bank Berhad detailed how
it lent Hontop the money to finance two crude oil deals late last
year in a section entitled 'Suspicious transactions,' according to
Reuters.
In total, Hintop owes nearly $470 million to seven banks, according
to a list of creditors included in the affidavit.
Accounting firm RSM Corporate Advisory Pte Ltd has been named
interim judicial managers following the bank's application, Reuters
discloses citing CIMB's law firm Rajah & Tann and the affidavit.
Reuters relates that the deals cited by CIMB in its affidavit
involved Hontop buying cargoes from Sugih Energy International Pte
Ltd, now known as Aeturnum Energy International Pte Ltd, and
telling CIMB it was reselling them to BP Singapore Pte Ltd (BPS), a
unit of BP.
Focus Law Asia LLC, representing Aeternum Energy, confirmed the
transactions with Hontop.
Hontop Energy (Singapore) Pte Ltd, a unit of China Wanda Group,
buys crude oil for the group's 100,000 barrels per day refinery in
Dongying, Shandong province, operated by Tianhong Chemicals Co Ltd.
HYFLUX LTD: Gets Letter of Interest from Unilegend Investments
--------------------------------------------------------------
Marissa Lee at The Business Times reports that yet another unnamed
investor is stalking Hyflux, and has written to the distressed
water-cleaning firm to express its interest in a possible
investment.
According to BT, Hyflux said on July 10 that it has received a
letter of interest from Singapore-incorporated Unilegend
Investments, on behalf of a client.
Unilegend Investments did not name the client, but said that its
focus is on clean energy and water, BT says. Unilegend
representative Peng Chun-Sheng wrote: "Our client has plans to
carry out seawater desalination projects in Shandong and Tianjin in
China, and sees great synergies with Hyflux."
This client is prepared to provide working capital for Hyflux if it
completes the investment either by becoming a substantial
shareholder of Hyflux or by owning the group's debt, Mr. Peng said,
BT relays.
"We also wish to state that we would not consider making this
investment if Ms. Olivia Lum and her current management and board
of Hyflux are removed, or if the Hyflux Group is placed into
judicial management or liquidation," BT quotes Mr. Peng as saying.
Hyflux chief executive Ms. Lum, together with the group's current
and former directors, are under investigation by the Singapore
police and financial regulator for suspected false and misleading
statements and breaches of disclosure rules that may have taken
place over a period of years, BT notes.
Some of Hyflux's creditors, namely Bangkok Bank, BNP Paribas, CTBC
Bank, Mizuho, KfW, Korea Development Bank, Standard Chartered Bank
adn ESR-Reit, want to replace her and her team with judicial
managers, BT says. Their applications to be carved out of Hyflux's
debt moratorium will be heard in the Singapore High Court on
July 27.
While Unilegend mulls an investment, other investors have made
offers to Hyflux's senior unsecured creditors to buy their debt at
a discount, according to BT.
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, 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.
HYFLUX LTD: Pison Investments Makes Formal Cash Offer
-----------------------------------------------------
Marissa Lee at The Business Times reports that Indonesian Johnny
Widjaja, the chief executive of PT Havilah, which is developing a
coastal industrial estate in Java, on July 9 made a formal cash
offer for the debt of Hyflux's bank lenders, note holders and other
senior unsecured creditors through his vehicle, Pison Investments.
BT relates that the price for any offered debt purchased will be
determined via a reverse Dutch auction, which is the opposite of a
conventional auction, as potential sellers make the bid rather than
the buyer. The bids start low and go higher until the money set
aside for the purchases is exhausted.
In this case, Mr. Widjaja has set aside SGD200 million to purchase
the debts and to provide working capital to the group. His offer is
subject to a minimum offered discount of 91 per cent. The deadline
for senior unsecured creditors to accept the offer is 5 pm on Sept
25. The long-stop date is Dec. 31, 2019, BT notes.
If Mr. Widjaja is able to buy out all of the senior debt, he can
retire Hyflux's debts at a discount and take the company out of
insolvency without having to make any payments to holders of
Hyflux's perpetuals and preference shares (PnP).
His offer is largely similar to an outstanding offer by
special-purpose vehicle Aqua Munda, the report states.
BT says Aqua Munda is offering to buy the senior debt at a minimum
discount of 85 per cent in a reverse Dutch auction, and has
committed SGD208 million to make the purchases, as well as to fund
Hyflux's capital requirements in addition to the debt buyout, if
agreed.
However, the two offers differ in one key detail.
According to BT, Mr. Widjaja's offer is conditional on Hyflux chief
executive Ms. Olivia Lum and other current directors and senior
executive management remaining in office. This was not a condition
of the Aqua Munda offer.
According to the offer document from Pison Investments, Mr.
Widjaja is building Patimban Industrial Park, an approximately
6,000-hectare development in Java that is located by a new
international deep sea port, with plans for a new power plant and a
water-treatment plant. As for Aqua Munda, it has not disclosed its
source of funds, BT adds.
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, 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.
HYFLUX LTD: Utico Says Still Wants to Engage in Restructuring Plan
------------------------------------------------------------------
Marissa Lee at The Business Times reports that Emirati utilities
group Utico said on July 9 that it still wants to engage with
Hyflux to work on a restructuring plan, after its earlier offer
lapsed.
In its new proposal, Utico will subscribe for SGD340 million new
shares in Hyflux for a resultant 70-per-cent equity stake, which
works out to an equity valuation of SGD485 million for Hyflux,
Utico chief executive Richard Menezes told The Business Times.
Of the SGD340 million, SGD275 million in cash will be used as part
of a cash and stock deal to settle Hyflux's outstanding debts,
including payment to the PnP holders. The remaining SGD65 million
will be used as working capital and to pay Hyflux's advisers, Mr.
Menezes, as cited by BT, said.
One of Hyflux's restructuring advisers, nTan Corporate Advisory,
will also get a 5 per cent stake in Hyflux.
Details of Utico's latest revised offer have been sent to
creditors, he said, adds BT.
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, 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.
OCEAN TANKERS: Supervisor to Start Restructuring Talks with Owners
------------------------------------------------------------------
Ernst & Young (EY), the court-appointed supervisor for Ocean
Tankers Pte Ltd (OTPL), has proposed two restructuring options to
the shipping company's owners and could meet with them as early as
next week to discuss the plans, according to an EY report seen by
Reuters.
The discussions are to ascertain whether the owners--Lim Oon Kuin,
his son Evan Lim Chee Meng and daughter Lim Huey Ching, or the Lim
family--are "willing to support any future restructuring of OTPL",
the report said, Reuters relays.
Reuters relates that Evan Lim, the director of Ocean Tankers, said
in an email that the Lim family would make it known if it decided
to release a statement on the report.
The Lim family owns Hin Leong Trading Pte Ltd and OTPL, one of
Asia's largest oil trading and ship management companies, which
were placed under interim judicial management in May and April,
respectively, to restructure billions of dollars of debt, Reuters
discloses.
Under judicial management, a court appoints independent managers to
run the affairs of a financially distressed company in place of
existing management, a move that is often looked upon favourably by
creditors.
Since taking over the company's management, EY has leased out
tankers and continued operations at the oil storage and lubricant
blending businesses under OTPL, according to Reuters.
OTPL manages and operates a fleet of about 140 vessels that are
chartered mainly from the Lim family's Xihe Group which has sought
to terminate the chartering agreement with Ocean Tankers for 41
ships, EY said.
Reuters relates that under the first restructuring option, EU
proposed that, in order to preserve OTPL's shipping business, the
company remain as Xihe Group's fleet manager and that Xihe provide
advance funding for such services.
OTPL's oil storage and lubricant processing businesses could either
be operated as a standalone unit or sold to interested third-party
investors, the report, as cited by Reuters, said.
The second option would be to consider a proposal from
PricewaterhouseCoopers, Hin Leong Trading's court-appointed
supervisor, to restructure the oil trader and the Lim family's
other businesses into a group as an integrated petroleum trading
platform, the report said, Reuters relays.
It said the Lim family had informed EY that they were prepared to
meet next week subject to certain conditions, adds Reuters.
About Hin Leong
Hin Leong Trading and shipping unit Ocean Tankers (Pte.) Ltd. filed
for court protection from creditors on April 17, 2020, as the
former struggles to repay debts of almost US$4 billion.
Hin Leong posted a positive equity of US$4.56 billion and net
profit of US$78 million in the period ended October 31, according
to the people, who asked not to be identified as the matter is
sensitive, according to Bloomberg News.
But Hin Leong told its creditors this month that total liabilities
reached US$4.05 billion as of early April, while assets were just
US$714 million, leaving a hole of at least US$3.34 billion,
according to screenshots of the presentation to a group of bankers
seen by Bloomberg News.
The balance sheet of the company showed no equity at all as of
April 9, 2020, and warned that "figures obtained from the company
are subject to verification," Bloomberg News added.
On April 27, the Company was granted interim judicial management by
the the Singapore High Court. Goh Thien Phong and Chan Kheng Tek
of PricewaterhouseCoopers Advisory Services (PwC) have been
appointed as interim judicial managers.
===============
X X X X X X X X
===============
[*] BOND PRICING: For the Week July 6, 2020 to July 10, 2020
------------------------------------------------------------
Issuer Coupon Maturity Currency Price
------ ------ -------- -------- -----
AUSTRALIA
---------
CLEAN SEAS SEAFOOD LTD 8.00 11/18/22 AUD 1.03
CLIME CAPITAL LTD/FUND 6.25 11/30/21 AUD 0.97
KEYBRIDGE CAPITAL LTD 7.00 07/31/20 AUD 0.95
MIDWEST VANADIUM PTY L 13.25 02/15/18 USD 0.15
PALADIN ENERGY LTD 10.00 02/01/23 USD 52.48
PALADIN ENERGY LTD 10.00 02/01/23 USD 52.48
VIRGIN AUSTRALIA HOLDI 8.00 11/26/24 AUD 14.86
VIRGIN AUSTRALIA HOLDI 8.08 03/05/24 AUD 19.55
VIRGIN AUSTRALIA HOLDI 8.25 05/30/23 AUD 43.61
VIRGIN AUSTRALIA HOLDI 8.13 11/15/24 USD 14.90
VIRGIN AUSTRALIA HOLDI 8.13 11/15/24 USD 14.65
VIRGIN AUSTRALIA HOLDI 7.88 10/15/21 USD 15.77
VIRGIN AUSTRALIA HOLDI 7.88 10/15/21 USD 13.49
CHINA
-----
AKESU DISTRICT GREEN I 4.09 03/11/23 CNY 60.95
AKESU DISTRICT GREEN I 4.09 03/11/23 CNY 60.87
AKESU XINCHENG ASSET I 6.40 04/20/22 CNY 40.52
AKESU XINCHENG ASSET I 6.40 04/20/22 CNY 40.00
ALTAY PREFECTURE STATE 4.85 01/22/23 CNY 60.70
ALTAY PREFECTURE STATE 4.85 01/22/23 CNY 59.98
AN SHUN YU KUN REAL ES 5.48 11/10/21 CNY 66.31
ANHUI FOREIGN ECONOMIC 7.30 12/24/21 CNY 11.91
ANHUI FOREIGN ECONOMIC 7.30 07/13/21 CNY 70.01
ANHUI PINGTIANHU INVES 7.40 10/23/20 CNY 20.19
ANHUI PINGTIANHU INVES 7.40 10/23/20 CNY 19.60
ANHUI PROVINCE TONGLIN 7.30 05/13/21 CNY 47.18
ANHUI PROVINCE TONGLIN 7.30 05/13/21 CNY 40.62
ANJI COUNTY STATE-OWNE 8.30 04/24/21 CNY 24.57
ANJI COUNTY STATE-OWNE 8.30 04/24/21 CNY 20.69
ANQING ECONOMIC&TECHNO 4.09 03/09/23 CNY 60.88
ANQING ECONOMIC&TECHNO 4.09 03/09/23 CNY 59.92
ANQING URBAN CONSTRUCT 6.01 04/27/22 CNY 41.61
ANQING URBAN CONSTRUCT 6.01 04/27/22 CNY 40.00
BAOJI HI-TECH INDUSTRI 8.25 04/21/21 CNY 20.68
BAOJI HI-TECH INDUSTRI 8.25 04/21/21 CNY 20.00
BAOTOU CITY SCIENCE ED 6.48 03/25/22 CNY 45.50
BAOTOU CITY SCIENCE ED 6.48 03/25/22 CNY 41.25
BAOYING CITY CONSTRUCT 4.50 03/24/23 CNY 61.39
BAOYING CITY CONSTRUCT 4.50 03/24/23 CNY 61.36
BAYAN ZHUOER HETAO WAT 8.54 03/31/22 CNY 31.85
BAZHONG STATE-OWNED AS 5.13 12/02/22 CNY 60.89
BAZHONG STATE-OWNED AS 5.13 12/02/22 CNY 60.00
BAZHONG STATE-OWNED AS 8.50 04/25/21 CNY 21.20
BAZHONG STATE-OWNED AS 8.50 04/25/21 CNY 20.77
BEIJING BIOMEDICINE IN 6.35 07/23/20 CNY 20.40
BEIJING BIOMEDICINE IN 6.35 07/23/20 CNY 20.12
BEIJING CAPITAL DEVELO 6.50 02/27/21 CNY 20.83
BEIJING CAPITAL DEVELO 6.50 02/27/21 CNY 20.54
BEIJING CAPITAL DEVELO 7.19 01/15/21 CNY 20.60
BEIJING CAPITAL DEVELO 7.19 01/15/21 CNY 20.00
BEIJING CHANGXIN CONST 6.74 04/22/21 CNY 20.80
BEIJING FUTURE SCIENCE 4.20 08/13/22 CNY 61.13
BEIJING FUTURE SCIENCE 4.20 08/13/22 CNY 60.90
BEIJING GUCAI GROUP CO 6.60 09/06/20 CNY 23.68
BEIJING GUCAI GROUP CO 6.60 09/06/20 CNY 20.16
BEIJING HAIDIAN STATE- 5.50 08/07/20 CNY 20.15
BEIJING HAIDIAN STATE- 5.50 08/07/20 CNY 20.11
BEIJING JINGMEI GROUP 6.14 09/09/20 CNY 20.28
BEIJING JINGMEI GROUP 6.14 09/09/20 CNY 20.27
BEIJING JINLIYUAN STAT 7.00 10/28/20 CNY 20.42
BEIJING JINLIYUAN STAT 7.00 10/28/20 CNY 20.00
BEIJING SHIJINGSHAN ST 6.08 08/18/21 CNY 43.87
BEIJING SHIJINGSHAN ST 6.08 08/18/21 CNY 41.11
BEIJING XINCHENG INFRA 7.50 04/21/21 CNY 20.82
BEIJING XINGZHAN INVES 6.66 04/24/21 CNY 20.75
BEIPIAO CITY CONSTRUCT 6.70 03/25/23 CNY 63.45
BEIPIAO CITY CONSTRUCT 6.70 03/25/23 CNY 52.56
BENGBU GAOXIN INVESTME 8.70 04/17/21 CNY 20.75
BENGBU GAOXIN INVESTME 8.70 04/17/21 CNY 20.00
BENXI URBAN CONSTRUCTI 6.24 01/22/22 CNY 40.60
BENXI URBAN CONSTRUCTI 6.24 01/22/22 CNY 40.00
BIJIE CONSTRUCTION INV 6.50 01/28/22 CNY 45.65
BIJIE CONSTRUCTION INV 6.50 01/28/22 CNY 41.26
BIJIE KAIYUAN CONSTRUC 7.78 02/25/21 CNY 30.00
BIJIE KAIYUAN CONSTRUC 7.78 02/25/21 CNY 20.58
BINZHOU HI-TECH DEVELO 8.60 01/10/21 CNY 23.40
BINZHOU HI-TECH DEVELO 8.60 01/10/21 CNY 20.53
BINZHOU ZHONGHAI VENTU 6.65 04/13/22 CNY 40.95
BINZHOU ZHONGHAI VENTU 6.65 04/13/22 CNY 40.00
BORALA MONGOL AUTONOMO 5.77 08/26/22 CNY 61.22
BORALA MONGOL AUTONOMO 5.77 08/26/22 CNY 59.50
BORALA MONGOL AUTONOMO 7.18 08/09/20 CNY 20.17
BORALA MONGOL AUTONOMO 7.18 08/09/20 CNY 20.00
BOZHOU URBAN CONSTRUCT 4.78 04/14/23 CNY 61.73
BOZHOU URBAN CONSTRUCT 4.78 04/14/23 CNY 60.86
CANGNAN COUNTY STATE O 5.58 11/11/22 CNY 68.00
CANGNAN COUNTY STATE O 5.58 11/11/22 CNY 60.60
CEFC SHANGHAI INTERNAT 4.08 09/09/21 CNY 60.00
CEFC SHANGHAI INTERNAT 4.98 12/10/20 CNY 61.29
CHANG DE DING LI INDUS 4.30 03/10/23 CNY 61.11
CHANG DE DING LI INDUS 4.30 03/10/23 CNY 60.96
CHANGCHUN MODERN AGRIC 7.00 07/25/21 CNY 40.72
CHANGCHUN MODERN AGRIC 7.00 07/25/21 CNY 38.00
CHANGDE ECONOMIC CONST 7.00 03/24/21 CNY 21.40
CHANGDE ECONOMIC CONST 7.00 03/24/21 CNY 20.66
CHANGDE URBAN CONSTRUC 3.59 01/12/23 CNY 60.64
CHANGDE URBAN CONSTRUC 3.59 01/12/23 CNY 60.40
CHANGLE COUNTY NEWTOWN 5.18 12/16/22 CNY 62.03
CHANGLE COUNTY NEWTOWN 5.18 12/16/22 CNY 60.84
CHANGSHA COUNTY XINGCH 7.90 03/25/22 CNY 42.89
CHANGSHA COUNTY XINGCH 7.90 03/25/22 CNY 42.80
CHANGSHA ECONOMIC & TE 8.45 04/13/22 CNY 31.50
CHANGSHA FURONG CITY D 3.88 01/26/23 CNY 61.53
CHANGSHA FURONG CITY D 3.88 01/26/23 CNY 59.73
CHANGSHA METRO GROUP C 6.20 04/23/23 CNY 47.87
CHANGSHA METRO GROUP C 6.20 04/23/23 CNY 45.80
CHANGSHA TIANXIN CITY 4.20 11/06/22 CNY 60.59
CHANGSHA TIANXIN CITY 4.20 11/06/22 CNY 60.10
CHANGSHA YUHUA URBAN C 3.80 01/28/23 CNY 60.34
CHANGSHA YUHUA URBAN C 3.80 01/28/23 CNY 59.77
CHANGSHA YUHUA URBAN C 7.17 04/18/21 CNY 24.00
CHANGSHA YUHUA URBAN C 7.17 04/18/21 CNY 20.80
CHANGSHU BINJIANG URBA 6.39 09/11/21 CNY 40.67
CHANGSHU BINJIANG URBA 6.39 09/11/21 CNY 40.00
CHANGSHU DONGNAN ASSET 6.53 03/26/22 CNY 47.32
CHANGSHU DONGNAN ASSET 6.53 03/26/22 CNY 41.69
CHANGSHU TRANSPORTATIO 7.00 04/29/21 CNY 40.92
CHANGSHU TRANSPORTATIO 7.00 04/29/21 CNY 27.00
CHANGXING COUNTY TRANS 6.75 06/16/21 CNY 40.70
CHANGXING COUNTY TRANS 7.88 04/30/21 CNY 40.95
CHANGXING COUNTY TRANS 7.88 04/30/21 CNY 30.30
CHANGXING URBAN CONSTR 6.00 12/03/21 CNY 40.59
CHANGXING URBAN CONSTR 6.00 12/03/21 CNY 39.00
CHANGZHOU BINHU CONSTR 8.04 12/12/20 CNY 20.62
CHANGZHOU BINHU CONSTR 8.04 12/12/20 CNY 20.00
CHANGZHOU PUBLIC HOUSI 6.64 07/02/21 CNY 40.52
CHANGZHOU PUBLIC HOUSI 6.64 07/02/21 CNY 40.50
CHANGZHOU TIANNING CON 6.48 02/12/22 CNY 41.45
CHANGZHOU TIANNING CON 6.48 02/12/22 CNY 40.00
CHAOHU URBAN TOWN CONS 6.50 04/30/22 CNY 42.11
CHAOHU URBAN TOWN CONS 6.50 04/30/22 CNY 42.10
CHENGDU ECONOMIC & TEC 6.90 05/30/21 CNY 46.00
CHENGDU ECONOMIC & TEC 6.90 05/30/21 CNY 40.91
CHENGDU GARDEN WATER C 6.15 05/03/23 CNY 60.63
CHENGDU KONGGANG CITY 6.92 07/30/20 CNY 25.50
CHENGDU KONGGANG CITY 6.92 07/30/20 CNY 25.20
CHENGDU LONGBO INVESTM 8.10 04/24/21 CNY 20.65
CHENGDU LONGBO INVESTM 8.10 04/24/21 CNY 20.30
CHENGDU PIDU DISTRICT 6.95 04/01/22 CNY 48.83
CHENGDU PIDU DISTRICT 6.95 04/01/22 CNY 41.70
CHENGDU PIDU DISTRICT 7.25 10/15/20 CNY 20.35
CHENGDU PIDU DISTRICT 7.25 10/15/20 CNY 18.50
CHENGDU SHUZHOU CITY C 6.58 05/26/22 CNY 61.29
CHENGDU SHUZHOU CITY C 6.58 05/26/22 CNY 59.30
CHENGDU XINGCHENGJIAN 6.00 03/20/22 CNY 41.60
CHENGDU XINGCHENGJIAN 6.00 03/20/22 CNY 40.00
CHENGDU XINKAIYUAN URB 5.29 04/27/23 CNY 81.28
CHENGDU XINKAIYUAN URB 5.29 04/27/23 CNY 61.23
CHENGDU XINKAIYUAN URB 7.43 08/12/21 CNY 41.19
CHENGDU XINKAIYUAN URB 7.43 08/12/21 CNY 41.00
CHENGFA INVESTMENT GRO 6.87 04/30/21 CNY 21.37
CHENGFA INVESTMENT GRO 6.87 04/30/21 CNY 20.78
CHENZHOU BAIFU INVESTM 6.54 08/28/21 CNY 40.25
CHENZHOU BAIFU INVESTM 6.54 08/28/21 CNY 40.24
CHENZHOU FUCHENG HIGH 4.73 01/22/23 CNY 60.68
CHENZHOU FUCHENG HIGH 4.73 01/22/23 CNY 59.92
CHENZHOU INDUSTRY INVE 6.45 01/23/22 CNY 48.60
CHENZHOU INDUSTRY INVE 6.45 01/23/22 CNY 39.92
CHENZHOU XINTIAN INVES 5.38 03/08/26 CNY 74.96
CHENZHOU XINTIAN INVES 6.15 04/24/22 CNY 39.41
CHENZHOU XINTIAN INVES 6.30 07/17/20 CNY 20.00
CHENZHOU XINTIAN INVES 6.30 07/17/20 CNY 20.00
CHINA GRAND AUTOMOTIVE 8.63 04/08/22 USD 81.25
CHINA MINSHENG INVESTM 7.00 12/26/20 CNY 36.65
CHINA OCEANWIDE HOLDIN 8.90 12/13/21 CNY 55.00
CHINA SECURITY CO LTD 4.45 11/11/19 CNY 31.00
CHINA YIXING ENVIRONME 7.10 10/18/20 CNY 20.40
CHINA YIXING ENVIRONME 7.10 10/18/20 CNY 20.36
CHONGQIN BAIYAN INVEST 5.75 05/03/23 CNY 61.58
CHONGQIN XINLIANG INVE 4.76 08/26/23 CNY 75.82
CHONGQIN XINLIANG INVE 4.76 08/26/23 CNY 56.59
CHONGQING BANAN ECONOM 6.17 03/13/22 CNY 41.40
CHONGQING BANAN ECONOM 6.17 03/13/22 CNY 41.07
CHONGQING BANAN ECONOM 7.00 08/20/21 CNY 41.10
CHONGQING BANAN ECONOM 7.00 08/20/21 CNY 41.01
CHONGQING BEICHENG CON 7.30 10/16/20 CNY 20.35
CHONGQING BEICHENG CON 7.30 10/16/20 CNY 20.30
CHONGQING BISHAN DISTR 4.93 03/29/23 CNY 61.25
CHONGQING BISHAN DISTR 4.93 03/29/23 CNY 61.10
CHONGQING CHANGSHOU EC 7.20 07/15/21 CNY 40.79
CHONGQING CHANGSHOU EC 7.10 06/19/21 CNY 40.68
CHONGQING CHANGSHOU EC 7.10 06/19/21 CNY 40.00
CHONGQING CITY CONSTRU 5.12 05/21/20 CNY 20.25
CHONGQING CITY CONSTRU 5.12 05/21/20 CNY 20.01
CHONGQING DASUN ASSET 6.98 09/10/20 CNY 20.24
CHONGQING DAZU INDUSTR 6.30 04/28/22 CNY 60.63
CHONGQING DAZU INDUSTR 6.30 04/28/22 CNY 40.00
CHONGQING ECO&TECH DEV 3.95 04/13/23 CNY 61.00
CHONGQING ECO&TECH DEV 3.95 04/13/23 CNY 60.46
CHONGQING FULING DISTR 7.89 03/20/21 CNY 27.33
CHONGQING FULING DISTR 7.89 03/20/21 CNY 20.84
CHONGQING FULING TRAFF 6.68 02/03/22 CNY 40.89
CHONGQING FULING TRAFF 6.68 02/03/22 CNY 40.00
CHONGQING GAOXIN ZONE 7.80 04/25/21 CNY 40.98
CHONGQING GAOXIN ZONE 7.80 04/25/21 CNY 30.80
CHONGQING GARDENING IN 8.45 06/03/21 CNY 40.96
CHONGQING GARDENING IN 8.45 06/03/21 CNY 40.00
CHONGQING HAOJIANG CON 8.05 03/06/21 CNY 20.55
CHONGQING HAOJIANG CON 8.05 03/06/21 CNY 20.00
CHONGQING HAOJIANG CON 7.99 11/22/20 CNY 20.33
CHONGQING HAOJIANG CON 7.99 11/22/20 CNY 20.00
CHONGQING HECHUAN CITY 7.30 07/07/21 CNY 41.10
CHONGQING HECHUAN CITY 7.30 07/07/21 CNY 41.00
CHONGQING HECHUAN INDU 6.19 06/17/20 CNY 20.32
CHONGQING HECHUAN INDU 6.19 06/17/20 CNY 20.04
CHONGQING HONGYE INDUS 6.30 06/03/20 CNY 25.00
CHONGQING HONGYE INDUS 6.30 06/03/20 CNY 20.08
CHONGQING INTERNATIONA 7.08 10/18/20 CNY 20.50
CHONGQING INTERNATIONA 7.08 10/18/20 CNY 20.36
CHONGQING JIANGBEIZUI 6.50 07/21/21 CNY 40.90
CHONGQING JINYUN ASSET 4.50 12/31/22 CNY 60.70
CHONGQING JINYUN ASSET 4.50 12/31/22 CNY 60.00
CHONGQING JIULONG HI-T 6.60 08/19/21 CNY 40.99
CHONGQING JIULONG HI-T 6.60 08/19/21 CNY 40.88
CHONGQING KAIQIAN INVE 4.64 03/21/23 CNY 59.62
CHONGQING KAIQIAN INVE 4.64 03/21/23 CNY 59.05
CHONGQING KANGDA ENVIR 7.00 12/18/22 CNY 70.00
CHONGQING LAND PROPERT 3.36 03/21/23 CNY 60.68
CHONGQING LAND PROPERT 3.36 03/21/23 CNY 60.10
CHONGQING LAND PROPERT 6.30 08/22/20 CNY 20.23
CHONGQING LIANGJIANG N 5.88 09/16/21 CNY 41.19
CHONGQING LIANGJIANG N 5.88 09/16/21 CNY 41.12
CHONGQING LIANGJIANG N 3.10 08/05/21 CNY 70.38
CHONGQING LIANGJIANG N 6.70 04/25/21 CNY 22.72
CHONGQING LIANGJIANG N 6.70 04/25/21 CNY 20.81
CHONGQING LIANGJIANG N 3.60 04/19/21 CNY 40.82
CHONGQING LIANGJIANG N 3.60 04/19/21 CNY 40.65
CHONGQING LIANGJIANG N 3.17 01/13/21 CNY 40.41
CHONGQING LIANGJIANG N 3.17 01/13/21 CNY 40.02
CHONGQING MAIRUI URBAN 4.95 04/21/23 CNY 61.88
CHONGQING MAIRUI URBAN 4.95 04/21/23 CNY 61.57
CHONGQING QIANJIANG CI 8.00 03/21/21 CNY 21.70
CHONGQING QIANJIANG CI 8.00 03/21/21 CNY 20.58
CHONGQING SHUANGFU CON 7.49 10/23/20 CNY 20.37
CHONGQING SHUANGFU CON 7.49 10/23/20 CNY 20.00
CHONGQING SHUANGQIAO E 5.99 11/19/21 CNY 46.25
CHONGQING SHUANGQIAO E 5.99 11/19/21 CNY 40.76
CHONGQING TAX FREE POR 7.50 04/24/21 CNY 21.70
CHONGQING TAX FREE POR 7.50 04/24/21 CNY 20.85
CHONGQING TEA GARDEN I 7.70 05/20/21 CNY 40.68
CHONGQING TONGLIANG JI 6.59 04/08/22 CNY 41.39
CHONGQING TONGLIANG JI 6.59 04/08/22 CNY 40.00
CHONGQING TONGNAN DIST 4.99 12/31/22 CNY 60.83
CHONGQING TONGNAN DIST 4.99 12/31/22 CNY 60.00
CHONGQING WANSHENG ECO 6.95 08/25/21 CNY 45.00
CHONGQING WANSHENG ECO 6.95 08/25/21 CNY 40.52
CHONGQING WANSHENG ECO 8.19 04/08/21 CNY 23.90
CHONGQING WANSHENG ECO 8.19 04/08/21 CNY 20.64
CHONGQING WANSHENG ECO 5.40 11/18/21 CNY 69.90
CHONGQING WANZHOU SANX 4.95 08/25/22 CNY 61.51
CHONGQING XINGRONG HOL 4.86 03/31/23 CNY 62.91
CHONGQING XINGRONG HOL 4.86 03/31/23 CNY 60.16
CHONGQING XIYONG MICRO 6.58 07/25/21 CNY 42.33
CHONGQING XIYONG MICRO 6.58 07/25/21 CNY 41.05
CHONGQING YONGCHUAN HU 7.28 05/30/21 CNY 41.60
CHONGQING YONGCHUAN HU 7.28 05/30/21 CNY 40.87
CHONGQING YUELAI INVES 6.09 04/29/22 CNY 41.86
CHONGQING YUELAI INVES 6.09 04/29/22 CNY 40.00
CHONGQING YUNAN ASSET 7.05 06/17/21 CNY 40.76
CHONGQING YUNAN ASSET 7.05 06/17/21 CNY 40.70
CHONGQING YUZHONG STAT 7.25 02/26/21 CNY 20.64
CHONGQING YUZHONG STAT 7.25 02/26/21 CNY 20.57
CHUN'AN XINANJIANG DEV 6.10 03/11/22 CNY 44.55
CHUN'AN XINANJIANG DEV 6.10 03/11/22 CNY 41.45
CHUZHOU CITY CONSTRUCT 6.17 11/30/21 CNY 61.66
CHUZHOU CITY CONSTRUCT 6.40 08/22/21 CNY 41.27
CITIC GUOAN GROUP CORP 4.49 03/08/21 CNY 18.25
CITIC GUOAN GROUP CORP 4.23 12/15/20 CNY 38.49
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 48.80
CIXI CITY CONSTRUCTION 6.18 08/18/21 CNY 41.02
DALI ECONOMIC DEVELOPM 7.90 03/04/21 CNY 20.44
DALI ECONOMIC DEVELOPM 7.90 03/04/21 CNY 20.00
DALI ECONOMIC DEVELOPM 8.30 12/11/20 CNY 20.60
DALI ECONOMIC DEVELOPM 8.30 12/11/20 CNY 20.43
DALI HAIDONG DEVELOPME 6.01 01/25/23 CNY 60.01
DALI HAIDONG DEVELOPME 6.01 01/25/23 CNY 59.00
DALIAN PULANDIAN CONST 3.80 01/25/23 CNY 57.76
DALIAN PULANDIAN CONST 3.80 01/25/23 CNY 57.00
DALIAN PUWAN ENGINEERI 4.50 02/01/23 CNY 58.72
DALIAN PUWAN ENGINEERI 4.50 02/01/23 CNY 52.11
DALIAN PUWAN ENGINEERI 7.09 02/20/21 CNY 19.68
DALIAN PUWAN ENGINEERI 7.09 02/20/21 CNY 19.64
DALIAN RONGDA INVESTME 5.69 12/05/21 CNY 41.00
DALIAN RONGDA INVESTME 5.69 12/05/21 CNY 40.98
DALIAN RONGQIANG INVES 7.92 04/14/21 CNY 20.60
DALIAN RONGQIANG INVES 7.92 04/14/21 CNY 20.59
DALIAN RONGQIANG INVES 8.60 01/20/21 CNY 20.55
DALIAN RONGQIANG INVES 8.60 01/20/21 CNY 20.54
DANDONG PORT GROUP CO 5.50 01/27/21 CNY 59.00
DANGTU COUNTY CONSTRUC 5.38 08/10/22 CNY 63.00
DANGTU COUNTY CONSTRUC 5.38 08/10/22 CNY 61.57
DANGYANG XINYUAN INVES 4.97 03/29/23 CNY 60.37
DANGYANG XINYUAN INVES 4.97 03/29/23 CNY 60.11
DANGYANG XINYUAN INVES 7.99 05/23/21 CNY 40.00
DANYANG HI-TECH INDUST 6.40 04/24/22 CNY 40.00
DANYANG HI-TECH INDUST 6.40 04/24/22 CNY 39.72
DANYANG INVESTMENT GRO 3.99 01/25/23 CNY 60.50
DANYANG INVESTMENT GRO 6.90 10/23/20 CNY 20.36
DANYANG INVESTMENT GRO 6.90 10/23/20 CNY 20.15
DATONG ECONOMIC CONSTR 4.49 10/22/22 CNY 61.32
DATONG ECONOMIC CONSTR 4.49 10/22/22 CNY 61.20
DAWA COUNTY CITY CONST 6.29 06/12/22 CNY 62.50
DAWA COUNTY CITY CONST 6.29 06/12/22 CNY 59.53
DAYE ZHENHENG CITY DEV 4.50 03/28/23 CNY 59.99
DAYE ZHENHENG CITY DEV 4.50 03/28/23 CNY 59.46
DAYE ZHENHENG CITY DEV 7.30 03/03/21 CNY 23.53
DAYE ZHENHENG CITY DEV 7.30 03/03/21 CNY 20.64
DAYE ZHENHENG CITY DEV 7.95 11/27/20 CNY 20.55
DAZHOU DEVELOPMENT HOL 5.10 11/27/22 CNY 61.10
DAZHOU DEVELOPMENT HOL 5.10 11/27/22 CNY 60.00
DAZHOU DEVELOPMENT HOL 6.55 01/14/22 CNY 41.04
DAZHOU DEVELOPMENT HOL 6.55 01/14/22 CNY 40.00
DEHONGZHOU HONGKANG IN 6.68 01/23/22 CNY 40.88
DEHONGZHOU HONGKANG IN 6.68 01/23/22 CNY 40.85
DEXING INVESTMENT HOLD 5.99 03/21/23 CNY 60.60
DEXING INVESTMENT HOLD 5.99 03/21/23 CNY 60.00
DEYANG ECONOMIC DEVELO 7.90 04/28/21 CNY 28.26
DEYANG ECONOMIC DEVELO 7.90 04/28/21 CNY 20.52
DONGLING GROUP INC CO 8.00 07/14/22 CNY 62.13
DONGLING GROUP INC CO 8.00 07/14/22 CNY 60.00
DONGTAI UBAN CONSTRUCT 7.58 04/23/21 CNY 28.48
DONGTAI UBAN CONSTRUCT 7.58 04/23/21 CNY 20.70
DONGTAI UBAN CONSTRUCT 8.65 01/13/21 CNY 20.83
DONGTAI UBAN CONSTRUCT 8.65 01/13/21 CNY 20.54
DONGYING CITY URBAN AS 5.57 03/31/22 CNY 41.58
DONGYING CITY URBAN AS 5.57 03/31/22 CNY 41.13
DR PENG HOLDING HONGKO 5.05 06/01/20 USD 55.56
DUJIANGYAN XINGYAN INV 6.10 03/12/22 CNY 40.00
DUJIANGYAN XINGYAN INV 6.10 03/12/22 CNY 39.40
DUNYUN STATE-OWNED ASS 6.60 12/28/22 CNY 60.33
EASTAR HOLDINGS GROUP 7.30 10/31/20 CNY 63.00
ENSHI URBAN CONSTRUCTI 7.50 06/03/21 CNY 47.54
ENSHI URBAN CONSTRUCTI 7.50 06/03/21 CNY 40.90
EZHOU CITY CONSTRUCTIO 6.68 09/19/21 CNY 41.00
EZHOU CITY CONSTRUCTIO 6.68 09/19/21 CNY 40.63
EZHOU CITY CONSTRUCTIO 7.76 05/15/21 CNY 46.50
EZHOU CITY CONSTRUCTIO 7.76 05/15/21 CNY 41.06
FANGCHENGGANG CITY GAN 8.09 04/16/21 CNY 22.00
FANGCHENGGANG CITY GAN 8.09 04/16/21 CNY 20.71
FEICHENG CITY ASSETS M 4.04 03/23/23 CNY 60.46
FEICHENG CITY ASSETS M 4.04 03/23/23 CNY 60.23
FENGCHENG CITY CONSTRU 6.49 02/10/22 CNY 44.49
FENGCHENG CITY CONSTRU 6.49 02/10/22 CNY 41.10
FENGCHENG CITY MODERN 5.76 12/17/22 CNY 60.00
FENGCHENG CITY MODERN 5.76 12/17/22 CNY 59.93
FENGXIAN URBAN INVESTM 6.48 03/20/22 CNY 41.02
FENGXIAN URBAN INVESTM 6.48 03/20/22 CNY 40.00
FENGXIAN URBAN INVESTM 4.23 07/13/21 CNY 55.52
FENGXIAN URBAN INVESTM 4.23 07/13/21 CNY 55.03
FUGU COUNTY STATE-OWNE 8.69 12/16/20 CNY 20.59
FUGU COUNTY STATE-OWNE 8.69 12/16/20 CNY 20.00
FUGUINIAO CO LTD 6.30 04/22/20 CNY 13.00
FUJIAN JINJIANG INDUST 7.08 06/27/21 CNY 40.97
FUJIAN PROVINCE LIANJI 6.29 04/30/22 CNY 41.43
FUJIAN PROVINCE LIANJI 6.29 04/30/22 CNY 40.00
FUJIAN ZHANGLONG GROUP 4.99 08/07/22 CNY 61.62
FUJIAN ZHANGLONG GROUP 4.99 08/07/22 CNY 60.00
FUNING URBAN INVESTMEN 7.19 08/15/21 CNY 41.15
FUNING URBAN INVESTMEN 7.19 08/15/21 CNY 41.09
FUQING CITY STATE-OWNE 5.94 11/26/22 CNY 57.26
FUQING CITY STATE-OWNE 6.66 03/01/21 CNY 25.40
FUXIN INFRASTRUCTURE C 6.18 03/18/22 CNY 42.80
FUXIN INFRASTRUCTURE C 6.18 03/18/22 CNY 40.48
FUZHOU CHANGLE DISTRIC 4.50 04/11/23 CNY 60.30
FUZHOU CHANGLE DISTRIC 4.50 04/11/23 CNY 59.66
FUZHOU URBAN AND RURAL 4.89 07/08/22 CNY 61.52
FUZHOU URBAN AND RURAL 4.89 07/08/22 CNY 60.00
FUZHOU URBAN AND RURAL 5.48 01/26/22 CNY 41.14
FUZHOU URBAN AND RURAL 5.48 01/26/22 CNY 40.00
GANZHOU CITY DEVELOPME 5.50 06/16/22 CNY 61.80
GANZHOU CITY DEVELOPME 5.50 06/16/22 CNY 60.00
GANZHOU DEVELOPMENT ZO 7.43 02/19/21 CNY 20.68
GANZHOU DEVELOPMENT ZO 7.43 02/19/21 CNY 19.00
GAOMI STATE-OWNED ASSE 4.69 01/26/23 CNY 61.22
GAOMI STATE-OWNED ASSE 4.69 01/26/23 CNY 61.14
GAOYOU CITY CONSTRUCTI 5.48 09/15/22 CNY 61.42
GAOYOU CITY CONSTRUCTI 5.48 09/15/22 CNY 60.00
GOLMUD INVESTMENT HOLD 8.70 12/30/20 CNY 20.52
GOLMUD INVESTMENT HOLD 8.70 12/30/20 CNY 20.30
GONGQINGCHENG FINANCIA 5.85 03/25/23 CNY 62.42
GONGQINGCHENG FINANCIA 5.85 03/25/23 CNY 58.79
GOOCOO INVESTMENT CO L 8.00 02/01/21 CNY 50.00
GREENLAND HOLDING GROU 6.24 05/23/20 CNY 25.06
GREENLAND HOLDING GROU 6.24 05/23/20 CNY 25.04
GUANGAN DEVELOPMENT AN 6.39 03/24/22 CNY 44.00
GUANGAN DEVELOPMENT AN 6.39 03/24/22 CNY 41.42
GUANGAN ECONOMIC & TEC 5.16 04/14/23 CNY 60.74
GUANGAN ECONOMIC & TEC 5.16 04/14/23 CNY 60.20
GUANGAN ECONOMIC & TEC 7.10 09/22/21 CNY 40.80
GUANGAN ECONOMIC & TEC 7.10 09/22/21 CNY 40.79
GUANGDONG TAIANTANG PH 4.98 02/02/21 CNY 69.00
GUANGXI BAISE DEVELOPM 7.27 06/20/21 CNY 40.40
GUANGXI LAIBIN INDUSTR 5.97 11/26/21 CNY 40.92
GUANGXI LAIBIN INDUSTR 5.97 11/26/21 CNY 40.00
GUANGXI LIUZHOU DONGCH 7.40 10/29/20 CNY 21.00
GUANGXI LIUZHOU DONGCH 7.40 10/29/20 CNY 20.18
GUANGXI QINZHOU LINHAI 7.68 02/20/21 CNY 24.77
GUANGXI QINZHOU LINHAI 7.68 02/20/21 CNY 20.45
GUANGXI URBAN CONSTRUC 7.59 04/14/21 CNY 23.00
GUANGXI URBAN CONSTRUC 7.59 04/14/21 CNY 20.66
GUANGYUAN INVESTMENT H 7.30 04/22/21 CNY 21.15
GUANGYUAN INVESTMENT H 7.30 04/22/21 CNY 20.54
GUANGYUAN YUANQU CONST 4.48 03/10/23 CNY 60.95
GUANGYUAN YUANQU CONST 4.48 03/10/23 CNY 59.99
GUANGYUAN YUANQU CONST 8.35 08/26/21 CNY 47.00
GUANGYUAN YUANQU CONST 8.35 08/26/21 CNY 41.35
GUANGZHOU HUANTOU NANS 6.38 11/18/24 CNY 74.20
GUANGZHOU METRO GROUP 6.05 06/03/24 CNY 73.62
GUANGZHOU METRO GROUP 6.45 04/02/24 CNY 64.46
GUANGZHOU METRO GROUP 6.45 04/02/24 CNY 60.00
GUILIN CITY INVESTMENT 6.90 06/13/21 CNY 40.55
GUILIN CITY INVESTMENT 6.90 06/13/21 CNY 40.00
GUILIN ECONOMIC CONSTR 5.60 04/22/22 CNY 41.50
GUILIN ECONOMIC CONSTR 5.60 04/22/22 CNY 40.00
GUIRENNIAO CO LTD 7.00 12/03/19 CNY 49.50
GUIYANG BAIYUN INDUSTR 7.30 03/27/22 CNY 45.00
GUIYANG BAIYUN INDUSTR 7.30 03/27/22 CNY 41.80
GUIYANG GUANSHANHU DIS 4.48 03/09/23 CNY 59.83
GUIYANG GUANSHANHU DIS 4.48 03/09/23 CNY 59.29
GUIYANG GUANSHANHU DIS 4.87 01/28/23 CNY 60.19
GUIYANG GUANSHANHU DIS 4.87 01/28/23 CNY 59.78
GUIYANG URBAN CONSTRUC 5.23 12/02/22 CNY 59.65
GUIYANG URBAN CONSTRUC 5.23 12/02/22 CNY 59.40
GUIZHOU EAST LAKE CITY 5.18 01/06/23 CNY 61.52
GUIZHOU EAST LAKE CITY 5.18 01/06/23 CNY 57.97
GUIZHOU FANJINGSHAN IN 6.95 01/28/22 CNY 41.13
GUIZHOU FANJINGSHAN IN 6.95 01/28/22 CNY 40.00
GUIZHOU GUIAN CONSTRUC 4.17 10/28/22 CNY 61.00
GUIZHOU GUIAN CONSTRUC 4.17 10/28/22 CNY 60.89
GUIZHOU GUILONG INDUST 7.80 04/28/22 CNY 52.21
GUIZHOU GUILONG INDUST 7.80 04/28/22 CNY 51.43
GUIZHOU HONGCAI INVEST 6.00 06/07/23 CNY 73.78
GUIZHOU HONGCAI INVEST 6.00 06/07/23 CNY 73.72
GUIZHOU RAILWAY INVEST 7.50 04/23/24 CNY 65.85
GUIZHOU RAILWAY INVEST 7.50 04/23/24 CNY 65.75
GUIZHOU RAILWAY INVEST 7.20 03/27/22 CNY 42.50
GUIZHOU RAILWAY INVEST 7.20 03/27/22 CNY 42.02
GUIZHOU SHUICHENG CITY 4.98 11/22/23 CNY 72.67
HAIAN COUNTY DEVELOPME 5.45 04/13/23 CNY 59.66
HAIAN COUNTY DEVELOPME 5.45 04/13/23 CNY 58.04
HAIAN URBAN DEMOLITION 5.08 11/27/22 CNY 61.64
HAIAN URBAN DEMOLITION 5.08 11/27/22 CNY 60.88
HAICHENG URBAN JINCAI 8.17 04/16/21 CNY 20.33
HAICHENG URBAN JINCAI 8.17 04/16/21 CNY 20.10
HAICHENG URBAN JINCAI 8.56 12/19/20 CNY 20.46
HAICHENG URBAN JINCAI 8.56 12/19/20 CNY 20.00
HAIFENG MARINE INFRAST 6.84 04/29/22 CNY 40.82
HAIFENG MARINE INFRAST 6.84 04/29/22 CNY 40.00
HAIKOU MEILAN INTERNAT 5.25 09/06/19 USD 59.11
HAIMEN CITY DEVELOPMEN 6.22 04/03/22 CNY 42.20
HAIMEN CITY DEVELOPMEN 6.22 04/03/22 CNY 41.93
HAINING CITY DEVELOPME 5.58 10/22/21 CNY 41.24
HAINING CITY DEVELOPME 5.58 10/22/21 CNY 41.00
HAINING CITY JIANSHAN 6.90 11/04/20 CNY 21.42
HAINING CITY JIANSHAN 6.90 11/04/20 CNY 20.36
HAIXI STATE-OWNED CAPI 8.60 01/02/21 CNY 20.48
HAIYAN COUNTY STATE-OW 7.00 09/04/20 CNY 20.25
HANDAN CONSTRUCTION & 5.48 05/27/22 CNY 67.20
HANDAN CONSTRUCTION & 5.48 05/27/22 CNY 61.44
HANGZHOU FUYANG CITY C 7.20 03/19/21 CNY 20.75
HANGZHOU FUYANG CITY C 7.20 03/19/21 CNY 20.74
HANGZHOU FUYANG DEVELO 4.76 01/27/23 CNY 61.03
HANGZHOU FUYANG DEVELO 4.76 01/27/23 CNY 59.96
HANGZHOU FUYANG DEVELO 7.70 04/28/21 CNY 40.92
HANGZHOU FUYANG DEVELO 7.70 04/28/21 CNY 29.00
HANGZHOU GONGSHU DISTR 6.90 07/21/21 CNY 41.23
HANGZHOU GONGSHU DISTR 6.90 07/21/21 CNY 40.40
HANGZHOU LOWER DISTRIC 3.80 03/14/23 CNY 61.07
HANGZHOU LOWER DISTRIC 3.80 03/14/23 CNY 60.00
HANGZHOU WEST LAKE INV 4.30 04/25/23 CNY 61.48
HANGZHOU WEST LAKE INV 4.30 04/25/23 CNY 60.85
HANGZHOU XIAOSHAN ECO& 6.90 05/13/21 CNY 40.99
HANGZHOU XIAOSHAN QIAN 4.00 03/22/23 CNY 61.41
HANGZHOU XIAOSHAN QIAN 4.00 03/22/23 CNY 61.37
HANGZHOU YUHANG CITY C 7.00 03/03/21 CNY 20.84
HANGZHOU YUHANG ECONOM 7.45 03/03/21 CNY 20.75
HANGZHOU YUHANG ECONOM 7.45 03/03/21 CNY 20.66
HANGZHOU YUHANG TRANSP 7.19 04/18/21 CNY 21.85
HANGZHOU YUHANG TRANSP 7.19 04/18/21 CNY 20.77
HANJIANG STATE-OWNED-A 7.30 11/11/20 CNY 26.60
HANJIANG STATE-OWNED-A 7.30 11/11/20 CNY 20.49
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 CO 4.10 11/16/21 CNY 60.07
HEBEI ZHONGYUE CITY CO 4.10 11/16/21 CNY 59.96
HEBI INVESTMENTS GROUP 7.88 08/01/21 CNY 41.03
HEBI INVESTMENTS GROUP 7.88 08/01/21 CNY 40.99
HECHI CITY CONSTRUCTIO 5.58 11/13/22 CNY 62.42
HECHI CITY CONSTRUCTIO 5.58 11/13/22 CNY 60.41
HEFEI CONSTRUCTION INV 7.20 04/29/24 CNY 66.11
HEFEI CONSTRUCTION INV 7.20 04/29/24 CNY 65.84
HEILONGJIANG HECHENG C 7.05 06/21/22 CNY 45.97
HEILONGJIANG HECHENG C 7.05 06/21/22 CNY 45.93
HEILONGJIANG HECHENG C 5.60 11/11/21 CNY 40.33
HEILONGJIANG HECHENG C 5.60 11/11/21 CNY 40.00
HEILONGJIANG POST-DISA 7.06 11/20/20 CNY 6.79
HEILONGJIANG POST-DISA 7.06 11/20/20 CNY 6.78
HEILONGJIANG POST-DISA 7.10 11/19/20 CNY 25.52
HEILONGJIANG POST-DISA 7.10 11/19/20 CNY 18.55
HEISHAN TONGHE ASSET M 6.79 09/18/22 CNY 59.67
HEISHAN TONGHE ASSET M 6.79 09/18/22 CNY 59.28
HENGYANG BAISHAZHOU DE 6.87 08/22/21 CNY 44.50
HENGYANG BAISHAZHOU DE 6.87 08/22/21 CNY 40.73
HENGYANG COMMUNICATION 4.28 01/21/23 CNY 60.18
HENGYANG COMMUNICATION 4.28 01/21/23 CNY 60.00
HENGYANG HONGXIANG STA 6.20 06/19/20 CNY 20.04
HENGYANG HONGXIANG STA 6.20 06/19/20 CNY 20.00
HENGYANG XIANGJIANG WA 7.40 04/23/21 CNY 21.10
HENGYANG XIANGJIANG WA 7.40 04/23/21 CNY 20.64
HETIAN YUXIN STATE-OWN 4.65 03/28/23 CNY 60.82
HETIAN YUXIN STATE-OWN 4.65 03/28/23 CNY 60.77
HEYUAN CITY RUNYE INVE 6.20 12/03/21 CNY 45.88
HEYUAN CITY RUNYE INVE 6.20 12/03/21 CNY 41.16
HEZE INVESTMENT DEVELO 7.14 03/24/21 CNY 20.95
HEZE INVESTMENT DEVELO 7.14 03/24/21 CNY 20.66
HEZHOU URBAN CONSTRUCT 8.16 05/16/21 CNY 41.32
HEZHOU URBAN CONSTRUCT 8.16 05/16/21 CNY 40.81
HNA GROUP CO LTD 5.99 11/27/22 CNY 29.10
HNA GROUP INTERNATIONA 6.25 10/05/21 USD 74.46
HONGHEZHOU ROAD DEVELO 6.27 05/06/20 CNY 20.00
HONGHEZHOU ROAD DEVELO 6.27 05/06/20 CNY 19.99
HUACHEN ENERGY CO LTD 6.63 05/18/20 USD 26.00
HUAIAN CITY HUAIAN DIS 4.63 05/03/23 CNY 61.13
HUAIAN CITY URBAN ASSE 5.70 04/23/22 CNY 41.54
HUAIAN CITY URBAN ASSE 5.70 04/23/22 CNY 41.39
HUAIAN CITY XUYI URBAN 5.10 04/15/23 CNY 59.80
HUAIAN CITY XUYI URBAN 5.10 04/15/23 CNY 59.56
HUAI'AN DEVELOPMENT HO 7.30 03/10/21 CNY 27.84
HUAI'AN DEVELOPMENT HO 7.30 03/10/21 CNY 20.62
HUAIAN HONGRI TRANSPOR 5.09 04/20/23 CNY 58.72
HUAIAN HONGRI TRANSPOR 5.09 04/20/23 CNY 58.69
HUAI'AN NEW CITY INVES 6.95 07/28/21 CNY 47.50
HUAI'AN NEW CITY INVES 6.95 07/28/21 CNY 40.91
HUAI'AN NEW CITY INVES 7.45 03/04/21 CNY 20.48
HUAI'AN NEW CITY INVES 7.45 03/04/21 CNY 20.00
HUAIHUA CITY INDUSTRIA 7.70 10/29/20 CNY 20.20
HUAIHUA CITY INDUSTRIA 7.70 10/29/20 CNY 20.19
HUAIHUA ECONOMIC DEVEL 6.80 03/26/22 CNY 40.00
HUAIHUA ECONOMIC DEVEL 6.80 03/26/22 CNY 39.89
HUAIHUA TRANSPORTATION 4.96 04/12/23 CNY 60.07
HUAIHUA TRANSPORTATION 4.96 04/12/23 CNY 59.95
HUAINAN URBAN CONSTRUC 6.79 07/09/21 CNY 41.65
HUAINAN URBAN CONSTRUC 6.79 07/09/21 CNY 41.05
HUANGGANG CITY CONSTRU 4.08 01/18/23 CNY 61.22
HUANGGANG CITY CONSTRU 4.08 01/18/23 CNY 60.40
HUANGGANG CITY CONSTRU 7.45 03/04/21 CNY 20.80
HUANGGANG CITY CONSTRU 7.45 03/04/21 CNY 20.72
HUANGGANG CITY CONSTRU 8.60 12/25/20 CNY 20.62
HUANGGANG CITY CONSTRU 8.60 12/25/20 CNY 20.60
HUANGSHAN CHENGTOU GRO 5.95 05/06/22 CNY 60.65
HUANGSHAN CHENGTOU GRO 5.95 05/06/22 CNY 41.75
HUANGSHI CIHU HIGH-TEC 9.30 01/21/21 CNY 20.71
HUANGSHI CIHU HIGH-TEC 8.70 12/05/20 CNY 20.45
HUANGSHI URBAN CONSTRU 5.99 04/29/22 CNY 41.57
HUANGSHI URBAN CONSTRU 5.99 04/29/22 CNY 40.00
HUAWEN MEDIA GROUP 6.00 04/04/21 CNY 35.20
HUAWEN MEDIA GROUP 5.45 11/08/20 CNY 47.65
HUBEI PROVINCE CHANGJI 6.15 04/03/22 CNY 42.40
HUBEI PROVINCE CHANGJI 6.15 04/03/22 CNY 41.56
HULUDAO INVESTMENT GRO 7.50 10/18/23 CNY 63.23
HULUDAO INVESTMENT GRO 7.50 10/18/23 CNY 60.00
HULUDAO INVESTMENT GRO 7.05 10/18/20 CNY 20.52
HULUDAO INVESTMENT GRO 7.05 10/18/20 CNY 20.24
HULUNBEIER INVESTMENT 6.31 04/30/22 CNY 61.03
HULUNBEIER INVESTMENT 6.31 04/30/22 CNY 40.00
HUNAN CHANGDE DEYUAN I 6.50 06/16/21 CNY 42.25
HUNAN CHANGDE DEYUAN I 6.50 06/16/21 CNY 40.85
HUNAN CHUZHISHENG HOLD 5.60 12/18/22 CNY 61.96
HUNAN CHUZHISHENG HOLD 5.60 12/18/22 CNY 60.26
HUNAN JINYANG INVESTME 4.39 04/06/23 CNY 60.40
HUNAN JINYANG INVESTME 4.39 04/06/23 CNY 59.61
HUNAN JINYANG INVESTME 4.37 01/19/23 CNY 60.80
HUNAN JINYANG INVESTME 4.37 01/19/23 CNY 60.47
HUNAN JINYANG INVESTME 5.70 11/27/21 CNY 39.66
HUNAN JINYANG INVESTME 5.70 11/27/21 CNY 38.60
HUNAN LOUDI ECONOMIC & 4.89 03/30/23 CNY 56.42
HUNAN LOUDI ECONOMIC & 4.89 03/30/23 CNY 56.28
HUNAN LOUDI ECONOMIC & 6.36 03/13/22 CNY 47.00
HUNAN LOUDI ECONOMIC & 6.36 03/13/22 CNY 39.16
HUNAN PROVINCIAL RAILW 6.09 04/30/25 CNY 70.00
HUNAN SHAODONG ECO-IND 6.50 01/11/23 CNY 59.93
HUNAN SHAODONG ECO-IND 6.50 01/11/23 CNY 59.36
HUNAN TIER GROUP CO LT 4.20 03/17/23 CNY 58.79
HUNAN TIER GROUP CO LT 4.20 03/17/23 CNY 57.92
HUNAN TIER GROUP CO LT 7.10 03/03/21 CNY 20.95
HUNAN TIER GROUP CO LT 7.10 03/03/21 CNY 20.62
HUNAN TIER GROUP CO LT 8.00 12/23/20 CNY 22.72
HUNAN TIER GROUP CO LT 8.00 12/23/20 CNY 20.67
HUNAN XIANGJIANG NEW A 7.36 03/17/21 CNY 20.80
HUNAN XIANGJIANG NEW A 7.36 03/17/21 CNY 20.00
HUZHOU URBAN CONSTRUCT 6.48 08/28/21 CNY 42.38
HUZHOU URBAN CONSTRUCT 6.48 08/28/21 CNY 41.10
HUZHOU WUXING NANTAIHU 8.79 01/16/21 CNY 20.59
HUZHOU WUXING NANTAIHU 8.79 01/16/21 CNY 20.15
HUZHOU XISAISHAN DEVEL 7.80 04/29/21 CNY 20.84
HUZHOU XISAISHAN DEVEL 7.80 04/29/21 CNY 20.00
INNER MONGOLIA JINLONG 7.30 11/19/22 CNY 60.37
INNER MONGOLIA KE'ERQI 6.45 04/30/22 CNY 40.00
INNER MONGOLIA KE'ERQI 6.45 04/30/22 CNY 39.33
INNER MONGOLIA KE'ERQI 6.50 03/11/22 CNY 40.00
INNER MONGOLIA KE'ERQI 6.50 03/11/22 CNY 39.47
INNER MONGOLIA SHENGXI 8.18 08/21/21 CNY 44.00
INNER MONGOLIA SHENGXI 8.18 08/21/21 CNY 40.38
INNER MONGOLIA ZHUNGEE 6.54 12/31/21 CNY 42.10
INNER MONGOLIA ZHUNGEE 6.54 12/31/21 CNY 41.72
JIAN CITY JINGANGSHAN 4.87 01/27/23 CNY 60.47
JIAN CITY JINGANGSHAN 4.87 01/27/23 CNY 58.77
JIAN CITY JINGANGSHAN 7.99 06/03/21 CNY 40.87
JIAN CITY JINGANGSHAN 7.99 06/03/21 CNY 40.63
JIANAN INVESTMENT HOLD 4.30 03/08/23 CNY 61.20
JIANAN INVESTMENT HOLD 4.30 03/08/23 CNY 61.20
JIANAN INVESTMENT HOLD 6.85 05/23/21 CNY 46.50
JIANAN INVESTMENT HOLD 6.85 05/23/21 CNY 40.85
JIANGDONG HOLDING GROU 7.14 04/24/21 CNY 20.89
JIANGMEN NEW HI-TECH I 6.03 04/22/22 CNY 41.55
JIANGMEN NEW HI-TECH I 6.03 04/22/22 CNY 41.50
JIANGMEN NEW HI-TECH I 7.39 11/04/20 CNY 20.47
JIANGSU HAIZHOUWAN DEV 5.37 03/29/23 CNY 45.00
JIANGSU HANRUI INVESTM 4.63 04/15/23 CNY 61.21
JIANGSU HANRUI INVESTM 4.63 04/15/23 CNY 61.00
JIANGSU HUAJING ASSETS 6.00 05/16/20 CNY 20.12
JIANGSU HUAJING ASSETS 6.00 05/16/20 CNY 20.01
JIANGSU JINGUAN INVEST 7.90 04/08/21 CNY 20.80
JIANGSU JINGUAN INVEST 7.90 04/08/21 CNY 20.76
JIANGSU JINTAN GUOFA I 6.85 05/30/21 CNY 40.44
JIANGSU JINTAN GUOFA I 6.85 05/30/21 CNY 40.00
JIANGSU JURONG FUDI BI 7.70 03/21/21 CNY 41.52
JIANGSU JURONG FUDI BI 7.70 03/21/21 CNY 41.20
JIANGSU NANTONG NO2 CO 8.10 07/10/21 CNY 40.18
JIANGSU NEWHEADLINE DE 7.00 08/27/20 CNY 29.90
JIANGSU NEWHEADLINE DE 7.00 08/27/20 CNY 25.22
JIANGSU RUNCHENG ASSET 7.88 04/16/21 CNY 28.80
JIANGSU RUNCHENG ASSET 7.88 04/16/21 CNY 20.80
JIANGSU RUNQI WANGUO I 4.14 10/21/21 CNY 59.12
JIANGSU RUNQI WANGUO I 4.14 10/21/21 CNY 59.10
JIANGSU SUHAI INVESTME 7.28 05/29/21 CNY 45.00
JIANGSU SUHAI INVESTME 7.28 05/29/21 CNY 40.76
JIANGSU TAICANG PORT D 7.40 04/28/21 CNY 40.92
JIANGSU TAICANG PORT D 7.40 04/28/21 CNY 20.00
JIANGSU WANGTAO INVEST 6.82 09/15/20 CNY 26.10
JIANGSU WANGTAO INVEST 6.82 09/15/20 CNY 25.20
JIANGSU WUZHONG ECONOM 5.49 11/19/21 CNY 41.21
JIANGSU WUZHONG ECONOM 5.49 11/19/21 CNY 40.32
JIANGSU XISHAN ECONOMI 5.78 07/20/22 CNY 61.70
JIANGSU XISHAN ECONOMI 5.78 07/20/22 CNY 60.50
JIANGSU YANGKOU PORT C 6.23 04/10/22 CNY 47.50
JIANGSU YANGKOU PORT C 6.23 04/10/22 CNY 41.51
JIANGSU YIXING ECONOMI 7.69 04/18/21 CNY 30.19
JIANGSU YIXING ECONOMI 7.69 04/18/21 CNY 20.79
JIANGSU ZHANGJIAGANG E 3.95 03/22/23 CNY 61.35
JIANGSU ZHANGJIAGANG E 3.95 03/22/23 CNY 60.00
JIANGSU ZHUFU INDUSTRI 4.93 12/29/20 CNY 40.33
JIANGXI HEJI INVESTMEN 5.09 12/17/22 CNY 60.00
JIANGXI HEJI INVESTMEN 5.09 12/17/22 CNY 58.84
JIANGXI HUIHENG PROPER 4.43 08/30/21 CNY 70.72
JIANGXI HUIHENG PROPER 4.43 08/30/21 CNY 69.91
JIANGXI LONGHU MOUNTAI 4.35 03/16/23 CNY 60.75
JIANGXI LONGHU MOUNTAI 4.35 03/16/23 CNY 60.10
JIANGXI PINGXIANG CHAN 8.18 05/22/21 CNY 49.34
JIANGXI PINGXIANG CHAN 8.18 05/22/21 CNY 40.89
JIANGXI PROVINCE SITON 8.20 04/18/21 CNY 20.82
JIANGYIN LINGANG NEW C 7.10 11/07/20 CNY 21.00
JIANGYIN LINGANG NEW C 7.10 11/07/20 CNY 20.38
JIANGYOU HONGFEI INVES 6.55 09/02/22 CNY 60.93
JIANGYOU HONGFEI INVES 6.55 09/02/22 CNY 59.46
JIANHU COUNTY DEVELOPM 7.29 09/25/21 CNY 42.75
JIANHU COUNTY DEVELOPM 7.29 09/25/21 CNY 40.96
JIANHU URBAN CONSTRUCT 6.30 06/01/22 CNY 62.86
JIANHU URBAN CONSTRUCT 6.30 06/01/22 CNY 60.42
JIANHU URBAN CONSTRUCT 3.28 10/13/21 CNY 71.00
JIANHU URBAN CONSTRUCT 3.28 10/13/21 CNY 69.56
JIAXING ECONOMIC&TECHN 7.89 03/05/21 CNY 21.13
JIAXING ECONOMIC&TECHN 7.89 03/05/21 CNY 20.82
JIAXING NANHU INVESTME 7.45 02/26/21 CNY 21.80
JIAXING NANHU INVESTME 7.45 02/26/21 CNY 20.65
JIAYU COUNTY URBAN TOW 5.70 01/19/23 CNY 61.33
JIAYU COUNTY URBAN TOW 5.70 01/19/23 CNY 60.28
JIAYUGUAN CITY INFRAST 7.83 09/23/21 CNY 40.92
JIAYUGUAN CITY INFRAST 7.83 09/23/21 CNY 40.00
JIEYANGSHI CHENGSHI TO 6.55 08/27/21 CNY 40.56
JILIN CITY CONSTRUCTIO 3.80 01/27/23 CNY 61.98
JILIN CITY CONSTRUCTIO 3.80 01/27/23 CNY 59.90
JILIN ECONOMIC AND TEC 6.20 04/29/23 CNY 60.21
JILIN ECONOMIC AND TEC 6.20 04/29/23 CNY 60.17
JILIN NORTHEAST SOCK I 6.80 12/19/21 CNY 69.75
JILIN RAILWAY INVESTME 7.18 03/04/21 CNY 20.14
JINAN CITY CONSTRUCTIO 6.80 03/20/21 CNY 20.67
JINAN CITY LICHENG DIS 5.00 06/23/22 CNY 60.10
JINAN CITY LICHENG DIS 5.00 06/23/22 CNY 60.09
JINAN HI-TECH HOLDING 6.38 06/19/21 CNY 40.81
JINCHANG CONSTRUCTION 6.79 12/21/22 CNY 61.31
JINCHANG CONSTRUCTION 6.79 12/21/22 CNY 60.00
JINCHENG STATE-OWNED C 4.99 11/11/21 CNY 40.89
JINCHENG STATE-OWNED C 4.99 11/11/21 CNY 40.87
JINGDE TAOCI CULTURAL 5.38 11/27/22 CNY 60.26
JINGDE TAOCI CULTURAL 5.38 11/27/22 CNY 58.00
JINGDEZHEN STATE-OWNED 6.59 06/25/20 CNY 20.08
JINGDEZHEN STATE-OWNED 6.59 06/25/20 CNY 20.06
JINGHONG STATE-OWNED A 8.08 05/23/21 CNY 40.57
JINGHONG STATE-OWNED A 8.08 05/23/21 CNY 39.00
JINGJIANG CITY INVESTM 4.55 03/30/23 CNY 60.94
JINGJIANG CITY INVESTM 4.55 03/30/23 CNY 59.73
JINGJIANG HARBOUR GROU 7.30 08/05/21 CNY 48.68
JINGJIANG HARBOUR GROU 7.30 08/05/21 CNY 40.24
JINGMEN CITY CONSTRUCT 6.85 07/09/22 CNY 46.90
JINGMEN CITY CONSTRUCT 6.85 07/09/22 CNY 46.20
JINGMEN CITY CONSTRUCT 7.00 10/17/20 CNY 20.37
JINGMEN CITY CONSTRUCT 7.00 10/17/20 CNY 18.57
JINGMEN HIGH-TECH DEVE 5.48 08/11/22 CNY 60.94
JINGMEN HIGH-TECH DEVE 5.48 08/11/22 CNY 59.80
JINGZHOU DEVELOPMENT Z 8.20 12/09/20 CNY 21.80
JINGZHOU DEVELOPMENT Z 8.20 12/09/20 CNY 20.50
JINGZHOU URBAN CONSTRU 3.97 03/10/23 CNY 60.93
JINGZHOU URBAN CONSTRU 3.97 03/10/23 CNY 60.55
JINHU COUNTY STATE-OWN 7.75 08/25/21 CNY 41.33
JINHU COUNTY STATE-OWN 7.75 08/25/21 CNY 40.91
JINING CITY SHIZHONG D 6.39 01/29/22 CNY 44.44
JINING CITY SHIZHONG D 6.39 01/29/22 CNY 41.34
JINING HI-TECH TOWN CO 6.09 04/30/22 CNY 41.58
JINING HI-TECH TOWN CO 6.09 04/30/22 CNY 41.50
JINZHAI URBAN DEVELOPM 5.90 04/25/23 CNY 81.32
JINZHAI URBAN DEVELOPM 5.90 04/25/23 CNY 62.06
JINZHOU CITY INVESTMEN 6.44 08/18/21 CNY 44.91
JINZHOU CITY INVESTMEN 6.44 08/18/21 CNY 40.56
JINZHOU CITY INVESTMEN 8.50 12/27/20 CNY 20.58
JINZHOU HUAXING INVEST 8.38 02/25/21 CNY 25.00
JINZHOU HUAXING INVEST 8.38 02/25/21 CNY 20.59
JINZHOU HUAXING INVEST 9.10 01/21/21 CNY 20.90
JINZHOU HUAXING INVEST 9.10 01/21/21 CNY 20.59
JISHOU HUATAI STATE OW 7.18 02/09/22 CNY 42.82
JISHOU HUATAI STATE OW 7.18 02/09/22 CNY 40.06
JIUJIANG CITY CONSTRUC 5.50 05/22/22 CNY 61.56
JIUJIANG CITY CONSTRUC 5.50 05/22/22 CNY 59.55
JIUJIANG LAND INVESTME 6.20 03/23/22 CNY 41.58
JIUJIANG LAND INVESTME 6.20 03/23/22 CNY 40.36
JIUJIANG LIANXI DISTRI 4.58 03/30/23 CNY 60.40
JIUJIANG LIANXI DISTRI 4.58 03/30/23 CNY 60.29
JIUQUAN ECONOMIC DEVEL 7.40 02/26/21 CNY 20.60
JIUQUAN ECONOMIC DEVEL 7.40 02/26/21 CNY 20.53
JIXI STATE OWN ASSET M 6.87 01/19/22 CNY 40.85
JIXI STATE OWN ASSET M 6.87 01/19/22 CNY 40.46
KAIFENG NEW DISTRICT I 6.35 03/23/22 CNY 40.81
KAIFENG NEW DISTRICT I 6.35 03/23/22 CNY 40.75
KAIFU CITY DEVELOPMENT 4.20 01/21/23 CNY 60.74
KAIFU CITY DEVELOPMENT 4.20 01/21/23 CNY 60.10
KAILI GUIZHOU TOWN CON 5.29 12/17/22 CNY 60.00
KAILI GUIZHOU TOWN CON 5.29 12/17/22 CNY 59.11
KANGMEI PHARMACEUTICAL 5.47 09/15/22 CNY 21.25
KANGMEI PHARMACEUTICAL 5.29 08/16/22 CNY 20.10
KANGMEI PHARMACEUTICAL 5.20 07/17/22 CNY 21.25
KANGMEI PHARMACEUTICAL 6.33 01/27/22 CNY 36.69
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 20.67
KANGMEI PHARMACEUTICAL 6.28 03/20/21 CNY 21.25
KASHGAR SHENKA INVESTM 7.08 07/07/20 CNY 25.18
KASHGAR SHENKA INVESTM 7.08 07/07/20 CNY 24.75
KASHI URBAN CONSTRUCTI 5.80 07/20/22 CNY 61.41
KASHI URBAN CONSTRUCTI 5.80 07/20/22 CNY 60.00
KUERLE CITY CONSTRUCTI 6.99 05/20/20 CNY 25.05
KUERLE CITY CONSTRUCTI 6.99 05/20/20 CNY 25.04
KUNMING DONGJUN REAL E 4.50 11/02/21 CNY 49.98
KUNSHAN COMMUNICATION 6.95 05/22/21 CNY 45.45
KUNSHAN COMMUNICATION 6.95 05/22/21 CNY 41.04
KUNSHAN HIGH TECHNOLOG 7.10 03/26/21 CNY 20.78
LAIWU CITY ECONOMIC DE 7.08 02/28/21 CNY 20.65
LAIWU CITY ECONOMIC DE 7.08 02/28/21 CNY 20.60
LANZHOU STATE OWNED AS 6.32 09/10/21 CNY 40.38
LANZHOU STATE OWNED AS 6.32 09/10/21 CNY 34.90
LAOHEKOU CITY CONSTRUC 6.75 08/12/22 CNY 61.42
LAOHEKOU CITY CONSTRUC 6.75 08/12/22 CNY 61.33
LEIYANG CITY AND RURAL 7.80 04/10/22 CNY 42.41
LEIYANG CITY AND RURAL 7.80 04/10/22 CNY 42.39
LEQING CITY STATE OWNE 5.99 10/20/21 CNY 41.40
LEQING CITY STATE OWNE 5.99 10/20/21 CNY 40.85
LESHAN STATE-OWNED ASS 5.68 10/22/21 CNY 45.60
LESHAN STATE-OWNED ASS 5.68 10/22/21 CNY 41.10
LIANYUNGANG TRANSPORT 5.47 11/17/21 CNY 45.00
LIANYUNGANG TRANSPORT 5.47 11/17/21 CNY 40.82
LIAOCHENG ANTAI URBAN 5.16 04/11/23 CNY 61.66
LIAOCHENG ANTAI URBAN 5.16 04/11/23 CNY 61.27
LIAOCHENG ANTAI URBAN 4.58 04/11/23 CNY 61.09
LIAOCHENG ANTAI URBAN 4.58 04/11/23 CNY 60.81
LIAOCHENG XINGYE ECONO 5.20 04/13/23 CNY 61.84
LIAOCHENG XINGYE ECONO 5.20 04/13/23 CNY 58.99
LIAONING COASTAL ECONO 8.90 04/01/21 CNY 11.46
LIAONING COASTAL ECONO 8.90 04/01/21 CNY 3.63
LIAONING YAODU DEVELOP 6.50 04/29/23 CNY 61.48
LIAONING YAODU DEVELOP 6.50 04/29/23 CNY 59.87
LILING HIGH-TECH INDUS 4.93 01/19/23 CNY 60.10
LILING HIGH-TECH INDUS 4.93 01/19/23 CNY 58.75
LINFEN CITY INVESTMENT 6.20 05/23/20 CNY 20.04
LINFEN YAODU DISTRICT 7.19 03/13/22 CNY 41.01
LINFEN YAODU DISTRICT 7.19 03/13/22 CNY 40.37
LINFEN YAODU DISTRICT 6.99 09/27/20 CNY 20.13
LINFEN YAODU DISTRICT 6.99 09/27/20 CNY 20.00
LISHUI CITY CONSTRUCTI 5.67 08/13/22 CNY 61.76
LISHUI CITY CONSTRUCTI 5.67 08/13/22 CNY 60.00
LISHUI CITY CONSTRUCTI 6.00 05/23/20 CNY 20.10
LISHUI CITY CONSTRUCTI 6.00 05/23/20 CNY 20.02
LIUPANSHUI AFFORDABLE 5.08 01/29/23 CNY 59.38
LIUPANSHUI AFFORDABLE 5.08 01/29/23 CNY 59.27
LIUPANSHUI DEVELOPMENT 3.74 01/20/23 CNY 61.18
LIUPANSHUI DEVELOPMENT 3.74 01/20/23 CNY 60.94
LIUYANG MODERN MANUFAC 4.72 01/19/23 CNY 61.09
LIUYANG MODERN MANUFAC 4.72 01/19/23 CNY 60.14
LIUYANG NEW INDUSTRIAL 4.43 10/23/22 CNY 60.68
LIUYANG NEW INDUSTRIAL 4.43 10/23/22 CNY 60.30
LIUYANG URBAN CONSTRUC 6.98 08/22/21 CNY 41.50
LIUYANG URBAN CONSTRUC 6.98 08/22/21 CNY 41.36
LIUZHOU CITY INVESTMEN 7.18 12/31/22 CNY 47.15
LIUZHOU INVESTMENT HOL 4.28 03/08/23 CNY 60.36
LIUZHOU INVESTMENT HOL 4.28 03/08/23 CNY 60.35
LIUZHOU LONGJIAN INVES 8.28 04/30/24 CNY 64.44
LIYANG KUNLUN URBAN CO 5.90 10/24/21 CNY 40.96
LIYANG KUNLUN URBAN CO 5.90 10/24/21 CNY 38.00
LONGHAI STATE-OWNED AS 6.58 08/15/21 CNY 40.97
LONGYAN RAILWAY CONSTR 4.98 04/13/23 CNY 60.16
LONGYAN RAILWAY CONSTR 4.98 04/13/23 CNY 59.25
LOUDI CITY CONSTRUCTIO 7.95 04/15/21 CNY 30.31
LOUDI CITY CONSTRUCTIO 7.95 04/15/21 CNY 20.59
LOUDI TIDU INVESTMENT 4.83 01/20/23 CNY 60.99
LOUDI TIDU INVESTMENT 4.83 01/20/23 CNY 60.23
LOUDI TIDU INVESTMENT 7.18 08/27/21 CNY 41.00
LOUDI TIDU INVESTMENT 7.18 08/27/21 CNY 40.00
LOUDI WANBAO NEW DISTR 5.13 02/01/23 CNY 60.24
LOUDI WANBAO NEW DISTR 5.13 02/01/23 CNY 59.91
LU'AN CITY CONSTRUCTIO 5.05 04/26/21 CNY 51.14
LU'AN CITY CONSTRUCTIO 3.97 02/22/21 CNY 50.60
LU'AN CITY CONSTRUCTIO 5.20 09/25/20 CNY 50.57
LUJIANG CITY CONSTRUCT 6.70 04/16/22 CNY 41.09
LUJIANG CITY CONSTRUCT 6.70 04/16/22 CNY 40.00
LUOHE CITY INVESTMENT 5.25 09/11/20 CNY 40.22
LUOYANG CITY COUNTRY C 4.28 04/26/23 CNY 61.83
LUOYANG CITY DEVELOPME 4.47 12/02/22 CNY 61.91
LUOYANG CITY DEVELOPME 4.47 12/02/22 CNY 60.00
LUZHOU XINGLU TOUZI JI 6.41 04/23/25 CNY 70.00
LUZHOU XINGYANG INVEST 4.87 01/28/23 CNY 59.77
LUZHOU XINGYANG INVEST 4.87 01/28/23 CNY 59.76
MA'ANSHAN CIHU HIGH TE 6.85 09/09/21 CNY 43.00
MA'ANSHAN CIHU HIGH TE 6.85 09/09/21 CNY 41.24
MAANSHAN ECONOMIC TECH 6.49 03/06/22 CNY 44.99
MAANSHAN ECONOMIC TECH 6.49 03/06/22 CNY 41.11
MAANSHAN HUASHAN DISTR 6.07 04/20/22 CNY 41.83
MAANSHAN HUASHAN DISTR 6.07 04/20/22 CNY 41.42
MEISHAN CITY ASSET OPE 7.84 02/26/21 CNY 20.70
MEISHAN CITY ASSET OPE 7.84 02/26/21 CNY 20.40
MEISHAN HONGDA CONSTRU 4.18 03/28/23 CNY 60.11
MEISHAN HONGDA CONSTRU 4.18 03/28/23 CNY 60.08
MEISHAN HONGDA CONSTRU 6.56 06/19/20 CNY 20.06
MEISHAN HONGDA CONSTRU 6.56 06/19/20 CNY 20.02
MEIZHOU CITY XIN JIN Y 6.02 04/22/22 CNY 45.32
MEIZHOU CITY XIN JIN Y 6.02 04/22/22 CNY 41.60
MEIZHOU KANGDA HIGHWAY 6.95 09/10/20 CNY 20.25
MEIZHOU KANGDA HIGHWAY 6.95 09/10/20 CNY 20.23
MEIZHOU MEI COUNTY DIS 5.00 12/30/22 CNY 60.40
MEIZHOU MEI COUNTY DIS 5.00 12/30/22 CNY 60.00
MUDANJIANG AREA URBAN 6.48 06/30/22 CNY 65.00
MUDANJIANG AREA URBAN 6.48 06/30/22 CNY 61.56
MUDANJIANG STATE-OWNED 7.70 04/14/21 CNY 20.57
MUDANJIANG STATE-OWNED 7.70 04/14/21 CNY 20.56
MUNICIPALITY OF SHENZH 3.00 03/29/22 CNY 60.00
MUNICIPALITY OF SHENZH 3.00 03/29/22 CNY 60.00
NANCHANG WATER CONSERV 6.28 06/21/20 CNY 20.09
NANCHANG WATER CONSERV 6.28 06/21/20 CNY 20.08
NANCHONG AIRPORT INVES 6.80 01/26/22 CNY 41.29
NANCHONG AIRPORT INVES 6.80 01/26/22 CNY 40.95
NANCHONG ECONOMIC DEVE 8.28 04/21/21 CNY 31.20
NANCHONG ECONOMIC DEVE 8.28 04/21/21 CNY 20.84
NANJING BAIXIA STATE-O 3.98 03/29/23 CNY 61.25
NANJING BAIXIA STATE-O 3.98 03/29/23 CNY 60.99
NANJING HEXI NEW TOWN 3.20 07/22/21 CNY 69.50
NANJING HEXI NEW TOWN 3.47 06/17/21 CNY 66.00
NANJING JIANGNING ECON 7.94 04/14/24 CNY 66.82
NANJING LISHUI ECONOMI 6.27 09/22/21 CNY 41.29
NANJING LISHUI ECONOMI 6.27 09/22/21 CNY 41.23
NANJING LISHUI URBAN C 4.97 04/28/23 CNY 61.88
NANJING LISHUI URBAN C 4.97 04/28/23 CNY 61.01
NANJING LISHUI URBAN C 5.80 05/29/20 CNY 20.13
NANJING LISHUI URBAN C 5.80 05/29/20 CNY 20.02
NANJING STATE OWNED AS 5.60 03/06/23 CNY 47.47
NANJING STATE OWNED AS 5.60 03/06/23 CNY 47.10
NANJING TANGSHAN CONST 6.80 06/30/21 CNY 46.80
NANJING TANGSHAN CONST 6.80 06/30/21 CNY 40.98
NANNING HI-TECH INDUST 4.28 03/25/23 CNY 59.66
NANNING HI-TECH INDUST 4.28 03/25/23 CNY 55.20
NANNING LVGANG CONSTRU 7.30 06/27/21 CNY 44.80
NANNING LVGANG CONSTRU 7.30 06/27/21 CNY 40.72
NANPING CITY WUYI NEW 4.96 09/28/22 CNY 61.18
NANPING CITY WUYI NEW 4.96 09/28/22 CNY 60.60
NANPING CITY WUYI NEW 6.70 08/06/20 CNY 20.15
NANPING CITY WUYI NEW 6.70 08/06/20 CNY 20.12
NANTONG CHONGCHUAN URB 7.15 04/18/21 CNY 25.40
NANTONG CHONGCHUAN URB 7.15 04/18/21 CNY 20.69
NANTONG CITY GANGZHA D 3.80 09/06/21 CNY 70.71
NANTONG CITY GANGZHA D 3.80 09/06/21 CNY 70.34
NANTONG ECONOMIC & TEC 5.80 05/17/20 CNY 20.25
NANTONG ECONOMIC & TEC 5.80 05/17/20 CNY 20.01
NANTONG HIGH TECHNOLOG 5.00 10/19/22 CNY 61.87
NANTONG HIGH TECHNOLOG 5.00 10/19/22 CNY 61.52
NANTONG SUTONG SCIENCE 6.20 03/18/22 CNY 41.35
NANTONG SUTONG SCIENCE 6.20 03/18/22 CNY 40.00
NANYANG HIGH-TECH DIST 6.45 04/29/23 CNY 63.32
NANYANG HIGH-TECH DIST 6.45 04/29/23 CNY 62.94
NANYANG INVESTMENT GRO 7.05 10/24/20 CNY 20.36
NANYANG INVESTMENT GRO 7.05 10/24/20 CNY 20.29
NEIJIANG INVESTMENT HO 7.99 04/24/21 CNY 28.53
NEIJIANG INVESTMENT HO 7.99 04/24/21 CNY 20.62
NEIJIANG STATE-OWNED A 6.20 04/12/23 CNY 59.60
NEIJIANG STATE-OWNED A 6.20 04/12/23 CNY 59.40
NEIJINAG CONSTRUCTION 5.03 12/25/22 CNY 60.18
NEIJINAG CONSTRUCTION 5.03 12/25/22 CNY 56.36
NEOGLORY HOLDING GROUP 8.00 10/22/20 CNY 56.00
NEOGLORY HOLDING GROUP 8.00 09/25/20 CNY 60.00
NEOGLORY HOLDING GROUP 8.10 11/23/18 CNY 72.00
NINGBO CITY HAISHU GUA 7.75 03/06/21 CNY 26.30
NINGBO CITY HAISHU GUA 7.75 03/06/21 CNY 20.77
NINGBO CITY ZHENHAI IN 5.85 12/04/21 CNY 41.34
NINGBO CITY ZHENHAI IN 5.85 12/04/21 CNY 41.20
NINGBO ECONOMIC & TECH 7.09 04/21/21 CNY 29.00
NINGBO ECONOMIC & TECH 7.09 04/21/21 CNY 20.76
NINGBO MEISHAN ISLAND 6.27 03/23/22 CNY 48.29
NINGBO MEISHAN ISLAND 6.27 03/23/22 CNY 41.61
NINGGUO CITY STATE OWN 8.70 04/28/21 CNY 21.50
NINGGUO CITY STATE OWN 8.70 04/28/21 CNY 20.93
NINGHAI COUNTY URBAN I 7.99 04/16/21 CNY 20.88
NINGHAI COUNTY URBAN I 8.00 01/02/21 CNY 25.00
NINGHAI COUNTY URBAN I 8.00 01/02/21 CNY 20.61
NINGXIA TAIRUI PHARMAC 7.00 12/28/22 CNY 75.00
NINGXIANG CITY CONSTRU 6.70 01/20/22 CNY 42.10
NINGXIANG CITY CONSTRU 6.70 01/20/22 CNY 40.20
NINGXIANG ECONOMIC TEC 3.87 01/27/23 CNY 60.58
NINGXIANG ECONOMIC TEC 3.87 01/27/23 CNY 60.40
NINGXIANG ECONOMIC TEC 8.20 04/16/21 CNY 20.67
PANJIN CITY SHUANGTAIZ 6.48 10/23/22 CNY 61.56
PANJIN CITY SHUANGTAIZ 6.48 10/23/22 CNY 60.84
PANJIN CITY SHUANGTAIZ 7.25 01/22/22 CNY 40.76
PANJIN CITY SHUANGTAIZ 7.25 01/22/22 CNY 40.70
PANSHAN COUNTY STATE-O 7.48 01/21/22 CNY 41.23
PANSHAN COUNTY STATE-O 7.48 01/21/22 CNY 41.23
PANZHIHUA STATE OWNED 8.18 03/13/22 CNY 42.36
PANZHIHUA STATE OWNED 7.60 03/05/21 CNY 20.48
PANZHIHUA STATE OWNED 7.60 03/05/21 CNY 20.32
PANZHIHUA STATE OWNED 5.41 07/29/20 CNY 19.30
PEIXIAN CITY INVESTMEN 5.20 11/10/22 CNY 60.69
PEIXIAN CITY INVESTMEN 5.20 11/10/22 CNY 60.00
PEKING UNIVERSITY FOUN 6.30 03/04/24 CNY 49.00
PEKING UNIVERSITY FOUN 6.50 11/16/23 CNY 49.00
PEKING UNIVERSITY FOUN 6.68 08/09/23 CNY 49.00
PEKING UNIVERSITY FOUN 5.80 01/28/22 CNY 49.00
PEKING UNIVERSITY FOUN 5.99 11/02/21 CNY 49.00
PEKING UNIVERSITY FOUN 6.10 08/22/21 CNY 49.00
PEKING UNIVERSITY FOUN 4.80 07/26/21 CNY 49.00
PEKING UNIVERSITY FOUN 6.30 09/12/20 CNY 49.00
PEKING UNIVERSITY FOUN 6.15 07/23/20 CNY 49.00
PEKING UNIVERSITY FOUN 6.20 05/31/20 CNY 49.00
PINGHU CITY INVESTMENT 5.13 04/29/23 CNY 62.03
PINGHU CITY INVESTMENT 5.13 04/29/23 CNY 61.81
PINGHU ECONOMIC DEVELO 7.99 04/17/21 CNY 20.80
PINGHU ECONOMIC DEVELO 7.99 04/17/21 CNY 20.73
PINGLIANG CHENGXIANG C 7.10 09/17/20 CNY 20.31
PINGLIANG CHENGXIANG C 7.10 09/17/20 CNY 20.20
PINGLIANG CULTURAL & T 6.85 11/30/22 CNY 61.14
PINGLIANG CULTURAL & T 6.85 11/30/22 CNY 55.50
PINGTAN COMPREHENSIVE 3.92 01/29/23 CNY 60.87
PINGTAN COMPREHENSIVE 3.92 01/29/23 CNY 60.30
PINGXIANG CHANGXING IN 5.26 04/11/23 CNY 60.28
PINGXIANG CHANGXING IN 5.26 04/11/23 CNY 59.48
PINGXIANG HUIFENG INVE 6.60 01/26/22 CNY 40.46
PINGXIANG HUIFENG INVE 6.60 01/26/22 CNY 40.00
PINGYANG STATE-OWNED A 4.97 01/08/23 CNY 60.92
PINGYANG STATE-OWNED A 4.97 01/08/23 CNY 60.00
PIZHOU CITY HENGRUN IN 6.46 12/05/21 CNY 42.46
PIZHOU CITY HENGRUN IN 6.46 12/05/21 CNY 41.40
PIZHOU ECONOMIC DEVELO 5.00 10/29/22 CNY 60.00
PIZHOU ECONOMIC DEVELO 5.00 10/29/22 CNY 59.74
PIZHOU RUNCAI ASSET MA 5.90 12/18/20 CNY 50.49
PUTIAN HIGH TECHNOLOGY 5.90 05/03/22 CNY 51.10
PUTIAN HIGH TECHNOLOGY 5.90 05/03/22 CNY 51.09
PUYANG INVESTMENT GROU 8.00 12/11/20 CNY 20.51
PUYANG INVESTMENT GROU 8.00 12/11/20 CNY 20.00
QIANAN URBAN CONSTRUCT 7.19 08/11/21 CNY 41.18
QIANAN URBAN CONSTRUCT 7.19 08/11/21 CNY 40.00
QIANAN URBAN CONSTRUCT 8.88 01/23/21 CNY 20.79
QIANAN URBAN CONSTRUCT 8.88 01/23/21 CNY 20.00
QIANAN XINGYUAN WATER 6.25 04/22/22 CNY 46.90
QIANAN XINGYUAN WATER 6.25 04/22/22 CNY 41.27
QIANDONGNAN TRANSPORTA 5.79 12/21/22 CNY 59.00
QIANDONGNAN TRANSPORTA 5.79 12/21/22 CNY 57.28
QIANDONGNANZHOU KAIHON 5.30 09/22/26 CNY 74.80
QIANJIANG URBAN CONSTR 5.19 12/21/22 CNY 60.38
QIANJIANG URBAN CONSTR 5.19 12/21/22 CNY 60.00
QIANJIANG URBAN CONSTR 8.38 04/22/21 CNY 21.00
QIANJIANG URBAN CONSTR 8.38 04/22/21 CNY 20.91
QIANNANZHOU INVESTMENT 6.43 03/09/22 CNY 39.56
QIANNANZHOU INVESTMENT 6.43 03/09/22 CNY 38.50
QIDONG COMMUNICATIONS 4.00 03/18/23 CNY 60.92
QIDONG COMMUNICATIONS 4.00 03/18/23 CNY 60.75
QIDONG STATE-OWNED ASS 4.00 03/09/23 CNY 60.49
QIDONG STATE-OWNED ASS 4.00 03/09/23 CNY 59.30
QIDONG STATE-OWNED ASS 7.30 11/20/22 CNY 47.67
QIDONG STATE-OWNED ASS 7.30 11/20/22 CNY 47.60
QIDONG URBAN CONSTRUCT 7.90 04/28/21 CNY 20.96
QIDONG URBAN CONSTRUCT 8.20 04/04/21 CNY 20.98
QIHE CITY OPERATION CO 5.10 03/07/23 CNY 60.54
QIHE CITY OPERATION CO 5.10 03/07/23 CNY 60.02
QINGDAO CONSON DEVELOP 6.40 12/12/22 CNY 47.65
QINGDAO CONSON DEVELOP 6.40 12/12/22 CNY 47.20
QINGDAO HICREAT DEVELO 6.88 04/25/21 CNY 21.13
QINGDAO HICREAT DEVELO 6.88 04/25/21 CNY 20.78
QINGDAO JIAOZHOU BAY D 6.33 09/18/21 CNY 41.33
QINGDAO JIMO CITY TOUR 5.47 11/17/21 CNY 41.18
QINGDAO JIMO CITY TOUR 5.47 11/17/21 CNY 41.00
QINGDAO LAIXI CITY ASS 7.50 03/06/21 CNY 28.79
QINGDAO LAIXI CITY ASS 7.50 03/06/21 CNY 20.69
QINGHAI PROVINCIAL INV 6.40 07/10/21 USD 35.76
QINGHAI PROVINCIAL INV 7.88 03/22/21 USD 35.47
QINGHAI STATE-OWNED AS 5.90 12/17/22 CNY 60.00
QINGYANG CITY ECONOMIC 7.98 04/16/21 CNY 20.61
QINGYANG CITY ECONOMIC 7.98 04/16/21 CNY 20.60
QINGYUAN TRANSPORTATIO 8.20 12/19/20 CNY 20.55
QINGZHOU HONGYUAN PUBL 7.59 05/29/21 CNY 47.50
QINGZHOU HONGYUAN PUBL 7.59 05/29/21 CNY 40.52
QINHUANGDAO CITY DEVEL 4.69 04/14/23 CNY 60.76
QINHUANGDAO CITY DEVEL 4.69 04/14/23 CNY 59.95
QINHUANGDAO DEVELOPMEN 8.45 04/18/21 CNY 21.28
QINHUANGDAO DEVELOPMEN 8.45 04/18/21 CNY 20.73
QINHUANGDAO DEVELOPMEN 8.00 12/17/20 CNY 20.42
QINHUANGDAO DEVELOPMEN 8.00 12/17/20 CNY 20.00
QINZHOU BINHAI NEW CIT 7.00 08/27/20 CNY 20.16
QINZHOU BINHAI NEW CIT 7.00 08/27/20 CNY 20.00
QINZHOU BINHAI NEW CIT 6.99 07/07/21 CNY 40.77
QINZHOU BINHAI NEW CIT 6.99 07/07/21 CNY 40.00
QIONGLAI CITY CONSTRUC 6.98 03/25/22 CNY 44.90
QIONGLAI CITY CONSTRUC 6.98 03/25/22 CNY 41.00
QUJING CITY QILIN DIST 5.37 11/26/22 CNY 61.95
QUJING CITY QILIN DIST 5.37 11/26/22 CNY 60.06
QUJING DEVELOPMENT INV 7.48 04/28/21 CNY 40.82
QUJING DEVELOPMENT INV 7.48 04/28/21 CNY 22.55
QUJING ECO TECH DEVELO 7.48 07/21/21 CNY 40.76
QUJING ECO TECH DEVELO 7.48 07/21/21 CNY 40.50
QUZHOU STATE OWNED ASS 7.20 04/21/21 CNY 23.42
QUZHOU STATE OWNED ASS 7.20 04/21/21 CNY 20.79
RENHUAI CITY DEVELOPME 5.12 04/14/23 CNY 59.91
RENHUAI CITY DEVELOPME 5.12 04/14/23 CNY 59.90
RENHUAI CITY DEVELOPME 8.09 05/16/21 CNY 41.03
RENHUAI CITY DEVELOPME 8.09 05/16/21 CNY 41.01
RENQIU CONSTRUCTION IN 5.68 11/18/22 CNY 60.53
RENQIU CONSTRUCTION IN 5.68 11/18/22 CNY 58.22
RENSHOU DEVELOPMENT OF 6.42 12/22/22 CNY 60.99
RENSHOU DEVELOPMENT OF 6.42 12/22/22 CNY 60.00
REWARD SCIENCE AND TEC 6.40 03/03/22 CNY 70.00
REWARD SCIENCE AND TEC 5.53 07/05/21 CNY 29.10
RIGHT WAY REAL ESTATE 8.00 07/15/21 CNY 43.89
RIZHAO CITY CONSTRUCTI 3.98 12/07/22 CNY 60.68
RIZHAO CITY CONSTRUCTI 3.98 12/07/22 CNY 60.10
RIZHAO CITY CONSTRUCTI 5.80 06/06/20 CNY 20.03
RUDONG COUNTY DONGTAI 6.99 06/20/21 CNY 45.90
RUDONG COUNTY DONGTAI 6.99 06/20/21 CNY 40.91
RUDONG COUNTY JINXIN T 8.08 03/03/21 CNY 24.03
RUDONG COUNTY JINXIN T 8.08 03/03/21 CNY 20.73
RUDONG COUNTY KAITAI C 4.57 01/08/23 CNY 61.27
RUGAO COMMUNICATIONS C 3.74 03/23/23 CNY 60.82
RUGAO COMMUNICATIONS C 3.74 03/23/23 CNY 60.50
RUGAO ECONOMIC & TRADE 3.95 03/24/23 CNY 61.02
RUGAO ECONOMIC & TRADE 3.95 03/24/23 CNY 60.88
RUGAO ECONOMIC & TRADE 8.30 01/22/21 CNY 29.00
RUGAO ECONOMIC & TRADE 8.30 01/22/21 CNY 20.76
RUGAO YANJIANG DEVELOP 8.60 01/24/21 CNY 20.93
RUGAO YANJIANG DEVELOP 8.60 01/24/21 CNY 20.74
RUIAN STATE OWNED ASSE 4.56 01/27/23 CNY 61.49
RUIAN STATE OWNED ASSE 4.56 01/27/23 CNY 60.94
RUICHANG CITY INVESTME 5.68 03/25/23 CNY 60.90
RUICHANG CITY INVESTME 5.68 03/25/23 CNY 59.58
RUZHOU CITY XINYUAN IN 6.30 09/16/21 CNY 53.30
RUZHOU CITY XINYUAN IN 6.30 09/16/21 CNY 49.61
SANMEN COUNTY STATE-OW 6.80 03/18/22 CNY 41.12
SANMEN COUNTY STATE-OW 6.80 03/18/22 CNY 40.00
SANMEN COUNTY STATE-OW 6.85 10/29/21 CNY 41.08
SANMEN COUNTY STATE-OW 6.85 10/29/21 CNY 40.00
SANMING TRANSPORTATION 3.68 03/29/23 CNY 60.72
SANMING TRANSPORTATION 3.68 03/29/23 CNY 60.15
SHAANXI ANKANG HIGH TE 8.78 09/17/21 CNY 47.00
SHAANXI ANKANG HIGH TE 8.78 09/17/21 CNY 41.60
SHAANXI PROVINCIAL EXP 5.99 06/18/20 CNY 60.22
SHAANXI XIXIAN NEW ARE 6.85 08/15/21 CNY 45.50
SHAANXI XIXIAN NEW ARE 6.85 08/15/21 CNY 40.98
SHAANXI XIXIAN NEW ARE 6.89 01/05/22 CNY 43.10
SHAANXI XIXIAN NEW ARE 6.89 01/05/22 CNY 41.22
SHAANXI XIXIAN NEW ARE 5.15 11/27/22 CNY 61.07
SHAANXI XIXIAN NEW ARE 5.15 11/27/22 CNY 61.01
SHANDONG BORUN INDUSTR 6.50 11/02/21 CNY 66.53
SHANDONG BOXING COUNTY 8.00 12/22/21 CNY 42.00
SHANDONG BOXING COUNTY 8.00 12/22/21 CNY 41.95
SHANDONG CENTURY SUNSH 8.19 07/21/21 CNY 41.34
SHANDONG CENTURY SUNSH 8.19 07/21/21 CNY 41.32
SHANDONG FUYU CHEMICAL 7.70 09/18/22 CNY 70.00
SHANDONG GAOCHUANG CON 6.05 06/18/22 CNY 62.45
SHANDONG GAOCHUANG CON 6.05 06/18/22 CNY 61.76
SHANDONG HONGHE HOLDIN 8.50 06/23/21 CNY 44.00
SHANDONG HONGHE HOLDIN 8.50 06/23/21 CNY 41.24
SHANDONG JINMAO TEXTIL 6.97 04/01/21 CNY 20.70
SHANDONG JINMAO TEXTIL 8.00 09/25/20 CNY 35.84
SHANDONG RENCHENG RONG 7.30 10/18/20 CNY 23.40
SHANDONG RENCHENG RONG 7.30 10/18/20 CNY 20.32
SHANDONG RUYI TECHNOLO 7.90 09/18/23 CNY 52.10
SHANDONG SNTON GROUP C 5.18 09/08/21 CNY 8.52
SHANDONG SNTON GROUP C 6.20 05/30/21 CNY 9.50
SHANDONG TAIYANG INDUS 5.97 03/02/21 CNY 42.86
SHANDONG TENGJIAN INVE 6.00 06/08/22 CNY 60.73
SHANDONG TENGJIAN INVE 6.00 06/08/22 CNY 60.00
SHANDONG WANTONG PETRO 7.97 11/29/21 CNY 31.45
SHANGHAI CAOHEJING HI- 7.24 04/09/21 CNY 20.73
SHANGHAI CAOHEJING HI- 7.24 04/09/21 CNY 20.72
SHANGHAI CHONGMING CON 6.40 06/13/20 CNY 25.09
SHANGHAI JIADING ROAD 6.80 04/23/21 CNY 20.75
SHANGHAI JIADING ROAD 6.80 04/23/21 CNY 20.64
SHANGHAI LAKE DIANSHAN 5.95 01/30/21 CNY 25.61
SHANGHAI LAKE DIANSHAN 5.95 01/30/21 CNY 25.51
SHANGHAI MINHANG URBAN 5.63 04/20/22 CNY 41.78
SHANGHAI MINHANG URBAN 5.63 04/20/22 CNY 40.79
SHANGHAI MUNICIPAL INV 4.80 11/05/24 CNY 73.52
SHANGHAI NANHUI URBAN 6.04 08/20/21 CNY 41.24
SHANGHAI NANHUI URBAN 6.04 08/20/21 CNY 41.20
SHANGHAI PUTAILAI NEW 5.50 03/19/21 CNY 66.67
SHANGHAI PUTAILAI NEW 5.30 05/18/20 CNY 66.67
SHANGHAI URBAN CONSTRU 3.50 01/06/23 CNY 61.07
SHANGHAI URBAN CONSTRU 3.50 01/06/23 CNY 60.77
SHANGHAI YONGYE ENTERP 6.84 05/21/20 CNY 25.04
SHANGLUO CITY CONSTRUC 7.05 09/09/20 CNY 25.40
SHANGLUO CITY CONSTRUC 7.05 09/09/20 CNY 20.24
SHANGRAO CITY STATE-OW 4.65 01/29/23 CNY 61.47
SHANGRAO CITY STATE-OW 4.65 01/29/23 CNY 61.34
SHANTOU CITY CONSTRUCT 8.57 03/23/22 CNY 32.23
SHANTOU INVESTMENT & F 7.99 03/04/24 CNY 66.22
SHANXI XIANG KUANG GRO 8.80 02/11/22 CNY 68.38
SHANXI XIANG KUANG GRO 8.80 02/11/22 CNY 54.50
SHAOWU URBAN CONSTRUCT 5.88 09/11/22 CNY 63.39
SHAOWU URBAN CONSTRUCT 5.88 09/11/22 CNY 60.79
SHAOXING CHENGZHONGCUN 6.09 04/27/22 CNY 41.60
SHAOXING CHENGZHONGCUN 6.09 04/27/22 CNY 40.00
SHAOXING CITY INVESTME 5.75 04/17/22 CNY 48.00
SHAOXING CITY INVESTME 5.75 04/17/22 CNY 42.03
SHAOXING CITY KEQIAO D 6.40 08/20/21 CNY 41.20
SHAOXING CITY KEQIAO D 6.40 08/20/21 CNY 40.98
SHAOXING COUNTY KEYAN 6.28 03/24/22 CNY 41.67
SHAOXING COUNTY KEYAN 6.28 03/24/22 CNY 40.00
SHAOXING JINGHU NEW DI 6.13 04/30/22 CNY 61.82
SHAOXING JINGHU NEW DI 6.13 04/30/22 CNY 41.90
SHAOXING KEQIAO ECONOM 7.00 12/10/21 CNY 41.29
SHAOXING KEQIAO ECONOM 7.00 12/10/21 CNY 40.00
SHAOXING PAOJIANG INDU 6.98 05/29/21 CNY 43.90
SHAOXING PAOJIANG INDU 6.98 05/29/21 CNY 40.74
SHAOXING SHANGYU ECONO 4.76 04/11/23 CNY 61.50
SHAOXING SHANGYU ECONO 4.76 04/11/23 CNY 61.49
SHAOXING SHANGYU HANGZ 6.95 10/11/20 CNY 20.55
SHAOXING SHANGYU HANGZ 6.95 10/11/20 CNY 20.37
SHAOXING SHANGYU URBAN 6.80 08/07/21 CNY 41.20
SHAOXING SHANGYU URBAN 6.80 08/07/21 CNY 41.14
SHAOYANG CITY CONSTRUC 8.58 01/17/21 CNY 21.00
SHAOYANG CITY CONSTRUC 8.58 01/17/21 CNY 20.57
SHAOYANG DULIANG INVES 5.50 04/13/23 CNY 60.76
SHAOYANG DULIANG INVES 5.50 04/13/23 CNY 58.14
SHENGZHOU INVESTMENT H 7.60 07/17/21 CNY 41.57
SHENGZHOU INVESTMENT H 7.60 07/17/21 CNY 41.44
SHENMU CITY STATE-OWNE 7.28 06/23/21 CNY 41.07
SHENMU CITY STATE-OWNE 7.28 06/23/21 CNY 41.00
SHENYANG DADONG STATE- 6.05 03/20/22 CNY 41.19
SHENYANG DADONG STATE- 6.05 03/20/22 CNY 40.00
SHENYANG ECONOMIC AFFO 7.17 04/29/22 CNY 60.32
SHENYANG ECONOMIC AFFO 7.17 04/29/22 CNY 41.26
SHENYANG SUJIATUN DIST 6.40 06/20/20 CNY 20.06
SHENYANG SUJIATUN DIST 6.40 06/20/20 CNY 20.00
SHENYANG TIEXI STATE-O 6.00 01/14/22 CNY 47.50
SHENYANG TIEXI STATE-O 6.00 01/14/22 CNY 41.17
SHENZHEN METRO GROUP C 6.75 01/24/24 CNY 65.48
SHENZHEN METRO GROUP C 6.75 01/24/24 CNY 64.90
SHENZHEN METRO GROUP C 5.40 03/25/23 CNY 47.44
SHIJIAZHUANG HUTUO NEW 5.28 12/24/25 CNY 62.96
SHIJIAZHUANG HUTUO NEW 5.28 12/24/25 CNY 62.50
SHIJIAZHUANG REAL ESTA 5.65 05/15/20 CNY 20.00
SHIJIAZHUANG STATE-OWN 5.75 04/09/22 CNY 47.20
SHIJIAZHUANG STATE-OWN 5.75 04/09/22 CNY 41.54
SHIJIAZHUANG URBAN CON 6.55 03/09/21 CNY 41.40
SHISHI CITY CONSTRUCTI 6.10 05/04/22 CNY 61.90
SHISHI CITY CONSTRUCTI 6.10 05/04/22 CNY 41.78
SHIYAN STATE-OWNED CAP 6.58 08/20/21 CNY 41.21
SHIYAN STATE-OWNED CAP 6.58 08/20/21 CNY 40.00
SHIYAN STATE-OWNED CAP 6.88 10/11/20 CNY 20.68
SHIYAN STATE-OWNED CAP 6.88 10/11/20 CNY 20.36
SHOUGUANG CITY CONSTRU 7.10 10/18/20 CNY 22.87
SHOUGUANG CITY CONSTRU 7.10 10/18/20 CNY 20.29
SHUCHENG COUNTY URBAN 5.50 04/29/23 CNY 62.20
SHUCHENG COUNTY URBAN 5.50 04/29/23 CNY 62.19
SHUYANG JINGYUAN ASSET 5.49 09/11/22 CNY 66.00
SHUYANG JINGYUAN ASSET 5.49 09/11/22 CNY 61.27
SHUYANG JINGYUAN ASSET 7.39 04/14/21 CNY 20.59
SHUYANG JINGYUAN ASSET 7.39 04/14/21 CNY 20.00
SICHUAN CHENGDU ABA DE 7.18 09/12/20 CNY 20.30
SICHUAN CHENGDU ABA DE 7.18 09/12/20 CNY 20.00
SICHUAN COAL GASIFICAT 7.00 04/18/23 CNY 60.45
SICHUAN COAL INDUSTRY 7.70 01/09/18 CNY 45.00
SICHUAN LANGZHONG FAMO 5.60 04/19/23 CNY 60.88
SICHUAN LANGZHONG FAMO 5.60 04/19/23 CNY 60.87
SICHUAN NAXING INDUSTR 4.68 03/31/23 CNY 59.06
SICHUAN NAXING INDUSTR 4.68 03/31/23 CNY 58.24
SICHUAN NAXING INDUSTR 7.17 09/11/21 CNY 40.71
SICHUAN NAXING INDUSTR 7.17 09/11/21 CNY 40.00
SICHUAN TIANYIN INDUST 6.79 03/25/22 CNY 48.00
SICHUAN TIANYIN INDUST 6.79 03/25/22 CNY 41.27
SIHONG COUNTY HONG YUA 6.15 03/16/22 CNY 41.50
SIHONG COUNTY HONG YUA 6.15 03/16/22 CNY 40.00
SIHUI STATE OWNED ASSE 4.59 01/14/23 CNY 60.95
SIHUI STATE OWNED ASSE 4.59 01/14/23 CNY 60.32
SIYANG COUNTY MINKANG 4.94 01/21/23 CNY 60.99
SIYANG COUNTY MINKANG 4.94 01/21/23 CNY 58.68
SLENDER WEST LAKE TOUR 6.80 06/25/21 CNY 40.86
SLENDER WEST LAKE TOUR 6.80 06/25/21 CNY 40.00
SONGYUAN URBAN DEVELOP 5.79 12/04/21 CNY 40.78
SONGYUAN URBAN DEVELOP 5.79 12/04/21 CNY 40.71
SUINING CITY HEDONG DE 8.36 04/17/21 CNY 27.82
SUINING CITY HEDONG DE 8.36 04/17/21 CNY 20.76
SUINING COUNTY RUNQI I 5.42 11/20/22 CNY 60.97
SUINING COUNTY RUNQI I 5.42 11/20/22 CNY 60.00
SUINING COUNTY RUNQI I 7.10 06/25/21 CNY 40.74
SUINING COUNTY RUNQI I 7.10 06/25/21 CNY 40.30
SUINING FUYUAN INDUSTR 6.39 03/17/22 CNY 44.18
SUINING FUYUAN INDUSTR 6.39 03/17/22 CNY 41.18
SUINING KAIDA INVESTME 4.89 04/08/23 CNY 60.42
SUINING KAIDA INVESTME 4.89 04/08/23 CNY 60.09
SUINING KAIDA INVESTME 8.69 04/21/21 CNY 20.69
SUINING KAIDA INVESTME 8.69 04/21/21 CNY 20.00
SUIZHOU DEVELOPMENT IN 8.40 04/30/21 CNY 21.91
SUIZHOU DEVELOPMENT IN 8.40 04/30/21 CNY 20.84
SUIZHOU DEVELOPMENT IN 8.50 12/20/20 CNY 21.83
SUIZHOU DEVELOPMENT IN 8.50 12/20/20 CNY 20.64
SUIZHOU HIGH-TECH INDU 4.47 03/25/23 CNY 60.89
SUIZHOU HIGH-TECH INDU 4.47 03/25/23 CNY 59.18
SUIZHOU URBAN CONSTRUC 7.18 09/02/21 CNY 41.20
SUIZHOU URBAN CONSTRUC 7.18 09/02/21 CNY 41.06
SUIZHOU YULONG WATER S 6.10 03/28/23 CNY 62.80
SUNSHINE KAIDI NEW ENE 6.12 08/23/20 CNY 40.18
SUNSHINE KAIDI NEW ENE 6.12 08/23/20 CNY 29.01
SUQIAN CITY CONSTRUCTI 6.88 10/29/20 CNY 20.38
SUZHOU CITY CONSTRUCTI 3.89 03/24/23 CNY 60.81
SUZHOU CITY CONSTRUCTI 3.89 03/24/23 CNY 60.52
SUZHOU CITY HENGCHENG 4.40 03/01/23 CNY 61.85
SUZHOU CITY HENGCHENG 4.40 03/01/23 CNY 61.55
SUZHOU FENHU INVESTMEN 7.49 02/28/21 CNY 20.80
SUZHOU FENHU INVESTMEN 7.49 02/28/21 CNY 20.51
SUZHOU NEW & HIGH-TECH 4.18 03/23/23 CNY 60.50
SUZHOU NEW & HIGH-TECH 4.18 03/23/23 CNY 60.41
SUZHOU NEW DISTRICT EC 6.20 07/22/21 CNY 41.10
SUZHOU NEW DISTRICT EC 6.20 07/22/21 CNY 40.92
SUZHOU WUJIANG COMMUNI 6.80 10/31/20 CNY 25.48
SUZHOU WUJIANG COMMUNI 6.80 10/31/20 CNY 25.19
SUZHOU WUJIANG DISTRIC 5.25 07/08/22 CNY 61.83
SUZHOU WUJIANG DISTRIC 5.25 07/08/22 CNY 61.60
SUZHOU XIANGCHENG URBA 6.95 03/19/21 CNY 22.60
SUZHOU XIANGCHENG URBA 6.95 03/19/21 CNY 20.68
TAHOE GROUP CO LTD 7.50 07/05/20 CNY 70.00
TAIAN TAISHAN HOLDINGS 5.50 04/26/23 CNY 62.09
TAIAN TAISHAN HOLDINGS 5.50 04/26/23 CNY 60.92
TAICANG ASSETS MANAGEM 7.00 02/27/21 CNY 20.70
TAICANG ASSETS MANAGEM 7.00 02/27/21 CNY 20.38
TAICANG SCIENCE EDUCAT 5.54 08/28/22 CNY 64.65
TAICANG SCIENCE EDUCAT 5.54 08/28/22 CNY 61.80
TAIXING CITY CHENGXING 8.30 12/12/20 CNY 21.30
TAIXING CITY CHENGXING 8.30 12/12/20 CNY 20.43
TAIXING CITY HONGQIAO 5.03 10/29/22 CNY 63.87
TAIXING CITY HONGQIAO 5.03 10/29/22 CNY 60.87
TAIYUAN ECONOMIC TECHN 7.43 04/24/21 CNY 20.83
TAIYUAN HIGH-SPEED RAI 6.50 10/30/20 CNY 25.45
TAIYUAN HIGH-SPEED RAI 5.18 09/06/20 CNY 40.41
TAIYUAN STATE-OWNED IN 7.20 03/19/21 CNY 26.50
TAIYUAN STATE-OWNED IN 7.20 03/19/21 CNY 20.83
TAIZHOU CITY CONSTRUCT 6.92 10/16/23 CNY 64.10
TAIZHOU CITY CONSTRUCT 6.92 10/16/23 CNY 63.91
TAIZHOU CITY JIANGYAN 7.10 09/03/20 CNY 20.60
TAIZHOU CITY JIANGYAN 7.10 09/03/20 CNY 20.13
TAIZHOU HAILING CITY D 4.60 12/14/22 CNY 60.84
TAIZHOU HAILING CITY D 4.60 12/14/22 CNY 60.00
TAIZHOU JIAOJIANG STAT 6.18 07/06/22 CNY 64.00
TAIZHOU JIAOJIANG STAT 6.18 07/06/22 CNY 62.02
TAIZHOU JIAOJIANG STAT 7.46 09/13/20 CNY 26.00
TAIZHOU JIAOJIANG STAT 7.46 09/13/20 CNY 25.33
TAIZHOU XINBINJIANG DE 7.60 03/05/21 CNY 21.00
TAIZHOU XINBINJIANG DE 7.60 03/05/21 CNY 20.71
TAIZHOU XINTAI GROUP C 4.07 03/23/23 CNY 61.03
TAIZHOU XINTAI GROUP C 4.07 03/23/23 CNY 60.81
TANGSHAN CAOFEIDIAN DE 7.50 10/15/20 CNY 20.25
TIANJIN BAOXING INDUST 7.10 10/17/20 CNY 20.14
TIANJIN BEICHEN DISTRI 7.00 04/21/21 CNY 27.15
TIANJIN BEICHEN DISTRI 7.00 04/21/21 CNY 20.50
TIANJIN BEICHEN TECHNO 6.87 08/20/21 CNY 47.00
TIANJIN BEICHEN TECHNO 6.87 08/20/21 CNY 40.25
TIANJIN BINHAI NEW ARE 6.10 11/23/21 CNY 43.90
TIANJIN BOHAI STATE-OW 3.82 04/18/23 CNY 60.35
TIANJIN DONGFANG CAIXI 5.19 01/29/22 CNY 40.65
TIANJIN DONGFANG CAIXI 5.19 01/29/22 CNY 39.59
TIANJIN DONGLI CITY IN 4.28 12/02/22 CNY 59.50
TIANJIN DONGLI CITY IN 4.28 12/02/22 CNY 59.41
TIANJIN DONGLI CITY IN 6.05 06/19/20 CNY 20.01
TIANJIN ECONOMIC TECHN 6.50 12/03/22 CNY 46.30
TIANJIN ECONOMIC TECHN 6.50 12/03/22 CNY 45.62
TIANJIN GUANGCHENG INV 5.40 04/20/23 CNY 58.42
TIANJIN GUANGCHENG INV 5.40 04/20/23 CNY 58.30
TIANJIN GUANGCHENG INV 6.97 02/22/23 CNY 44.67
TIANJIN GUANGCHENG INV 6.97 02/22/23 CNY 41.65
TIANJIN GUANGCHENG INV 7.45 07/24/21 CNY 49.00
TIANJIN GUANGCHENG INV 7.45 07/24/21 CNY 40.22
TIANJIN HARBOR CONSTRU 6.29 10/21/21 CNY 70.41
TIANJIN HARBOR CONSTRU 8.00 04/01/21 CNY 41.35
TIANJIN HARBOR CONSTRU 8.80 01/24/21 CNY 41.57
TIANJIN HI-TECH INDUST 6.65 09/12/21 CNY 40.60
TIANJIN HI-TECH INDUST 6.65 09/12/21 CNY 40.51
TIANJIN HOPETONE CO LT 7.50 07/25/21 CNY 73.64
TIANJIN HUANCHENG URBA 5.75 04/27/22 CNY 41.70
TIANJIN HUANCHENG URBA 5.75 04/27/22 CNY 40.81
TIANJIN HUANCHENG URBA 7.20 03/21/21 CNY 20.53
TIANJIN HUANCHENG URBA 7.20 03/21/21 CNY 20.35
TIANJIN INFRASTRUCTURE 5.70 02/26/23 CNY 47.35
TIANJIN INFRASTRUCTURE 5.70 02/26/23 CNY 46.00
TIANJIN JINNAN CITY CO 6.50 06/03/21 CNY 40.65
TIANJIN JINNAN CITY CO 6.50 06/03/21 CNY 40.30
TIANJIN LINGANG INVEST 7.75 02/26/21 CNY 20.60
TIANJIN LINGANG INVEST 7.75 02/26/21 CNY 20.50
TIANJIN NINGHE DISTRIC 7.00 05/30/21 CNY 47.50
TIANJIN NINGHE DISTRIC 7.00 05/30/21 CNY 40.58
TIANJIN NINGHE INVESTM 5.50 04/22/23 CNY 59.76
TIANJIN NINGHE INVESTM 5.50 04/22/23 CNY 59.74
TIANJIN RAILWAY CONSTR 5.58 04/13/25 CNY 74.59
TIANJIN RAILWAY CONSTR 5.58 04/13/25 CNY 74.35
TIANJIN REAL ESTATE TR 8.59 03/13/21 CNY 20.87
TIANJIN RESIDENTIAL CO 8.00 12/19/20 CNY 20.19
TIANJIN WATER INVESTME 6.60 07/28/21 CNY 41.80
TIANJIN WATER INVESTME 6.60 07/28/21 CNY 38.95
TIANJIN WATER INVESTME 8.40 01/15/21 CNY 25.63
TIANJIN WUQING STATE-O 4.15 11/17/22 CNY 60.89
TIANJIN WUQING STATE-O 4.15 11/17/22 CNY 60.60
TIANJIN WUQING STATE-O 7.18 03/19/21 CNY 20.89
TIANJIN WUQING STATE-O 7.18 03/19/21 CNY 20.68
TIANJIN WUQING STATE-O 8.00 12/17/20 CNY 20.76
TIANJIN WUQING STATE-O 8.00 12/17/20 CNY 20.47
TIANMEN CITY CONSTRUCT 8.20 08/28/21 CNY 45.16
TIANMEN CITY CONSTRUCT 8.20 08/28/21 CNY 41.44
TIANRUI GROUP CEMENT C 5.95 09/25/20 CNY 54.00
TONGCHENG CITY CONSTRU 5.47 11/09/22 CNY 61.05
TONGCHENG CITY CONSTRU 5.47 11/09/22 CNY 60.00
TONGLING CONSTRUCTION 4.12 03/14/23 CNY 60.57
TONGLING CONSTRUCTION 4.12 03/14/23 CNY 60.00
TONGLING CONSTRUCTION 6.98 08/26/20 CNY 22.50
TONGLING CONSTRUCTION 6.98 08/26/20 CNY 20.20
TONGLING DAJIANG INVES 6.50 01/19/22 CNY 48.00
TONGLING DAJIANG INVES 6.50 01/19/22 CNY 41.29
TONGLU STATE-OWNED ASS 8.09 04/18/21 CNY 20.98
TONGLU STATE-OWNED ASS 8.09 04/18/21 CNY 20.86
TONGXIANG CITY CONSTRU 6.10 05/16/20 CNY 20.01
TONGXIANG CITY CONSTRU 6.10 05/16/20 CNY 20.01
TSINGHUA UNIGROUP CO L 5.20 12/10/23 CNY 54.00
TSINGHUA UNIGROUP CO L 4.94 03/25/22 CNY 70.00
TULUFAN DISTRICT STATE 6.20 03/19/22 CNY 41.40
TULUFAN DISTRICT STATE 6.20 03/19/22 CNY 41.38
TUNGHSU GROUP CO LTD 6.55 03/13/22 CNY 45.00
ULANQAB CITY INVESTMEN 8.39 04/25/22 CNY 52.47
ULANQAB JINING DISTRIC 6.16 03/24/23 CNY 62.06
ULANQAB JINING DISTRIC 6.16 03/24/23 CNY 59.19
URUMQI ECO&TECH DEVELO 6.40 04/13/22 CNY 41.88
URUMQI ECO&TECH DEVELO 6.40 04/13/22 CNY 40.00
WAFANGDIAN COASTAL PRO 3.98 02/01/23 CNY 59.26
WAFANGDIAN COASTAL PRO 3.98 02/01/23 CNY 58.28
WANGCHENG ECONOMIC DEV 6.57 01/22/22 CNY 48.81
WANGCHENG ECONOMIC DEV 6.57 01/22/22 CNY 41.51
WEICHI HOLDING GROUP C 5.40 12/21/20 CNY 54.29
WEIFANG BINHAI INVESTM 6.16 04/16/21 CNY 25.66
WEIHAI LANCHUANG CONST 4.80 12/17/22 CNY 60.62
WEIHAI LANCHUANG CONST 4.80 12/17/22 CNY 59.39
WEIHAI URBAN CONSTRUCT 3.33 03/02/23 CNY 60.20
WEIHAI URBAN CONSTRUCT 3.33 03/02/23 CNY 58.40
WEINAN CITY INVESTMENT 6.09 03/11/22 CNY 41.58
WEINAN CITY INVESTMENT 6.09 03/11/22 CNY 40.00
WENDENG GOLDEN BEACH I 3.97 03/21/23 CNY 60.46
WENDENG GOLDEN BEACH I 3.97 03/21/23 CNY 59.70
WENZHOU CITY CONSTRUCT 5.00 04/26/23 CNY 62.61
WENZHOU CITY CONSTRUCT 5.00 04/26/23 CNY 62.57
WENZHOU CITY CONSTRUCT 4.05 01/25/23 CNY 61.29
WENZHOU CITY CONSTRUCT 4.05 01/25/23 CNY 61.26
WENZHOU GANGCHENG DEVE 5.19 03/29/23 CNY 61.29
WENZHOU GANGCHENG DEVE 5.19 03/29/23 CNY 61.28
WENZHOU HIGH-TECH INDU 7.30 05/30/21 CNY 40.75
WENZHOU HIGH-TECH INDU 7.95 03/21/21 CNY 20.77
WENZHOU LUCHENG CITY D 5.58 11/03/21 CNY 43.00
WENZHOU LUCHENG CITY D 5.58 11/03/21 CNY 40.92
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 CONSTRUCTIO 8.19 04/21/21 CNY 20.78
WUHAN CHEDU CORP LTD 7.18 02/27/21 CNY 20.96
WUHAN CHEDU CORP LTD 7.18 02/27/21 CNY 20.74
WUHAN CITY HUANPI DIST 6.43 09/17/21 CNY 43.02
WUHAN CITY HUANPI DIST 6.43 09/17/21 CNY 41.35
WUHAN JIANGXIA URBAN C 8.99 01/20/21 CNY 20.92
WUHAN METRO GROUP CO L 5.25 04/14/22 CNY 41.50
WUHAN METRO GROUP CO L 5.25 04/14/22 CNY 40.96
WUHU COMMUNICATIONS IN 4.50 04/28/23 CNY 61.32
WUHU COMMUNICATIONS IN 4.50 04/28/23 CNY 61.22
WUHU COUNTY CONSTRUCTI 6.60 12/08/21 CNY 46.35
WUHU COUNTY CONSTRUCTI 6.60 12/08/21 CNY 41.22
WUHU JINGHU CONSTRUCTI 6.68 05/16/20 CNY 20.02
WUHU JIUJIANG CONSTRUC 3.96 03/21/23 CNY 60.61
WUHU JIUJIANG CONSTRUC 3.96 03/21/23 CNY 60.49
WUHU JIUJIANG CONSTRUC 8.49 04/14/21 CNY 20.90
WUHU JIUJIANG CONSTRUC 8.49 04/14/21 CNY 20.00
WUHU XINMA INVESTMENT 4.87 11/04/22 CNY 61.52
WUHU XINMA INVESTMENT 4.87 11/04/22 CNY 59.40
WUHU YIJU INVESTMENT G 6.45 08/11/21 CNY 41.45
WUHU YIJU INVESTMENT G 6.45 08/11/21 CNY 41.27
WUWEI CITY ECONOMY DEV 8.20 04/24/21 CNY 20.57
WUWEI CITY ECONOMY DEV 8.20 04/24/21 CNY 20.00
WUWEI CITY ECONOMY DEV 8.20 12/09/20 CNY 20.57
WUWEI CITY ECONOMY DEV 8.20 12/09/20 CNY 20.40
WUXI HUIKAI ECONOMIC D 4.16 04/08/23 CNY 60.70
WUXI HUIKAI ECONOMIC D 4.16 04/08/23 CNY 59.83
WUXI HUNING METRO HUIS 4.38 06/08/21 CNY 70.61
WUXI HUNING METRO HUIS 4.38 06/08/21 CNY 70.45
WUXI MUNICIPAL DEVELOP 6.10 10/11/20 CNY 20.32
WUXI MUNICIPAL DEVELOP 6.10 10/11/20 CNY 20.23
WUXI TAIHU NEW CITY DE 4.49 05/03/23 CNY 61.87
WUYANG CONSTRUCTION GR 7.80 09/11/20 CNY 32.48
WUZHONG URBAN RURAL CO 7.18 10/12/20 CNY 20.34
WUZHONG URBAN RURAL CO 7.18 10/12/20 CNY 20.33
XIAMEN TORCH GROUP CO 7.49 04/21/21 CNY 24.88
XIAMEN TORCH GROUP CO 7.49 04/21/21 CNY 20.63
XIAN FENGDONG DEVELOPM 4.67 01/08/23 CNY 60.52
XIAN FENGDONG DEVELOPM 4.67 01/08/23 CNY 60.23
XI'AN INTERNATIONAL HO 6.20 10/21/21 CNY 41.46
XI'AN INTERNATIONAL HO 6.20 10/21/21 CNY 40.70
XI'AN INTERNATIONAL IN 7.90 09/23/21 CNY 42.28
XIANGSHUI GUANJIANG HO 4.98 12/24/22 CNY 63.20
XIANGSHUI GUANJIANG HO 4.98 12/24/22 CNY 60.43
XIANGTAN CITY CONSTRUC 7.80 01/30/22 CNY 54.00
XIANGTAN HI-TECH GROUP 8.16 02/25/21 CNY 20.37
XIANGTAN JIUHUA ECONOM 5.00 07/25/26 CNY 74.39
XIANGTAN JIUHUA ECONOM 6.59 01/21/22 CNY 38.33
XIANGTAN JIUHUA ECONOM 7.15 10/15/20 CNY 19.86
XIANGTAN JIUHUA ECONOM 7.15 10/15/20 CNY 19.67
XIANGTAN LIANGXING SOC 7.89 04/23/21 CNY 20.40
XIANGTAN WANLOU XINCHE 6.90 01/14/22 CNY 40.12
XIANGTAN WANLOU XINCHE 6.90 01/14/22 CNY 35.49
XIANGTAN ZHENXIANG STA 6.60 08/07/20 CNY 20.06
XIANGTAN ZHENXIANG STA 6.60 08/07/20 CNY 20.00
XIANGYANG CITY XIANGZH 5.18 04/28/23 CNY 61.87
XIANGYANG CITY XIANGZH 5.18 04/28/23 CNY 61.57
XIANGYANG HIGH TECH ST 7.00 05/29/21 CNY 43.38
XIANGYANG HIGH TECH ST 7.00 05/29/21 CNY 40.79
XIANGYANG STATE-OWNED 4.62 01/25/23 CNY 61.02
XIANGYANG STATE-OWNED 4.62 01/25/23 CNY 60.59
XIANNING HIGH-TECH INV 6.29 02/10/22 CNY 45.00
XIANNING HIGH-TECH INV 6.29 02/10/22 CNY 41.05
XIANNING HIGH-TECH INV 5.80 06/05/20 CNY 20.24
XIANNING HIGH-TECH INV 5.80 06/05/20 CNY 20.04
XIANTAO CITY CONSTRUCT 4.59 04/18/23 CNY 61.22
XIANTAO CITY CONSTRUCT 4.59 04/18/23 CNY 61.06
XIANTAO CITY CONSTRUCT 8.15 02/24/21 CNY 20.83
XIANTAO CITY CONSTRUCT 8.15 02/24/21 CNY 20.50
XIAOGAN GAOCHUANG INVE 6.87 09/22/21 CNY 46.69
XIAOGAN GAOCHUANG INVE 6.87 09/22/21 CNY 41.17
XIAOGAN GAOCHUANG INVE 7.43 06/23/21 CNY 52.72
XIAOGAN GAOCHUANG INVE 7.43 06/23/21 CNY 40.94
XIAOGAN URBAN CONSTRUC 6.89 05/29/21 CNY 40.97
XINDONGGANG HOLDING GR 5.53 04/27/23 CNY 61.15
XINDONGGANG HOLDING GR 5.53 04/27/23 CNY 60.81
XINGAN LEAGUE URBAN DE 6.18 12/21/22 CNY 43.37
XINGAN LEAGUE URBAN DE 6.18 12/21/22 CNY 43.37
XINGHUA URBAN CONSTRUC 7.36 07/15/20 CNY 25.14
XINGHUA URBAN CONSTRUC 7.36 07/15/20 CNY 25.00
XINGYI XINHENG URBAN C 5.40 12/16/22 CNY 60.00
XINGYI XINHENG URBAN C 5.40 12/16/22 CNY 59.27
XINING ECONOMIC DEVELO 5.90 06/04/20 CNY 20.04
XINING ECONOMIC DEVELO 5.90 06/04/20 CNY 20.00
XINJIANG HUIFENG URBAN 3.60 03/16/23 CNY 60.57
XINJIANG HUIFENG URBAN 3.60 03/16/23 CNY 60.49
XINJIANG KAIDI INVESTM 7.80 04/22/21 CNY 21.35
XINJIANG KAIDI INVESTM 7.80 04/22/21 CNY 20.38
XINJIANG RUNSHENG INVE 7.15 07/10/20 CNY 25.38
XINJIANG RUNSHENG INVE 7.15 07/10/20 CNY 25.11
XINMI CAIYUAN CITY CON 4.35 02/28/23 CNY 60.77
XINMI CAIYUAN CITY CON 4.35 02/28/23 CNY 60.70
XINTAI CITY COORDINATI 6.35 03/23/22 CNY 41.34
XINTAI CITY COORDINATI 6.35 03/23/22 CNY 40.75
XINYANG HONGCHANG PIPE 6.49 06/20/20 CNY 72.87
XINYANG HUAXIN INVESTM 7.55 04/15/21 CNY 26.30
XINYANG HUAXIN INVESTM 7.55 04/15/21 CNY 20.79
XINYI CITY INVESTMENT 4.30 01/19/23 CNY 60.54
XINYI CITY INVESTMENT 4.30 01/19/23 CNY 60.00
XINYI CITY INVESTMENT 7.39 10/15/20 CNY 20.45
XINYI CITY INVESTMENT 7.39 10/15/20 CNY 20.40
XINYI URBAN TRANSPORTA 6.14 02/06/22 CNY 41.53
XINYI URBAN TRANSPORTA 6.14 02/06/22 CNY 41.50
XINYU CHENGDONG CONSTR 8.48 05/27/21 CNY 47.00
XINYU CHENGDONG CONSTR 8.48 05/27/21 CNY 40.79
XINYU CITY SHANTYTOWN 6.42 12/09/20 CNY 40.43
XINYU CITY YUSHUI DIST 7.70 06/24/22 CNY 61.70
XINYU CITY YUSHUI DIST 7.70 06/24/22 CNY 61.39
XINZHENG NEW DISTRICT 5.40 03/29/21 CNY 33.71
XINZHENG NEW DISTRICT 6.40 01/29/21 CNY 25.58
XINZHOU ASSET MANAGEME 7.90 02/21/21 CNY 21.07
XINZHOU ASSET MANAGEME 7.90 02/21/21 CNY 20.68
XINZHOU ASSET MANAGEME 8.50 12/18/20 CNY 20.68
XINZHOU ASSET MANAGEME 8.50 12/18/20 CNY 20.00
XIUSHAN INDUSTRY DEVEL 5.85 04/14/23 CNY 61.13
XIUSHAN INDUSTRY DEVEL 5.85 04/14/23 CNY 60.50
XIWANG GROUP CO LTD 7.80 12/03/22 CNY 49.94
XUANCHENG CITY ECONOMY 7.95 09/22/21 CNY 46.00
XUANCHENG CITY ECONOMY 7.95 09/22/21 CNY 41.39
XUANCHENG STATE-OWNED 4.12 04/07/23 CNY 61.26
XUANCHENG STATE-OWNED 4.12 04/07/23 CNY 61.19
XUANCHENG STATE-OWNED 7.95 03/27/21 CNY 26.00
XUANCHENG STATE-OWNED 7.95 03/27/21 CNY 20.90
XUZHOU BOCHANT DEVELOP 5.69 07/28/21 CNY 66.62
XUZHOU CITY JIAWANG CO 4.00 03/23/23 CNY 60.63
XUZHOU CITY JIAWANG CO 4.00 03/23/23 CNY 60.30
XUZHOU CITY TONGSHAN D 5.23 09/18/22 CNY 61.53
XUZHOU CITY TONGSHAN D 5.23 09/18/22 CNY 60.00
XUZHOU CITY TONGSHAN D 6.60 08/08/20 CNY 20.66
XUZHOU CITY TONGSHAN D 6.60 08/08/20 CNY 20.19
XUZHOU ECONOMIC TECHNO 7.35 04/21/21 CNY 20.92
XUZHOU HI-TECH INDUSTR 7.86 04/22/21 CNY 31.50
XUZHOU HI-TECH INDUSTR 7.86 04/22/21 CNY 20.75
XUZHOU TRANSPORTATION 7.09 05/15/21 CNY 41.00
XUZHOU TRANSPORTATION 7.09 05/15/21 CNY 40.88
XUZHOU XINSHENG INVEST 5.13 08/12/22 CNY 64.46
XUZHOU XINSHENG INVEST 5.13 08/12/22 CNY 62.10
YA'AN DEVELOPMENT INVE 7.00 09/13/20 CNY 20.21
YA'AN DEVELOPMENT INVE 7.00 09/13/20 CNY 20.20
YANCHENG CITY TINGHU D 7.95 11/15/20 CNY 20.36
YANCHENG CITY TINGHU D 7.95 11/15/20 CNY 18.30
YANCHENG DAFENG DISTRI 8.70 01/24/21 CNY 20.97
YANCHENG DAFENG DISTRI 8.70 01/24/21 CNY 20.71
YANCHENG DAFENG DISTRI 8.50 12/30/20 CNY 20.62
YANCHENG DAFENG DISTRI 8.50 12/30/20 CNY 20.60
YANCHENG HIGH-TECH ZON 3.90 12/14/22 CNY 60.80
YANCHENG HIGH-TECH ZON 3.90 12/14/22 CNY 60.40
YANCHENG ORIENTAL INVE 6.48 09/15/21 CNY 41.07
YANCHENG ORIENTAL INVE 6.48 09/15/21 CNY 40.55
YANCHENG SOUTH DISTRIC 6.70 07/30/21 CNY 41.29
YANCHENG YANDU DISTRIC 3.67 03/17/23 CNY 59.68
YANCHENG YANDU DISTRIC 3.67 03/17/23 CNY 58.56
YANGJIANG HENGCAI CITY 6.24 04/14/22 CNY 41.86
YANGJIANG HENGCAI CITY 6.24 04/14/22 CNY 40.00
YANGJIANG HENGCAI CITY 6.85 09/09/20 CNY 20.22
YANGZHONG TRANSPORTATI 4.98 04/07/23 CNY 61.60
YANGZHONG TRANSPORTATI 4.95 04/07/23 CNY 61.55
YANGZHONG TRANSPORTATI 4.95 04/07/23 CNY 61.20
YANGZHONG TRANSPORTATI 4.98 04/07/23 CNY 60.99
YANGZHOU CHEMICAL INDU 8.58 01/24/21 CNY 26.00
YANGZHOU CHEMICAL INDU 8.58 01/24/21 CNY 20.50
YANGZHOU ECONOMIC & TE 7.40 03/05/21 CNY 41.51
YANGZHOU ECONOMIC & TE 7.40 03/05/21 CNY 40.00
YANGZHOU HANJIANG CONS 5.88 06/15/22 CNY 66.63
YANGZHOU HANJIANG CONS 5.88 06/15/22 CNY 61.78
YANGZHOU JIANGDU YANJI 7.48 07/29/20 CNY 25.24
YANGZHOU JIANGDU YANJI 7.48 07/29/20 CNY 25.22
YI CHENG CONSTRUCTION 5.44 04/27/23 CNY 60.49
YI ZHENG CITY DEVELOPM 4.63 01/08/23 CNY 60.82
YI ZHENG CITY DEVELOPM 4.63 01/08/23 CNY 60.00
YI ZHENG CITY DEVELOPM 8.60 01/09/21 CNY 29.30
YI ZHENG CITY DEVELOPM 8.60 01/09/21 CNY 20.61
YICHANG HIGH-TECH INVE 4.80 12/15/22 CNY 61.77
YICHANG HIGH-TECH INVE 4.80 12/15/22 CNY 60.00
YICHUN URBAN CONSTRUCT 7.09 05/15/21 CNY 43.47
YICHUN URBAN CONSTRUCT 7.09 05/15/21 CNY 40.79
YICHUN VENTURE CAPITAL 6.70 03/23/22 CNY 40.76
YICHUN VENTURE CAPITAL 6.70 03/23/22 CNY 40.61
YIHUA ENTERPRISE GROUP 6.50 05/02/22 CNY 72.33
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 TECHNO 6.88 07/23/20 CNY 35.00
YIHUA LIFESTYLE TECHNO 6.88 07/16/20 CNY 35.90
YILI KAZAKH AUTONOMOUS 7.68 02/28/21 CNY 20.84
YINCHUAN URBAN CONSTRU 6.88 05/12/21 CNY 40.90
YINGKOU COASTAL DEVELO 6.45 01/26/22 CNY 40.29
YINGKOU COASTAL DEVELO 6.45 01/26/22 CNY 39.68
YINGKOU LAOBIAN CITY C 4.98 03/11/23 CNY 60.00
YINGKOU LAOBIAN CITY C 4.98 03/11/23 CNY 59.42
YINGKOU LAOBIAN CITY C 5.63 12/16/22 CNY 60.00
YINGKOU LAOBIAN CITY C 5.63 12/16/22 CNY 59.96
YINGTAN INVESTMENT CO 7.50 12/12/22 CNY 47.66
YINGTAN INVESTMENT CO 7.50 12/12/22 CNY 47.64
YINGTAN INVESTMENT CO 3.63 08/12/21 CNY 70.36
YINGTAN LONGGANG ASSET 6.75 07/31/22 CNY 61.18
YINGTAN LONGGANG ASSET 6.75 07/31/22 CNY 60.63
YINING CITY STATE OWNE 5.37 09/24/22 CNY 61.40
YINING CITY STATE OWNE 5.37 09/24/22 CNY 60.19
YINING CITY STATE OWNE 8.90 01/23/21 CNY 29.95
YINING CITY STATE OWNE 8.90 01/23/21 CNY 20.73
YIWU CITY CONSTRUCTION 4.31 12/07/22 CNY 61.18
YIWU CITY CONSTRUCTION 4.31 12/07/22 CNY 60.40
YIWU URBAN & RURAL NEW 4.25 11/24/21 CNY 50.41
YIXING CITY CONSTRUCTI 6.16 03/30/22 CNY 41.95
YIXING CITY CONSTRUCTI 6.16 03/30/22 CNY 40.00
YIXING TUOYE INDUSTRIA 7.60 05/28/21 CNY 43.50
YIXING TUOYE INDUSTRIA 7.60 05/28/21 CNY 40.81
YIYANG ADVANCED INDUST 7.00 03/30/22 CNY 48.00
YIYANG ADVANCED INDUST 7.00 03/30/22 CNY 41.19
YONG ZHOU CITY CONSTRU 7.30 10/23/20 CNY 20.40
YONGJIA INVESTMENT GRO 6.50 11/12/21 CNY 41.18
YONGJIA INVESTMENT GRO 6.50 11/12/21 CNY 40.00
YONGXING YINDU CONSTRU 5.60 03/24/23 CNY 60.82
YONGXING YINDU CONSTRU 5.60 03/24/23 CNY 60.06
YONGZHOU ECONOMIC CONS 3.55 01/14/23 CNY 59.63
YONGZHOU ECONOMIC CONS 3.55 01/14/23 CNY 59.20
YUEYANG CITY DONGTING 6.15 03/20/22 CNY 40.95
YUEYANG CITY DONGTING 6.15 03/20/22 CNY 40.73
YUEYANG HUILIN INVESTM 5.50 11/03/21 CNY 40.29
YUEYANG HUILIN INVESTM 5.50 11/03/21 CNY 40.00
YUEYANG URBAN CONSTRUC 6.05 07/12/20 CNY 20.11
YUHUAN CITY COMMUNICAT 6.18 03/20/22 CNY 44.47
YUHUAN CITY COMMUNICAT 6.18 03/20/22 CNY 41.59
YUHUAN CITY COMMUNICAT 5.65 11/03/21 CNY 44.50
YUHUAN CITY COMMUNICAT 5.65 11/03/21 CNY 40.93
YUHUAN CITY CONSTRUCTI 5.10 05/03/23 CNY 62.10
YUNNAN METROPOLITAN CO 6.77 05/23/21 CNY 40.32
YUYAO CITY CONSTRUCTIO 7.09 05/19/21 CNY 41.02
YUZHOU GENERAL INVESTM 4.68 01/19/23 CNY 60.65
YUZHOU GENERAL INVESTM 4.68 01/19/23 CNY 60.00
ZAOYANG CITY CONSTRUCT 5.50 03/22/23 CNY 62.02
ZAOYANG CITY CONSTRUCT 5.50 03/22/23 CNY 60.55
ZHANGJIAGANG FREE TRAD 7.10 08/23/20 CNY 26.04
ZHANGJIAGANG FREE TRAD 7.10 08/23/20 CNY 20.14
ZHANGJIAGANG JINCHENG 6.88 04/28/21 CNY 40.90
ZHANGJIAJIE ECONOMIC D 7.80 04/17/21 CNY 20.74
ZHANGYE CITY INVESTMEN 6.92 09/22/21 CNY 40.90
ZHANGYE CITY INVESTMEN 6.92 09/22/21 CNY 40.89
ZHANGZHOU ECONOMIC DEV 6.17 04/27/22 CNY 41.22
ZHANGZHOU ECONOMIC DEV 6.17 04/27/22 CNY 40.00
ZHANGZHOU JIULONGJIANG 6.48 06/20/21 CNY 41.00
ZHANGZHOU JIULONGJIANG 6.48 06/20/21 CNY 40.89
ZHANJIANG INFRASTRUCTU 6.93 10/21/20 CNY 20.39
ZHAOQING GAOYAO DISTRI 6.68 04/14/22 CNY 41.56
ZHAOQING GAOYAO DISTRI 6.68 04/14/22 CNY 40.00
ZHEJIANG BINHAI NEW CI 4.65 12/23/22 CNY 61.44
ZHEJIANG BINHAI NEW CI 4.65 12/23/22 CNY 60.00
ZHEJIANG CHANGXING JIN 7.99 03/03/21 CNY 30.00
ZHEJIANG CHANGXING JIN 7.99 03/03/21 CNY 20.54
ZHEJIANG GUOXING INVES 6.94 08/01/21 CNY 48.50
ZHEJIANG GUOXING INVES 6.94 08/01/21 CNY 41.09
ZHEJIANG HUISHENG INVE 4.49 03/15/24 CNY 71.44
ZHEJIANG HUISHENG INVE 4.49 03/15/24 CNY 70.00
ZHEJIANG OUHAI CONSTRU 4.83 01/21/23 CNY 61.20
ZHEJIANG OUHAI CONSTRU 4.83 01/21/23 CNY 60.00
ZHEJIANG OUHAI CONSTRU 6.45 04/23/22 CNY 41.39
ZHEJIANG OUHAI CONSTRU 6.45 04/23/22 CNY 40.00
ZHEJIANG PROVINCE XINC 6.95 12/31/21 CNY 41.87
ZHEJIANG PROVINCE XINC 6.95 12/31/21 CNY 41.64
ZHEJIANG PROVINCE XINC 5.88 10/30/21 CNY 41.21
ZHEJIANG PROVINCE XINC 5.88 10/30/21 CNY 41.06
ZHENGZHOU JINGKAI INVE 5.48 07/31/22 CNY 61.80
ZHENGZHOU JINGKAI INVE 5.48 07/31/22 CNY 60.00
ZHENGZHOU MOUZHONG DEV 4.59 04/18/23 CNY 61.50
ZHENGZHOU MOUZHONG DEV 4.59 04/18/23 CNY 61.18
ZHENGZHOU MOUZHONG DEV 7.48 12/11/21 CNY 46.20
ZHENGZHOU MOUZHONG DEV 7.48 12/11/21 CNY 41.41
ZHENGZHOU PUBLIC HOUSI 5.98 07/17/20 CNY 20.15
ZHENGZHOU PUBLIC HOUSI 5.98 07/17/20 CNY 20.12
ZHENJIANG CITY CONSTRU 8.20 01/13/21 CNY 28.49
ZHENJIANG CITY CONSTRU 8.20 01/13/21 CNY 20.67
ZHENJIANG CITY CONSTRU 7.90 12/18/20 CNY 28.50
ZHENJIANG CITY CONSTRU 7.90 12/18/20 CNY 20.55
ZHENJIANG DANTU DISTRI 5.89 11/03/21 CNY 40.17
ZHENJIANG DANTU DISTRI 5.89 11/03/21 CNY 39.60
ZHENJIANG NEW AREA URB 8.35 02/26/21 CNY 20.59
ZHENJIANG NEW AREA URB 8.99 01/16/21 CNY 20.51
ZHIJIANG STATE-OWNED A 4.38 03/28/23 CNY 64.70
ZHIJIANG STATE-OWNED A 4.38 03/28/23 CNY 60.52
ZHIJIANG STATE-OWNED A 4.78 01/11/23 CNY 60.45
ZHIJIANG STATE-OWNED A 4.78 01/11/23 CNY 60.00
ZHONGGUANCUN DEVELOPME 4.20 08/12/22 CNY 60.69
ZHONGGUANCUN DEVELOPME 4.20 08/12/22 CNY 60.65
ZHONGMINTOU LEASING HO 7.55 09/21/21 CNY 49.49
ZHONGRONG XINDA GROUP 7.10 01/22/21 CNY 33.70
ZHONGSHAN TRANSPORTATI 5.25 11/26/21 CNY 41.01
ZHONGSHAN TRANSPORTATI 5.25 11/26/21 CNY 40.00
ZHONGTIAN FINANCIAL GR 7.00 10/15/20 CNY 15.00
ZHOUKOU INVESTMENT GRO 7.49 04/21/21 CNY 20.53
ZHOUSHAN DINGHAI STATE 7.13 08/04/21 CNY 41.40
ZHOUSHAN DINGHAI STATE 7.13 08/04/21 CNY 41.18
ZHOUSHAN DINGHAI STATE 7.25 08/31/20 CNY 26.65
ZHOUSHAN DINGHAI STATE 7.25 08/31/20 CNY 25.38
ZHOUSHAN ISLANDS NEW D 6.98 10/22/22 CNY 57.19
ZHOUSHAN ISLANDS NEW D 6.98 10/22/22 CNY 56.54
ZHOUSHAN PUTUO DISTRIC 7.18 06/20/22 CNY 57.44
ZHOUSHAN PUTUO DISTRIC 7.18 06/20/22 CNY 56.90
ZHUHAI HUIHUA INFRASTR 7.15 09/17/20 CNY 21.15
ZHUHAI HUIHUA INFRASTR 7.15 09/17/20 CNY 20.31
ZHUJI CITY YUEDU INVES 6.38 04/07/22 CNY 41.80
ZHUJI CITY YUEDU INVES 6.38 04/07/22 CNY 41.77
ZHUJI CITY YUEDU INVES 8.20 12/12/20 CNY 24.50
ZHUJI CITY YUEDU INVES 8.20 12/12/20 CNY 20.61
ZHUZHOU CITY CONSTRUCT 8.36 11/10/21 CNY 43.75
ZHUZHOU CITY CONSTRUCT 6.95 10/16/20 CNY 20.30
ZHUZHOU CITY CONSTRUCT 6.95 10/16/20 CNY 20.26
ZHUZHOU GECKOR GROUP C 6.38 04/17/22 CNY 41.54
ZHUZHOU GECKOR GROUP C 6.38 04/17/22 CNY 40.00
ZHUZHOU GECKOR GROUP C 6.95 08/11/21 CNY 41.05
ZHUZHOU GECKOR GROUP C 6.95 08/11/21 CNY 40.86
ZHUZHOU RECYCLING ECON 4.38 03/24/23 CNY 57.37
ZHUZHOU RECYCLING ECON 4.38 03/24/23 CNY 56.83
ZHUZHOU XIANGJIANG SCE 5.39 11/25/22 CNY 61.23
ZHUZHOU XIANGJIANG SCE 5.39 11/25/22 CNY 60.95
ZIBO BANYANG CITY URBA 5.50 09/09/22 CNY 60.67
ZIBO BANYANG CITY URBA 5.50 09/09/22 CNY 60.00
ZIYANG WATER INVESTMEN 3.97 03/17/23 CNY 60.11
ZIYANG WATER INVESTMEN 3.97 03/17/23 CNY 59.77
ZIYANG WATER INVESTMEN 7.40 10/21/20 CNY 20.34
ZIYANG WATER INVESTMEN 7.40 10/21/20 CNY 20.00
ZIZHONG COUNTY XINGZI 5.97 01/18/23 CNY 60.92
ZIZHONG COUNTY XINGZI 5.97 01/18/23 CNY 59.68
ZJ HZ QINGSHAN LAKE SC 7.90 04/23/21 CNY 24.00
ZJ HZ QINGSHAN LAKE SC 7.90 04/23/21 CNY 20.88
ZUNYI ECONOMIC DEVELOP 4.87 01/22/23 CNY 60.00
ZUNYI ECONOMIC DEVELOP 4.87 01/22/23 CNY 58.58
ZUNYI NEW DISTRICT DEV 5.99 04/07/26 CNY 70.61
ZUNYI NEW DISTRICT DEV 5.99 04/07/26 CNY 69.69
ZUNYI ROAD & BRIDGE CO 6.10 04/27/23 CNY 57.96
ZUNYI ROAD & BRIDGE CO 6.10 04/27/23 CNY 53.80
INDONESIA
---------
ABM INVESTAMA TBK PT 7.13 08/01/22 USD 54.27
ABM INVESTAMA TBK PT 7.13 08/01/22 USD 52.34
BERAU COAL ENERGY TBK 7.25 03/13/17 USD 40.00
BERAU COAL ENERGY TBK 7.25 03/13/17 USD 40.00
DAVOMAS INTERNATIONAL 11.00 12/08/14 USD 0.11
DAVOMAS INTERNATIONAL 11.00 12/08/14 USD 0.11
DAVOMAS INTERNATIONAL 11.00 05/09/11 USD 0.11
DAVOMAS INTERNATIONAL 11.00 05/09/11 USD 0.11
DELTA MERLIN DUNIA TEK 8.63 03/12/24 USD 9.91
DELTA MERLIN DUNIA TEK 8.63 03/12/24 USD 9.72
INDIA
-----
3I INFOTECH LTD 2.50 03/31/25 USD 4.27
ACME FAZILKA POWER PVT 0.01 09/07/46 INR 17.14
AMPSOLAR SOLUTION PVT 0.01 11/03/37 INR 25.22
AMPSOLAR SOLUTION PVT 0.01 10/27/37 INR 25.26
APG HABITAT PVT LTD 1.00 09/09/28 INR 55.86
APG INTELLI HOMES PVT 1.25 02/04/35 INR 42.13
APG INTELLI HOMES PVT 1.25 02/04/35 INR 39.77
AUTOMOTIVE EXCHANGE PV 4.00 10/11/30 INR 60.50
AUTOMOTIVE EXCHANGE PV 4.00 06/01/30 INR 60.53
BENGAL AEROTROPOLIS PR 5.00 12/01/30 INR 73.11
BENGAL AEROTROPOLIS PR 5.00 12/01/29 INR 74.57
BRITANNIA INDUSTRIES L 8.00 08/28/22 INR 30.27
BUKIT MAKMUR MANDIRI U 7.75 02/13/22 USD 66.70
BUKIT MAKMUR MANDIRI U 7.75 02/13/22 USD 64.32
CREIXENT SPECIAL STEEL 0.01 08/28/25 INR 62.35
CUMULUS TRADING CO PVT 0.01 05/21/32 INR 36.04
CUMULUS TRADING CO PVT 0.01 01/23/30 INR 58.24
DAYAKARA SOLAR POWER P 0.10 04/05/26 INR 60.32
DEWAN HOUSING FINANCE 8.50 04/18/23 INR 21.72
DLF CYBER CITY DEVELOP 0.01 11/19/24 INR 71.11
EDELWEISS ASSET RECONS 2.00 07/22/29 INR 59.85
EDELWEISS ASSET RECONS 2.00 01/15/29 INR 61.38
EDELWEISS ASSET RECONS 2.00 10/07/28 INR 62.23
EDELWEISS ASSET RECONS 2.00 11/20/27 INR 65.18
EDELWEISS ASSET RECONS 2.00 03/28/27 INR 67.22
FUTURE RETAIL LTD 5.60 01/22/25 USD 27.41
FUTURE RETAIL LTD 5.60 01/22/25 USD 25.93
GAJAH TUNGGAL TBK PT 8.38 08/10/22 USD 65.32
GREEN URJA PVT LTD 0.01 02/14/30 INR 44.65
GTL INFRASTRUCTURE LTD 6.73 10/26/22 USD 4.00
HINDUSTAN CONSTRUCTION 0.01 01/05/27 INR 56.25
HITODI INFRASTRUCTURE 0.01 06/30/27 INR 52.78
INDIA INFOLINE FINANCE 5.88 04/20/23 USD 63.35
INDIABULLS HOUSING FIN 6.38 05/28/22 USD 57.75
JAIPRAKASH ASSOCIATES 5.75 09/08/17 USD 55.13
JAIPRAKASH POWER VENTU 7.00 05/15/17 USD 3.22
JCT LTD 2.50 04/08/11 USD 25.75
JSM CORP PVT LTD 0.01 08/31/36 INR 26.85
JTPM ATSALI LTD 0.01 08/29/48 INR 13.57
KANAKADURGA FINANCE LT 0.01 04/15/36 INR 25.47
KVK ENERGY & INFRASTRU 0.01 01/25/24 INR 72.73
MARIS POWER SUPPLY CO 2.00 04/18/28 INR 63.44
MYTRAH AADHYA POWER PV 0.01 07/05/35 INR 29.74
MYTRAH ADVAITH POWER P 0.01 07/13/36 INR 27.63
MYTRAH AKSHAYA ENERGY 0.01 07/13/36 INR 27.63
ORIGAMI CELLULO PVT LT 0.01 11/14/36 INR 26.57
PRAKASH INDUSTRIES LTD 5.25 04/30/15 USD 22.63
PUNJAB INFRASTRUCTURE 0.40 10/15/33 INR 42.29
PUNJAB INFRASTRUCTURE 0.40 10/15/32 INR 45.06
PUNJAB INFRASTRUCTURE 0.40 10/15/31 INR 48.08
PUNJAB INFRASTRUCTURE 0.40 10/15/30 INR 51.38
PUNJAB INFRASTRUCTURE 0.40 10/15/29 INR 55.01
PUNJAB INFRASTRUCTURE 0.40 10/15/28 INR 58.99
PUNJAB INFRASTRUCTURE 0.40 10/15/27 INR 63.34
PUNJAB INFRASTRUCTURE 0.40 10/15/26 INR 68.04
PUNJAB INFRASTRUCTURE 0.40 10/15/25 INR 73.08
PYRAMID SAIMIRA THEATR 1.75 07/04/12 USD 0.26
R L FINE CHEM PVT LTD 0.10 08/19/36 INR 27.32
REDKITE CAPITAL PVT LT 2.50 03/30/29 INR 63.50
REDKITE CAPITAL PVT LT 2.50 01/15/28 INR 66.88
REI AGRO LTD 5.50 11/13/14 USD 0.58
REI AGRO LTD 5.50 11/13/14 USD 0.58
RELIANCE COMMUNICATION 6.50 11/06/20 USD 10.02
SHRIRAM TRANSPORT FINA 5.10 07/16/23 USD 75.01
SINTEX INDUSTRIES LTD 3.50 05/25/22 USD 48.56
SRI REJEKI ISMAN TBK P 7.25 01/16/25 USD 79.61
SURBHI INVESTMENTS & T 2.50 10/21/28 INR 64.48
SUZLON ENERGY LTD 5.75 07/16/19 USD 24.59
SUZLON ENERGY LTD 5.75 07/16/19 USD 24.59
SVOGL OIL GAS & ENERGY 5.00 08/17/15 USD 0.61
TN URJA PVT LTD 0.10 02/22/36 INR 30.39
VIDEOCON INDUSTRIES LT 2.80 12/31/20 USD 30.25
WATSUN INFRABUILD PVT 4.00 10/16/37 INR 57.42
WS T&D LTD 0.10 03/24/29 INR 48.22
ZYDUS FOUNDATION 0.10 03/25/25 INR 65.49
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 1.50 11/26/27 JPY 72.59
UNIZO HOLDINGS CO LTD 1.20 05/28/27 JPY 72.62
UNIZO HOLDINGS CO LTD 0.99 11/27/26 JPY 73.17
KOREA
-----
ECOMAISTER CO LTD 2.00 10/11/22 KRW 54.19
HEUNGKUK FIRE & MARINE 5.70 12/29/46 KRW 46.84
KIBO ABS SPECIALTY CO 5.00 02/28/22 KRW 70.28
KIBO ABS SPECIALTY CO 5.00 02/24/22 KRW 71.11
KIBO ABS SPECIALTY CO 5.00 08/28/21 KRW 71.87
KIBO ABS SPECIALTY CO 5.00 02/26/21 KRW 62.77
KIBO ABS SPECIALTY CO 5.00 09/11/20 KRW 74.10
LOTTE CARD CO LTD 0.54 06/28/49 KRW 41.60
PAPERCOREA INC 1.00 01/21/21 KRW 0.08
POSCO ENERGY CO LTD 5.21 08/29/43 KRW 63.06
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
SILLAJEN INC 1.00 03/21/24 KRW 54.17
SINBO SECURITIZATION S 5.00 07/24/23 KRW 68.84
SINBO SECURITIZATION S 5.00 06/27/23 KRW 68.98
SINBO SECURITIZATION S 5.00 03/20/23 KRW 70.50
SINBO SECURITIZATION S 5.00 02/28/23 KRW 70.64
SINBO SECURITIZATION S 5.00 01/25/23 KRW 67.93
SINBO SECURITIZATION S 5.00 09/28/22 KRW 72.60
SINBO SECURITIZATION S 5.00 08/31/22 KRW 68.02
SINBO SECURITIZATION S 5.00 07/26/22 KRW 66.96
SINBO SECURITIZATION S 5.00 07/24/22 KRW 66.97
SINBO SECURITIZATION S 5.00 06/29/22 KRW 72.50
SINBO SECURITIZATION S 5.00 06/27/22 KRW 67.02
SINBO SECURITIZATION S 5.00 02/28/22 KRW 70.28
SINBO SECURITIZATION S 5.00 02/23/22 KRW 66.68
SINBO SECURITIZATION S 5.00 01/26/22 KRW 65.79
SINBO SECURITIZATION S 5.00 01/25/22 KRW 65.80
SINBO SECURITIZATION S 5.00 12/27/21 KRW 70.97
SINBO SECURITIZATION S 5.00 09/27/21 KRW 74.64
SINBO SECURITIZATION S 5.00 08/31/21 KRW 65.75
SINBO SECURITIZATION S 5.00 08/25/21 KRW 74.89
SINBO SECURITIZATION S 5.00 07/26/21 KRW 64.50
SINBO SECURITIZATION S 5.00 06/29/21 KRW 72.07
SINBO SECURITIZATION S 5.00 03/21/21 KRW 62.11
SINBO SECURITIZATION S 5.00 12/21/20 KRW 62.94
SINBO SECURITIZATION S 5.00 06/23/20 KRW 74.57
MALAYSIA
--------
AEON CREDIT SERVICE M 3.50 09/15/20 MYR 0.79
ASIAN PAC HOLDINGS BHD 3.00 05/25/22 MYR 0.48
BERJAYA CORP BHD 2.00 05/29/26 MYR 0.16
BERJAYA CORP BHD 5.00 04/22/22 MYR 0.25
ELK-DESA RESOURCES BHD 3.25 04/14/22 MYR 0.82
HIAP TECK VENTURE BHD 5.00 06/23/21 MYR 0.16
HUME INDUSTRIES BHD 5.00 05/29/24 MYR 1.45
MALAYAN FLOUR MILLS BH 5.00 01/24/24 MYR 0.97
PMB TECHNOLOGY BHD 3.00 07/12/23 MYR 2.83
SENAI-DESARU EXPRESSWA 1.35 06/30/31 MYR 70.26
SENAI-DESARU EXPRESSWA 1.35 12/31/30 MYR 71.51
SENAI-DESARU EXPRESSWA 1.35 06/28/30 MYR 72.81
SENAI-DESARU EXPRESSWA 1.35 12/31/29 MYR 73.99
VIZIONE HOLDINGS BHD 3.00 08/08/21 MYR 0.02
NEW ZEALAND
-----------
PRECINCT PROPERTIES NE 4.80 09/27/21 NZD 1.04
SKY NETWORK TELEVISION 6.25 03/31/21 NZD 73.29
PHILIPPINES
-----------
BAYAN TELECOMMUNICATIO 15.00 07/15/06 USD 22.75
SINGAPORE
---------
ALAM SYNERGY PTE LTD 6.63 04/24/22 USD 44.92
APL REALTY HOLDINGS PT 5.95 06/02/24 USD 46.14
ASL MARINE HOLDINGS LT 3.00 10/01/26 SGD 51.38
ASL MARINE HOLDINGS LT 3.00 03/28/25 SGD 51.38
BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 0.82
BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 0.82
BERAU CAPITAL RESOURCE 12.50 07/08/15 USD 39.80
BERAU CAPITAL RESOURCE 12.50 07/08/15 USD 39.80
BLD INVESTMENTS PTE LT 8.63 03/23/15 USD 4.88
BLUE OCEAN RESOURCES P 8.00 12/31/21 USD 31.59
BLUE OCEAN RESOURCES P 8.00 12/31/21 USD 31.59
BLUE OCEAN RESOURCES P 8.00 12/31/21 USD 31.59
ENERCOAL RESOURCES PTE 9.25 08/05/14 USD 45.75
ETERNA CAPITAL PTE LTD 8.00 12/11/22 USD 32.06
EZION HOLDINGS LTD 0.25 11/20/27 SGD 67.22
EZRA HOLDINGS LTD 4.88 04/24/18 SGD 5.00
GEO COAL INTERNATIONAL 8.00 10/04/22 USD 61.94
GEO COAL INTERNATIONAL 8.00 10/04/22 USD 52.13
GOLDEN ENERGY & RESOUR 9.00 02/14/23 USD 74.27
GOLDEN LEGACY PTE LTD 6.88 03/27/24 USD 74.17
HYFLUX LTD 4.60 09/23/19 SGD 38.63
HYFLUX LTD 4.20 08/29/19 SGD 38.63
HYFLUX LTD 4.25 09/07/18 SGD 38.63
INDO INFRASTRUCTURE GR 2.00 07/30/10 USD 1.00
INNOVATE CAPITAL PTE L 6.00 12/11/24 USD 30.53
ITNL OFFSHORE PTE LTD 7.50 01/18/21 CNY 29.80
MEDCO BELL PTE LTD 6.38 01/30/27 USD 60.04
MEDCO BELL PTE LTD 6.38 01/30/27 USD 58.19
MEDCO OAK TREE PTE LTD 7.38 05/14/26 USD 61.70
MEDCO OAK TREE PTE LTD 7.38 05/14/26 USD 61.52
MEDCO PLATINUM ROAD PT 6.75 01/30/25 USD 63.34
MEDCO PLATINUM ROAD PT 6.75 01/30/25 USD 62.86
MICLYN EXPRESS OFFSHOR 8.75 11/25/18 USD 22.59
MODERNLAND OVERSEAS PT 6.95 04/13/24 USD 64.39
MULHACEN PTE LTD 6.50 08/01/23 EUR 38.42
MULHACEN PTE LTD 6.50 08/01/23 EUR 38.26
NT RIG HOLDCO PTE LTD 7.50 12/20/21 USD 59.87
ORO NEGRO DRILLING PTE 7.50 01/24/19 USD 14.69
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 67.89
SOECHI CAPITAL PTE LTD 8.38 01/31/23 USD 67.56
SSMS PLANTATION HOLDIN 7.75 01/23/23 USD 59.36
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 7.75 09/18/17 CNY 7.75
SWIBER HOLDINGS LTD 7.13 04/18/17 SGD 7.75
SWIBER HOLDINGS LTD 5.55 10/10/16 SGD 12.25
THETA CAPITAL PTE LTD 6.75 10/31/26 USD 69.02
SRI LANKA
---------
SRI LANKA DEVELOPMENT 6.75 01/22/25 USD 55.62
SRI LANKA DEVELOPMENT 6.50 01/22/25 USD 54.95
SRI LANKA DEVELOPMENT 6.02 01/22/25 USD 53.67
SRI LANKA DEVELOPMENT 5.98 01/22/25 USD 53.51
SRI LANKA DEVELOPMENT 5.28 01/22/25 USD 50.49
SRI LANKA DEVELOPMENT 6.70 05/01/23 USD 59.93
SRI LANKA DEVELOPMENT 5.66 05/01/23 USD 57.94
SRI LANKA DEVELOPMENT 4.64 05/01/23 USD 56.43
SRI LANKA DEVELOPMENT 4.60 05/01/23 USD 56.36
SRI LANKA DEVELOPMENT 6.62 03/16/23 USD 60.36
SRI LANKA DEVELOPMENT 4.73 03/16/23 USD 56.35
SRI LANKA DEVELOPMENT 5.94 01/22/23 USD 59.93
SRI LANKA DEVELOPMENT 4.76 01/22/23 USD 57.79
SRI LANKA DEVELOPMENT 6.07 01/22/23 USD 57.48
SRI LANKA DEVELOPMENT 6.60 05/01/22 USD 66.58
SRI LANKA DEVELOPMENT 6.30 05/01/22 USD 66.15
SRI LANKA DEVELOPMENT 5.75 05/01/22 USD 65.38
SRI LANKA DEVELOPMENT 5.55 05/01/22 USD 65.09
SRI LANKA DEVELOPMENT 5.52 05/01/22 USD 65.05
SRI LANKA DEVELOPMENT 4.22 05/01/22 USD 63.58
SRI LANKA DEVELOPMENT 4.19 05/01/22 USD 63.53
SRI LANKA DEVELOPMENT 4.83 03/17/22 USD 64.94
SRI LANKA DEVELOPMENT 4.83 03/17/22 USD 64.94
SRI LANKA DEVELOPMENT 4.83 03/17/22 USD 64.93
SRI LANKA DEVELOPMENT 5.79 01/22/22 USD 68.19
SRI LANKA DEVELOPMENT 4.49 01/22/22 USD 66.62
SRI LANKA DEVELOPMENT 4.59 01/22/22 USD 66.45
SRI LANKA DEVELOPMENT 6.11 08/15/21 USD 74.11
SRI LANKA DEVELOPMENT 5.93 08/15/21 USD 73.89
SRI LANKA DEVELOPMENT 4.67 08/15/21 USD 72.69
SRI LANKA DEVELOPMENT 5.87 07/30/21 USD 74.46
SRI LANKA DEVELOPMENT 5.75 07/30/21 USD 74.35
SRI LANKA DEVELOPMENT 4.04 07/30/21 USD 72.79
SRI LANKA DEVELOPMENT 3.91 07/30/21 USD 72.66
SRI LANKA DEVELOPMENT 4.59 06/30/21 USD 74.72
SRI LANKA DEVELOPMENT 4.15 06/30/21 USD 74.33
SRI LANKA GOVERNMENT I 7.55 03/28/30 USD 55.71
SRI LANKA GOVERNMENT I 7.55 03/28/30 USD 55.66
SRI LANKA GOVERNMENT I 7.85 03/14/29 USD 56.03
SRI LANKA GOVERNMENT I 7.85 03/14/29 USD 55.89
SRI LANKA GOVERNMENT I 6.75 04/18/28 USD 55.79
SRI LANKA GOVERNMENT I 6.75 04/18/28 USD 55.63
SRI LANKA GOVERNMENT I 6.20 05/11/27 USD 55.81
SRI LANKA GOVERNMENT I 6.20 05/11/27 USD 55.61
SRI LANKA GOVERNMENT I 6.83 07/18/26 USD 56.44
SRI LANKA GOVERNMENT I 6.83 07/18/26 USD 56.32
SRI LANKA GOVERNMENT I 6.85 11/03/25 USD 56.67
SRI LANKA GOVERNMENT I 6.85 11/03/25 USD 56.49
SRI LANKA GOVERNMENT I 6.13 06/03/25 USD 56.88
SRI LANKA GOVERNMENT I 6.13 06/03/25 USD 56.75
SRI LANKA GOVERNMENT I 6.35 06/28/24 USD 59.08
SRI LANKA GOVERNMENT I 6.35 06/28/24 USD 57.93
SRI LANKA GOVERNMENT I 6.85 03/14/24 USD 58.85
SRI LANKA GOVERNMENT I 6.85 03/14/24 USD 57.80
SRI LANKA GOVERNMENT I 5.75 04/18/23 USD 58.03
SRI LANKA GOVERNMENT I 5.75 04/18/23 USD 57.88
SRI LANKA GOVERNMENT I 5.88 07/25/22 USD 60.78
SRI LANKA GOVERNMENT I 5.88 07/25/22 USD 60.66
SRI LANKA GOVERNMENT I 5.75 01/18/22 USD 62.31
SRI LANKA GOVERNMENT I 5.75 01/18/22 USD 62.25
SRI LANKA GOVERNMENT I 6.25 07/27/21 USD 70.24
SRI LANKA GOVERNMENT I 6.25 07/27/21 USD 69.99
SRILANKAN AIRLINES LTD 7.00 06/25/24 USD 66.74
THAILAND
--------
G STEEL PCL 3.00 10/04/15 USD 0.55
MDX PCL 4.75 09/17/03 USD 22.88
*********
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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