/raid1/www/Hosts/bankrupt/TCRAP_Public/200721.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 21, 2020, Vol. 23, No. 145
Headlines
A U S T R A L I A
AFS INTERCULTURAL: First Creditors' Meeting Set for July 29
ISIGNTHIS LTD: Makes Disclosure Changes Following Expert Report
KATOOMBA RESIDENCE: Second Creditors' Meeting Set for July 28
MJ PROTECTIVE: Second Creditors' Meeting Set for July 27
MODULATE ENGINEERING: First Creditors' Meeting Set for July 29
STELLER CONTINENTAL: Second Creditors' Meeting Set for July 28
STELLER RESOURCES: Second Creditors' Meeting Set for July 24
TFM EPPING: Second Creditors' Meeting Set for July 28
VIRGIN AUSTRALIA: Bondholders Push to Meet Management and Unions
C H I N A
LUCKIN COFFEE: Appoints Liquidators, Financial Advisers
H O N G K O N G
GOLDIN FINANCIAL: Seeks to Raise Another Loan to Pay Piling Debts
I N D I A
AASHKA HOSPITALS: CRISIL Keeps D on INR33cr Debt in Not Cooperating
ARMAAX AUTO: CRISIL Keeps D Debt Ratings in Not Cooperating
AWADE INDUSTRIES: CRISIL Cuts Rating on INR17cr Debts to B+
AYUSH FOOD: CARE Lowers Rating on INR9.97cr LT Loan to D
BOMBAY CRIMPERS: CRISIL Keeps B+ Debt Ratings in Not Cooperating
CHOICE BOARDS: CRISIL Keeps B Debt Ratings in Not Cooperating
DATTA AGRO: CARE Keeps D Debt Ratings in Not Cooperating Category
DAVANGERE SUGAR: CARE Lowers Rating on INR99cr LT Loan to B
DEV RAJ INSTITUTE: CRISIL Keeps D on INR9cr Debt in NonCooperating
E.S. KNIT WEAR: CRISIL Keeps B+ Debt Ratings in Not Cooperating
EAST END: CRISIL Keeps B+ Debt Ratings in Not Cooperating
GEM GRANITES: CARE Keeps D on INR58.02cr Debt in Not Cooperating
GOURMET EMPIRE: CARE Lowers Rating on INR6.76cr LT Loan to D
J.M. INTERNATIONAL: Ind-Ra Affirms B Issuer Rating, Outlook Stable
JAI JALPESH: CARE Reaffirms B+ Rating on INR6.54cr LT Loan
JITENDRA UDHYOG: CARE Withdraws B-/A4 Bank Debt Ratings
KEHEMS TECHNOLOGIES: CRISIL Keeps B+ Rating in Not Cooperating
MAA PEETAMBRA: CARE Keeps D on INR13.67cr Debt in Not Cooperating
MAGPIE GLOBAL: Ind-Ra Assigns BB LT Issuer Rating, Outlook Stable
MONEYPLUS FINANCIAL: Ind-Ra Assigns BB Loan Rating, Outlook Stable
NORTHERN INDIA LEATHER: Ind-Ra Lowers LT Issuer Rating to 'D'
RADHA GOVIND: Ind-Ra Affirms B+ LT Issuer Rating, Outlook Stable
RAGHUVIR OIL: CARE Keeps D Debt Ratings in Not Cooperating
RANCHHOD OIL: CARE Keeps D Debt Ratings in Not Cooperating
SARVOTTAM ATTA: CARE Keeps D Debt Ratings in Not Cooperating
SARVOTTAM VEGETABLE: CARE Keeps D Debt Rating in Not Cooperating
SHRADDHA MOTORS: CRISIL Withdraws B Rating on INR10cr Cash Loan
SIDDHARTH AGRO: CARE Withdraws B-/A4 Ratings on Bank Debts
SPGV PETROCHEM: CARE Keeps D on INR24.80cr Debt in Not Cooperating
SPICEJET LIMITED: CRISIL Lowers Rating on INR550cr Loan to D
STERLING GATED: CARE Lowers Rating on INR60cr NCD to D
SUCHIRINDIA CONSTRUCTIONS: CRISIL Rates INR15cr LT Loan 'B+'
SWASTIK PANELS: CRISIL Lowers Ratings on INR6cr Loans to D
SWASTIK PLYBOARD: CRISIL Lowers Rating on INR3cr Loan to D
UDAY AUTOLINK: CARE Withdraws D Rating on Bank Debt
VISHWA (DWARKA-OKHA): CARE Cuts Rating on INR80cr Loan to D
N E W Z E A L A N D
CULLEN GROUP: Abandons Tax Appeal, Bendon Sale Queried
MICHAEL HILL: Flags More Store Closures Outside New Zealand
P H I L I P P I N E S
CROWD1 ASIA: SEC Permanently Shuts Investment Scheme
X X X X X X X X
BOND PRICING: For the Week July 13 to July 17, 2018
- - - - -
=================
A U S T R A L I A
=================
AFS INTERCULTURAL: First Creditors' Meeting Set for July 29
-----------------------------------------------------------
A first meeting of the creditors in the proceedings of AFS
Intercultural Programs Australia will be held on July 29, 2020, at
3:00 p.m. via webinar facilities.
Andrew Thomas Sallway and Duncan Edward Clubb of BDO were appointed
as administrators of AFS Intercultural on July 17, 2020.
ISIGNTHIS LTD: Makes Disclosure Changes Following Expert Report
---------------------------------------------------------------
Sarah Danckert at The Sydney Morning Herald reports that troubled
technology group iSignthis Ltd will make a series of changes to the
way it deals with company disclosures following a review by an
independent expert the company agreed to hire after concerns by the
market operator.
SMH relates that the full report by Clayton Utz remains under lock
and key after being delivered to the ASX on July 17 after the
market operator sent a series of questions about the report,
including its scope, to the group, which is suspended from
trading.
According to the report, ISignthis agreed to hire an independent
expert after a preliminary report by the ASX alleged significant
breaches by the group over its disclosure practices, particularly
in regards to how it reported its revenue and key contracts with
customers.
The company, which provides automated payment verification and
payment services to clients including trading sites and gaming
platforms, is at loggerheads with the ASX over the suspension of
its shares since October. ISignthis is suing the ASX in the Federal
Court, while the corporate watchdog is also reviewing the company's
disclosures.
SMH says ISignthis released the report's summary on July 20 but has
not released the full report for commercial and legal reasons. ASX
intends to release the report on the exchange when it is satisfied
it meets its standards.
In a letter to shareholders, iSignthis chief executive John
Karantzis said the independent expert had found no material non
compliance findings by the company, but added he accepted the
expert had found areas that needed improving, SMH relays.
"Where the independent expert has found that there have been
shortfalls, we will improve," the report quotes Mr. Karantzis as
saying.
SMH relates that the expert has recommended a raft of changes
including that iSignthis makes announcements when it signs up a
customer that will have a material impact on earnings and making
available shareholder meeting requisition requests.
The updated continuous disclosure rules also beef up iSignthis
board's oversight of the activities of its executives. This
includes requiring disclosure obligations extend to directors and
that a committee is set up including Mr. Karantzis, chairman Tim
Hart, and the company secretary to discuss matters of potential
disclosure.
The company will also be required to hand over presentation to the
disclosure officers (the board and senior executives) before they
are made public so that no sensitive material is inadvertently
leaked, SMH states.
Staff will also be re-trained and iSignthis will develop a "more
detailed" media relations policy that more closely aligns to the
practices of other companies".
iSignthis Ltd is a deposit taking financial institution or 'neo
bank' providing transactional banking services in the EU/EEA and
Australia. The Company is a principal member of Visa, Mastercard,
JCB, Diners, Discover & ChinaUnionpay. It has a patented process
for performing KYC remotely to allow it to onboard consumers to its
merchant's platforms as well as to issue its own bank accounts.
KATOOMBA RESIDENCE: Second Creditors' Meeting Set for July 28
-------------------------------------------------------------
A second meeting of creditors in the proceedings of Katoomba
Residence Investment Pty Ltd has been set for July 28, 2020, at
10:00 a.m. via electronic means.
The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.
Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by July 24, 2020, at 5:00 p.m.
John Melluish and Stephen John Michell of PCI Partners Pty Ltd were
appointed as administrators of Katoomba Residence on June 30,
2020.
MJ PROTECTIVE: Second Creditors' Meeting Set for July 27
--------------------------------------------------------
A second meeting of creditors in the proceedings of MJ Protective
Services Group Pty Ltd and MJ Protective Services Asia Pacific Pty
Ltd has been set for July 27, 2020, at 11:00 a.m. at the offices of
Jones Partners, Level 13, 189 Kent Street, in Sydney, NSW.
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 24, 2020, at 4:00 p.m.
Bruce Gleeson and Daniel Robert Soire of Jones Partners were
appointed as administrators of MJ Protective on June 22, 2020.
MODULATE ENGINEERING: First Creditors' Meeting Set for July 29
--------------------------------------------------------------
A first meeting of the creditors in the proceedings of Modulate
Engineering Pty Ltd will be held on July 29, 2020, at 10:30 a.m. at
Suite 101, 167B The Entrance Road, in Erina, NSW.
Amanda Lott and Timothy Heesh of TPH Insolvency were appointed as
administrators of Modulate Engineering on July 17, 2020.
STELLER CONTINENTAL: Second Creditors' Meeting Set for July 28
--------------------------------------------------------------
A second meeting of creditors in the proceedings of Steller
Continental Development Pty Ltd has been set for July 28, 2020, at
10:00 a.m. via 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 27, 2020, at 5:00 p.m.
Timothy James Brace, Michael Carrafa & Peter Gountzos of SV
Partners were appointed as administrators of Continental on Sept.
20, 2019.
STELLER RESOURCES: Second Creditors' Meeting Set for July 24
------------------------------------------------------------
A second meeting of creditors in the proceedings of Steller
Resources Pty Ltd has been set for July 24, 2020, at 10:00 a.m. via
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 23, 2020, at 5:00 p.m.
Timothy James Brace, Michael Carrafa & Peter Gountzos of SV
Partners were appointed as administrators of Steller Resources on
Sept. 20, 2019.
TFM EPPING: Second Creditors' Meeting Set for July 28
-----------------------------------------------------
A second meeting of creditors in the proceedings of TFM Epping Land
Pty Ltd has been set for July 28, 2020, at 11:00 a.m. via
electronic means.
The purpose of the meeting is (1) to receive the report by the
Administrator about the business, property, affairs and financial
circumstances of the Company; and (2) for the creditors of the
Company to resolve whether the Company will execute a deed of
company arrangement, the administration should end, or the Company
be wound up.
Creditors wishing to attend are advised proofs and proxies should
be submitted to the Administrator by July 24, 2020, at 5:00 p.m.
John Melluish and Stephen John Michell of PCI Partners Pty Ltd were
appointed as administrators of TFM Epping on June 30, 2020.
VIRGIN AUSTRALIA: Bondholders Push to Meet Management and Unions
----------------------------------------------------------------
Patrick Hatch at The Sydney Morning Herald reports that Virgin
Australia bondholders trying to derail the bankrupt airline's sale
to Bain Capital are pushing administrators Deloitte to let them
meet Virgin's management, unions and other creditors to help
finalise their rival relaunch proposal.
According to SMH, Singaporean hedge fund Broad Peak and Hong Kong
investor Tor on July 20 sent Deloitte a draft Deed of Company
Arrangement (DOCA) that would see them and other bondholders owed a
combined AUD2 billion take control of Virgin, a spokesman for the
bondholders said.
SMH relates that the bondholders expect creditors, owed AUD6.8
billion when Virgin collapsed in April, to consider their proposal,
as well as the deal struck between Deloitte and Bain, at a second
creditors meeting scheduled for August.
Broad Peak and Tor, which are owed AUD300 million, and others
bondholders fear they will receive less than 10 cents on the dollar
under the Bain deal, and propose swapping their debt for equity
while pouring AUD800 million in fresh cash into Virgin to
recapitalise the business.
"We have the funds and the ability to implement this proposal and
firmly believe that our proposal represents the best option for
Virgin Australia, its employees, creditors, stakeholders and the
Australian community," SMH quotes a spokesman for the bondholders
as saying.
"Engagement with Virgin management, unions, lessors and other
stakeholders is a priority for the bondholders, starting this
week".
The spokesman stressed the bondholders needed to meet with those
key stakeholders and access other information to finalise the DOCA
prior to the second creditors' meeting, SMH relays.
SMH relates that the bondholder group is pushing ahead with its
rival bid for Virgin despite Deloitte's joint administrator Vaughan
Strawbridge telling creditors in a letter sent on July 17 that the
sale agreement it signed with Bain on June 26 was a "binding
transaction" and "as such we are not able to accept any alternate
offer for sale".
According to SMH, Deloitte has previously said it discounted the
bondholders' proposal because it was conditional and did not have
evidence of funding. A spokesman for Deloitte on July 20 confirmed
it had received the proposed DOCA but would not comment further,
the report notes.
SMH says Federal Court Judge John Middleton put Deloitte on notice
to share information about the Virgin sale with bondholders to
avoid a legal battle earlier this month, after Broad Peak and Tor
launched unsuccessful legal action to access secret details of its
sale deal with Bain.
Deloitte and Bain are yet to reveal how much will be paid to
creditors and how many of Virgin's 9000 employees will keep their
jobs. Last week's letter to creditors said that information would
be included in a report to them, which will be released on August
19, ahead of the second creditors meeting, SMH relays.
SMH adds that the letter also defended Deloitte's "expedited" sale
to Bain, saying it was necessary because the airline needed an
immediate cash injection to continue trading past June 30. Bain put
AUD125 million in interim funding into Virgin to maintain its
liquidity.
Mr. Strawbridge said Deloitte will also receive a DOCA from Bain,
which if creditors vote in favor of will "provide a better return
to unsecured creditors than if the sale is completed through the
asset sale transaction".
About Virgin Australia
Brisbane, Queensland-based Virgin Australia is Australia's
second-largest airline. It commenced services in 2000 as Virgin
Blue, wholly owned by the Virgin Group.
As reported in the Troubled Company Reporter-Asia Pacific on April
22, 2020, Bloomberg News related that Virgin Australia Holdings
Ltd. became Asia's first airline to fall to the coronavirus after
the outbreak deprived the debt-burdened company of almost all
income. Administrators at Deloitte, who have taken control of the
Brisbane-based carrier, aim to restructure the business and find
new owners within months. More than 10 parties have expressed an
interest, Deloitte related on April 21.
Virgin Australia, which has furloughed 80% of its 10,000 workers,
will continue to operate some flights for essential workers,
freight and the repatriation of Australians, Bloomberg said. The
airline's frequent flyer program is a separate company and is not
in administration.
Richard John Hughes, John Greig, Vaughan Strawbridge and Sal Algeri
of Deloitte were appointed as administrators of Virgin Australia,
et al., on April 20, 2020.
The company owes AUD6.8 billion to lenders, bondholders, aircraft
lessors, trade creditors and employees.
On April 29, 2020, the company and certain affiliates filed
petitions pursuant to Chapter 15 of the Bankruptcy Code in the U.S.
Bankruptcy Court for the Southern District of New York.
As reported in the Troubled Company Reporter-Asia Pacific on June
29, 2020, The Sydney Morning Herald said Virgin Australia
administrator Deloitte said it has agreed to sell the bankrupt
airline to American private equity giant Bain Capital, after rival
bidder Cyrus Capital Partners withdrew its rescue offer due to a
"lack of engagement".
Joint administrator Vaughan Strawbridge said in a statement that
Bain had presented a "strong and compelling bid" for Virgin that
would "secure the future of Australia's second airline". However,
neither Deloitte nor Bain would reveal the size of the bid, how
many jobs will be lost or how much would be paid to creditors,
which are owed AUD6.8 billion, SMH said.
=========
C H I N A
=========
LUCKIN COFFEE: Appoints Liquidators, Financial Advisers
-------------------------------------------------------
South China Morning Post reports that Luckin Coffee has called in
liquidators to oversee a corporate restructuring and negotiate with
creditors to salvage its business, less than four months after
shocking the market with a US$300 million accounting fraud.
The Post relates that the start-up company named Alexander Lawson
-- alawson@alvarezandmarsal.com -- of Alvarez & Marsal Cayman
Islands and Tiffany Wong Wing Sze -- twong@alvarezandmarsal.com --
of Alvarez & Marsal Asia to act as "light-touch" joint provisional
liquidators (JPLs) under a Cayman Islands court order, it said in a
regulatory filing in New York. The move was in response to a
winding-up petition by an undisclosed creditor, it added.
The appointments will create a stable platform to allow the company
and its advisers to negotiate and restructure its financial
obligations, the Xiamen, Fujian-based coffee chain said in the
filing, the report relays. It hired Houlihan Lokey as financial
advisers to implement a workout with creditors, the Post
discloses.
According to the Post, Luckin's stock has lost about 90 per cent or
US$11 billion in market value since the scandal broke out in early
April, prompting regulators to take steps to delist the company
from the Nasdaq stock exchange barely 14 months after its debut.
Touted as China's Starbuck, Luckin Coffee's business model was
built on outselling its rivals by expanding its outlets at
breakneck speed and offering deep discounts to build followers.
With a large latte priced at CNY24, about 20 per cent cheaper than
what it costs at its Seattle-based rival, the chain quickly built
up a network that reached 3,680 stores by September 2019 versus
1,189 a year earlier, the Post relates.
If the numbers were to be believed, it sold 34.6 million cups of
freshly brewed coffee in the quarter to September 30, and counted
30.7 million of transacting customers.
The Post notes that the fraud has heightened scrutiny of Chinese
companies listed in American bourses, often making them favourite
targets of US-based short-sellers. It also stoked a broader spat
between regulators amid fragile US-China relations.
An independent committee probing the fraud has discovered that
several top executives fabricated CNY2.12 billion (US$300 million)
of sales in 2019, leading to the firing of chief executive Jenny
Qian Zhiya and chief operating officer Liu Jian in May, among
others, says the Post.
A boardroom fight erupted earlier this month, ending with the
company dropping co-founder Charles Lu Zhengyao as chairman on July
12, according to the Post. Lu, whose offshore family trust Haode
Investment controls 37.2 per cent of the voting power in Luckin
Coffee, is being chased by lenders led by Credit Suisse and Wall
Street banks seeking to recoup their loans.
Lu is said to have lost control of Haode after a court in the
British Virgin Islands granted on July 9 an application by banks to
wind up the investment vehicle and appointed KPMG to liquidate its
assets, the Wall Street Journal reported on July 14, the Post
relays.
According to the Post, Luckin Coffee said it will continue to
operate under the control of the board of directors with the
supervision of the liquidators. It held about US$780 million of
unrestricted cash and cash equivalents as of June 30, with most
them located in mainland China, it said in the SEC filing. The
amount has not been audited due to the scandal.
Much of the cash was generated from investors who bought into its
high-flying statistics. Its cash hoard was primarily fattened by
US$159 million of net proceed from the sale of preferred shares in
April 2019, and US$657 million from its IPO and stock placement a
month later, the Post states.
The coffee chain listed US$223 million in total liabilities on
September 30.
These numbers, however, remained unaudited, the report notes.
About Luckin Coffee
Based in China, Luckin Coffee Inc., provides non-alcoholic
beverages. The Company offers various types of coffee.
As reported in the Troubled Company Reporter-Asia Pacific on April
7, 2020, China Daily said that Luckin Coffee Inc, the so-called
rival to Starbucks in China, has exposed itself to the risks of
delisting and even bankruptcy due to severe fabrication of sales
data, experts said.
China Daily related that the coffee chain saw its share price crash
more than 75 percent to $6.40 on April 2 after the company
disclosed that its earnings results were substantially inflated. It
dropped nearly 15 percent more in the first two hours of trading on
April 3.
Liu Jian, chief operating officer and a director of the company,
and several employees reporting to him, had engaged in misconduct,
including fabricating transactions, a company statement said on
April 2.
The aggregate sales associated with fabricated transactions amount
to around CNY2.2 billion (US$310 million) during the April to
December period last year, according to Luckin's preliminary
internal investigation, the statement said.
=================
H O N G K O N G
=================
GOLDIN FINANCIAL: Seeks to Raise Another Loan to Pay Piling Debts
-----------------------------------------------------------------
South China Morning Post reports that Goldin Financial Holdings,
which staged a spectacular U-turn in 2018 from buying Hong Kong's
most expensive waterfront land, said it is actively looking for
capital to repay a growing pile of debt, as its stock lost nearly
70 per cent in value since October.
The company, controlled by billionaire Pan Sutong, said it has been
"in active discussions" with creditors since March to repay its
loans, and has come up with two solutions to refinance its debt,
according to the developer's filing to the Hong Kong stock
exchange, the Post relays.
The Post relates that the company, once one of the most aggressive
asset acquirers in Hong Kong, said it would raise a new loan of
HK$8.7 billion (US$1.12 billion), without elaborating. The company
sold a waterfront residential plot at the city's former airport
called Kai Tak Area 4B Site 4 for HK$7.04 billion in May, incurring
a net loss of HK$2.57 billion after fees and financing costs are
added.
"The proceeds from the disposal would be primarily used to reduce
the group's borrowings, thereby enhancing its financial flexibility
as a whole," Goldin said in a filing, the Post relays. Its stock
plunged by as much as 25.4 per cent on the Hong Kong exchange to a
record low of 94 HK cents, tumbling 70 per cent from HK$3.22 on
October 8.
According to the Post, the developer is owned by the 22nd-richest
man on Forbes' Hong Kong Rich List this year, with Pan's wealth
estimated at US$3.9 billion. The company had been on a shopping
spree for assets since 2016, when it paid HK$6.38 billion for a
residential plot in Ho Man Tin in March of that year, while bidding
for a HK$10 billion luxury home project at the subway station in
the same district.
Next on its acquisition list was land at Kai Tak, where Hong Kong's
old airport was located, with the former runway jutting into
Victoria Harbour with a 270-degree seafront view, the report says.
Luckin bought Kai Tak Area 4B Site 4 for HK$8.91 billion in
November 2018, and bought a commercial site there for HK$11.1
billion in May 2019.
The company's liabilities would soon catch up, forcing Goldin to
walk away from the commercial site Kai Tak 4C Site 4, forfeiting
HK$25 million in deposit within a month, according to the Post.
The company has total current liabilities of up to HK$11.9 billion
at the end of December 31, 2019, according to its interim report
issued in March, and over HK$8.8 billion are current
interest-bearing bank and other borrowings, which are usually due
within a year, the Post discloses.
As of the end of last year, the company held cash and cash
equivalents of HK$2.38 billion, falling far short of its
borrowings, the report adds.
According to the Post, Goldin Financial Holdings said that assets
secured for its subsidiary Smart Edge's senior notes in the
principal amount of HK$6.8 billion issued last year has been taken
over by receivers representing DB Trustees (Hong Kong), the
security trustee of the notes.
The assets taken over includes, all shares of Smart Edge, Goldin
Financial Global Centre, which is a 27-storey office tower in
Kowloon Bay and debts owed by Smart Edge, the report says.
Meanwhile, two other subsidiaries, Cheng Mei and Goal Eagle, failed
to pay HK$3.5 billion in loans, together with interest, the Post
reports citing a filing to the Hong Kong stock exchange.
"The board has been, and is still, confident of obtaining
refinancing of the Notes and the Loan within a short period of
time," Goldin said in the filing.
It also added that its office property, the Goldin Financial Global
Centre, is currently valued at up to HK$16.5 billion, representing
"a comfortable margin" over its debts, the Post relays.
Based in Hong Kong, Goldin Financial Holdings Ltd is a diversified
company. The Company's operations include Factoring, Wine
Production and Sales and Property Investment and Development.
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I N D I A
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AASHKA HOSPITALS: CRISIL Keeps D on INR33cr Debt in Not Cooperating
-------------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Aashka
Hospitals Limited (AHPL) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Term Loan 33.15 CRISIL D (ISSUER NOT
COOPERATING)
CRISIL has been consistently following up with AHPL for obtaining
information through letters and emails dated December 31, 2019 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 AHPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on AHPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of AHPL
continues to be 'CRISIL D Issuer Not Cooperating'.
AHPL, incorporated in 2012, is currently setting up a
multi-specialty hospital at Gandhinagar, Ahmedabad (Gujarat). The
hospital is scheduled to commence operations from May 2015. The
company is promoted by Mr. Bipin Shah, Dr Kaushik Gajjar, Dr Raj
Raval, and Dr Parag Thakkar, who are stakeholders in the hospital.
ARMAAX AUTO: CRISIL Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Armaax
Auto Private Limited (AAPL) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 3 CRISIL D (ISSUER NOT
COOPERATING)
Proposed Long 1.36 CRISIL D (ISSUER NOT
Term Bank Loan COOPERATING)
Facility
Term Loan 1.84 CRISIL D (ISSUER NOT
COOPERATING)
Working Capital 4.15 CRISIL D (ISSUER NOT
Demand Loan COOPERATING)
Working Capital 2.65 CRISIL D (ISSUER NOT
Term Loan COOPERATING)
CRISIL has been consistently following up with AAPL for obtaining
information through letters and emails dated December 31, 2019 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 AAPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on AAPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of AAPL
continues to be 'CRISIL D Issuer Not Cooperating'.
AAPL manufactures tractor components, primary for Mahindra and
Mahindra Ltd ('CRISIL AAA/Stable/CRISIL A1+'). The firm was
established in by Mr. R S Kamble in Mumbai.
AWADE INDUSTRIES: CRISIL Cuts Rating on INR17cr Debts to B+
-----------------------------------------------------------
CRISIL has revised the ratings on bank facilities of Awade
Industries Private Limited (AIPL) to 'CRISIL B+/Stable Issuer Not
Cooperating' from 'CRISIL BB/Stable Issuer Not Cooperating'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Proposed Term Loan 10 CRISIL B+/Stable (ISSUER NOT
COOPERATING; Revised from
'CRISIL BB/Stable ISSUER NOT
COOPERATING')
Proposed Working 7 CRISIL B+/Stable (ISSUER NOT
Capital Facility COOPERATING; Revised from
'CRISIL BB/Stable ISSUER NOT
COOPERATING')
CRISIL has been consistently following up with AIPL for obtaining
information through letters and emails dated December 31, 2019 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 AIPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on AIPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of AIPL
Revised to 'CRISIL B+/Stable Issuer Not Cooperating' from 'CRISIL
BB/Stable Issuer Not Cooperating'.
Incorporated in 1995 as a private limited company, AIPL
manufactures kraft paper from waste papers. The Kolhapur-based
company has been promoted by members of the Awade family.
AYUSH FOOD: CARE Lowers Rating on INR9.97cr LT Loan to D
--------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Ayush Food Products Private Limited (AFPPL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 9.97 CARE D Revised from CARE B+;
Facilities Stable; Issuer not cooperating;
In the absence of minimum information required for the purpose of
rating, CARE was unable to express an opinion on the rating of
AFPPL and in line with the extant SEBI guidelines, CARE revised the
rating of bank facilities of the company to 'CARE B+; Stable;
ISSUER NOT COOPERATING'. However, the company has now submitted the
requisite information to CARE. CARE has carried out a full review
of the rating and the rating stands at 'CARE D'.
Detailed Rationale & Key Rating Drivers
The revision in the rating assigned to the bank facilities of Ayush
Food Products Private Limited factors in delays in repayment of
debt obligation.
Key rating sensitivity
Positive factors
* Demonstration of a default free track record of over 90 days
Detailed description of the key rating drivers
Key Rating Weakness
* Delays in servicing of debt obligations: There have been delays
in the servicing of interest and principal repayment on term loan
availed by the company, the same was on account of poor liquidity
position.
Liquidity Position: Poor
Poor liquidity marked by lower accruals when compared to repayment
obligations and modest cash balance of INR0.79 crore as on March
31, 2020. This has constrained the ability of the firm to repay its
debt obligations on timely basis.
Ayush Food Product Private Limited (AFPPL) established in 2013 is
based in Pune, Maharashtra. The company is engaged in the business
of processing of pulses (chana dal and tur dal) with its processing
facility located at Phulgaon, Pune, with an installed capacity to
process 100 metric ton of dal per day. Currently the company
operates at 75% capacity utilization.
BOMBAY CRIMPERS: CRISIL Keeps B+ Debt Ratings in Not Cooperating
----------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Bombay
Crimpers Private Limited (BCPL) continues to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 2 CRISIL B+/Stable (ISSUER NOT
COOPERATING)
Long Term Loan 4.62 CRISIL B+/Stable (ISSUER NOT
COOPERATING)
Proposed Long Term 1.88 CRISIL B+/Stable (ISSUER NOT
Bank Loan Facility COOPERATING)
CRISIL has been consistently following up with BCPL for obtaining
information through letters and emails dated December 31, 2019 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 BCPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on BCPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of BCPL
continues to be 'CRISIL B+/Stable Issuer Not Cooperating'.
BCPL, incorporated in 1967, is promoted by Mr. Vinod Khetarpal and
his son Mr. Abhirup Khetarpal. The company processes polyester and
polyester cotton fabric on jobwork basis. Its facility is at
Bhiwandi in Maharashtra, and has capacity of 0.16 million metre per
day. BCPL is setting up a plant with capacity 0.1 million metre per
day.
CHOICE BOARDS: CRISIL Keeps B Debt Ratings in Not Cooperating
-------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Choice
Boards Private Limited (CBPL) continues to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 6 CRISIL B/Stable (ISSUER NOT
COOPERATING)
Proposed Long Term 1 CRISIL B/Stable (ISSUER NOT
Bank Loan Facility COOPERATING)
CRISIL has been consistently following up with CBPL for obtaining
information through letters and emails dated December 31, 2019 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 CBPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on CBPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of CBPL
continues to be 'CRISIL B/Stable/CRISIL A4 Issuer not
cooperating'.
CBPL was promoted in 1997 by Ms Buji Devi Agarwal and her family
members. It trades in various products such as billets, mild-steel
plates, TMT bars, and timber logs.
DATTA AGRO: CARE Keeps D Debt Ratings in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Datta Agro
Services Private Limited (DASPL) continues to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 30.09 CARE D; Issuer not cooperating;
Facilities Based on best available
Information
Short-term Bank 25.00 CARE D; Issuer not cooperating;
Facilities Based on best available
Information
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated July 9, 2019, placed the
ratings of DASPL under the 'Issuer non-cooperating' category as
DASPL had not provided the requisite information for monitoring the
ratings. DASPL continues to be non-cooperative despite requests for
submission of information through e-mails, phone calls and a
letter/e-mail dated June 16, 2020. In line with the extant SEBI
guidelines, CARE has reviewed the rating on the basis of the best
available information which however, in CARE's opinion is not
sufficient to arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Detailed description of the key rating drivers
At the time of last rating on July 9, 2019, the following were the
rating strengths and weaknesses (updated based on the best
available information).
Key Rating Weaknesses
* Ongoing delays in servicing of debt obligations: There are
ongoing delays in servicing of DASPL's debt obligations due to its
stressed liquidity.
Incorporated in June 2007, DASPL is engaged in manufacturing of
Single Super Phosphate (SSP) fertilizer from its sole manufacturing
facility located at Jalgaon with an installed capacity of 1.32 lakh
Metric Tons Per Annum (MTPA). DASPL markets its product under the
brand name "Satpuda" in the states of Madhya Pradesh and
Maharashtra.
DAVANGERE SUGAR: CARE Lowers Rating on INR99cr LT Loan to B
-----------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Davangere Sugar Company Limited (DSCL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long term bank (12.23) CARE B; Stable Revised from
facilities–Term CARE D; ISSUER NOT COOPERATING
Loan
Long Term Bank 99.00 CARE B; Stable Revised from
Facilities CARE C; Stable ISSUER NOT
(Fund Based) COOPERATING
Short Term Bank 13.22 CARE A4 Revised from CARE A4;
Facilities ISSUER NOT COOPERATING
(Non Fund Based)
Detailed Rationale & Key Rating Drivers
CARE had earlier placed the ratings of DSCL in issuer not
cooperating category as it had not paid the surveillance fees for
the rating exercise as agreed to in its Rating Agreement. Company
has now paid the requisite fees and rating is therefore removed
from Issuer Not Cooperating.
The revision in the rating of DSCL is on account of the delay free
track record in term loan repayments for more than 3 months, though
there are ocassional overdrawals in the working capital limits. As
per term loan statement submitted by the bank, there are no delays
in debt servicing for 3 consecutive months. CARE takes into account
the long track record and experience of the promoters, sales growth
in FY20, improved capital structure and significant fall in
inventory levels leading to improved working capital cycle. These
strengths are however partially offset by the lower profitability
margins in FY20, the inherent cyclical and regulated nature of the
industry.
Rating Sensitivities
Positive Factors: Factors that could lead to positive rating
action/upgrade
* Improvement in profitability and reduction in TDGCA on
sustained basis.
* Improvement in liquidity position.
Negative Factors: Factors that could lead to negative rating
action/downgrade
* Further stretching of WC cycle impacting liquidity
* Any large debt funded capex
Detailed description of the key rating drivers
Key Rating Weaknesses
* Profitability margins affected by lower crushing days due to
delay in start of SS19-20: During SS19-20, the heavy rainfall in
Karnataka during the months of September and October 2019 had led
to delay in the start of crushing season and as a result, the
crushing days reduced to 117 days (SS18-19: 146 days). The recovery
rate fell to 9% from the previous season's 9.5%. During FY20,
despite lower sugar production, the company sold 47,542 MT of sugar
(FY19: 28,760) offloading considerable amount of inventory. As on
March 31, 2020 the company's finished goods inventory of sugar was
worth INR36.08 Cr against INR91.16 Cr as on March 31, 2019. As on
March 31, 2020, the company had cleared all the cane arrears. The
PBILDT margin fell from 27.65% to 14.71% and PAT margin from 2.83%
to 0.52% due to lower crushing days. The lower crushing days in
SS19-20 had affected the power production of the co-gen plant due
to reduced supply of the raw material, bagasse. The production
almost halved in FY20 vis-Ă -vis FY19.
* Cyclical and regulated nature of the industry: Cyclical nature
of the sugar industry significantly impacts the operating
performance and cash flow generation of the sugar companies. The
raw material prices are regulated by the government. In addition to
this, sale and distribution of by-products (molasses and power) are
also regulated at different levels in different States. Integrated
players are in a better position to counter cyclicality of the
sugar business.
* Significant inventory levels maintained by the company in past
though reduced during FY20: The sugar industry is characterized by
high levels of inventory holding (due to seasonality associated
with sugarcane), coupled with low credit on sugarcane purchase,
makes the operations of the company working capital intensive.
During FY18 & 19, operating cycle of the company stood high at 404
days and 403 days respectively on account of holding inventory in
expectation to realize at higher prices and high short term
advances given for farmers and harvesting gangs. During Fy20, the
company offloaded a huge amount of finished inventory at higher
realization compared to FY19. The inventory days fell from 370 days
in FY19 to 155 days in FY20. In addition to this, as on
March 31, 2020 the company has cleared all the cane arrears with
the farmers and thus creditor period fell by 11 days from 19 days
to 8 days. All this led to a contraction of working capital cycle
from 403 days to 200 days.
Key Rating Strengths
* Delay free track record of 3 months: The company had earlier
delayed the servicing of debt obligations pertaining to two term
loans during the month of December 2019. However, the company
started making advance payments of debt obligations pertaining to
the term loans since Feb 2020. The company has also been regularly
submitting No Default Statement. Bank has confirmed the servicing
of interest and installment is regular. As far as working capital
facilities are concerned, there are overdrawals for not more than
30 days.
* Long track record and experienced promoters: DSCL has more than
four decades of track record in the present line of business. DSCL
enjoys established relationship with farmers having operated in the
same region over the decades. The day to day operations of the
company are looked after by Mr. S S Ganesh (MD), who is adequately
supported by a group of professionals having rich business
experience in the operative industry. The company is also supported
by the CFO Mr. Onkarappa who has three decades of experience.
* Growth in sales in FY20 and improvement in capital structure:
During FY20, the company's sales improved on the back of higher
realization and higher sales volume when compared to FY19. However,
the margins were affected due to the late start of the season and
lower recovery rate in FY20. The debt to equity ratio of the
company improved from 0.4x as on march 31, 2019 to 0.34x as on
March 31, 2020 as the term loans were repaid. The overall gearing
of the company reduced from 2.43x the previous year to 2.14x as on
Mar'20 due to term loan repayment and accruals in FY19 and FY20.
The directors have brought unsecured loans to the extent of INR22
crores to meet the company's working capital operations. During
FY21, the company is planning to replace around INR40 Cr worth WC
borrowing by Working Capital Term Loan, to be paid over a period of
7 years.
Liquidity: Stretched
The company's average fund utilisation for the 12 month period
ended April 2020 was 96%. As on March 31, 2020, the company had
current ratio of 0.94x (PY: 0.92x) and cash and bank balance of
INR5.83 Cr.
Davangere Sugar Company Limited was incorporated in 1970 as a joint
sector undertaking between Karnataka Agro Industries Corporation
(KIAC), Karnataka State Industrial Investment and Development
Corporation (KSIIDC) and Farmers. DSCL commenced commercial
operations in October 1974. However, owing to continuous losses
from operation, it was declared a sick unit in FY87. Subsequently,
with the debt restructuring and support from financial
institutions, DSCL came out of Board of Industrial and Financial
Reconstruction in 1996. The present promoters acquired the shares
owned by KIAC and KSIIDC and took over the management of DSCL in
1995. Shri. S S Ganesh, MD, takes care of the day to day
functioning of the company. As on March 31, 2019, the promoters
hold 59.54% stake in DSCL. The company has an installed sugar
crushing capacity of 4750 TCD and a multi fuel co-generation unit
of 24.5MW.
DEV RAJ INSTITUTE: CRISIL Keeps D on INR9cr Debt in NonCooperating
------------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Dev Raj
Institute of Management and Technology Society (DRIMT) continues to
remain in the 'Issuer Not Cooperating' category.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Term Loan 9.75 CRISIL D (ISSUER NOT
COOPERATING)
CRISIL has been consistently following up with DRIMT for obtaining
information through letters and emails dated December 31, 2019 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 DRIMT, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on DRIMT is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of DRIMT
continues to be 'CRISIL D Issuer Not Cooperating'.
DRIMT was set up in 2010 by promoter and chairman, Mr. Danish Gupta
and his family, based in Ferozepur (Punjab). The society offers
academic programmes through its institute, Dev Raj Group's
Technical Campus. DRIMT is affiliated with the Punjab Technical
University (PTU), Jalandhar, and approved by All India Council for
Technical Education (AICTE), Ministry of Human Resource
Development.
E.S. KNIT WEAR: CRISIL Keeps B+ Debt Ratings in Not Cooperating
---------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of E.S. Knit
Wear (ESK) continues to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Foreign Bill 1.25 CRISIL B+/Stable (ISSUER NOT
Discounting COOPERATING)
Packing Credit 3.25 CRISIL A4 (ISSUER NOT
COOPERATING)
Term Loan 0.40 CRISIL B+/Stable (ISSUER NOT
COOPERATING)
Working Capital 1.10 CRISIL B+/Stable (ISSUER NOT
Facility COOPERATING)
CRISIL has been consistently following up with ESK for obtaining
information through letters and emails dated December 31, 2019 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 ESK, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on ESK is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of ESK
continues to be 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.
ESK was set up in 1985 as a proprietorship firm by Mr. Easwaran.
The firm is engaged in manufacturing of readymade garments.
EAST END: CRISIL Keeps B+ Debt Ratings in Not Cooperating
---------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of East End
Technologies Private Limited (EPPPL) continues to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Bank Guarantee 4.5 CRISIL A4 (ISSUER NOT
COOPERATING)
Cash Credit 2 CRISIL B+/Stable (ISSUER NOT
COOPERATING)
Proposed Fund- 7 CRISIL B+/Stable (ISSUER NOT
Based Bank Limits COOPERATING)
Standby Fund- 0.5 CRISIL B+/Stable (ISSUER NOT
Based Limits COOPERATING)
CRISIL has been consistently following up with EPPPL for obtaining
information through letters and emails dated December 31, 2019 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 EPPPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on EPPPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of EPPPL
continues to be 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.
EPPPL was set up at Kolkata in 2011, by the promoters, Mr. Anirudha
Khemka and Mr. Abhinav Agarwal. The company manufactures printed
corrugated and non-corrugated boxes. Commercial operations began
from July 2014.
GEM GRANITES: CARE Keeps D on INR58.02cr Debt in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Gem
Granites (GG) continues to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 58.02 CARE D; Issuer not cooperating;
Facilities Based on best available
Information
Short-term Bank 77.16 CARE D; Issuer not cooperating;
Facilities Based on best available
Information
Long-term/Short- 19.33 CARE D; Issuer not cooperating;
Term Bank Based on best available
Facilities Information
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated March 22, 2018, placed the
rating of GG under the 'issuer non-cooperating' category as GG had
failed to provide information for monitoring of the rating.
Further, vide press release dated May 9, 2019 CARE has continued
the ratings in issuer non-cooperation category.
GG continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and an email
dated June 9, 2020. In line with the extant SEBI guidelines, CARE
has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
The ratings take into account the on-going delays in debt servicing
by the company.
Detailed description of the key rating drivers
At the time of last rating on May 9, 2019, the following were the
rating weaknesses:
Key Rating Weaknesses
* On-going delays in debt servicing: CARE as a part of its due
diligence exercise interacts with various stakeholders of the
company including lenders to the company and as a part of its
exercise ascertained that there are delays in debt servicing.
GG is a partnership firm established in the year 1972 by Mr.
Veeramani to carry on the business of mining/quarrying and
processing of various varieties of granites. The firm has two
quarrying units one in Ilkal, Karnataka and other in Dharmapuri
district. It also has a granite processing unit in Injambakkam,
Chennai.
GOURMET EMPIRE: CARE Lowers Rating on INR6.76cr LT Loan to D
------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Gourmet Empire Private Limited (GEPL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 6.76 CARE D; Issuer not cooperating;
Facilities Revised from CARE B; Issuer not
Cooperating; Based on best
available information
The revision in the rating assigned to the bank facilities of GEPL
takes into account ongoing delays in the servicing of debt
obligation.
Detailed description of the key rating drivers
Key Rating Weaknesses
* Ongoing delays in debt servicing: There have been ongoing delays
in the servicing of debt obligation. Furthermore, the account has
been classified as NPA.
Gourmet Empire Private Limited (GEPL) was incorporated in August
2013 and currently being managed by Mrs Manjeet Kaur, Mrs Harvinder
Kaur and Mr. Surinder Singh. The company started its business
operations in August 2013 and FY15 (refers to the period April 1 to
March 31) was the first full year of operations. GEPL is currently
running two restaurants under the name of 'Garlic and Green' in
Chandigarh and nearby area as well as two coffee kiosks in
Ludhiana. The company is also engaged in manufacturing of various
bakery products such as breads, pastries and cakes at its
manufacturing unit located in Mohali. The company sells its bakery
products under the brand name "South Ampton Bakes" to wholesalers
such as Walmart India, Metro-Zirakpur and West Side in Chandigarh,
Punjab and Haryana. Besides GEPL, the group consists of 'Amitoj
Textiles Private Limited' and 'Surinder Cloth House' which are
engaged in trading of readymade garments in Ludhiana, Punjab.
J.M. INTERNATIONAL: Ind-Ra Affirms B Issuer Rating, Outlook Stable
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed J.M.
International's (JMI) Long-Term Issuer Rating at 'IND B'. The
Outlook is Stable.
The instrument-wise rating action is:
-- INR250 mil. Fund-based working capital limit affirmed with
IND B/Stable/IND A4 rating.
KEY RATING DRIVERS
The affirmation reflects JMI's continued small scale of operations
as indicated by revenue of INR331.56 million in FY20 (FY19:
INR345.43 million). The decline in revenue was attributed to
adverse market conditions resulting from a decline in the prices of
commodity coupled with the COVID-19-led lockdown. FY20 financials
are provisional.
JMI's EBITDA margin remained modest at 1.65% in FY20 (FY19: 2.62%)
with the return on capital employed of 6% (3%). The decline in
margin was primarily due to volatility in the prices of spices in
the international market.
The ratings continue to factor in JMI's modest credit metrics. Its
interest coverage (operating EBITDA/gross interest expense)
improved marginally to 1.69x in FY20 (FY19: 1.31x) due to a
decrease in interest expenses. However, its net financial leverage
(total adjusted net debt/operating EBITDAR) deteriorated to 36.82x
in FY20 (FY19: 10.13x) driven by an increase in debt to support the
company's increased working capital requirement. Ind-Ra expects the
company's FY21 credit profile to remain in line with FY20.
Liquidity Indicator - Stretched: The company's cash flow from
operations turned negative to INR108.52million in FY20 from
positive INR4.55 million, owing to unfavorable changes in the
working capital. The working capital cycle elongated to 190 days in
FY20 (FY19: 110 days), mainly on account of an increase in the
inventory holding period to 165 days (90 days) as JMI imported raw
material in bulk. Its cash and cash equivalent stood at INR0.10
million at FYE20 (FYE19: INR0.32 million). However, JMI's
utilization of the fund-based limits was low at 9% during the 12
months ended June 2020. JMI has availed the Reserve Bank of
India-prescribed moratorium on the payment of interest for its cash
credit facility.
However, the ratings continue to be supported by the promoter's
experience of over three decades in the spice industry, leading to
established relationships with its customers and suppliers.
RATING SENSITIVITIES
Negative: Any substantial decline in the scale of operations,
leading to any deterioration in the credit metrics, will be
negative for the ratings.
Positive: Any improvement in the scale of operations, along with
the interest coverage increasing above 1.7x on a sustained basis,
will be positive for the ratings.
COMPANY PROFILE
Delhi-based JMI is a proprietary concern engaged in the trading of
Indian and imported spices, especially cloves in the domestic
market.
JAI JALPESH: CARE Reaffirms B+ Rating on INR6.54cr LT Loan
----------------------------------------------------------
CARE Ratings reaffirmed ratings on certain bank facilities of Jai
Jalpesh Flour Mills Private Limited (JJFMPL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank
Facilities 6.54 CARE B+; Stable Reaffirmed
Short-term Bank
Facilities 0.50 CARE A4; Reaffirmed
Detailed Rationale & Key Rating Drivers
The ratings assigned to the bank facilities of JJFMPL are continue
to remain constrain by its short track record with small scale of
operations with low profitability margins, volatile agro-commodity
(flour) prices with linkages to vagaries of the monsoon and
regulated nature of the industry, high working capital intensity
and exposure to vagaries of nature, leveraged capital structure and
debt coverage indicators and intensely competitive nature of the
industry with presence of many unorganized players. However, the
ratings continue to drive strength from experienced promoters,
satisfactory demand outlook of the products and close proximity to
raw material sources.
Key Rating Sensitivities:
Positive Factors:
* Increase in scale of operation (Turnover beyond INR50 crore)
while sustaining its current operating margin on a sustained
basis.
* Improvement in capital structure (overall gearing below 1.00x)
and its reduced reliance on external borrowings to fund its working
capital requirement on a sustained basis.
Negative Factors:
* Any sizable decline in scale of operation (turnover beyond INR20
crore) on a sustained basis.
* Deterioration in capital structure from current level and its
increased reliance on external borrowing to fund its working
capital requirement on a sustained basis.
Detailed Rationale & Key Rating Drivers
Key Rating Weaknesses
* Short track record with small scale of operations with low
profitability margins: JJFPL was incorporated in the year 2012,
however the company has started commercial operation from September
2016 only and accordingly has short track record of operations.
Furthermore, JJFPL is a relatively small player in flour milling
industry with total operating income of INR21.83 crore (FY18:
INR40.31 crore) and a cash accruals of INR1.07 crore (FY: INR0.33
crore) in FY19. The company has reported net loss of INR0.07 crore
in FY19 as against net loss of INR0.82 crore in FY18 mainly due
high capital charges owing to initial year of operations. Further,
the tangible networth base and total capital employed was low at
INR1.90 crore and INR10.03 crore, respectively, as on March 31,
2019. The small size restricts the financial flexibility of the
company in times of stress and it suffers on account of economies
of scale. The profitability margins of the company remained low
marked by PBILDT margin of 9.47% (FY18: 3.50%) and net loss margin
of 0.34% in FY19. Moreover, the company has achieved turnover of
INR25.84 crore with a PBT of INR0.06 crore during FY20,
provisional. There was no
restriction on the operation of the company as it is dealing with
essential commodities for general consumption; however, the company
is not able to operate due to labour issue. Moreover, the company
has resumed some of the activities but the processing of the
products is still not started and accordingly the company has not
booked any revenue during the current financial year till June 26,
2020.
* Volatile agro-commodity (flour) prices with linkages to vagaries
of the monsoon and regulated nature of the industry: JJFPL is
primarily engaged in the processing of wheat products under its
roller mills. Wheat being an agricultural produce and staple food,
its price is subject to intervention by the government. In the
past, the prices of wheat have remained volatile mainly on account
of the government policies in respect of Minimum Support Price
(MSP) & controls on its exports. The MSP of wheat for 2020-21 is
INR1925/quintal increased from INR1840/quintal in 2019-20. Further
to be noted, the prices of wheat are also sensitive to seasonality,
which is highly dependent on monsoon. Any volatility in the wheat
prices will have an adverse impact on the performance of the flour
mill.
* High working capital intensity and exposure to vagaries of
nature: Wheat is primarily a Rabi crop in India i.e. its
cultivation takes place in winter and the same is traded/ procured
by flour millers throughout the year. Hence, the millers are
required to carry high levels of raw material inventory in order to
mitigate the raw material availability risk, resulting in
relatively high inventory period. Further, wheat is mainly sourced
on cash payment. Accordingly, the working capital intensity remains
high leading to higher stress on the financial risk profile of the
flour milling units. Moreover, the average utilization of working
capital limits was around 95% during last 12 months ended May 31,
2020.
* Leveraged capital structure and moderate debt coverage
indicators: The capital structure of the company remained leveraged
marked by debt equity ratio and overall gearing ratio of 2.49x and
4.28x, respectively, as on March 31, 2019. However, the capital
structure has improved as on March 31, 2019 on account of scheduled
repayment of term loans. The debt coverage indicators of the
company remained moderate marked by interest coverage ratio at
2.08x (FY17:1.31x) and total debt to GCA ratio of 7.60x
(FY18:24.56x) during FY19. Moreover, interest coverage ratio has
improved on account of low interest expenses during FY19. Further,
the total debt to GCA also improved on account of higher generation
of gross cash accruals during the year.
* Intensely competitive nature of the industry with presence of
many unorganized players: Flour milling industry is highly
fragmented and competitive due to presence of many players
operating in this sector owing to its low entry barriers, due to
low capital and technological requirements. West Bengal and nearby
states are a major wheat growing area with many flour mills
operating in the area. High competition restricts the pricing
flexibility of the industry participants and has a negative bearing
on the profitability.
Key Rating Strengths
* Experienced promoters: Mr. Rajkumar Sharma, Mr. Anuj Sharma, Mrs.
Champa Ghosh, Mr. Kanan Ghosh, have long experience in food grains
business through their family business. They look after the day to
day operations of the company. Satisfactory demand outlook of the
products: Wheat based products; viz. Maida, Atta, Suji, Rawa, Bran
etc. have large consumption across the country in the form of
bakery products, cakes, biscuits and different types of food dishes
in homes and restaurants. The demand has been driven by the rapidly
changing food habits of the average Indian consumer, dictated by
the lifestyle changes in the urban and semi-urban regions of the
country.
* Close proximity to raw material sources: JJFPL's unit has close
proximity to local grain markets and major raw material procurement
destinations. Further, West Bengal and nearby states are one of the
major wheat producing area in India. Accordingly, JJFPL has
locational advantage in terms of proximity to raw material. This
apart, the plant is located in the vicinity of industrial area of
West Bengal, having good transportation facilities and other
requirements like good supply of power, water etc.
Liquidity: Stretched
Liquidity is marked by tightly matched accruals to repayment
obligations, highly utilized working capital bank limits of 98% and
modest cash balance of INR0.36 crore as on March 31, 2019.
Moreover, the company has not availed moratorium on loans from its
lender that could be availed under the terms of recent RBI
circular.
Jai Jalpesh Flour Mills Private Limited (JJFPL) was incorporated in
the year 2012 was promoted by the Ghosh and Sharma family based out
of West Bengal. Since its inception, the company has been engaged
in milling of flour products like maida (refined all-purpose
flour), Atta (whole wheat flour), Suji (semolina), bran, Rawa from
wheat. Currently, the company has a wheat grinding capacity of 70
Quintal per hour. The manufacturing facility is located at
Jalpaiguri district in the state of West Bengal.
JITENDRA UDHYOG: CARE Withdraws B-/A4 Bank Debt Ratings
-------------------------------------------------------
CARE has revised the rating assigned to the bank facilities of
Jitendra Udhyog (JU) to 'CARE B-;Stable/CARE A4; Issuer not
cooperating' from CARE B; Stable/CARE A4; Issuer Not Cooperating
and has simultaneously withdrawn it, with immediate effect. The
revision in the rating of Jitendra Udhyog is on account of
non-availability of requisite information. The ratings are
constrained on account of its modest scale of operations with its
constitution as a proprietorship concern, thin profitability and
leveraged capital structure. The ratings are further constrained on
account of its presence in highly fragmented and competitive
industry along with seasonal nature of the operations and
vulnerability of margins to price fluctuations with agro
commodities industry.
The ratings, however, favorably take into account experienced
management in the trading and processing of agro commodity business
and strategic location of manufacturing units with close proximity
to raw material sources.
The rating withdrawal is at the request of JU and 'No Objection
Certificate' received from the bank that has extended the
facilities rated by CARE.
Key Rating Weaknesses
* Modest scale of operations and constitution as a proprietorship
concern: Total Operating Income (TOI) of the firm grew at a
Compounded Annual Growth Rate (CAGR) of 13.72% in FY14-FY16 (refers
to the period April 1 to March 31) owing to higher demand and
increase in sales realization. Despite continuous growth, the scale
of operations of the firm stood modest. Furthermore, its
constitution as a proprietorship concern with low net worth base
restricts its overall financial flexibility in terms of limited
access to external funds for any future expansion plans. Further,
there is inherent risk of possibility of withdrawal of capital and
dissolution of the firm in case of death/insolvency of proprietor.
* Thin profitability and leveraged capital structure: The
profitability of the firm stood thin due to low value addition and
its presence in the highly fragmented and competitive industry.
During FY16, PBILDT margin of JU declined due to higher purchase
cost of raw material which it could not be able to pass on to its
customers owing to its presence in a highly fragmented and
competitive industry. The capital structure of the firm stood
highly leveraged on account of withdrawal of capital by the
proprietor. Further, the debt coverage indicators stood weak with
low interest coverage ratio and weak total debt to GCA at 19.83
times as on March 31, 2016 due to decline in GCA level coupled with
increment in unsecured loans worth INR1.39 crore in FY16.
* Presence in highly competitive and fragmented agro-processing
industry exposed to commodity price fluctuation risk: The
competitive nature of agro-product processing industry due to low
entry barriers, high fragmentation and the presence of a large
number of players in the organized and unorganized sector translate
in inherent thin profitability margins. Further being an
agricultural commodity with low value addition, the pricing and
distribution of pulses are exposed to climatic and
agriculture-related risks as well as government policies.
Key Rating Strengths
* Experienced proprietor and management in trading and processing
of agro commodity business: Overall operations of JU are managed by
Mr. Jitendra Kumar Jain, aged 49 years, who has around two decades
of experience in the trading of agro commodities. Mr. Jitendra
Kumar Jain gets assistance from Mr. Raj Kumar who has around 10
years of experience in the business. With the long-standing
presence of the proprietor and relatives in the industry, the firm
has established relationship with customers as well as suppliers.
* Strategic location of manufacturing units with close proximity to
raw material sources: JU's manufacturing facility is located at
Indore, Madhya Pradesh strategically located in one of the largest
pulses producing regions of India which makes it easier for the
company to access its primary raw material. According to Indian
Pulses and Grains Association, Madhya Pradesh is the highest pulses
producing state in India with 25% of production during 2013. Due to
the proximity to raw material producing region, it has access to
raw materials throughout the year with low transportation cost
which makes it possible for timely meet out the customers demand.
Indore (Madhya Pradesh) based Jitendra Udhyog (JU) was formed by
Mr. Jitendra Kumar Jain in the year 2002 as a proprietorship
concern. JU is engaged in the business of processing and trading of
agriculture commodities such as masoor dal, masoor bhoosi and
bardana. Processing unit of the firm is located at Indore, Madhya
Pradesh with total installed capacity of 5000 Metric Tonnes per
Annum (MTPA) as on March 31, 2016. JU purchases its products
through brokers from Canada, South Africa, Tanzania, and Australia
in addition to traders in the local market. It sells its products
under the brand name of "White Rose", "Rolex", "Joker" and "Lal
Gulab".
KEHEMS TECHNOLOGIES: CRISIL Keeps B+ Rating in Not Cooperating
--------------------------------------------------------------
CRISIL Ratings said the rating for the bank facilities of Kehems
Technologies Private Limited (CESIPL) continues to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Bank Guarantee 1.5 CRISIL A4 (ISSUER NOT
COOPERATING)
Cash Credit 8 CRISIL B+/Stable (ISSUER NOT
COOPERATING)
CRISIL has been consistently following up with CESIPL for obtaining
information through letters and emails dated December 31, 2019 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 CESIPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes that rating action on CESIPL is consistent
with 'Assessing Information Adequacy Risk'. Based on the last
available information, the ratings on bank facilities of CESIPL
continues to be 'CRISIL B+/Stable/CRISIL A4 Issuer not
cooperating'.
Incorporated in 1993, CESIPL is a joint venture between the Kehems
group, India, and CIATS SA, France. The company manufactures
chillers (used for air-conditioners) and thermal energy storage
systems.
MAA PEETAMBRA: CARE Keeps D on INR13.67cr Debt in Not Cooperating
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Maa
Peetambra Sugar and Power Limited (MPSPL) continues to remain in
the 'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 13.67 CARE D; Issuer not cooperating;
Facilities Based on best available
Information
Detailed Rationale & Key Rating Drivers
CARE has been seeking information from MPSPL to monitor the
rating(s) vide email communications dated April 7, 2020, April 25,
2020, May 12, 2020, June 3, 2020 and June 9, 2020 and numerous
phone calls. However, despite repeated requests, the company has
not provided the requisite information for monitoring the ratings.
In line with the extant SEBI guidelines, CARE has reviewed the
ratings on the basis of the best available information which,
however, in CARE's opinion is not sufficient to arrive at a fair
rating. The rating on MPSPL's bank facilities will now be denoted
as CARE D; ISSUER NOT COOPERATING.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
The ratings assigned to the bank facility of MPSPL factored in
delays in its debt servicing.
Detail description of the key rating drivers
At the time of last rating on April 19, 2019, the following was the
rating weakness.
Key rating weaknesses
* On-going delay in repayment of term loan and over drawings in
cash credit limits: There were instances of delay in repayment of
term loan and overdrawing in cash credit account owing to stressed
liquidity position due to continuous operating and cash losses
generated from operations.
Dabra (Madhya Pradesh) based Maa Peetambra Sugar and Power Limited
(MPSPL, CIN: U15420MP2013PLC030055) was incorporated in 2013 by Mr.
Rajendra Kandele is mainly engaged in the manufacturing of White
Sugar.
MAGPIE GLOBAL: Ind-Ra Assigns BB LT Issuer Rating, Outlook Stable
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has assigned Magpie Global
Limited (MGL) a Long-Term Issuer Rating of 'IND BB'. The Outlook is
Stable.
The instrument-wise rating actions are:
-- INR60 mil. Fund-based working capital limits assigned with
IND BB/Stable/IND A4+ rating;
-- INR60 mil. Proposed fund-based limit* assigned with
Provisional IND BB/Stable/ Provisional IND A4+ rating; and
-- INR10 mil. Non-fund-based limit assigned with IND A4+ rating.
* The rating is provisional and the final rating shall be
confirmed upon the disbursement of the loan for the above
facilities by MGL to the satisfaction of Ind-Ra.
KEY RATING DRIVERS
The ratings reflects MGL's moderate credit metrics with the gross
interest coverage (operating EBITDAR/gross interest expense + rent)
of 2.15x in FY20 (FY19: 2.04x; FY18: 1.70x) and the net leverage
(adjusted net debt/operating EBITDAR) of 2.27x (5.82x; 6.49x). The
improvement in the credit metrics in FY20 was mainly due to an
increase in the absolute EBITDAR to INR43.13 million (FY19:
INR32.60 million; FY18: INR18.35 million) owing to an increase in
the exports for FY20. FY20 numbers are provisional in nature.
The ratings also reflect MGL's medium of operations with revenue of
INR1,117.53 million in FY20 (FY19: INR874.13 million; FY18:
INR505.32 million). The revenue increased in FY20 on account of a
rise in the export of cigarettes to gulf countries through
intermediary trading. The ratings also factor in MGL's healthy
EBITDAR margin at 3.86% for FY20 (FY19: 3.73%; FY18: 3.63%) with
the return on capital employed of 18.10% (14.10%; 10.30%).
Liquidity Indicator – Adequate: MGL's average utilization of
fund-based limits was 77.10% for the 12 months ended in May 2020.
Its fund flow from operations remained positive at INR11.54 million
in FY20 (FY19: INR10.47 million). The cash flow from operation
turned positive at INR93.38 million during FY20 due to a fall in
the working capital requirements. The cash and cash equivalent
stood at INR23 million in FY20 (FY19: INR3 million). The company's
networking capital cycle was comfortable at 33 days in FY20 (FY19:
77 days) on account of a decrease in the inventory and receivable
days. MGL has not availed the Reserve Bank of India-prescribed
moratorium.
The ratings are, however, supported by MGL's promoters' over
three-decade-long track record in the alcoholic beverages industry,
and the company's strong relationship with customers and
suppliers.
RATING SENSITIVITIES
Negative: A significant decline in the revenue and/or the operating
profit leading to deterioration in the credit metrics with the
interest coverage below 2x along with deterioration in the
liquidity position could lead to negative rating action.
Positive: An increase in the revenue and the EBITDA margin, along
with an improvement in the credit metrics as well as the liquidity
position, could lead to positive rating action.
COMPANY PROFILE
Incorporated in 2006, MGL is engaged in the import, export, and
distribution of alcoholic beverages and cigarettes.
MONEYPLUS FINANCIAL: Ind-Ra Assigns BB Loan Rating, Outlook Stable
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has rated Moneyplus Financial
Services Private Limited's (MFSPL) bank loans as follows:
-- INR50 mil. Bank loans assigned with IND BB/Stable rating.
KEY RATING DRIVERS
The rating reflects MFSPL's small scale of operations as indicated
by assets under management (AUM) of INR336.9 million in FY20 (FY19:
INR393 million, FY18: INR401.3 million) across five branches in
Delhi and Haryana.
The rating is also constrained by MFSPL's exposure to geographical
concentration risk. Of the company's total portfolio, INR318.03
million was concentrated in Delhi and the remainder in Haryana. The
AUM is further divided into loans against property (53%) and loan
against shares (LAS; 47%). The LAS portfolio is also highly
concentrated with six accounts accumulating to around INR157
million at FYE20.
The rating also reflects MFPL's concentrated source of funding as
it borrows mostly from non-financial banking companies (NBFCs).
Among the banks, it has a relation with one small finance bank, AU
Small Finance Bank Limited (debt rated at 'IND AA-'/Stable) in
FY20. The profitability is impacted by high borrowing costs with
RoA of 1.83% at end-December 2019 (FY19: 3.64%, FY18: 3.65%).
Although the company is exposed to funding risk, it has been able
to renew or source funding from existing as well as new NBFCs. The
company was able to secure INR607 million funding lines till
4QFY20.
However, the rating is supported by the company's low delinquencies
with gross non-performing assets of 1.3% at end-January 2020
(FYE19: 0.5%). The LAS portfolio did not have any delinquencies,
while the loan against property portfolio had gross non-performing
assets of 2.6% at end-January 2020 (FYE19: 0.9%). The company has
an experienced management team who continuously monitors both the
portfolio segments and tries to keep the delinquencies in check.
The rating also benefits from MFSPL's adequate capitalization
levels, as indicated by the capital to risk-weighted adequacy ratio
of (CRAR) of 33.13% and Tier I of 32.82% in 9MFY20 (FY19: 32.80%,
FY18: 24.90). MFSPL also maintained a reasonable leverage
(debt/equity) of 1.81x in 9MFY20 (FY19: 1.98x, FY18: 2.95x). The
company has an internal policy of maintaining its LAS portfolio
below 50% with the leverage not exceeding 4x at any point in time.
Liquidity Indicator – Adequate: At FYE20, MFSPL maintained a
cumulative surplus of around 15.29% of its total assets in up to
one-year bucket. Despite stressing the inflows, the surplus stood
at 2.68%. As of end-March 2020, the company also had INR179.96
million of unutilized bank lines.
MFSPL offered a moratorium to around 8% of its borrowers for April
and May 2020. Since the majority of the collections are through
bank transfer, it is only limited to the ability and willingness of
a borrower to pay. At end-April 2020, the company's collection
efficiency was around 62% after accounting for the moratorium
offered. No disbursements were made in April and May 2020, however,
the company expects the disbursements to start by end-July 2020.
RATING SENSITIVITIES
Positive: Significant expansion and diversification of the
franchise, scaling up of operations while maintaining adequate
short-term liquidity, and higher capital buffers and low leverage
while maintaining the asset quality will be positive for the
rating.
Negative: Significant deterioration in profitability and capital
impairment (below the regulatory minimum) arising from a possible
increase in non-performing assets (gross non-performing assets
above 5%) impacting its asset quality and inability to secure
funding from financial institutions will be negative for the
rating.
COMPANY PROFILE
MFSPL, an NBFC registered with the Reserve Bank of India, provides
small secured loans to micro, small and medium enterprises.
NORTHERN INDIA LEATHER: Ind-Ra Lowers LT Issuer Rating to 'D'
-------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Northern India
Leather Cloth Manufacturing Co. Private Limited's (NILCO) Long-Term
Issuer Rating to 'IND D' from 'IND B'. Simultaneously, Ind-Ra has
reassigned SPCPL a Long-Term Issuer Rating of 'IND B-'. The Outlook
is Stable.
The instrument-wise rating actions are:
-- INR140 mil. Fund-based working capital limits* downgraded and
reassigned with IND B-/Stable/IND A4 rating.
-- INR20 mil. (reduced from INR40 mil.) Non-fund-based working
capital limits* downgraded and reassigned with IND A4 rating;
and
-- INR180.72 mil. (reduced from INR186.10 mil.) Term loan* due on
April 5, 2024 - October 5, 2032 downgraded and reassigned
with IND B-/Stable rating.
*Downgraded to 'IND D' before being reassigned
KEY RATING DRIVERS
The downgrade to 'IND D' reflects NILCO's delays in servicing of
the term loan during January, February and March 2020 due to a
stressed liquidity position. The reassignment of the Long-Term
Issuer Rating of 'IND B-' reflects the moratorium of six months
availed by the company from all the banks under the Reserve Bank of
India's COVID-19 relief package for interest and principal payments
on its debt till September 2020.
Liquidity Indicator - Poor: NILCO's fund-based limits were almost
fully utilized during the 12 months ended June 2020 with few
instances of overutilization. Ind-Ra estimates the company's cash
flow from operations to have improved to INR14.53 million in FY20
(FY19: INR0.16 million) mainly due to lower working capital
requirements and the consequent reduction in interest obligations.
Ind-Ra estimates the company to have had a low cash balance of
INR1.4 million at FYE20 (FYE19: INR3.69 million).
The ratings are also constrained by NILCO's small scale of
operations. The agency estimates the revenue to have declined
marginally to INR403 million in FY20 (FY19: INR415.35 million) due
to the COVID-19-led lockdown, which led to lower revenue in March
2020. Ind-Ra expects the revenue to decline further in FY21 owing
to the COVID-19 impact.
The ratings also factor in NILCO's modest EBITDA margins and credit
metrics. The return on capital employed was 8.0% in FY20 (FY19:
7.8%). Ind-Ra estimates the EBITDA margins to have declined to
11.7% in FY20 (FY19: 11%; FY18:12.2%) due to a decline in raw
material costs. NILCO's interest coverage (operating EBITDA/gross
interest expense) is likely to have improved marginally to 1.18x in
FY20 (FY19: 1.05x) and net leverage (total adjusted net
debt/operating EBITDAR) to 7.06x (7.39x) owing to a decrease in
manufacturing expenses to INR312.24 million (INR325.15 million).
Ind-Ra expects the margins and the credit metrics to deteriorate
marginally in FY21 owing to the impact of the COVID-19 led
lockdown.
However, the ratings remain supported by the promoters' more than
two decades of experience in the textile business.
RATING SENSITIVITIES
Negative: Deterioration in the liquidity position and/or decline in
the scale of operations leading to any deterioration in the credit
metrics would be negative for the ratings.
Positive: Improvement in the scale of operations leading to any
improvement in the credit metrics and an improvement in the
liquidity position would be positive for ratings.
COMPANY PROFILE
Incorporated in 1980, NILCO manufactures polyvinyl chloride-coated
fabric, also known as synthetic leather, which is used in footwear,
furnishing and sports goods, at its plant in Faridabad, Haryana.
The company sells its products under the NILCO brand. It operates
at 50% of the capacity.
RADHA GOVIND: Ind-Ra Affirms B+ LT Issuer Rating, Outlook Stable
----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Shree Radha Govind
Agro Industries' (Radha) Long-Term Issuer Rating at 'IND B+'. The
Outlook is Stable.
The instrument-wise rating actions are:
-- INR90 mil. Fund-based working capital limits affirmed with
IND B+/Stable/IND A4 rating.
KEY RATING DRIVERS
The affirmation reflects Radha's continued small scale of
operations. Its revenue increased to INR432 million in FY20 (FY19:
INR356 million) due to increased orders. The firm sells locally to
the mandis of agricultural produce market committee (APMC) market.
FY20 financials are provisional in nature.
Liquidity Indicator - Poor: The firm's average fund-based
utilization was 62.76%, as of May 2020, and the firm has availed of
moratorium for April-August 2020. The firm's utilization is
generally at its peak after the crop season (April-August) as the
firm has to store paddy after the crop season, which involves
blocking of its working capital. Its cash flow from operations
turned positive to INR22 million in FY20 (FY19: negative INR23
million) due to an improvement in the working capital cycle to 68
days (111 days) driven by a reduction in inventory days to 52 (116
) due to a delay in the procurement of raw materials following the
COVID-19 led lockdown. The firm gives credit period of 15-20 days
to its customers and had a cash balance of INR0.43 million as at
FYE20 (FYE19: INR2.6 million).
The ratings are constrained by Radha's moderate credit metrics. Its
net financial leverage (adjusted net debt/operating EBITDAR)
improved to 3.2x in FY20 (FY19: 5.5x) due to an increase in the
absolute EBITDA to INR19 million (INR15.5 million) and lower
utilization of working capital facility. The interest coverage
(operating EBITDA/gross interest expense), although improved, was
low at 1.4x in FY20 (FY19:1.2x). A further improvement in the
interest coverage was arrested by an increase in interest expenses
to INR14 million in FY20 (FY19: INR13 million).
The ratings are further constrained by the firm's modest EBITDA
margin, which remained flat in FY20 at 4.4%, despite the increase
in revenue, due to an increase in variable expenses such as
employee and insurance costs. The cost of paddy accounts for
80%-85% of the company's cost of producing rice. The return on
capital employed stood at 12.68% in FY20 (FY19: 9.56%). Ind-Ra
believes Radha's operating profitability will remain susceptible to
volatility in raw material prices, which essentially depends on the
total agricultural output.
The ratings also factor in the risk inherent to a partnership firm,
including capital withdrawal risk.
The ratings, however, are supported by the promoters' over two
decades of experience in the rice milling industry.
RATING SENSITIVITIES
Positive: A significant increase in the revenue and profitability,
resulting in the improvement of overall liquidity profile leading
to interest coverage rising above 1.8x, all on a sustained basis,
would be positive for the ratings.
Negative: A decline in the revenue and operating profitability,
resulting in a significant deterioration of liquidity profile,
leading to interest coverage remaining below 1.8x, all on a
sustained basis, will be negative for the ratings.
COMPANY PROFILE
Ahmedabad-based Shree Radha is a partnership firm established in
1998 and processes rice from paddy with an installed capacity of
17,500 metric tons per year.
RAGHUVIR OIL: CARE Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Raghuvir
Oil Mill (ROM) continues to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 1.00 CARE D; Issuer not cooperating;
Facilities Based on best available
Information
Short-term Bank 8.95 CARE D; Issuer not cooperating;
Facilities Based on best available
Information
Detailed Rationale & Key Rating Drivers
CARE had, vide press release dated July 14, 2017, placed the rating
of ROM under the 'Issuer Non-cooperating' category as the firm had
failed to provide information for monitoring of the ratings and had
not paid the surveillance fees for the rating exercise as agreed to
in its Rating Agreement. Further, CARE had reaffirmed ratings of
ROM at 'CARE D; Issuer Not Cooperating' vide its press release
dated June 6, 2019 due to on-going delays in debt servicing
obligations.
ROM continues to be non-cooperative despite repeated requests for
submission of information through phone calls and a letter dated
June 12, 2020. In line with the extant SEBI guidelines, CARE has
reviewed the rating on the basis of the best available information
which however, in CARE's opinion is not sufficient to arrive at a
fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Detailed description of the key rating drivers
At the time of last rating on June 6, 2019, the following was the
rating weakness (updated based on the best available information).
Key Rating Weaknesses
Delays in servicing of debt obligations: There are delay/
irregularities in serving of debt obligations by the company and
the account has been treated as NPA.
Established in 1995, Raghuvir Oil Mill (ROM) is engaged in the
business of crushing and processing of groundnut seeds to produce
groundnut oil and groundnut cake. Its present partners took over
the business in 2010. ROM's manufacturing facility is located at
Keshod, Gujarat with an installed capacity of 1,450 Metric Tonne
Per Annum (MTPA) for groundnut seed crushing and 15,000 Metric
Tonne Per Annum (MTPA) for groundnut seed processing.
RANCHHOD OIL: CARE Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Ranchhod
Oil Mill Company (ROMC) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 9.50 CARE D; Issuer not cooperating;
Facilities Based on best available
Information
Short-term Bank 0.40 CARE D; Issuer not cooperating;
Facilities Based on best available
Information
Detailed Rationale & Key Rating Drivers
CARE had, vide press release dated July 14, 2017, placed the rating
of ROMC under the 'Issuer Non-cooperating' category as the firm had
failed to provide information for monitoring of the ratings and had
not paid the surveillance fees for the rating exercise as agreed to
in its Rating Agreement. Further, CARE had reaffirmed ratings of
ROMC at 'CARE D; Issuer Not Cooperating' vide its press release
dated June 6, 2019 due to on-going delays in debt servicing
obligations.
ROMC continues to be non-cooperative despite repeated requests for
submission of information through phone calls and a letter dated
June 12, 2020. In line with the extant SEBI guidelines, CARE has
reviewed the rating on the basis of the best available information
which however, in CARE's opinion is not sufficient to arrive at a
fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Detailed description of the key rating drivers
At the time of last rating on June 6, 2019, the following was the
rating weakness (updated based on the best available information).
Key Rating Weaknesses
* Delays in servicing of debt obligations: There are delay/
irregularities in serving of debt obligations by the company and
the account has been treated as NPA.
Established in 1997, Ranchhod Oil Mill Company (ROMC) is a
partnership firm formed by partners Mr. Jeram Gami and Mr. Bharat
Gami (with equal profit and loss sharing) for undertaking
processing and trading of agro-products like groundnut, cumin seed,
husk and sesame seed, etc. The firm generates majority of its
income from export to countries like Philippines, China, Gulf
countries etc. ROMC's sole processing facility is located in Keshod
region of Gujarat. The firm operates with installed processing
capacity of 37000 metric tonne per annum (MTPA).
SARVOTTAM ATTA: CARE Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Sarvottam
Atta Pvt. Ltd. (SAPL) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 18.00 CARE D; Issuer not cooperating;
Facilities Based on best available
Information
Short-term Bank 2.00 CARE D; Issuer not cooperating;
Facilities Based on best available
Information
Detailed Rationale & Key Rating Drivers
CARE had, vide press release dated September 18, 2018, placed the
rating of SAPL under the 'Issuer Non-cooperating' category as the
company had failed to provide information for monitoring of the
ratings and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. Further, CARE had
reaffirmed ratings of SAPL at 'CARE D; Issuer Not Cooperating' vide
its press release dated June 28, 2019 due to on-going delays in
debt servicing obligations.
SAPL continues to be non-cooperative despite requests for
submission of information through e-mails, phone calls and a
letter/e-mail dated June 12, 2020. In line with the extant SEBI
guidelines, CARE has reviewed the rating on the basis of the best
available information which however, in CARE's opinion is not
sufficient to arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Detailed description of the key rating drivers
At the time of last rating on June 28, 2019, the following was the
rating weakness (updated based on the best available information)
Key Rating Weaknesses
* Delays in servicing of debt obligations: There are delay/
irregularities in serving of debt obligations by the company and
the account has been treated as NPA.
SAPL was established as a proprietorship firm by Mr. Jilubhai
Chauhan in 2005 and was reconstituted as a private limited company
in June 2014. SAPL is engaged in the business of grain processing
(wheat) and produces flour and semolina (rava) and sells it under
the brand name 'Vanraj'. Its manufacturing facility is located at
Sihor in Gujarat and operates with an installed capacity of 200
metric tonnes per day.
SARVOTTAM VEGETABLE: CARE Keeps D Debt Rating in Not Cooperating
----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Sarvottam
Vegetable Oil Refinery Pvt. Ltd. (SVPL) continues to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 10.24 CARE D; Issuer not cooperating;
Facilities Based on best available
Information
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated November 20, 2018, placed
the rating(s) of SVPL under the 'issuer non-cooperating' category
as SVPL had failed to provide information for monitoring of the
rating and had not paid the surveillance fees for the rating
exercise as agreed to in its Rating Agreement. SVPL continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and email dated June 16,
2020. In line with the extant SEBI guidelines, CARE has reviewed
the rating on the basis of the best available information which
however, in CARE's opinion is not sufficient to arrive at a fair
rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Detailed description of the key rating drivers
At the time of last rating on July 9, 2019, following were the
rating weaknesses:
Key Rating Weaknesses
* Ongoing delays in servicing of debt obligations: There are
ongoing delays in servicing of SVPL's debt obligations due to its
stressed liquidity.
Incorporated in May 2000, SVPL is promoted by Indore based Adwani
family. SVPL is engaged in the business of refining crude soya oil
and sale of its by-products. The company operates with refining
capacity of 200 tonnes per day (TPD) and soya lecithin processing
capacity of 6 TPD. All the key raw materials are procured from
local markets, whereas, the final product is sold in
wholesale/bulk segment across various states.
SHRADDHA MOTORS: CRISIL Withdraws B Rating on INR10cr Cash Loan
---------------------------------------------------------------
CRISIL has revised the ratings on certain bank facilities of
Shraddha Motors Private Limited (SMPL), as:
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Cash Credit 10 CRISIL B/Stable (ISSUER NOT
COOPERATING; Rating Withdrawn)
CRISIL has been consistently following up with SMPL for obtaining
information through letters and emails dated October 31, 2018 and
April 25, 2019 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 while using the rating assigned/reviewed with
the suffix 'ISSUER NOT COOPERATING'. These ratings lack a forward
looking component as it is arrived at without any management
interaction and is based on best available or limited or dated
information on the company.
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 SMPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SMPL is
consistent with 'Scenario 1' outlined in the 'Framework for
Assessing Consistency of Information with CRISIL BB' rating
category or lower'.
CRISIL has withdrawn its ratings on the bank facilities of SMPL on
the request of the company and after receiving a no-objection
certificate from the bank. The rating action is in line with
CRISIL's policy on withdrawal of ratings
Incorporated in November 2006, SMPL is an authorised dealer of
passenger vehicles of Tata Motors in Bharuch (Gujarat). The company
has been promoted by Mr. Pankaj Desai and his family members.
SIDDHARTH AGRO: CARE Withdraws B-/A4 Ratings on Bank Debts
----------------------------------------------------------
CARE has revised the rating assigned to the bank facilities of
Siddharth Agro Industries (SAI) to 'CARE B-;Stable/CARE A4; Issuer
not cooperating' from CARE B; Stable/CARE A4; Issuer Not
Cooperating and has simultaneously withdrawn it, with immediate
effect. The revision in the rating of Siddharth Agro Industries is
on account of non-availability of requisite information. The
ratings are constrained on account of its modest scale of
operations with its constitution as a proprietorship concern, thin
profitability and leveraged capital structure. The ratings are
further constrained on account of its presence in highly fragmented
and competitive industry along with seasonal nature of the
operations and vulnerability of margins to price fluctuations with
agro commodities industry.
The ratings, however, favorably take into account experienced
management in the trading and processing of agro commodity business
and strategic location of manufacturing units with close proximity
to raw material sources.
The rating withdrawal is at the request of SAI and 'No Objection
Certificate' received from the bank that has extended the
facilities rated by CARE.
Key Rating Weaknesses
* Thin profitability and moderate solvency position: Due to
presence in a highly fragmented industry and vulnerability of
margins to volatile prices of agriculture commodities led to thin
profitability of the firm. The capital structure of the firm stood
leveraged as well as debt coverage indicators also stood weak.
* Seasonality associated with agro commodities and presence in
highly fragmented and government regulated industry: The industry
is highly fragmented and competitive in nature as evident by the
presence of numerous unorganized and few organized player. Further,
the industry is characterized by high degree of government control
both in procurement and sale for agriculture commodities.
Key Rating Strengths
* Experienced management with long track record of operations: The
overall affairs of SAI are managed by Mr. Subhash Chandra Jain and
assisted by other family members and have strong group support. Mr.
Subhash Chandra Jain has more than four decade of experience in
this industry. Being present in the industry since long period, the
promoters have established relationship with customers and
suppliers for its product.
* Location advantage being presence in pulse sowing region: SAI
strategically located in one of the largest pulse producing regions
of India and makes easier access to raw material.
Indore based (Madhya Pradesh) Siddharth Agro Industries (SAI) was
formed in 2003 as a proprietorship concern by Mr. Suresh Jain. SAI
is engaged in the business of manufacturing and trading of pulses
specially chana dal and masoor dal after processing which includes
cleaning, polishing and quality testing. It procures raw material
from the local mandis as well as from farmers through brokers. The
firm also imports its raw material from African countries and
Myanmar. SAI sells its products majorly in the states of
Maharashtra and Delhi. It sells its products under the brand name
of "White Rose", "Laal Gulab", "Joker" and "Rolex".
SPGV PETROCHEM: CARE Keeps D on INR24.80cr Debt in Not Cooperating
------------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of SPGV
Petrochem (India) Private Limited (SPGV) continues to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term/ 24.80 CARE D/CARE D; Issuer Not
Short-term Cooperating; Based on best
Bank available information
Facilities
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated June 28, 2019, placed the
ratings of SPGV under the 'Issuer non-cooperating' category as SPGV
had failed to provide information for monitoring of the rating.
SPGV continues to be non-cooperative despite repeated requests for
submission of information through email, phone calls and a
letter/email dated June 13, 2020. Further, SPGV has not provided
monthly 'No Default Statements (NDS)' statements for past more than
12 months. In line with the extant SEBI guidelines, CARE has
reviewed the ratings on the basis of the best available information
which however, in CARE's opinion is not sufficient to arrive at a
fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
Detailed description of the key rating drivers
At the time of last rating of June 28, 2019, the following were the
rating weaknesses, updated for latest available information.
Key Rating Weakness
* On-going delays in servicing of debt obligations: As per
telephonic interaction with the lender(s) of SPGV dated June 24,
2019, the banker had confirmed that the account of the company has
been classified as Non-Performing Asset (NPA) due to delay/
irregularities in debt servicing. Presently, CARE has not been able
to interact with the lenders. However, names of the company and its
directors have been included in the list of wilful defaulters as
per CIBIL for quarters ended December 31, 2019 and March 31, 2020.
Ahmedabad Gujarat based SPGV Petrochem (India) Pvt. Ltd. (SPGV) is
engaged in the trading of petroleum products such as bitumen,
furnace oil and pet coke. SPGV was initially incorporated in
October 2010 as a partnership firm by Mr. Sanjeev Shah and Mr.
Dharmesh Shah as partners. Subsequently, in May 2012, it was
converted into a private limited company.
SPICEJET LIMITED: CRISIL Lowers Rating on INR550cr Loan to D
------------------------------------------------------------
CRISIL has downgraded its rating on the INR550 crore letter of
credit facility of SpiceJet Limited (SpiceJet) to 'CRISIL D' from
'CRISIL A4' and the rating on the long-term bank facilities to
'CRISIL C' from 'CRISIL B/ Negative'. The rating on other
short-term facilities have been reaffirmed at 'CRISIL A4'.
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Letter of Credit 220 CRISIL A4 (Reaffirmed)
Letter of Credit 550 CRISIL D (Downgraded from
'CRISIL A4')
Packing Credit in 350 CRISIL A4 (Reaffirmed)
Foreign Currency
Term Loan 325 CRISIL C (Downgraded from
'CRISIL B/Negative')
The downgrade factors in deterioration in SpiceJet's liquidity
profile, as reflected in invocation of standby letter of credit
(SBLC), which remained unpaid for more than 30 days as on June 29,
2020. SpiceJet's liquidity deteriorated because of disruption in
operations.
Aviation is one of the most impacted sectors from the nationwide
lockdown to contain the Covid-19 pandemic. All international and
domestic flights were suspended from March 25, 2020. The central
government allowed domestic flights to resume operations at
one-third capacity from May 25, 2020; however, international
flights remain suspended. Even after the lifting of the lockdown,
social distancing norms and fear of enclosed spaces will keep the
overall air traffic volume low for a while.
The ratings continue to reflect SpiceJet's stretched liquidity
because of disruption in operations, susceptibility to volatility
in aviation turbine fuel (ATF) price and foreign exchange (forex)
rates and high fixed cost structure. These weaknesses are partially
offset by SpiceJet's established position in the airline industry
and efficient operations.
On June 12, 2020, CRISIL had reaffirmed its 'CRISIL
B/Negative/CRISIL A4' ratings on the bank facilities of SpiceJet.
There was a procedural delay of three days in making payment to a
banker in June 2020 towards the SBLC facility. CRISIL noted that
the delay was a one-off event on account of logistical challenges
faced by the company in arranging the required documentation.
CRISIL noted that the delay of three days arose because of
temporary operational challenges amid the lockdown and should not
be recognised as a default, in line with the Securities and
Exchange Board of India circular
(SEBI/HO/MIRSD/CRADT/CIR/P/2020/53) issued on March 30, 2020.
Analytical Approach
For arriving at the ratings, CRISIL has combined the business and
financial risk profiles of SpiceJet and its subsidiaries, including
SpiceJet Merchandise Pvt Ltd and SpiceJet Technic Pvt Ltd. This is
because all these companies, collectively referred to as SpiceJet,
are in the same line of business and under a common management.
CRISIL has added the discounted value of future non-cancellable
lease payments to arrive at adjusted debt, while such lease
payments are added back to the operating profit to arrive at
earnings before interest, tax, depreciation, amortisation and
rentals (EBITDAR). Debt protection metrics, including leverage and
interest coverage ratios, are calculated using adjusted debt and
EBITDAR.
Key Rating Drivers & Detailed Description
Weaknesses
* Liquidity weakened by disruption in operations: Fixed costs
account for 30-35% of the costs of an airline. Therefore,
suspension of domestic as well as international flights in April
and May 2020 significantly impacted the liquidity of airlines,
including SpiceJet. The company incurred cost on fixed expenses,
such as salaries, rent and aircraft leases, against nil revenue
during this time. SpiceJet took steps such as deferring some of
these payments, but the impact on liquidity has been significant.
* Susceptibility to volatility in ATF price and forex rates and
high fixed costs inherent in the airline industry: ATF accounts
for 35-40% of the total operating cost of players in the industry.
ATF price is directly linked to global crude oil prices and is,
therefore, volatile. Moreover, players have limited ability to pass
on price increase to passengers because of intense competition and
the likely adverse impact on passenger load factor (PLF). While
significant decline in ATF price will partly cushion any loss
incurred on account of high fixed cost, any support to the
operating margin because of benign ATF price after normal
operations have resumed will be a key monitorable.
Operations are also susceptible to forex fluctuations, as lease
rentals and maintenance cost, which account for 35-40% of the
operating cost, are denominated in USD. The ability to pass on any
large increase in operating cost will remain constrained by intense
competition in the sector.
Strength
* Established position in the airline industry and efficient
operations: SpiceJet's domestic market share increased to 15.3% in
February 2020 from 13.7% a year earlier, as Jet Airways
discontinued operations from April 2019. The market position
strengthened because of the availability of additional aircrafts
from Jet Airways despite grounding of 13 of its own Boeing 737 MAX
aircrafts after security concerns in April 2019. Furthermore, the
company has been allotted slots vacated by Jet Airways, largely on
metro and Tier-I routes, complementing its already strong presence
in routes connecting Tier-II and III cities.
Moreover, during the lockdown, SpiceJet significantly ramped up its
air cargo operations. The company's continued focus on the segment
and its contribution to the overall cash flow will remain
monitorables.
SpiceJet reported PLF above 90% over the eight months through
February 2020, driven by efficient fleet utilisation. Furthermore,
the company has put in concerted efforts into building a strong
brand by focusing on on-time performance and minimal cancellations.
Its ability to maintain a healthy market share and strong operating
metrics upon resumption of normal services will be a key
monitorable.
Liquidity Poor
Cash accrual was negative in fiscals 2019 and 2020. Moreover, high
fixed costs and disruption of operations in April and May 2020
further weakened liquidity, which will remain poor on account of
expected fall in occupancy because of the Covid-19 pandemic.
Rating Sensitivity factors
Upward factors
* Sustained improvement in liquidity on account of better cash
accrual or fresh fund infusion
* PLF at 85-90%, indicating faster-than-expected recovery (as
domestic flights are operational now)
Downward factors
* Continued weak liquidity profile impacting the debt servicing
ability
* Cash loss because of high operating cost and low occupancy
SpiceJet is promoted by Mr. Ajay Singh, who held more than a 60%
stake in the company as on June 30, 2018. SpiceJet is a low-cost
carrier and the fourth largest airline in India by the number of
domestic passengers carried.
Incorporated as an air taxi provider in 1984, it diversified into
domestic aviation services in 1993 and was renamed Modiluft Ltd in
1994. The company got its current name in 2005, when services were
relaunched after being shut down in 1996. SpiceJet operated its
first flight in May 2005. Mr. Kalanidhi Maran acquired a
controlling stake in the company in June 2010, through the Sun
group. The stake was sold back to Mr. Ajay Singh in January 2015.
The airline operates a fleet of Boeing 737 and Bombardier Dash
aircrafts.
For the nine months ended December 31, 2019, the company reported
operating revenue of INR9,508 crore and net loss of INR120 crore
against operating revenue of INR6,587 crore and net loss of INR357
crore in the corresponding period of the previous fiscal.
STERLING GATED: CARE Lowers Rating on INR60cr NCD to D
------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Sterling Gated Community Private Limited (SGCPL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Non-Convertible 60 CARE D Revised from
Debenture issue CARE B; Stable
Detailed Rationale & Key Rating Drivers
The revision in rating of Non-Convertible Debenture (NCD) Issue of
SGCPL takes into account of default in redemption and coupon
payment of NCD which fell due for payment on June 30, 2020. Due to
unfavorable market condition for launch of luxury projects, the
company was unable to launch the project resulting in tight
liquidity condition.
Rating Sensitivities
Positive:
Delay free track record in payment of principal and interest of
rated bonds consecutively or 3 months
Negative: Not Applicable
Detailed description of the key rating drivers
Key Rating Weaknesses
* Non redemption of NCD on due date: Company couldn't redeem the
NCDs which fell for redemption on June 30, 2020. Though the due
date for repayments has been deferred by investors each year from
June 30, 2017 to June 30, 2020, the same could not be redeemed due
to the project not taking off as expected resulting in poor
liquidity issues.
Key Rating Strengths
* Experienced Promoters: The Sterling group, promoted by Mr. Ramani
Sastri and Mr. Shankar Sastri, has presence in the Bangalore real
estate market since 1983 and has an experience in developing
apartments, villas and commercial complexes across Bangalore. The
Sterling developers group till date has developed over 30 projects
in total.
Liquidity: Poor
Liquidity position of the company is poor considering the project
is not launched and therefore has not generated any cash flows.
SGCPL is a special purpose vehicle (SPV) formed by Mr. Ramani
Sastri and Mr. Shankar Sastri, who have more than 30 years of
experience in developing real estate projects in Bangalore and
founders of the Sterling group. SGPCL plans to develop a real
estate apartment project in Whitefield, Bangalore. The project has
seen inordinate delays and is not yet launched due to unfavorable
market conditions for luxury segment projects.
SUCHIRINDIA CONSTRUCTIONS: CRISIL Rates INR15cr LT Loan 'B+'
------------------------------------------------------------
CRISIL has assigned its 'CRISIL B+/Stable' rating to the long-term
facility of Suchirindia Constructions Pvt Ltd (SCPL).
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Proposed Long Term
Bank Loan Facility 15 CRISIL B+/Stable (Assigned)
The rating reflects SCPL's nascent stage of project implementation
and vulnerability to cyclicality in the real estate industry. These
weaknesses are partially offset by the extensive experience of the
promoters.
Key Rating Drivers & Detailed Description
Weaknesses:
* Initial stage of project implementation: SCPL is expected to
launch its new project in Shamshabad (Hyderabad) in July, 2020.
Since the project is in its initial stage, it remains exposed to
high demand, funding and implementation risks.
* Vulnerability to cyclicality inherent in the real estate
industry: The real estate sector in India is cyclical and affected
by volatile prices, opaque transactions, and a highly fragmented
market structure. Hence, business risk profile will remain
susceptible to risks arising from any industry slowdown.
Strength
* Extensive experience of the promoters: Extensive industry
experience has enabled the promoters to establish a track record of
successful project implementation.
Liquidity Stretched
Liquidity is expected to remain stretched as financial closure is
yet to be achieved. Also liquidity remains susceptible to the
bookings received and timely receipt of customer advances.
Outlook: Stable
CRISIL believes SCPL will continue to benefit from the extensive
experience of its promoters.
Rating Sensitivity Factors
Upward Factors
* Better-than-expected bookings of over 40% for the project in
fiscal 2021 and higher customer advances resulting in sizeable
surplus.
* Timely implementation of the project within the budgeted cost
along with lower dependence on external debt.
Downward Factors
* Lower-than-expected flow of customer advances due to bookings of
less than 15% and higher-than-expected debt resulting in stretched
liquidity.
* Any further fund support extended to group companies/related
parties.
* Significant time or cost overrun in the projects.
Incorporated in 2007 by Dr Kiran Kumar Yadugiri and Mrs Pushpa
Kumar Yadugiri, SCPL is engaged in developing plots in Telangana.
As per the National Company Law Tribunal wide its order dated
September 26, 2019 has approved the scheme of amalgamation between
Suchirindia Projects Pvt Ltd (transferor company) with SCPL
(transferee company) with effective date of amalgamation being
April 1, 2018.
SWASTIK PANELS: CRISIL Lowers Ratings on INR6cr Loans to D
----------------------------------------------------------
CRISIL has revised the ratings on certain bank facilities of
Swastik Panels Private Limited (SPPL), as:
Amount
Facilities (INR Crore) ratings
---------- ----------- -------
Cash Credit 3 CRISIL D (ISSUER NOT COOPERATING;
Downgraded from 'CRISIL B/Stable
ISSUER NOT COOPERATING')
Letter of Credit 3 CRISIL D (ISSUER NOT COOPERATING;
Downgraded from 'CRISIL A4 ISSUER
NOT COOPERATING')
CRISIL has been consistently following up with SPPL for obtaining
information through letters and emails dated October 22, 2019 and
October 29, 2019 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 SPPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SPPL, is
consistent with 'Scenario 1' outlined in the best 'Framework for
Assessing Consistency of Information with 'CRISIL BB' category or
lower'.
Based on best available information, CRISIL has downgraded the
ratings to 'CRISIL D/CRISIL D Issuer Not Cooperating' from 'CRISIL
B/Stable/CRISIL A4 Issuer Not Cooperating' on account of overdue in
the cash credit account.
Incorporated in 2002, SPPL is promoted by Mr. Ashok Jain (managing
director). The company manufactures veneer and trades in timber.
Its manufacturing facility is in Jaipur.
SWASTIK PLYBOARD: CRISIL Lowers Rating on INR3cr Loan to D
----------------------------------------------------------
CRISIL has revised the ratings on certain bank facilities of
Swastik Plyboard Limited (SPL), as:
Amount
Facilities (INR Crore) Ratings
---------- ----------- -------
Bank Guarantee 2 CRISIL D (ISSUER NOT COOPERATING;
Downgraded from 'CRISIL A4 ISSUER
NOT COOPERATING')
Cash Credit 3 CRISIL D (ISSUER NOT COOPERATING;
Downgraded from 'CRISIL B-/Stable
ISSUER NOT COOPERATING')
Letter of Credit 1.5 CRISIL D (ISSUER NOT COOPERATING;
Downgraded from 'CRISIL A4 ISSUER
NOT COOPERATING')
CRISIL has been consistently following up with SPL for obtaining
information through letters and emails dated November 26, 2019 and
December 2, 2019 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 SPL, which restricts CRISIL's
ability to take a forward looking view on the entity's credit
quality. CRISIL believes information available on SPL, is
consistent with 'Scenario 1' outlined in the best 'Framework for
Assessing Consistency of Information with 'CRISIL BB' category or
lower'.
Based on best available information, CRISIL has downgraded the
ratings to 'CRISIL D/CRIDIL D Issuer Not Cooperating' from 'CRISIL
B-/Stable/CRISIL A4 Issuer Not Cooperating' on account of overdue
in the cash credit account.
Incorporated in 1996, SPL is promoted by Mr. Sumer Chand Jain. The
company manufactures plyboard, block boards, and flush doors, and
also trades in timber. Its manufacturing facility is in Jaipur.
UDAY AUTOLINK: CARE Withdraws D Rating on Bank Debt
---------------------------------------------------
CARE has reviewed the ratings assigned to the bank facilities of
Uday Autolink Private Limited (UAPL) to CARE D; Issuer not
cooperating and has simultaneously withdrawn it, with immediate
effect. The ratings assigned to the bank facilities of UAPL factor
in its delays in debt servicing.
The ratings withdrawal is at the request of UAPL and 'No Objection
Certificate' received from the bank that has extended the
facilities rated by CARE.
Detailed description of the key rating drivers
Key Rating Weaknesses
* Delays in debt servicing: The ratings assigned to the bank
facilities of UAPL takes into account the fact that there had been
delays in servicing of the company's debt obligations.
Ahmedabad based UAPL was incorporated on July 7, 2011 by Mr. Uday
Bhatt & Ms Mohiniben Bhatt. UAPL is an authorized dealer of Maruti
Suzuki India Limited. It is engaged in selling of Maruti Suzuki
India Limited's passenger cars & provides after sales services to
the customers. UAPL's showroom/workshop is located at Kathwada
village in Ahmedabad district of Gujarat. UAPL is a part of Galaxy
Group having diverse business interests in real estate,
hospitality, etc.
VISHWA (DWARKA-OKHA): CARE Cuts Rating on INR80cr Loan to D
-----------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of
Vishwa (Dwarka-Okha) Road Links Private Limited (VRLPL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term Bank 80.00 CARE D; Issuer Not Cooperating;
Facilities Revised from CARE BB; Stable
basis of best available
information
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated March 22, 2018, placed the
ratings of VRLPL under the 'issuer non-cooperating' category as
VRLPL had failed to provide information for monitoring of the
rating. VRLPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and a letter/email dated June 15, 2020 and June 30, 2020. In line
with the extant SEBI guidelines, CARE has reviewed the rating on
the basis of the best available information which however, in
CARE's opinion is not sufficient to arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
The rating has been revised on account of stretched liquidity
position with delays in debt servicing.
Detailed description of the key rating drivers
At the time of last rating on May 27, 2019, the following were the
rating strengths and weaknesses (updated for details received
during due diligence with lender):
Key rating weakness:
* Stretched liquidity position: The company has been facing
liquidity stretch due to non-receipt of annuities leading to delays
in debt servicing obligation.
* Weak sponsor profile: VISPL has limited experience in executing
road projects and the financial profile of the company has been
weak with net loss and cash loss reported in last three years.
* Project cost overrun: The project faced cost overrun for the ROB
works along with other miscellaneous works including punch list
items and maintenance work aggregating INR24.15 crore as on
November 30, 2016.
* Interest Risk: The applicable rate of interest of the lender is
linked to the base rate plus applicable spread. VRLPL shall remain
exposed to variations in interest rate on the project debt
availed.
* Operation and Maintenance Risk: VRLPL is mandated to operate and
maintain the road as per specifications set out in the CA,
non-compliance of which could result in penalties being levied by
Roads and Buildings Department, Government of Gujarat (R&BD, GOG)
thereby exposing VRLPL to O&M risk.
Key rating strengths:
* Lower revenue risk: The project being annuity based, revenue risk
is mitigated to a large extent. The company had achieved PCOD in
October, 2014 and thus was eligible for receipt of annuity dues.
During March 2016, the company has received pending annuity dues
(with deduction) and has also received two annuities during FY17.
Vishwa (Dwarka-Okha) Roads Links Private Limited (VRLPL) is a
Special Purpose Vehicle (SPV) promoted by Vishwa Infrastructures
and Services Private Limited (Vishwa), as a 100% subsidiary of
Vishwa. The SPV has been awarded the bid by the Roads and Buildings
Department, Government of Gujarat ("R&BD, GOG), for development of
Dwarka– Mithapur – Okha Port from km 232.00 to km 262.20 (30.2
kms) on State Highway No 25 and the section Sikka Patia – Sikka
from km 22.20 to km 27.30 (5.1 km) on State Highway No 92 in
Gujarat on Design, Build, Finance, Operate and Transfer (DBFOT)
Annuity basis in the state of Gujarat. The aggregate cost of the
project is INR129.53 crore (increased from INR118.10 crore) and the
same is funded by debt from banks to the tune of INR100.96 crore
and balance equity by the promoters.
=====================
N E W Z E A L A N D
=====================
CULLEN GROUP: Abandons Tax Appeal, Bendon Sale Queried
------------------------------------------------------
Catherine Harris at Stuff.co.nz reports that Eric Watson's Cullen
Group has dropped its appeal against a NZD112 million tax judgment,
and liquidators continue to investigate matters around the sale of
its lingerie company, Bendon.
A second liquidators' report from KPMG last week said Cullen Group
would drop its appeal against a High Court judgment last year,
which found in favor of Inland Revenue over the company's
non-resident withholding tax, Stuff relays.
Initially, Cullen Group was assessed by the IRD as having avoided
NZD59.5 million tax, and it was ordered by the High Court to pay
NZD51 million, as well as use-of-money, interest and penalties.
Cullen Group was put into liquidation in December last year and
liquidators Vivian Fatupaito and Luke Norman said the total debt
owed to IRD now totalled about NZD118 million. The appeal had been
dropped, Stuff says.
"Having obtained legal advice on the probability of success of the
tax appeal and considered the costs associated with the appeal, the
liquidators decided against proceeding with the appeal and filed
formal notice with the court to this effect," the report read,
Stuff relays.
Following Cullen Group's liquidation, KPMG also picked up the
liquidation of Bush Inn Properties, Cullen Investments and 18
subsidiaries.
A number of the associated companies appeared to have no assets or
creditors, the report, as cited by Stuff, noted.
Two companies have registered general security agreements over
Cullen Group and KPMG was in discussions with them, according to
Stuff.
One was Novatrust, a trustee of the Summit Trust, for just over
NZD513 million. Another, Braithwell Investments, had not filed its
full claim yet.
According to Stuff, Cullen Group's most high profile company,
lingerie company Bendon Group, was sold in 2018 to US sleepwear
company Naked Brand Group.
At present, Bendon Group owes other group entities NZD55 million.
Ms. Fatupaito said they were assessing the transactions by which
Bendon Ltd was sold to Naked Brands Group and the subsequent
transfer of shares in Naked Brands Group owned by Cullen Group
entities, Stuff states.
The group's main asset holding company, Cullen Investments, had
cash in the bank of NZD30,388. The report said a number of assets
recorded in its balance sheet were either "unrecoverable, have
purportedly transferred to another party, written off or are
uneconomical to pursue".
Potentially its largest asset was a loan of NZD17.5 million to Hart
Agriculture Corp, a USA-based company which the liquidators
understood was owned by Richard Watson, Eric Watson's brother.
"Cullen Investments has security over land in respect of this loan.
The liquidators are continuing to review the documentation and
security position," the report said, Stuff relays.
Stuff says the liquidators' only distribution was NZD50,000 from
the sale of a race horse owned by Watson Bloodstock subsidiary to
Cullen Group, to help pay liquidation costs.
Another subsidiary, Batty Road Holdings, had an art collection
which had been put up for sale. It owed other parts of group just
over NZD1 million and to date NZD44,957 has been realised.
Eric Watson also lost an appeal last October against interest on a
GBP43.5 million (NZD87.8 million) payment owed to former business
partner Sir Owen Glenn, recalls Stuff.
That followed a UK High Court ruling in 2018 that Kea Investments
was entitled to compensation, having established that Watson had
engaged in "deliberate deception" when setting up a joint venture
called Spartan Capital, Stuff adds.
As reported in the Troubled Company Reporter-Asia Pacific on Dec.
25, 2019, BusinessDesk said nine other Eric Watson-linked companies
have been moved into liquidation following the collapse of Cullen
Group. According to BusinessDesk, Cullen Group was moved into
liquidation by court order earlier in December after a High Court
judge refused to halt insolvency proceedings against it. KPMG's
Vivian Fatupaito was appointed liquidator by associate judge Hannah
Sargisson on December 17. Since then nine other entities linked to
Watson have also gone under.
MICHAEL HILL: Flags More Store Closures Outside New Zealand
-----------------------------------------------------------
Stuff.co.nz reports that jewellery company Michael Hill is flagging
the possibility of more stores closures, although not in New
Zealand.
According to Stuff, the company told the NZX on July 16 that it was
"constantly reassessing our global store network, and monitoring
lower foot traffic, which in time could see further store
closures".
The chain has closed 11 underperforming stores during the June
quarter, three in New Zealand, seven in Australia, and one in
Canada, Stuff says.
A spokesman said later that no further store closures in New
Zealand were anticipated, Stuff relays.
Stuff relates that chief executive Daniel Bracken said that the
company had taken the opportunity during the height of the
coronavirus pandemic to reshape the business, particularly around
digital sales.
A restructure, including at its support office, had "sadly resulted
in a number of non-customer facing team members departing the
business."
Rental abatements and rent deferrals had been negotiated with many
landlords and they continued, he added.
Reporting its fourth quarter results, Michael Hill said its
Canadian operation had taken longer to catch up, with many
retailers there not reopening until the start of July, Stuff
discloses.
In Victoria, the company had temporarily closed seven stores
because of the recent state resurgence of Covid-19.
Stuff says Mr. Bracken acknowledged there would be further economic
uncertainty, and the company was moving to address its risks and
costs.
But "having said this, the company has experienced a solid start to
the 2021 financial year, with all markets and channels ahead of
prior year".
The reopening of stores had seen "very pleasing" sales despite
lower foot traffic, and online sales had jumped 193 per cent with
margins growing even faster.
For the full year, adjusted same store sales were up by 2.7 per
cent, although it was down almost 14 per cent if the closed stores
were included, adds Stuff.
Headquartered in Brisbane, Australia, Michael Hill International
Ltd. is a speciality retailer of jewellery in North America and
Oceania. As at June 30, 2018, it operates 312 stores in Australia,
New Zealand and Canada.
=====================
P H I L I P P I N E S
=====================
CROWD1 ASIA: SEC Permanently Shuts Investment Scheme
----------------------------------------------------
BusinessWorld Online reports that the Securities and Exchange
Commission (SEC) has denied the request of CROWD1 Asia Pacific,
Inc. to have its shutdown order lifted.
In a statement over the weekend, the corporate regulator said its
cease-and-desist order against CROWD1 has been rendered permanent
when it denied the company's motion to lift the order,
BusinessWorld relates.
"A careful review of the (motion) will show that except for its
general denials, CROWD1 failed to present any evidence in support
of its claim that it is not engaged in the sale and/or offer for
sale of securities in the form of investment contracts," the SEC
said.
To recall, the SEC ordered CROWD1 to shut down in May after it was
found to operate a fraudulent investment scheme, BusinessWorld
relays.
CROWD1 has since filed a motion to lift the order, but was rejected
by the SEC for lack of merit.
According to BusinessWorld, the regulator said CROWD1 solicited and
accepted investments from the public in the guise of a digital
marketing business. Through its investigation, the SEC found CROWD1
offered "educational packages" priced PHP6,000 to PHP240,000 and
promised investors several bonuses through referrals.
BusinessWorld relates that the SEC said this violates the
Securities Regulation Code, which requires that an operator obtains
a license from the SEC to offer investment contracts.
"CROWD1 neither secured a secondary license to operate as a
broker/dealer, registered as issuer of mutual funds,
exchange-traded funds or proprietary/nonproprietary shares, nor
registered any securities," it said.
CROWD1 is now ordered to permanently stop engaging in investment
activities and to stop promoting its schemes online. It is also
prohibited from transacting any business involving funds in its
depository banks.
===============
X X X X X X X X
===============
BOND PRICING: For the Week July 13 to July 17, 2018
---------------------------------------------------
Issuer Coupon Maturity Currency Price
------ ------ -------- -------- -----
AUSTRALIA
---------
CLEAN SEAS SEAFOOD LTD 8.00 11/18/22 AUD 1.04
CLIME CAPITAL LTD/FUND 6.25 11/30/21 AUD 0.98
KEYBRIDGE CAPITAL LTD 7.00 07/31/20 AUD 0.95
MIDWEST VANADIUM PTY LTD 13.25 02/15/18 USD 0.17
MIDWEST VANADIUM PTY LTD 13.25 02/15/18 USD 0.17
PALADIN ENERGY LTD 10.00 02/01/23 USD 60.63
PALADIN ENERGY LTD 10.00 02/01/23 USD 60.63
VIRGIN AUSTRALIA HOLDINGS 8.08 03/05/24 AUD 15.65
VIRGIN AUSTRALIA HOLDINGS 7.88 10/15/21 USD 15.42
VIRGIN AUSTRALIA HOLDINGS 8.25 05/30/23 AUD 15.23
VIRGIN AUSTRALIA HOLDINGS 7.88 10/15/21 USD 15.15
VIRGIN AUSTRALIA HOLDINGS 8.13 11/15/24 USD 15.00
VIRGIN AUSTRALIA HOLDINGS 8.13 11/15/24 USD 15.00
VIRGIN AUSTRALIA HOLDINGS 8.00 11/26/24 AUD 6.82
CHINA
-----
AKESU DISTRICT GREEN INDU 4.09 03/11/23 CNY 59.75
AKESU DISTRICT GREEN INDU 4.09 03/11/23 CNY 59.69
AKESU XINCHENG ASSET INVE 6.40 04/20/22 CNY 40.24
AKESU XINCHENG ASSET INVE 6.40 04/20/22 CNY 40.12
ALTAY PREFECTURE STATE-OW 4.85 01/22/23 CNY 60.70
ALTAY PREFECTURE STATE-OW 4.85 01/22/23 CNY 59.30
AN SHUN YU KUN REAL ESTAT 5.48 11/10/21 CNY 69.32
ANHUI FOREIGN ECONOMIC CO 7.30 07/13/21 CNY 70.01
ANHUI JIANGNAN INDUSTRIAL 4.76 07/08/23 CNY 59.01
ANHUI JIANGNAN INDUSTRIAL 4.76 07/08/23 CNY 58.93
ANHUI PINGTIANHU INVESTME 7.40 10/23/20 CNY 20.08
ANHUI PINGTIANHU INVESTME 7.40 10/23/20 CNY 19.60
ANHUI PROVINCE TONGLING I 7.30 05/13/21 CNY 27.18
ANHUI PROVINCE TONGLING I 7.30 05/13/21 CNY 20.32
ANJI COUNTY STATE-OWNED C 8.30 04/24/21 CNY 24.57
ANJI COUNTY STATE-OWNED C 8.30 04/24/21 CNY 20.65
ANJI NORTHWEST DEVELOPMEN 5.90 07/18/23 CNY 59.63
ANLU CONSTRUCTION DEVELOP 5.45 06/15/23 CNY 60.83
ANLU CONSTRUCTION DEVELOP 5.45 06/15/23 CNY 60.82
ANQING ECONOMIC&TECHNOLOG 4.09 03/09/23 CNY 60.02
ANQING ECONOMIC&TECHNOLOG 4.09 03/09/23 CNY 58.79
ANQING URBAN CONSTRUCTION 6.01 04/27/22 CNY 41.14
ANQING URBAN CONSTRUCTION 6.01 04/27/22 CNY 40.00
ANSHUN STATE-RUN ASSETS M 4.48 07/18/23 CNY 56.50
BAOJI HI-TECH INDUSTRIAL 8.25 04/21/21 CNY 20.38
BAOJI HI-TECH INDUSTRIAL 8.25 04/21/21 CNY 20.00
BAOTOU CITY SCIENCE EDUCA 6.48 03/25/22 CNY 45.50
BAOTOU CITY SCIENCE EDUCA 6.48 03/25/22 CNY 41.45
BAOYING CITY CONSTRUCTION 4.50 03/24/23 CNY 60.47
BAOYING CITY CONSTRUCTION 4.50 03/24/23 CNY 60.32
BAYAN ZHUOER HETAO WATER 8.54 03/31/22 CNY 31.30
BAZHONG STATE-OWNED ASSET 5.13 12/02/22 CNY 60.00
BAZHONG STATE-OWNED ASSET 5.13 12/02/22 CNY 58.54
BAZHONG STATE-OWNED ASSET 8.50 04/25/21 CNY 21.20
BAZHONG STATE-OWNED ASSET 8.50 04/25/21 CNY 20.70
BEIJING BIOMEDICINE INDUS 6.35 07/23/20 CNY 20.40
BEIJING BIOMEDICINE INDUS 6.35 07/23/20 CNY 19.99
BEIJING CAPITAL DEVELOPME 6.50 02/27/21 CNY 20.83
BEIJING CAPITAL DEVELOPME 6.50 02/27/21 CNY 20.39
BEIJING CAPITAL DEVELOPME 7.19 01/15/21 CNY 20.33
BEIJING CAPITAL DEVELOPME 7.19 01/15/21 CNY 20.00
BEIJING CHANGXIN CONSTRUC 6.74 04/22/21 CNY 20.49
BEIJING CHANGXIN CONSTRUC 6.74 04/22/21 CNY 20.41
BEIJING FUTURE SCIENCE PA 4.20 08/13/22 CNY 60.45
BEIJING GUCAI GROUP CO LT 6.60 09/06/20 CNY 23.68
BEIJING GUCAI GROUP CO LT 6.60 09/06/20 CNY 20.12
BEIJING HAIDIAN STATE-OWN 5.50 08/07/20 CNY 20.01
BEIJING HAIDIAN STATE-OWN 5.50 08/07/20 CNY 20.01
BEIJING JINGMEI GROUP CO 6.14 09/09/20 CNY 20.27
BEIJING JINGMEI GROUP CO 6.14 09/09/20 CNY 20.05
BEIJING JINLIYUAN STATE-O 7.00 10/28/20 CNY 20.11
BEIJING JINLIYUAN STATE-O 7.00 10/28/20 CNY 20.00
BEIJING SHIJINGSHAN STATE 6.08 08/18/21 CNY 43.87
BEIJING SHIJINGSHAN STATE 6.08 08/18/21 CNY 40.51
BEIJING XINCHENG INFRASTR 7.50 04/21/21 CNY 20.61
BEIJING XINGZHAN INVESTME 6.66 04/24/21 CNY 20.40
BEIJING XINGZHAN INVESTME 6.66 04/24/21 CNY 20.00
BEIPIAO CITY CONSTRUCTION 6.70 03/25/23 CNY 62.03
BEIPIAO CITY CONSTRUCTION 6.70 03/25/23 CNY 52.22
BENGBU GAOXIN INVESTMENT 8.70 04/17/21 CNY 20.44
BENGBU GAOXIN INVESTMENT 8.70 04/17/21 CNY 20.00
BENXI URBAN CONSTRUCTION 6.24 01/22/22 CNY 40.02
BENXI URBAN CONSTRUCTION 6.24 01/22/22 CNY 40.00
BIJIE CONSTRUCTION INVEST 6.50 01/28/22 CNY 45.65
BIJIE CONSTRUCTION INVEST 6.50 01/28/22 CNY 41.30
BIJIE KAIYUAN CONSTRUCTIO 7.78 02/25/21 CNY 30.00
BIJIE KAIYUAN CONSTRUCTIO 7.78 02/25/21 CNY 20.31
BINZHOU HI-TECH DEVELOPME 8.60 01/10/21 CNY 23.40
BINZHOU HI-TECH DEVELOPME 8.60 01/10/21 CNY 20.26
BINZHOU ZHONGHAI VENTURE 6.65 04/13/22 CNY 40.47
BINZHOU ZHONGHAI VENTURE 6.65 04/13/22 CNY 40.00
BORALA MONGOL AUTONOMOUS 5.77 08/26/22 CNY 60.42
BORALA MONGOL AUTONOMOUS 5.77 08/26/22 CNY 59.00
BORALA MONGOL AUTONOMOUS 7.18 08/09/20 CNY 20.02
BORALA MONGOL AUTONOMOUS 7.18 08/09/20 CNY 19.90
BOZHOU URBAN CONSTRUCTION 4.78 04/14/23 CNY 60.62
BOZHOU URBAN CONSTRUCTION 4.78 04/14/23 CNY 60.50
CANGNAN COUNTY STATE OWNE 5.58 11/11/22 CNY 68.00
CANGNAN COUNTY STATE OWNE 5.58 11/11/22 CNY 60.85
CEFC SHANGHAI INTERNATION 4.98 12/10/20 CNY 61.29
CEFC SHANGHAI INTERNATION 4.08 09/09/21 CNY 60.00
CHANG DE DING LI INDUSTRY 4.30 03/10/23 CNY 60.19
CHANG DE DING LI INDUSTRY 4.30 03/10/23 CNY 59.93
CHANGCHUN MODERN AGRICULT 7.00 07/25/21 CNY 40.21
CHANGDE ECONOMIC CONSTRUC 7.00 03/24/21 CNY 21.40
CHANGDE ECONOMIC CONSTRUC 7.00 03/24/21 CNY 20.47
CHANGDE URBAN CONSTRUCTIO 3.59 01/12/23 CNY 60.00
CHANGDE URBAN CONSTRUCTIO 3.59 01/12/23 CNY 59.87
CHANGLE COUNTY NEWTOWN DE 5.18 12/16/22 CNY 62.03
CHANGLE COUNTY NEWTOWN DE 5.18 12/16/22 CNY 59.78
CHANGSHA COUNTY XINGCHENG 7.90 03/25/22 CNY 41.86
CHANGSHA COUNTY XINGCHENG 7.90 03/25/22 CNY 41.80
CHANGSHA ECONOMIC & TECHN 8.45 04/13/22 CNY 30.93
CHANGSHA FURONG CITY DEVE 3.88 01/26/23 CNY 60.67
CHANGSHA FURONG CITY DEVE 3.88 01/26/23 CNY 60.30
CHANGSHA METRO GROUP CO L 5.97 04/03/25 CNY 72.69
CHANGSHA METRO GROUP CO L 5.40 07/14/25 CNY 71.74
CHANGSHA METRO GROUP CO L 5.40 07/14/25 CNY 70.00
CHANGSHA METRO GROUP CO L 6.20 04/23/23 CNY 46.65
CHANGSHA TIANXIN CITY CON 4.20 11/06/22 CNY 60.10
CHANGSHA TIANXIN CITY CON 4.20 11/06/22 CNY 59.96
CHANGSHA YUHUA URBAN CONS 3.80 01/28/23 CNY 60.17
CHANGSHA YUHUA URBAN CONS 3.80 01/28/23 CNY 59.77
CHANGSHA YUHUA URBAN CONS 7.17 04/18/21 CNY 24.00
CHANGSHA YUHUA URBAN CONS 7.17 04/18/21 CNY 20.55
CHANGSHU BINJIANG URBAN C 6.39 09/11/21 CNY 40.60
CHANGSHU BINJIANG URBAN C 6.39 09/11/21 CNY 40.00
CHANGSHU DONGNAN ASSET IN 6.53 03/26/22 CNY 47.32
CHANGSHU DONGNAN ASSET IN 6.53 03/26/22 CNY 41.10
CHANGSHU TRANSPORTATION S 7.00 04/29/21 CNY 27.00
CHANGSHU TRANSPORTATION S 7.00 04/29/21 CNY 20.57
CHANGXING COMMUNICATIONS 7.88 04/30/21 CNY 30.30
CHANGXING COMMUNICATIONS 6.75 06/16/21 CNY 20.70
CHANGXING COMMUNICATIONS 7.88 04/30/21 CNY 20.55
CHANGXING COMMUNICATIONS 6.75 06/16/21 CNY 19.94
CHANGXING URBAN CONSTRUCT 6.00 12/03/21 CNY 40.45
CHANGXING URBAN CONSTRUCT 6.00 12/03/21 CNY 39.00
CHANGZHOU BINHU CONSTRUCT 8.04 12/12/20 CNY 20.34
CHANGZHOU BINHU CONSTRUCT 8.04 12/12/20 CNY 20.30
CHANGZHOU PUBLIC HOUSING 6.64 07/02/21 CNY 20.20
CHANGZHOU PUBLIC HOUSING 6.64 07/02/21 CNY 20.19
CHANGZHOU TIANNING CONSTR 6.48 02/12/22 CNY 41.01
CHANGZHOU TIANNING CONSTR 6.48 02/12/22 CNY 40.00
CHAOHU URBAN TOWN CONSTRU 6.50 04/30/22 CNY 42.10
CHAOHU URBAN TOWN CONSTRU 6.50 04/30/22 CNY 41.16
CHENGDU ECONOMIC & TECHNO 6.90 05/30/21 CNY 26.00
CHENGDU ECONOMIC & TECHNO 6.90 05/30/21 CNY 20.49
CHENGDU GARDEN WATER CITY 6.15 05/03/23 CNY 60.42
CHENGDU GARDEN WATER CITY 6.15 05/03/23 CNY 60.04
CHENGDU KONGGANG CITY CON 6.92 07/30/20 CNY 25.05
CHENGDU KONGGANG CITY CON 6.92 07/30/20 CNY 25.00
CHENGDU LONGBO INVESTMENT 8.10 04/24/21 CNY 20.46
CHENGDU PIDU DISTRICT STA 6.95 04/01/22 CNY 48.83
CHENGDU PIDU DISTRICT STA 6.95 04/01/22 CNY 41.44
CHENGDU PIDU DISTRICT STA 7.25 10/15/20 CNY 20.11
CHENGDU SHUZHOU CITY CONS 6.58 05/26/22 CNY 40.74
CHENGDU SHUZHOU CITY CONS 6.58 05/26/22 CNY 39.30
CHENGDU XINGCHENGJIAN IND 6.00 03/20/22 CNY 40.92
CHENGDU XINGCHENGJIAN IND 6.00 03/20/22 CNY 40.00
CHENGDU XINKAIYUAN URBAN 5.29 04/27/23 CNY 59.92
CHENGDU XINKAIYUAN URBAN 5.29 04/27/23 CNY 59.58
CHENGDU XINKAIYUAN URBAN 7.43 08/12/21 CNY 41.00
CHENGDU XINKAIYUAN URBAN 7.43 08/12/21 CNY 40.60
CHENGFA INVESTMENT GROUP 6.87 04/30/21 CNY 20.52
CHENZHOU BAIFU INVESTMENT 4.96 03/22/26 CNY 73.33
CHENZHOU BAIFU INVESTMENT 6.54 08/28/21 CNY 40.25
CHENZHOU BAIFU INVESTMENT 6.54 08/28/21 CNY 40.12
CHENZHOU FUCHENG HIGH TEC 4.73 01/22/23 CNY 59.82
CHENZHOU FUCHENG HIGH TEC 4.73 01/22/23 CNY 59.80
CHENZHOU INDUSTRY INVESTM 6.45 01/23/22 CNY 40.36
CHENZHOU XINTIAN INVESTME 5.38 03/08/26 CNY 73.87
CHENZHOU XINTIAN INVESTME 5.38 03/08/26 CNY 73.12
CHENZHOU XINTIAN INVESTME 6.15 04/24/22 CNY 39.78
CHINA MINSHENG INVESTMENT 7.00 12/26/20 CNY 36.65
CHINA OCEANWIDE HOLDINGS 8.60 09/21/21 CNY 68.00
CHINA OCEANWIDE HOLDINGS 8.90 12/13/21 CNY 63.00
CHINA SECURITY CO LTD 4.45 11/11/19 CNY 31.00
CHINA YIXING ENVIRONMENT 7.10 10/18/20 CNY 20.40
CHINA YIXING ENVIRONMENT 7.10 10/18/20 CNY 20.14
CHONGQIN BAIYAN INVESTMEN 5.75 05/03/23 CNY 61.50
CHONGQIN BAIYAN INVESTMEN 5.75 05/03/23 CNY 60.47
CHONGQIN XINLIANG INVESTM 4.76 08/26/23 CNY 56.48
CHONGQIN XINLIANG INVESTM 4.76 08/26/23 CNY 56.41
CHONGQING BANAN ECONOMIC 7.00 08/20/21 CNY 41.10
CHONGQING BANAN ECONOMIC 6.17 03/13/22 CNY 41.00
CHONGQING BANAN ECONOMIC 6.17 03/13/22 CNY 40.77
CHONGQING BANAN ECONOMIC 7.00 08/20/21 CNY 40.73
CHONGQING BEICHENG CONSTR 7.30 10/16/20 CNY 20.30
CHONGQING BEICHENG CONSTR 7.30 10/16/20 CNY 20.15
CHONGQING BISHAN DISTRICT 4.93 03/29/23 CNY 60.52
CHONGQING BISHAN DISTRICT 4.93 03/29/23 CNY 60.16
CHONGQING CHANGSHOU ECO&T 7.20 07/15/21 CNY 20.34
CHONGQING CHANGSHOU ECO&T 7.20 07/15/21 CNY 20.00
CHONGQING CHANGSHOU ECO-T 7.10 06/19/21 CNY 20.29
CHONGQING CHANGSHOU ECO-T 7.10 06/19/21 CNY 20.00
CHONGQING DASUN ASSET DEA 6.98 09/10/20 CNY 20.07
CHONGQING DAZU INDUSTRIAL 6.30 04/28/22 CNY 40.38
CHONGQING DAZU INDUSTRIAL 6.30 04/28/22 CNY 40.00
CHONGQING ECO&TECH DEVELO 3.95 04/13/23 CNY 60.80
CHONGQING ECO&TECH DEVELO 3.95 04/13/23 CNY 60.13
CHONGQING FULING DISTRICT 7.89 03/20/21 CNY 27.33
CHONGQING FULING DISTRICT 7.89 03/20/21 CNY 20.42
CHONGQING FULING TRAFFIC 6.68 02/03/22 CNY 40.66
CHONGQING FULING TRAFFIC 6.68 02/03/22 CNY 40.00
CHONGQING GAOXIN ZONE DEV 7.80 04/25/21 CNY 30.80
CHONGQING GAOXIN ZONE DEV 7.80 04/25/21 CNY 20.58
CHONGQING GARDENING INDUS 8.45 06/03/21 CNY 20.63
CHONGQING GARDENING INDUS 8.45 06/03/21 CNY 20.00
CHONGQING HAOJIANG CONSTR 8.05 03/06/21 CNY 20.24
CHONGQING HAOJIANG CONSTR 7.99 11/22/20 CNY 20.16
CHONGQING HAOJIANG CONSTR 8.05 03/06/21 CNY 20.00
CHONGQING HAOJIANG CONSTR 7.99 11/22/20 CNY 20.00
CHONGQING HECHUAN CITY CO 7.30 07/07/21 CNY 21.00
CHONGQING HECHUAN CITY CO 7.30 07/07/21 CNY 20.70
CHONGQING INTERNATIONAL L 7.08 10/18/20 CNY 20.29
CHONGQING INTERNATIONAL L 7.08 10/18/20 CNY 20.13
CHONGQING JIANGBEIZUI CEN 6.50 07/21/21 CNY 20.51
CHONGQING JIN TONG INDUST 4.44 11/16/23 CNY 74.76
CHONGQING JINYUN ASSET MA 4.50 12/31/22 CNY 60.04
CHONGQING JINYUN ASSET MA 4.50 12/31/22 CNY 60.01
CHONGQING JIULONG HI-TECH 6.60 08/19/21 CNY 40.55
CHONGQING KAIQIAN INVESTM 4.64 03/21/23 CNY 58.88
CHONGQING KAIQIAN INVESTM 4.64 03/21/23 CNY 58.76
CHONGQING LAND PROPERTIES 3.36 03/21/23 CNY 60.57
CHONGQING LAND PROPERTIES 3.36 03/21/23 CNY 60.10
CHONGQING LAND PROPERTIES 6.30 08/22/20 CNY 20.06
CHONGQING LAND PROPERTIES 6.30 08/22/20 CNY 20.00
CHONGQING LIANGJIANG NEW 3.10 08/05/21 CNY 70.10
CHONGQING LIANGJIANG NEW 5.88 09/16/21 CNY 40.73
CHONGQING LIANGJIANG NEW 3.60 04/19/21 CNY 40.60
CHONGQING LIANGJIANG NEW 3.60 04/19/21 CNY 40.14
CHONGQING LIANGJIANG NEW 3.17 01/13/21 CNY 40.05
CHONGQING LIANGJIANG NEW 3.17 01/13/21 CNY 40.00
CHONGQING LIANGJIANG NEW 6.70 04/25/21 CNY 20.56
CHONGQING MAIRUI URBAN CO 4.95 04/21/23 CNY 60.99
CHONGQING MAIRUI URBAN CO 4.95 04/21/23 CNY 60.44
CHONGQING NANCHUAN CITY C 4.20 07/11/23 CNY 59.90
CHONGQING NANCHUAN CITY C 4.20 07/11/23 CNY 59.23
CHONGQING QIANJIANG CITY 8.00 03/21/21 CNY 21.70
CHONGQING QIANJIANG CITY 8.00 03/21/21 CNY 20.25
CHONGQING SHUANGFU CONSTR 7.49 10/23/20 CNY 20.15
CHONGQING SHUANGFU CONSTR 7.49 10/23/20 CNY 20.00
CHONGQING SHUANGQIAO ECON 5.99 11/19/21 CNY 46.25
CHONGQING SHUANGQIAO ECON 5.99 11/19/21 CNY 39.69
CHONGQING TAX FREE PORT A 7.50 04/24/21 CNY 21.70
CHONGQING TAX FREE PORT A 7.50 04/24/21 CNY 20.47
CHONGQING TEA GARDEN INDU 7.70 05/20/21 CNY 20.34
CHONGQING TONGLIANG JINLO 6.59 04/08/22 CNY 40.67
CHONGQING TONGLIANG JINLO 6.59 04/08/22 CNY 40.00
CHONGQING TONGNAN DISTRIC 4.99 12/31/22 CNY 60.76
CHONGQING TONGNAN DISTRIC 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 40.22
CHONGQING WANSHENG ECO & 8.19 04/08/21 CNY 23.90
CHONGQING WANSHENG ECO & 8.19 04/08/21 CNY 20.33
CHONGQING WANSHENG ECO DE 5.40 11/18/21 CNY 69.73
CHONGQING WANZHOU SANXIA 4.95 08/25/22 CNY 60.66
CHONGQING XINGRONG HOLDIN 4.86 03/31/23 CNY 58.79
CHONGQING XINGRONG HOLDIN 4.86 03/31/23 CNY 58.50
CHONGQING XIYONG MICRO-EL 6.58 07/25/21 CNY 42.33
CHONGQING XIYONG MICRO-EL 6.58 07/25/21 CNY 40.63
CHONGQING YONGCHUAN HUITO 7.28 05/30/21 CNY 21.60
CHONGQING YONGCHUAN HUITO 7.28 05/30/21 CNY 20.65
CHONGQING YUELAI INVESTME 6.09 04/29/22 CNY 41.08
CHONGQING YUELAI INVESTME 6.09 04/29/22 CNY 40.00
CHONGQING YUNAN ASSET MAN 7.05 06/17/21 CNY 20.76
CHONGQING YUNAN ASSET MAN 7.05 06/17/21 CNY 20.39
CHONGQING YUZHONG STATE-O 7.25 02/26/21 CNY 20.57
CHONGQING YUZHONG STATE-O 7.25 02/26/21 CNY 20.38
CHUN'AN XINANJIANG DEVELO 6.10 03/11/22 CNY 44.55
CHUN'AN XINANJIANG DEVELO 6.10 03/11/22 CNY 40.85
CHUZHOU CITY CONSTRUCTION 6.40 08/22/21 CNY 40.71
CITIC GUOAN GROUP CORP 4.49 03/08/21 CNY 18.25
CITIC GUOAN GROUP CORP 4.23 12/15/20 CNY 18.25
CITIC GUOAN GROUP CORP 5.80 12/15/19 CNY 18.25
CITIC GUOAN GROUP CORP 4.90 11/06/19 CNY 18.25
CIXI CITY CONSTRUCTION IN 6.18 08/18/21 CNY 48.80
CIXI CITY CONSTRUCTION IN 6.18 08/18/21 CNY 40.59
DALI ECONOMIC DEVELOPMENT 8.30 12/11/20 CNY 20.60
DALI ECONOMIC DEVELOPMENT 8.30 12/11/20 CNY 20.27
DALI ECONOMIC DEVELOPMENT 7.90 03/04/21 CNY 20.26
DALI ECONOMIC DEVELOPMENT 7.90 03/04/21 CNY 20.00
DALI HAIDONG DEVELOPMENT 6.01 01/25/23 CNY 61.26
DALI HAIDONG DEVELOPMENT 6.01 01/25/23 CNY 59.82
DALIAN PULANDIAN CONSTRUC 3.80 01/25/23 CNY 58.42
DALIAN RONGDA INVESTMENT 5.69 12/05/21 CNY 40.53
DALIAN RONGQIANG INVESTME 7.92 04/14/21 CNY 20.35
DALIAN RONGQIANG INVESTME 7.92 04/14/21 CNY 20.35
DALIAN RONGQIANG INVESTME 8.60 01/20/21 CNY 20.30
DALIAN RONGQIANG INVESTME 8.60 01/20/21 CNY 20.30
DALIAN SHITAI CITY CONSTR 4.50 02/01/23 CNY 58.70
DALIAN SHITAI CITY CONSTR 4.50 02/01/23 CNY 57.73
DALIAN SHITAI CITY CONSTR 7.09 02/20/21 CNY 20.07
DANDONG PORT GROUP CO LTD 5.50 01/27/21 CNY 59.00
DANGTU COUNTY CONSTRUCTIO 5.38 08/10/22 CNY 61.40
DANGTU COUNTY CONSTRUCTIO 5.38 08/10/22 CNY 60.61
DANGYANG XINYUAN INVESTME 4.97 03/29/23 CNY 59.81
DANGYANG XINYUAN INVESTME 4.97 03/29/23 CNY 59.37
DANGYANG XINYUAN INVESTME 7.99 05/23/21 CNY 20.00
DANYANG HI-TECH INDUSTRY 6.40 04/24/22 CNY 40.00
DANYANG HI-TECH INDUSTRY 6.40 04/24/22 CNY 39.71
DANYANG INVESTMENT GROUP 3.99 01/25/23 CNY 59.51
DANYANG INVESTMENT GROUP 6.90 10/23/20 CNY 20.14
DATONG ECONOMIC CONSTRUCT 4.49 10/22/22 CNY 60.28
DAWA COUNTY CITY CONSTRUC 6.29 06/12/22 CNY 39.30
DAWA COUNTY CITY CONSTRUC 6.29 06/12/22 CNY 38.92
DAYE ZHENHENG CITY DEVELO 4.50 03/28/23 CNY 59.06
DAYE ZHENHENG CITY DEVELO 4.50 03/28/23 CNY 58.92
DAYE ZHENHENG CITY DEVELO 7.30 03/03/21 CNY 23.53
DAYE ZHENHENG CITY DEVELO 7.30 03/03/21 CNY 20.33
DAYE ZHENHENG CITY DEVELO 7.95 11/27/20 CNY 20.26
DAZHOU DEVELOPMENT HOLDIN 5.10 11/27/22 CNY 60.45
DAZHOU DEVELOPMENT HOLDIN 5.10 11/27/22 CNY 60.00
DAZHOU DEVELOPMENT HOLDIN 6.55 01/14/22 CNY 40.83
DAZHOU DEVELOPMENT HOLDIN 6.55 01/14/22 CNY 40.00
DEHONGZHOU HONGKANG INVES 6.68 01/23/22 CNY 40.33
DEHONGZHOU HONGKANG INVES 6.68 01/23/22 CNY 40.33
DEXING INVESTMENT HOLDING 5.99 03/21/23 CNY 60.58
DEXING INVESTMENT HOLDING 5.99 03/21/23 CNY 59.78
DEYANG ECONOMIC DEVELOPME 7.90 04/28/21 CNY 28.26
DEYANG ECONOMIC DEVELOPME 7.90 04/28/21 CNY 20.34
DONGLING GROUP INC CO 8.00 07/14/22 CNY 41.26
DONGLING GROUP INC CO 8.00 07/14/22 CNY 40.00
DONGTAI UBAN CONSTRUCTION 7.58 04/23/21 CNY 28.48
DONGTAI UBAN CONSTRUCTION 7.58 04/23/21 CNY 20.52
DONGTAI UBAN CONSTRUCTION 8.65 01/13/21 CNY 20.35
DONGYING CITY URBAN ASSET 5.57 03/31/22 CNY 41.58
DONGYING CITY URBAN ASSET 5.57 03/31/22 CNY 40.61
DONGZHI COUNTY CITY OPERA 4.88 06/20/23 CNY 60.31
DONGZHI COUNTY CITY OPERA 4.88 06/20/23 CNY 60.27
DUJIANGYAN XINGYAN INVEST 6.10 03/12/22 CNY 39.46
DUNYUN STATE-OWNED ASSETS 6.60 12/28/22 CNY 59.10
EASTAR HOLDINGS GROUP CO 7.30 10/31/20 CNY 63.00
ENSHI URBAN CONSTRUCTION 7.50 06/03/21 CNY 27.54
ENSHI URBAN CONSTRUCTION 7.50 06/03/21 CNY 20.52
EZHOU CITY CONSTRUCTION I 6.68 09/19/21 CNY 41.00
EZHOU CITY CONSTRUCTION I 6.68 09/19/21 CNY 40.22
EZHOU CITY CONSTRUCTION I 7.76 05/15/21 CNY 26.50
EZHOU CITY CONSTRUCTION I 7.76 05/15/21 CNY 20.65
FANGCHENGGANG GANGFA HOLD 8.09 04/16/21 CNY 22.00
FANGCHENGGANG GANGFA HOLD 8.09 04/16/21 CNY 20.44
FEICHENG CITY ASSETS MANA 4.04 03/23/23 CNY 59.48
FEICHENG CITY ASSETS MANA 4.04 03/23/23 CNY 59.42
FEIXI COUNTY URBAN & RURA 4.45 06/03/23 CNY 61.24
FEIXI COUNTY URBAN & RURA 4.45 06/03/23 CNY 60.42
FENG COUNTY ECONOMIC DEVE 5.18 06/21/23 CNY 59.40
FENG COUNTY ECONOMIC DEVE 5.18 06/21/23 CNY 58.77
FENGCHENG CITY CONSTRUCTI 6.49 02/10/22 CNY 44.49
FENGCHENG CITY CONSTRUCTI 6.49 02/10/22 CNY 41.02
FENGCHENG CITY MODERN IND 5.76 12/17/22 CNY 60.00
FENGCHENG CITY MODERN IND 5.76 12/17/22 CNY 59.35
FENGXIAN URBAN INVESTMENT 4.23 07/13/21 CNY 54.79
FENGXIAN URBAN INVESTMENT 6.48 03/20/22 CNY 40.33
FENGXIAN URBAN INVESTMENT 6.48 03/20/22 CNY 40.00
FENGXIAN URBAN INVESTMENT 4.23 07/13/21 CNY 19.73
FUGU COUNTY STATE-OWNED A 8.69 12/16/20 CNY 20.24
FUGUINIAO CO LTD 6.30 04/22/20 CNY 13.00
FUJIAN JINJIANG INDUSTRIA 7.08 06/27/21 CNY 20.65
FUJIAN JINJIANG INDUSTRIA 7.08 06/27/21 CNY 20.55
FUJIAN PROVINCE LIANJIANG 6.29 04/30/22 CNY 40.53
FUJIAN PROVINCE LIANJIANG 6.29 04/30/22 CNY 40.00
FUJIAN ZHANGLONG GROUP CO 4.99 08/07/22 CNY 60.74
FUJIAN ZHANGLONG GROUP CO 4.99 08/07/22 CNY 60.00
FUNING URBAN INVESTMENT D 7.19 08/15/21 CNY 41.15
FUNING URBAN INVESTMENT D 7.19 08/15/21 CNY 40.50
FUQING CITY STATE-OWNED A 5.94 11/26/22 CNY 56.18
FUQING CITY STATE-OWNED A 6.66 03/01/21 CNY 25.18
FUXIN INFRASTRUCTURE CONS 6.18 03/18/22 CNY 40.39
FUXIN INFRASTRUCTURE CONS 6.18 03/18/22 CNY 40.03
FUZHOU CHANGLE DISTRICT S 4.50 04/11/23 CNY 59.95
FUZHOU CHANGLE DISTRICT S 4.50 04/11/23 CNY 58.80
FUZHOU LINCHUAN URBAN CON 5.68 07/05/23 CNY 61.34
FUZHOU LINCHUAN URBAN CON 5.68 07/05/23 CNY 61.04
FUZHOU URBAN AND RURAL CO 5.48 01/26/22 CNY 40.67
FUZHOU URBAN AND RURAL CO 4.89 07/08/22 CNY 40.57
FUZHOU URBAN AND RURAL CO 4.89 07/08/22 CNY 40.55
FUZHOU URBAN AND RURAL CO 5.48 01/26/22 CNY 40.00
GANZHOU CITY DEVELOPMENT 5.50 06/16/22 CNY 40.93
GANZHOU CITY DEVELOPMENT 5.50 06/16/22 CNY 40.00
GANZHOU DEVELOPMENT ZONE 7.43 02/19/21 CNY 20.27
GANZHOU DEVELOPMENT ZONE 7.43 02/19/21 CNY 19.00
GAOMI STATE-OWNED ASSETS 4.69 01/26/23 CNY 60.68
GAOMI STATE-OWNED ASSETS 4.69 01/26/23 CNY 60.08
GAOYOU CITY CONSTRUCTION 5.48 09/15/22 CNY 60.78
GAOYOU CITY CONSTRUCTION 5.48 09/15/22 CNY 60.00
GOLMUD INVESTMENT HOLDING 8.70 12/30/20 CNY 20.26
GOLMUD INVESTMENT HOLDING 8.70 12/30/20 CNY 20.00
GONGQINGCHENG FINANCIAL M 5.85 03/25/23 CNY 61.13
GONGQINGCHENG FINANCIAL M 5.85 03/25/23 CNY 58.93
GOOCOO INVESTMENT CO LTD 8.00 02/01/21 CNY 50.00
GUANGAN DEVELOPMENT AND C 6.39 03/24/22 CNY 44.00
GUANGAN DEVELOPMENT AND C 6.39 03/24/22 CNY 41.21
GUANGAN ECONOMIC & TECHNO 5.16 04/14/23 CNY 59.56
GUANGAN ECONOMIC & TECHNO 5.16 04/14/23 CNY 59.35
GUANGAN ECONOMIC & TECHNO 7.10 09/22/21 CNY 40.34
GUANGAN ECONOMIC & TECHNO 7.10 09/22/21 CNY 40.34
GUANGDONG HUIZHOU COMMUNI 4.16 05/17/23 CNY 60.30
GUANGDONG HUIZHOU COMMUNI 4.16 05/17/23 CNY 60.06
GUANGXI BAISE DEVELOPMENT 7.27 06/20/21 CNY 20.10
GUANGXI BAISE DEVELOPMENT 7.27 06/20/21 CNY 20.00
GUANGXI LAIBIN INDUSTRIAL 5.97 11/26/21 CNY 40.59
GUANGXI LAIBIN INDUSTRIAL 5.97 11/26/21 CNY 40.00
GUANGXI LIUZHOU DONGCHENG 7.40 10/29/20 CNY 21.00
GUANGXI LIUZHOU DONGCHENG 7.40 10/29/20 CNY 20.16
GUANGXI QINZHOU LINHAI IN 7.68 02/20/21 CNY 24.77
GUANGXI QINZHOU LINHAI IN 7.68 02/20/21 CNY 20.25
GUANGXI URBAN CONSTRUCTIO 7.59 04/14/21 CNY 23.00
GUANGXI URBAN CONSTRUCTIO 7.59 04/14/21 CNY 20.45
GUANGYUAN INVESTMENT HOLD 7.30 04/22/21 CNY 21.15
GUANGYUAN INVESTMENT HOLD 7.30 04/22/21 CNY 20.44
GUANGYUAN YUANQU CONSTRUC 4.48 03/10/23 CNY 59.17
GUANGYUAN YUANQU CONSTRUC 4.48 03/10/23 CNY 59.16
GUANGYUAN YUANQU CONSTRUC 8.35 08/26/21 CNY 47.00
GUANGYUAN YUANQU CONSTRUC 8.35 08/26/21 CNY 40.99
GUANGZHOU HUANTOU NANSHA 6.38 11/18/24 CNY 73.48
GUANGZHOU HUANTOU NANSHA 6.38 11/18/24 CNY 72.93
GUANGZHOU METRO GROUP CO 6.45 04/02/24 CNY 63.07
GUANGZHOU METRO GROUP CO 6.05 06/03/24 CNY 62.87
GUANGZHOU METRO GROUP CO 6.45 04/02/24 CNY 60.00
GUILIN CITY INVESTMENT AN 6.90 06/13/21 CNY 20.39
GUILIN CITY INVESTMENT AN 6.90 06/13/21 CNY 20.00
GUILIN ECONOMIC CONSTRUCT 5.60 04/22/22 CNY 40.90
GUILIN ECONOMIC CONSTRUCT 5.60 04/22/22 CNY 40.00
GUIRENNIAO CO LTD 7.00 12/03/19 CNY 49.50
GUIYANG BAIYUN INDUSTRY D 7.30 03/27/22 CNY 45.00
GUIYANG BAIYUN INDUSTRY D 7.30 03/27/22 CNY 40.51
GUIYANG GUANSHANHU DISTRI 4.87 01/28/23 CNY 59.26
GUIYANG GUANSHANHU DISTRI 4.48 03/09/23 CNY 58.89
GUIYANG GUANSHANHU DISTRI 4.87 01/28/23 CNY 58.87
GUIYANG GUANSHANHU DISTRI 4.48 03/09/23 CNY 58.40
GUIYANG URBAN CONSTRUCTIO 5.23 12/02/22 CNY 60.90
GUIYANG URBAN CONSTRUCTIO 5.23 12/02/22 CNY 60.00
GUIZHOU EAST LAKE CITY CO 5.18 01/06/23 CNY 60.72
GUIZHOU EAST LAKE CITY CO 5.18 01/06/23 CNY 58.09
GUIZHOU FANJINGSHAN INVES 6.95 01/28/22 CNY 41.21
GUIZHOU FANJINGSHAN INVES 6.95 01/28/22 CNY 40.00
GUIZHOU GUIAN CONSTRUCTIO 4.17 10/28/22 CNY 61.00
GUIZHOU GUIAN CONSTRUCTIO 4.17 10/28/22 CNY 60.20
GUIZHOU GUILONG INDUSTRIA 7.80 04/28/22 CNY 51.28
GUIZHOU GUILONG INDUSTRIA 7.80 04/28/22 CNY 49.65
GUIZHOU HONGCAI INVESTMEN 6.00 06/07/23 CNY 48.84
GUIZHOU HONGCAI INVESTMEN 6.00 06/07/23 CNY 48.41
GUIZHOU RAILWAY INVESTMEN 7.50 04/23/24 CNY 63.72
GUIZHOU RAILWAY INVESTMEN 7.20 03/27/22 CNY 41.50
GUIZHOU RAILWAY INVESTMEN 7.20 03/27/22 CNY 41.38
GUIZHOU SHUICHENG CITY IN 4.98 11/22/23 CNY 73.66
GUIZHOU SHUICHENG CITY IN 4.98 11/22/23 CNY 73.34
HAIAN COUNTY DEVELOPMENT 5.45 04/13/23 CNY 59.32
HAIAN COUNTY DEVELOPMENT 5.45 04/13/23 CNY 59.24
HAIAN URBAN DEMOLITION & 5.08 11/27/22 CNY 60.91
HAIAN URBAN DEMOLITION & 5.08 11/27/22 CNY 60.88
HAICHENG URBAN JINCAI LAN 8.56 12/19/20 CNY 20.22
HAICHENG URBAN JINCAI LAN 8.17 04/16/21 CNY 20.22
HAICHENG URBAN JINCAI LAN 8.17 04/16/21 CNY 20.10
HAICHENG URBAN JINCAI LAN 8.56 12/19/20 CNY 20.00
HAIFENG MARINE INFRASTRUC 6.84 04/29/22 CNY 40.63
HAIKOU MEILAN INTERNATION 5.25 09/06/19 USD 55.18
HAIMEN CITY DEVELOPMENT G 6.22 04/03/22 CNY 42.20
HAIMEN CITY DEVELOPMENT G 6.22 04/03/22 CNY 41.16
HAINING CITY DEVELOPMENT 5.58 10/22/21 CNY 40.67
HAINING CITY JIANSHAN DIS 6.90 11/04/20 CNY 21.42
HAINING CITY JIANSHAN DIS 6.90 11/04/20 CNY 20.18
HAIXI STATE-OWNED CAPITAL 8.60 01/02/21 CNY 20.30
HAIXI STATE-OWNED CAPITAL 8.60 01/02/21 CNY 20.30
HAIYAN COUNTY STATE-OWNED 7.00 09/04/20 CNY 20.20
HAIYAN COUNTY STATE-OWNED 7.00 09/04/20 CNY 20.07
HANDAN CONSTRUCTION & INV 5.48 05/27/22 CNY 47.20
HANDAN CONSTRUCTION & INV 5.48 05/27/22 CNY 40.73
HANGZHOU CITY CONSTRUCTIO 3.80 03/14/23 CNY 60.05
HANGZHOU CITY CONSTRUCTIO 3.80 03/14/23 CNY 60.00
HANGZHOU FUYANG CITY CONS 7.20 03/19/21 CNY 20.45
HANGZHOU FUYANG CITY CONS 7.20 03/19/21 CNY 20.45
HANGZHOU FUYANG DEVELOPME 4.76 01/27/23 CNY 60.12
HANGZHOU FUYANG DEVELOPME 4.76 01/27/23 CNY 59.16
HANGZHOU FUYANG DEVELOPME 7.70 04/28/21 CNY 29.00
HANGZHOU FUYANG DEVELOPME 7.70 04/28/21 CNY 20.57
HANGZHOU GONGSHU DISTRICT 6.90 07/21/21 CNY 40.40
HANGZHOU GONGSHU DISTRICT 6.90 07/21/21 CNY 20.67
HANGZHOU METRO GROUP CO L 5.97 09/17/24 CNY 72.89
HANGZHOU WEST LAKE INVEST 4.30 04/25/23 CNY 61.22
HANGZHOU WEST LAKE INVEST 4.30 04/25/23 CNY 60.62
HANGZHOU XIAOSHAN ECO&TEC 6.90 05/13/21 CNY 20.56
HANGZHOU XIAOSHAN QIANJIA 4.00 03/22/23 CNY 60.27
HANGZHOU XIAOSHAN QIANJIA 4.00 03/22/23 CNY 60.15
HANGZHOU YUHANG CITY CONS 7.00 03/03/21 CNY 20.49
HANGZHOU YUHANG CITY CONS 7.00 03/03/21 CNY 20.44
HANGZHOU YUHANG ECONOMIC 7.45 03/03/21 CNY 20.75
HANGZHOU YUHANG ECONOMIC 7.45 03/03/21 CNY 20.48
HANGZHOU YUHANG TRANSPORT 7.19 04/18/21 CNY 21.85
HANGZHOU YUHANG TRANSPORT 7.19 04/18/21 CNY 20.56
HANJIANG STATE-OWNED-ASSE 7.30 11/11/20 CNY 26.60
HANJIANG STATE-OWNED-ASSE 7.30 11/11/20 CNY 20.32
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 CONST 4.10 11/16/21 CNY 59.92
HEBEI ZHONGYUE CITY CONST 4.10 11/16/21 CNY 59.70
HEBI INVESTMENTS GROUP CO 7.88 08/01/21 CNY 40.99
HEBI INVESTMENTS GROUP CO 7.88 08/01/21 CNY 40.59
HECHI CITY CONSTRUCTION I 5.58 11/13/22 CNY 62.42
HECHI CITY CONSTRUCTION I 5.58 11/13/22 CNY 60.46
HEFEI CONSTRUCTION INVEST 7.20 04/29/24 CNY 64.27
HEFEI XINCHENG STATE-OWNE 4.13 07/15/23 CNY 59.36
HEFEI XINCHENG STATE-OWNE 4.13 07/15/23 CNY 59.10
HEILONGJIANG HECHENG CONS 5.60 11/11/21 CNY 40.22
HEILONGJIANG HECHENG CONS 5.60 11/11/21 CNY 40.00
HEILONGJIANG HECHENG CONS 7.05 06/21/22 CNY 30.93
HEILONGJIANG HECHENG CONS 7.05 06/21/22 CNY 30.80
HEILONGJIANG POST-DISASTE 7.10 11/19/20 CNY 25.22
HEILONGJIANG POST-DISASTE 7.10 11/19/20 CNY 18.55
HEILONGJIANG POST-DISASTE 7.06 11/20/20 CNY 6.81
HEILONGJIANG POST-DISASTE 7.06 11/20/20 CNY 6.74
HEISHAN TONGHE ASSET MANA 6.79 09/18/22 CNY 59.28
HEISHAN TONGHE ASSET MANA 6.79 09/18/22 CNY 59.05
HENGYANG BAISHAZHOU DEVEL 6.87 08/22/21 CNY 44.50
HENGYANG BAISHAZHOU DEVEL 6.87 08/22/21 CNY 40.10
HENGYANG COMMUNICATION IN 4.28 01/21/23 CNY 60.00
HENGYANG COMMUNICATION IN 4.28 01/21/23 CNY 59.75
HENGYANG XIANGJIANG WATER 7.40 04/23/21 CNY 21.10
HENGYANG XIANGJIANG WATER 7.40 04/23/21 CNY 20.39
HETIAN YUXIN STATE-OWNED 4.65 03/28/23 CNY 59.84
HETIAN YUXIN STATE-OWNED 4.65 03/28/23 CNY 59.67
HEYUAN CITY RUNYE INVESTM 6.20 12/03/21 CNY 45.88
HEYUAN CITY RUNYE INVESTM 6.20 12/03/21 CNY 40.68
HEZE INVESTMENT DEVELOPME 7.14 03/24/21 CNY 20.40
HEZHOU URBAN CONSTRUCTION 8.16 05/16/21 CNY 20.80
HEZHOU URBAN CONSTRUCTION 8.16 05/16/21 CNY 20.52
HNA GROUP CO LTD 7.10 04/15/20 CNY 70.00
HNA GROUP CO LTD 5.99 11/27/22 CNY 29.10
HUACHEN ENERGY CO LTD 6.63 05/18/20 USD 31.83
HUAIAN CITY HUAIAN DISTRI 4.63 05/03/23 CNY 64.10
HUAIAN CITY HUAIAN DISTRI 4.63 05/03/23 CNY 60.12
HUAIAN CITY URBAN ASSET O 5.70 04/23/22 CNY 41.54
HUAIAN CITY URBAN ASSET O 5.70 04/23/22 CNY 40.90
HUAIAN CITY XUYI URBAN AS 5.10 04/15/23 CNY 59.79
HUAIAN CITY XUYI URBAN AS 5.10 04/15/23 CNY 59.21
HUAI'AN DEVELOPMENT HOLDI 7.30 03/10/21 CNY 27.84
HUAI'AN DEVELOPMENT HOLDI 7.30 03/10/21 CNY 20.42
HUAIAN HONGRI TRANSPORTAT 5.09 04/20/23 CNY 58.85
HUAIAN HONGRI TRANSPORTAT 5.09 04/20/23 CNY 58.01
HUAIAN HONGZE DISTRICT UR 4.37 07/18/23 CNY 58.96
HUAI'AN NEW CITY INVESTME 6.95 07/28/21 CNY 47.50
HUAI'AN NEW CITY INVESTME 6.95 07/28/21 CNY 40.52
HUAI'AN NEW CITY INVESTME 7.45 03/04/21 CNY 20.33
HUAI'AN NEW CITY INVESTME 7.45 03/04/21 CNY 20.00
HUAIHUA CITY INDUSTRIAL P 7.70 10/29/20 CNY 20.11
HUAIHUA CITY INDUSTRIAL P 7.70 10/29/20 CNY 20.10
HUAIHUA ECONOMIC DEVELOPM 6.80 03/26/22 CNY 40.34
HUAIHUA ECONOMIC DEVELOPM 6.80 03/26/22 CNY 40.00
HUAIHUA TRANSPORTATION CO 4.96 04/12/23 CNY 59.65
HUAIHUA TRANSPORTATION CO 4.96 04/12/23 CNY 59.26
HUAINAN URBAN CONSTRUCTIO 6.79 07/09/21 CNY 21.65
HUAINAN URBAN CONSTRUCTIO 6.79 07/09/21 CNY 20.60
HUANGGANG CITY CONSTRUCTI 4.08 01/18/23 CNY 60.27
HUANGGANG CITY CONSTRUCTI 8.60 12/25/20 CNY 20.60
HUANGGANG CITY CONSTRUCTI 7.45 03/04/21 CNY 20.42
HUANGGANG CITY CONSTRUCTI 8.60 12/25/20 CNY 20.37
HUANGSHAN CHENGTOU GROUP 5.95 05/06/22 CNY 41.14
HUANGSHAN CHENGTOU GROUP 5.95 05/06/22 CNY 40.65
HUANGSHI CIHU HIGH-TECH D 4.50 06/08/23 CNY 63.00
HUANGSHI CIHU HIGH-TECH D 4.97 06/08/23 CNY 60.41
HUANGSHI CIHU HIGH-TECH D 4.50 06/08/23 CNY 60.17
HUANGSHI CIHU HIGH-TECH D 4.97 06/08/23 CNY 60.05
HUANGSHI CIHU HIGH-TECH D 9.30 01/21/21 CNY 20.44
HUANGSHI CIHU HIGH-TECH D 8.70 12/05/20 CNY 20.25
HUANGSHI URBAN CONSTRUCTI 5.99 04/29/22 CNY 41.29
HUANGSHI URBAN CONSTRUCTI 5.99 04/29/22 CNY 40.00
HUAWEN MEDIA GROUP 6.00 04/04/21 CNY 45.50
HUBEI PROVINCE CHANGJIANG 6.15 04/03/22 CNY 42.40
HUBEI PROVINCE CHANGJIANG 6.15 04/03/22 CNY 41.28
HULUDAO INVESTMENT GROUP 7.50 10/18/23 CNY 62.24
HULUDAO INVESTMENT GROUP 7.05 10/18/20 CNY 20.52
HULUDAO INVESTMENT GROUP 7.05 10/18/20 CNY 20.11
HULUNBEIER INVESTMENT CO 6.31 04/30/22 CNY 40.57
HULUNBEIER INVESTMENT CO 6.31 04/30/22 CNY 40.00
HUNAN CHANGDE DEYUAN INVE 6.50 06/16/21 CNY 22.25
HUNAN CHANGDE DEYUAN INVE 6.50 06/16/21 CNY 20.48
HUNAN CHUZHISHENG HOLDING 5.60 12/18/22 CNY 61.09
HUNAN CHUZHISHENG HOLDING 5.60 12/18/22 CNY 60.06
HUNAN JINYANG INVESTMENT 4.37 01/19/23 CNY 59.84
HUNAN JINYANG INVESTMENT 4.37 01/19/23 CNY 59.82
HUNAN JINYANG INVESTMENT 4.39 04/06/23 CNY 59.54
HUNAN JINYANG INVESTMENT 4.39 04/06/23 CNY 58.73
HUNAN JINYANG INVESTMENT 5.70 11/27/21 CNY 40.22
HUNAN JINYANG INVESTMENT 5.70 11/27/21 CNY 38.60
HUNAN LOUDI ECONOMIC & TE 4.89 03/30/23 CNY 56.50
HUNAN LOUDI ECONOMIC & TE 4.89 03/30/23 CNY 56.48
HUNAN LOUDI ECONOMIC & TE 6.36 03/13/22 CNY 47.00
HUNAN LOUDI ECONOMIC & TE 6.36 03/13/22 CNY 39.47
HUNAN PROVINCIAL RAILWAY 6.09 04/30/25 CNY 74.05
HUNAN PROVINCIAL RAILWAY 6.09 04/30/25 CNY 70.00
HUNAN SHAODONG ECO-INDUST 6.50 01/11/23 CNY 61.84
HUNAN SHAODONG ECO-INDUST 6.50 01/11/23 CNY 59.31
HUNAN TIER GROUP CO LTD 4.20 03/17/23 CNY 58.30
HUNAN TIER GROUP CO LTD 4.20 03/17/23 CNY 57.50
HUNAN TIER GROUP CO LTD 8.00 12/23/20 CNY 22.72
HUNAN TIER GROUP CO LTD 7.10 03/03/21 CNY 20.36
HUNAN TIER GROUP CO LTD 8.00 12/23/20 CNY 20.36
HUNAN TIER GROUP CO LTD 7.10 03/03/21 CNY 20.20
HUNAN XIANGJIANG NEW AREA 7.36 03/17/21 CNY 20.42
HUNAN XIANGJIANG NEW AREA 7.36 03/17/21 CNY 20.00
HUNAN YOUZHOU INVESTMENT 4.80 07/07/23 CNY 60.17
HUNAN YOUZHOU INVESTMENT 4.80 07/07/23 CNY 60.16
HUZHOU URBAN CONSTRUCTION 6.48 08/28/21 CNY 42.38
HUZHOU URBAN CONSTRUCTION 6.48 08/28/21 CNY 40.78
HUZHOU WUXING NANTAIHU CO 8.79 01/16/21 CNY 20.40
HUZHOU XISAISHAN DEVELOPM 7.80 04/29/21 CNY 20.38
HUZHOU XISAISHAN DEVELOPM 7.80 04/29/21 CNY 20.00
INNER MONGOLIA JINLONG IN 7.30 11/19/22 CNY 60.20
INNER MONGOLIA JINLONG IN 7.30 11/19/22 CNY 59.50
INNER MONGOLIA KE'ERQIN U 6.45 04/30/22 CNY 40.00
INNER MONGOLIA KE'ERQIN U 6.50 03/11/22 CNY 40.00
INNER MONGOLIA KE'ERQIN U 6.50 03/11/22 CNY 39.06
INNER MONGOLIA KE'ERQIN U 6.45 04/30/22 CNY 38.90
INNER MONGOLIA SHENGXIANG 8.18 08/21/21 CNY 44.00
INNER MONGOLIA SHENGXIANG 8.18 08/21/21 CNY 40.10
INNER MONGOLIA ZHUNGEER S 6.54 12/31/21 CNY 42.10
INNER MONGOLIA ZHUNGEER S 6.54 12/31/21 CNY 41.02
JIAN CITY JINGANGSHAN DEV 4.87 01/27/23 CNY 59.80
JIAN CITY JINGANGSHAN DEV 4.87 01/27/23 CNY 58.86
JIAN CITY JINGANGSHAN DEV 7.99 06/03/21 CNY 20.87
JIAN CITY JINGANGSHAN DEV 7.99 06/03/21 CNY 20.43
JIANAN INVESTMENT HOLDING 4.30 03/08/23 CNY 60.27
JIANAN INVESTMENT HOLDING 4.30 03/08/23 CNY 60.26
JIANAN INVESTMENT HOLDING 6.85 05/23/21 CNY 26.50
JIANAN INVESTMENT HOLDING 6.85 05/23/21 CNY 20.44
JIANGDONG HOLDING GROUP C 7.14 04/24/21 CNY 20.48
JIANGMEN NEW HI-TECH INDU 6.03 04/22/22 CNY 41.10
JIANGMEN NEW HI-TECH INDU 6.03 04/22/22 CNY 40.99
JIANGMEN NEW HI-TECH INDU 7.39 11/04/20 CNY 20.19
JIANGSU BEIGU INDUSTRIAL 5.80 06/20/23 CNY 61.28
JIANGSU BEIGU INDUSTRIAL 5.80 06/20/23 CNY 60.32
JIANGSU HAIZHOU DEVELOPME 4.67 06/06/23 CNY 61.51
JIANGSU HAIZHOU DEVELOPME 4.67 06/06/23 CNY 60.41
JIANGSU HAIZHOUWAN DEVELO 5.37 03/29/23 CNY 45.00
JIANGSU HANRUI INVESTMENT 4.63 04/15/23 CNY 61.00
JIANGSU HANRUI INVESTMENT 4.63 04/15/23 CNY 60.54
JIANGSU JINGUAN INVESTMEN 7.90 04/08/21 CNY 20.80
JIANGSU JINGUAN INVESTMEN 7.90 04/08/21 CNY 20.50
JIANGSU JINTAN GUOFA INTE 6.85 05/30/21 CNY 20.61
JIANGSU JINTAN GUOFA INTE 6.85 05/30/21 CNY 20.00
JIANGSU JURONG FUDI BIO-T 7.70 03/21/21 CNY 40.84
JIANGSU NANTONG NO2 CONST 8.10 07/10/21 CNY 20.22
JIANGSU NEWHEADLINE DEVEL 7.00 08/27/20 CNY 29.90
JIANGSU NEWHEADLINE DEVEL 7.00 08/27/20 CNY 25.06
JIANGSU RUNCHENG ASSET OP 7.88 04/16/21 CNY 28.80
JIANGSU RUNCHENG ASSET OP 7.88 04/16/21 CNY 20.49
JIANGSU RUNQI WANGUO INDU 4.14 10/21/21 CNY 59.88
JIANGSU RUNQI WANGUO INDU 4.14 10/21/21 CNY 58.98
JIANGSU SUHAI INVESTMENT 7.28 05/29/21 CNY 25.00
JIANGSU SUHAI INVESTMENT 7.28 05/29/21 CNY 20.34
JIANGSU TAICANG PORT DEVE 7.40 04/28/21 CNY 20.42
JIANGSU TAICANG PORT DEVE 7.40 04/28/21 CNY 20.00
JIANGSU WANGTAO INVESTMEN 6.82 09/15/20 CNY 26.10
JIANGSU WANGTAO INVESTMEN 6.82 09/15/20 CNY 25.07
JIANGSU WUZHONG ECONOMIC 5.49 11/19/21 CNY 40.69
JIANGSU WUZHONG ECONOMIC 5.49 11/19/21 CNY 40.32
JIANGSU XISHAN ECONOMIC D 5.78 07/20/22 CNY 40.91
JIANGSU YANGKOU PORT CONS 6.23 04/10/22 CNY 47.50
JIANGSU YANGKOU PORT CONS 6.23 04/10/22 CNY 40.78
JIANGSU YIXING ECONOMIC D 7.69 04/18/21 CNY 30.19
JIANGSU YIXING ECONOMIC D 7.69 04/18/21 CNY 20.51
JIANGSU ZHANGJIAGANG ECON 3.95 03/22/23 CNY 60.00
JIANGSU ZHANGJIAGANG ECON 3.95 03/22/23 CNY 59.99
JIANGSU ZHUFU INDUSTRIAL 4.47 07/20/23 CNY 58.33
JIANGSU ZHUFU INDUSTRIAL 4.93 12/29/20 CNY 40.18
JIANGXI HEJI INVESTMENT C 5.09 12/17/22 CNY 60.00
JIANGXI HEJI INVESTMENT C 5.09 12/17/22 CNY 59.62
JIANGXI HUIHENG PROPERTY 4.43 08/30/21 CNY 70.07
JIANGXI HUIHENG PROPERTY 4.43 08/30/21 CNY 69.59
JIANGXI LONGHU MOUNTAIN T 4.35 03/16/23 CNY 59.70
JIANGXI LONGHU MOUNTAIN T 4.35 03/16/23 CNY 59.37
JIANGXI PINGXIANG CHANGSH 8.18 05/22/21 CNY 29.34
JIANGXI PINGXIANG CHANGSH 8.18 05/22/21 CNY 20.45
JIANGXI PROVINCE SITONG R 8.20 04/18/21 CNY 20.56
JIANGXI PROVINCE SITONG R 8.20 04/18/21 CNY 20.56
JIANGYIN LINGANG NEW CITY 7.10 11/07/20 CNY 21.00
JIANGYIN LINGANG NEW CITY 7.10 11/07/20 CNY 20.15
JIANGYOU HONGFEI INVESTME 6.55 09/02/22 CNY 60.66
JIANGYOU HONGFEI INVESTME 6.55 09/02/22 CNY 60.31
JIANHU COUNTY DEVELOPMENT 7.29 09/25/21 CNY 42.75
JIANHU COUNTY DEVELOPMENT 7.29 09/25/21 CNY 40.47
JIANHU URBAN CONSTRUCTION 3.28 10/13/21 CNY 71.00
JIANHU URBAN CONSTRUCTION 3.28 10/13/21 CNY 69.27
JIANHU URBAN CONSTRUCTION 6.30 06/01/22 CNY 42.86
JIANHU URBAN CONSTRUCTION 6.30 06/01/22 CNY 39.81
JIAXING ECONOMIC&TECHNOLO 7.89 03/05/21 CNY 21.13
JIAXING ECONOMIC&TECHNOLO 7.89 03/05/21 CNY 20.30
JIAXING NANHU INVESTMENT 7.45 02/26/21 CNY 21.80
JIAXING NANHU INVESTMENT 7.45 02/26/21 CNY 20.55
JIAXING XIANGJIADANG DEVE 4.13 07/20/23 CNY 59.79
JIAYU COUNTY URBAN TOWN C 5.70 01/19/23 CNY 60.89
JIAYU COUNTY URBAN TOWN C 5.70 01/19/23 CNY 60.89
JIAYUGUAN CITY INFRASTRUC 7.83 09/23/21 CNY 40.47
JIAYUGUAN CITY INFRASTRUC 7.83 09/23/21 CNY 40.00
JIEYANGSHI CHENGSHI TOUZI 6.55 08/27/21 CNY 40.55
JILIN CITY CONSTRUCTION H 3.80 01/27/23 CNY 59.95
JILIN CITY CONSTRUCTION H 3.80 01/27/23 CNY 59.90
JILIN ECONOMIC AND TECHNO 6.20 04/29/23 CNY 60.54
JILIN ECONOMIC AND TECHNO 6.20 04/29/23 CNY 59.22
JILIN NORTHEAST SOCK INDU 7.50 05/19/22 CNY 71.71
JILIN NORTHEAST SOCK INDU 6.80 12/19/21 CNY 69.84
JILIN RAILWAY INVESTMENT 7.18 03/04/21 CNY 20.11
JINAN CITY CONSTRUCTION I 6.80 03/20/21 CNY 20.49
JINAN CITY CONSTRUCTION I 6.80 03/20/21 CNY 20.48
JINAN CITY LICHENG DISTRI 5.00 06/23/22 CNY 39.61
JINAN CITY LICHENG DISTRI 5.00 06/23/22 CNY 39.61
JINAN HI-TECH HOLDING GRO 6.38 06/19/21 CNY 20.37
JINCHANG CONSTRUCTION INV 6.79 12/21/22 CNY 60.60
JINCHANG CONSTRUCTION INV 6.79 12/21/22 CNY 60.00
JINCHENG STATE-OWNED CAPI 4.99 11/11/21 CNY 40.50
JINCHENG STATE-OWNED CAPI 4.99 11/11/21 CNY 40.34
JINGDE TAOCI CULTURAL TOU 5.38 11/27/22 CNY 60.04
JINGDE TAOCI CULTURAL TOU 5.38 11/27/22 CNY 60.00
JINGHONG STATE-OWNED ASSE 8.08 05/23/21 CNY 20.33
JINGHONG STATE-OWNED ASSE 8.08 05/23/21 CNY 20.00
JINGJIANG CITY INVESTMENT 4.55 03/30/23 CNY 59.58
JINGJIANG CITY INVESTMENT 4.55 03/30/23 CNY 59.52
JINGJIANG HARBOUR GROUP C 7.30 08/05/21 CNY 48.68
JINGJIANG HARBOUR GROUP C 7.30 08/05/21 CNY 40.14
JINGMEN CITY CONSTRUCTION 6.85 07/09/22 CNY 31.76
JINGMEN CITY CONSTRUCTION 6.85 07/09/22 CNY 30.99
JINGMEN CITY CONSTRUCTION 7.00 10/17/20 CNY 20.15
JINGMEN CITY CONSTRUCTION 7.00 10/17/20 CNY 18.57
JINGMEN DONGBAO DISTRICT 4.44 07/22/23 CNY 20.00
JINGMEN HIGH-TECH DEVELOP 5.48 08/11/22 CNY 60.70
JINGMEN HIGH-TECH DEVELOP 5.48 08/11/22 CNY 59.80
JINGZHOU DEVELOPMENT ZONE 8.20 12/09/20 CNY 21.80
JINGZHOU DEVELOPMENT ZONE 8.20 12/09/20 CNY 20.27
JINGZHOU URBAN CONSTRUCTI 3.97 03/10/23 CNY 59.96
JINGZHOU URBAN CONSTRUCTI 3.97 03/10/23 CNY 59.68
JINHU COUNTY STATE-OWNED 7.75 08/25/21 CNY 41.33
JINHU COUNTY STATE-OWNED 7.75 08/25/21 CNY 40.86
JINING CITY SHIZHONG DIST 6.39 01/29/22 CNY 44.44
JINING CITY SHIZHONG DIST 6.39 01/29/22 CNY 40.73
JINING HIGH TECH URBAN CO 6.09 04/30/22 CNY 41.50
JINING HIGH TECH URBAN CO 6.09 04/30/22 CNY 41.02
JINTANG MODERN AGRICULTUR 5.49 07/14/23 CNY 58.31
JINTANG MODERN AGRICULTUR 5.49 07/14/23 CNY 57.68
JINZHAI URBAN DEVELOPMENT 5.90 04/25/23 CNY 61.36
JINZHAI URBAN DEVELOPMENT 5.90 04/25/23 CNY 60.92
JINZHOU CITY INVESTMENT C 6.44 08/18/21 CNY 44.91
JINZHOU CITY INVESTMENT C 6.44 08/18/21 CNY 40.28
JINZHOU CITY INVESTMENT C 8.50 12/27/20 CNY 20.60
JINZHOU CITY INVESTMENT C 8.50 12/27/20 CNY 20.29
JINZHOU HUAXING INVESTMEN 8.38 02/25/21 CNY 25.00
JINZHOU HUAXING INVESTMEN 9.10 01/21/21 CNY 20.90
JINZHOU HUAXING INVESTMEN 9.10 01/21/21 CNY 20.32
JINZHOU HUAXING INVESTMEN 8.38 02/25/21 CNY 20.32
JISHOU HUATAI STATE OWNED 7.18 02/09/22 CNY 42.82
JISHOU HUATAI STATE OWNED 7.18 02/09/22 CNY 39.97
JIUJIANG CITY CONSTRUCTIO 5.50 05/22/22 CNY 40.92
JIUJIANG CITY CONSTRUCTIO 5.50 05/22/22 CNY 39.55
JIUJIANG LAND INVESTMENT 6.20 03/23/22 CNY 40.88
JIUJIANG LAND INVESTMENT 6.20 03/23/22 CNY 40.36
JIUJIANG LIANXI DISTRICT 4.58 03/30/23 CNY 59.49
JIUJIANG LIANXI DISTRICT 4.58 03/30/23 CNY 59.40
JIUQUAN ECONOMIC DEVELOPM 7.40 02/26/21 CNY 20.60
JIUQUAN ECONOMIC DEVELOPM 7.40 02/26/21 CNY 20.39
JIXI STATE OWN ASSET MANA 6.87 01/19/22 CNY 40.85
JIXI STATE OWN ASSET MANA 6.87 01/19/22 CNY 40.13
KAIFENG URBAN OPERATION I 6.35 03/23/22 CNY 40.24
KAIFENG URBAN OPERATION I 6.35 03/23/22 CNY 40.23
KAIFU CITY DEVELOPMENT CO 4.20 01/21/23 CNY 60.10
KAIFU CITY DEVELOPMENT CO 4.20 01/21/23 CNY 60.10
KAILI GUIZHOU TOWN CONSTR 5.29 12/17/22 CNY 60.00
KAILI GUIZHOU TOWN CONSTR 5.29 12/17/22 CNY 58.26
KANGMEI PHARMACEUTICAL CO 6.33 01/27/22 CNY 36.69
KANGMEI PHARMACEUTICAL CO 5.50 04/20/21 CNY 24.15
KANGMEI PHARMACEUTICAL CO 6.28 03/20/21 CNY 24.15
KANGMEI PHARMACEUTICAL CO 6.10 03/28/21 CNY 22.30
KANGMEI PHARMACEUTICAL CO 5.47 09/15/22 CNY 21.25
KANGMEI PHARMACEUTICAL CO 5.29 08/16/22 CNY 21.25
KANGMEI PHARMACEUTICAL CO 5.20 07/17/22 CNY 21.25
KANGMEI PHARMACEUTICAL CO 6.80 06/28/21 CNY 21.25
KANGMEI PHARMACEUTICAL CO 7.00 06/21/21 CNY 21.25
KASHI URBAN CONSTRUCTION 5.80 07/20/22 CNY 60.87
KASHI URBAN CONSTRUCTION 5.80 07/20/22 CNY 40.00
KUNMING DONGJUN REAL ESTA 4.50 11/02/21 CNY 49.38
KUNSHAN COMMUNICATION DEV 6.95 05/22/21 CNY 25.45
KUNSHAN COMMUNICATION DEV 6.95 05/22/21 CNY 20.45
KUNSHAN HIGH TECHNOLOGY G 7.10 03/26/21 CNY 20.45
LAIWU CITY ECONOMIC DEVEL 7.08 02/28/21 CNY 20.60
LAIWU CITY ECONOMIC DEVEL 7.08 02/28/21 CNY 20.35
LANZHOU STATE OWNED ASSET 6.32 09/10/21 CNY 40.16
LANZHOU STATE OWNED ASSET 6.32 09/10/21 CNY 34.90
LAOHEKOU CITY CONSTRUCTIO 6.75 08/12/22 CNY 60.59
LAOHEKOU CITY CONSTRUCTIO 6.75 08/12/22 CNY 60.39
LEIYANG CITY AND RURAL CO 7.80 04/10/22 CNY 41.54
LEIYANG CITY AND RURAL CO 7.80 04/10/22 CNY 41.53
LEQING CITY STATE OWNED I 5.99 10/20/21 CNY 40.85
LEQING CITY STATE OWNED I 5.99 10/20/21 CNY 40.65
LESHAN STATE-OWNED ASSET 5.68 10/22/21 CNY 45.60
LESHAN STATE-OWNED ASSET 5.68 10/22/21 CNY 40.62
LIANYUNGANG TRANSPORT GRO 5.47 11/17/21 CNY 45.00
LIANYUNGANG TRANSPORT GRO 5.47 11/17/21 CNY 40.31
LIAOCHENG ANTAI URBAN RUR 5.16 04/11/23 CNY 60.45
LIAOCHENG ANTAI URBAN RUR 5.16 04/11/23 CNY 60.29
LIAOCHENG ANTAI URBAN RUR 4.58 04/11/23 CNY 60.11
LIAOCHENG ANTAI URBAN RUR 4.58 04/11/23 CNY 59.94
LIAOCHENG XINGYE ECONOMIC 5.20 04/13/23 CNY 60.68
LIAOCHENG XINGYE ECONOMIC 5.20 04/13/23 CNY 58.54
LIAONING COASTAL ECONOMIC 8.90 04/01/21 CNY 11.24
LIAONING COASTAL ECONOMIC 8.90 04/01/21 CNY 3.63
LIAONING YAODU DEVELOPMEN 6.50 04/29/23 CNY 60.77
LILING HIGH-TECH INDUSTRI 4.93 01/19/23 CNY 59.28
LILING HIGH-TECH INDUSTRI 4.93 01/19/23 CNY 58.75
LINFEN YAODU DISTRICT INV 7.19 03/13/22 CNY 40.55
LINFEN YAODU DISTRICT INV 7.19 03/13/22 CNY 40.49
LINFEN YAODU DISTRICT INV 6.99 09/27/20 CNY 20.11
LINFEN YAODU DISTRICT INV 6.99 09/27/20 CNY 20.10
LISHUI CITY CONSTRUCTION 5.67 08/13/22 CNY 61.09
LISHUI CITY CONSTRUCTION 5.67 08/13/22 CNY 60.00
LIUPANSHUI DEVELOPMENT IN 3.74 01/20/23 CNY 60.57
LIUPANSHUI MINSHENG INVES 5.08 01/29/23 CNY 58.68
LIUPANSHUI MINSHENG INVES 5.08 01/29/23 CNY 58.66
LIUYANG MODERN MANUFACTUR 4.72 01/19/23 CNY 59.12
LIUYANG MODERN MANUFACTUR 4.72 01/19/23 CNY 59.11
LIUYANG NEW INDUSTRIAL CI 4.43 10/23/22 CNY 60.30
LIUYANG NEW INDUSTRIAL CI 4.43 10/23/22 CNY 60.10
LIUYANG URBAN CONSTRUCTIO 4.45 05/24/23 CNY 60.43
LIUYANG URBAN CONSTRUCTIO 4.45 05/24/23 CNY 60.39
LIUYANG URBAN CONSTRUCTIO 6.98 08/22/21 CNY 40.77
LIUZHOU CITY INVESTMENT C 7.18 12/31/22 CNY 46.17
LIUZHOU INVESTMENT HOLDIN 4.28 03/08/23 CNY 59.46
LIUZHOU INVESTMENT HOLDIN 4.28 03/08/23 CNY 59.45
LIUZHOU LONGJIAN INVESTME 8.28 04/30/24 CNY 63.68
LIYANG KUNLUN URBAN CONST 5.90 10/24/21 CNY 40.44
LIYANG KUNLUN URBAN CONST 5.90 10/24/21 CNY 38.00
LONGHAI STATE-OWNED ASSET 6.58 08/15/21 CNY 40.45
LONGYAN RAILWAY CONSTRUCT 4.98 04/13/23 CNY 59.30
LONGYAN RAILWAY CONSTRUCT 4.98 04/13/23 CNY 59.24
LOUDI CITY CONSTRUCTION I 7.95 04/15/21 CNY 30.31
LOUDI CITY CONSTRUCTION I 7.95 04/15/21 CNY 20.47
LOUDI TIDU INVESTMENT DEV 4.83 01/20/23 CNY 59.81
LOUDI TIDU INVESTMENT DEV 4.83 01/20/23 CNY 59.43
LOUDI TIDU INVESTMENT DEV 7.18 08/27/21 CNY 40.42
LOUDI WANBAO NEW DISTRICT 5.13 02/01/23 CNY 59.56
LOUDI WANBAO NEW DISTRICT 5.13 02/01/23 CNY 59.40
LU'AN CITY CONSTRUCTION I 5.05 04/26/21 CNY 50.59
LU'AN CITY CONSTRUCTION I 3.97 02/22/21 CNY 50.20
LU'AN CITY CONSTRUCTION I 5.20 09/25/20 CNY 50.20
LUJIANG CITY CONSTRUCTION 6.70 04/16/22 CNY 40.96
LUJIANG CITY CONSTRUCTION 6.70 04/16/22 CNY 40.00
LUOHE CITY INVESTMENT HOL 5.25 09/11/20 CNY 40.07
LUOYANG CITY COUNTRY CONS 4.28 04/26/23 CNY 60.38
LUOYANG CITY COUNTRY CONS 4.28 04/26/23 CNY 60.10
LUOYANG CITY DEVELOPMENT 4.47 12/02/22 CNY 60.64
LUOYANG CITY DEVELOPMENT 4.47 12/02/22 CNY 60.00
LUZHOU XINGLU INVESTMENT 6.41 04/23/25 CNY 74.03
LUZHOU XINGLU INVESTMENT 6.41 04/23/25 CNY 70.00
LUZHOU XINGYANG INVESTMEN 4.87 01/28/23 CNY 59.58
LUZHOU XINGYANG INVESTMEN 4.87 01/28/23 CNY 59.57
MA'ANSHAN CIHU HIGH TECHN 6.85 09/09/21 CNY 43.00
MA'ANSHAN CIHU HIGH TECHN 6.85 09/09/21 CNY 40.61
MAANSHAN ECONOMIC TECHNOL 6.49 03/06/22 CNY 44.99
MAANSHAN ECONOMIC TECHNOL 6.49 03/06/22 CNY 40.64
MAANSHAN HUASHAN DISTRICT 6.07 04/20/22 CNY 41.83
MAANSHAN HUASHAN DISTRICT 6.07 04/20/22 CNY 41.20
MEISHAN ASSET MANAGEMENT 7.84 02/26/21 CNY 20.38
MEISHAN CITY DONGPO DEVEL 5.90 06/30/23 CNY 59.36
MEISHAN CITY DONGPO DEVEL 5.90 06/30/23 CNY 59.14
MEISHAN HONGDA CONSTRUCTI 4.18 03/28/23 CNY 60.04
MEISHAN HONGDA CONSTRUCTI 4.18 03/28/23 CNY 59.08
MEIZHOU CITY XIN JIN YE D 6.02 04/22/22 CNY 45.32
MEIZHOU CITY XIN JIN YE D 6.02 04/22/22 CNY 40.84
MEIZHOU KANGDA HIGHWAY CO 6.95 09/10/20 CNY 20.09
MEIZHOU KANGDA HIGHWAY CO 6.95 09/10/20 CNY 20.07
MEIZHOU MEI COUNTY DISTRI 5.00 12/30/22 CNY 60.00
MEIZHOU MEI COUNTY DISTRI 5.00 12/30/22 CNY 59.79
MUDANJIANG AREA URBAN DEV 6.48 06/30/22 CNY 45.00
MUDANJIANG AREA URBAN DEV 6.48 06/30/22 CNY 41.33
MUDANJIANG STATE-OWNED AS 7.70 04/14/21 CNY 20.29
MUDANJIANG STATE-OWNED AS 7.70 04/14/21 CNY 20.29
MUNICIPALITY OF SHENZHEN 3.00 03/29/22 CNY 60.00
MUNICIPALITY OF SHENZHEN 3.00 03/29/22 CNY 60.00
NANCHONG AIRPORT INVESTME 6.80 01/26/22 CNY 40.53
NANCHONG AIRPORT INVESTME 6.80 01/26/22 CNY 40.39
NANCHONG ECONOMIC DEVELOP 8.28 04/21/21 CNY 31.20
NANCHONG ECONOMIC DEVELOP 8.28 04/21/21 CNY 20.58
NANJING BAIXIA STATE-OWNE 3.98 03/29/23 CNY 60.72
NANJING BAIXIA STATE-OWNE 3.98 03/29/23 CNY 60.04
NANJING HEXI NEW TOWN ASS 3.20 07/22/21 CNY 70.01
NANJING HEXI NEW TOWN ASS 3.47 06/17/21 CNY 40.10
NANJING JIANGNING ECONOMI 7.94 04/14/24 CNY 65.41
NANJING JIANYE SCIENCE & 4.37 06/24/23 CNY 60.57
NANJING JIANYE SCIENCE & 4.37 06/24/23 CNY 59.89
NANJING LISHUI ECONOMIC A 6.27 09/22/21 CNY 41.29
NANJING LISHUI ECONOMIC A 6.27 09/22/21 CNY 40.74
NANJING LISHUI URBAN CONS 4.97 04/28/23 CNY 60.60
NANJING LISHUI URBAN CONS 4.97 04/28/23 CNY 59.64
NANJING QIXIA STATE-OWNED 4.10 06/24/23 CNY 60.15
NANJING QIXIA STATE-OWNED 4.10 06/24/23 CNY 59.76
NANJING STATE OWNED ASSET 5.60 03/06/23 CNY 46.17
NANJING TANGSHAN CONSTRUC 6.80 06/30/21 CNY 26.80
NANJING TANGSHAN CONSTRUC 6.80 06/30/21 CNY 20.59
NANNING HI-TECH INDUSTRIA 4.28 03/25/23 CNY 59.12
NANNING HI-TECH INDUSTRIA 4.28 03/25/23 CNY 55.20
NANNING LVGANG CONSTRUCTI 7.30 06/27/21 CNY 24.80
NANNING LVGANG CONSTRUCTI 7.30 06/27/21 CNY 20.49
NANPING CITY WUYI NEW DIS 4.96 09/28/22 CNY 60.60
NANPING CITY WUYI NEW DIS 4.96 09/28/22 CNY 60.54
NANPING CITY WUYI NEW DIS 6.70 08/06/20 CNY 20.08
NANPING CITY WUYI NEW DIS 6.70 08/06/20 CNY 20.03
NANTONG CHONGCHUAN URBAN 7.15 04/18/21 CNY 25.40
NANTONG CHONGCHUAN URBAN 7.15 04/18/21 CNY 20.46
NANTONG CITY GANGZHA DIST 3.80 09/06/21 CNY 69.96
NANTONG CITY GANGZHA DIST 3.80 09/06/21 CNY 69.93
NANTONG CITY TONGZHOU DIS 3.75 07/07/23 CNY 61.50
NANTONG CITY TONGZHOU DIS 3.75 07/07/23 CNY 59.46
NANTONG HIGH TECHNOLOGY D 5.00 10/19/22 CNY 61.52
NANTONG HIGH TECHNOLOGY D 5.00 10/19/22 CNY 60.82
NANTONG SUTONG SCIENCE & 6.20 03/18/22 CNY 40.57
NANTONG SUTONG SCIENCE & 6.20 03/18/22 CNY 40.00
NANYANG HIGH-TECH DISTRIC 6.45 04/29/23 CNY 61.88
NANYANG HIGH-TECH DISTRIC 6.45 04/29/23 CNY 60.80
NANYANG INVESTMENT GROUP 7.05 10/24/20 CNY 20.16
NANYANG INVESTMENT GROUP 7.05 10/24/20 CNY 20.00
NEIJIANG INVESTMENT HOLDI 7.99 04/24/21 CNY 28.53
NEIJIANG INVESTMENT HOLDI 7.99 04/24/21 CNY 20.68
NEIJIANG STATE-OWNED ASSE 6.20 04/12/23 CNY 59.44
NEIJIANG STATE-OWNED ASSE 6.20 04/12/23 CNY 59.43
NEIJINAG CONSTRUCTION ENG 5.03 12/25/22 CNY 59.61
NEIJINAG CONSTRUCTION ENG 5.03 12/25/22 CNY 56.36
NEOGLORY HOLDING GROUP CO 8.10 11/23/18 CNY 72.00
NEOGLORY HOLDING GROUP CO 8.00 09/25/20 CNY 60.00
NEOGLORY HOLDING GROUP CO 8.00 10/22/20 CNY 56.00
NINGBO CITY HAISHU GUANGJ 7.75 03/06/21 CNY 26.30
NINGBO CITY HAISHU GUANGJ 7.75 03/06/21 CNY 20.47
NINGBO CITY ZHENHAI INVES 5.85 12/04/21 CNY 40.84
NINGBO CITY ZHENHAI INVES 5.85 12/04/21 CNY 40.67
NINGBO ECONOMIC & TECHNIC 7.09 04/21/21 CNY 29.00
NINGBO ECONOMIC & TECHNIC 7.09 04/21/21 CNY 20.42
NINGBO MEISHAN ISLAND DEV 6.27 03/23/22 CNY 48.29
NINGBO MEISHAN ISLAND DEV 6.27 03/23/22 CNY 41.32
NINGGUO CITY STATE OWNED 8.70 04/28/21 CNY 20.66
NINGGUO CITY STATE OWNED 8.70 04/28/21 CNY 20.00
NINGHAI COUNTY URBAN INVE 8.00 01/02/21 CNY 25.00
NINGHAI COUNTY URBAN INVE 7.99 04/16/21 CNY 20.70
NINGHAI COUNTY URBAN INVE 7.99 04/16/21 CNY 20.69
NINGHAI COUNTY URBAN INVE 8.00 01/02/21 CNY 20.30
NINGXIANG CITY CONSTRUCTI 6.70 01/20/22 CNY 41.10
NINGXIANG CITY CONSTRUCTI 6.70 01/20/22 CNY 40.20
NINGXIANG ECONOMIC TECHNO 3.87 01/27/23 CNY 60.40
NINGXIANG ECONOMIC TECHNO 3.87 01/27/23 CNY 59.79
NINGXIANG ECONOMIC TECHNO 8.20 04/16/21 CNY 20.54
NINGXIANG STATE-OWNED ASS 4.89 06/03/23 CNY 60.27
NINGXIANG STATE-OWNED ASS 4.89 06/03/23 CNY 59.03
ONE BELT ONE ROAD JIANGSU 4.70 07/15/23 CNY 60.18
ONE BELT ONE ROAD JIANGSU 4.70 07/15/23 CNY 60.18
PANJIN CITY SHUANGTAIZI D 7.25 01/22/22 CNY 40.76
PANJIN CITY SHUANGTAIZI D 7.25 01/22/22 CNY 40.38
PANSHAN COUNTY STATE-OWNE 7.48 01/21/22 CNY 40.73
PANSHAN COUNTY STATE-OWNE 7.48 01/21/22 CNY 40.71
PANZHIHUA STATE OWNED ASS 8.18 03/13/22 CNY 41.92
PANZHIHUA STATE OWNED ASS 8.18 03/13/22 CNY 41.00
PANZHIHUA STATE OWNED ASS 7.60 03/05/21 CNY 20.45
PANZHIHUA STATE OWNED ASS 7.60 03/05/21 CNY 20.32
PANZHIHUA STATE OWNED ASS 5.41 07/29/20 CNY 19.30
PEIXIAN CITY INVESTMENT D 5.20 11/10/22 CNY 60.36
PEIXIAN CITY INVESTMENT D 5.20 11/10/22 CNY 60.00
PEKING UNIVERSITY FOUNDER 6.30 03/04/24 CNY 49.00
PEKING UNIVERSITY FOUNDER 6.50 11/16/23 CNY 49.00
PEKING UNIVERSITY FOUNDER 6.68 08/09/23 CNY 49.00
PEKING UNIVERSITY FOUNDER 5.80 01/28/22 CNY 49.00
PEKING UNIVERSITY FOUNDER 6.10 08/22/21 CNY 49.00
PEKING UNIVERSITY FOUNDER 4.80 07/26/21 CNY 49.00
PEKING UNIVERSITY FOUNDER 6.30 09/12/20 CNY 49.00
PEKING UNIVERSITY FOUNDER 6.15 07/23/20 CNY 49.00
PEKING UNIVERSITY FOUNDER 6.20 05/31/20 CNY 49.00
PEKING UNIVERSITY FOUNDER 5.99 11/02/21 CNY 11.00
PINGHU CITY INVESTMENT DE 5.13 04/29/23 CNY 61.16
PINGHU CITY INVESTMENT DE 5.13 04/29/23 CNY 60.61
PINGHU ECONOMIC DEVELOPME 7.99 04/17/21 CNY 20.66
PINGHU ECONOMIC DEVELOPME 7.99 04/17/21 CNY 20.36
PINGLIANG CHENGXIANG CONS 7.10 09/17/20 CNY 20.08
PINGLIANG CULTURAL & TOUR 6.85 11/30/22 CNY 59.33
PINGTAN COMPREHENSIVE PIL 3.92 01/29/23 CNY 60.07
PINGTAN COMPREHENSIVE PIL 3.92 01/29/23 CNY 60.00
PINGXIANG CHANGXING INVES 5.26 04/11/23 CNY 59.60
PINGXIANG CHANGXING INVES 5.26 04/11/23 CNY 58.74
PINGXIANG HUIFENG INVESTM 6.60 01/26/22 CNY 40.54
PINGXIANG HUIFENG INVESTM 6.60 01/26/22 CNY 40.21
PINGYANG STATE-OWNED ASSE 4.97 01/08/23 CNY 60.00
PINGYANG STATE-OWNED ASSE 4.97 01/08/23 CNY 59.77
PIZHOU CITY HENGRUN INVES 6.46 12/05/21 CNY 42.46
PIZHOU CITY HENGRUN INVES 6.46 12/05/21 CNY 40.85
PIZHOU ECONOMIC DEVELOPME 5.00 10/29/22 CNY 60.00
PIZHOU ECONOMIC DEVELOPME 5.00 10/29/22 CNY 59.58
PIZHOU RUNCAI ASSET MANAG 5.90 12/18/20 CNY 50.19
PUTIAN HIGH TECHNOLOGY IN 5.90 05/03/22 CNY 50.44
PUTIAN HIGH TECHNOLOGY IN 5.90 05/03/22 CNY 50.19
PUYANG INVESTMENT GROUP C 8.00 12/11/20 CNY 20.29
PUYANG INVESTMENT GROUP C 8.00 12/11/20 CNY 20.00
QIANAN URBAN CONSTRUCTION 7.19 08/11/21 CNY 40.60
QIANAN URBAN CONSTRUCTION 7.19 08/11/21 CNY 40.00
QIANAN URBAN CONSTRUCTION 8.88 01/23/21 CNY 20.39
QIANAN URBAN CONSTRUCTION 8.88 01/23/21 CNY 20.00
QIANAN XINGYUAN WATER IND 6.25 04/22/22 CNY 46.90
QIANAN XINGYUAN WATER IND 6.25 04/22/22 CNY 40.87
QIANDONGNAN TRANSPORTATIO 5.79 12/21/22 CNY 57.68
QIANDONGNAN TRANSPORTATIO 5.79 12/21/22 CNY 56.65
QIANJIANG URBAN CONSTRUCT 5.19 12/21/22 CNY 60.00
QIANJIANG URBAN CONSTRUCT 5.19 12/21/22 CNY 59.98
QIANJIANG URBAN CONSTRUCT 8.38 04/22/21 CNY 21.00
QIANJIANG URBAN CONSTRUCT 8.38 04/22/21 CNY 20.63
QIANNANZHOU INVESTMENT CO 6.43 03/09/22 CNY 39.60
QIANXINAN AUTONOMOUS REGI 5.90 06/22/23 CNY 59.13
QIANXINAN AUTONOMOUS REGI 5.90 06/22/23 CNY 58.70
QIDONG COMMUNICATIONS INV 4.00 03/18/23 CNY 60.75
QIDONG COMMUNICATIONS INV 4.00 03/18/23 CNY 59.95
QIDONG STATE-OWNED ASSET 4.00 03/09/23 CNY 60.01
QIDONG STATE-OWNED ASSET 4.00 03/09/23 CNY 59.30
QIDONG STATE-OWNED ASSET 7.30 11/20/22 CNY 46.61
QIDONG URBAN CONSTRUCTION 8.20 04/04/21 CNY 20.61
QIDONG URBAN CONSTRUCTION 7.90 04/28/21 CNY 20.59
QIDONG URBAN CONSTRUCTION 8.20 04/04/21 CNY 20.52
QIHE CITY OPERATION CONST 5.10 03/07/23 CNY 59.92
QIHE CITY OPERATION CONST 5.10 03/07/23 CNY 59.41
QINGDAO CONSON DEVELOPMEN 6.40 12/12/22 CNY 47.20
QINGDAO CONSON DEVELOPMEN 6.40 12/12/22 CNY 46.38
QINGDAO HICREAT DEVELOPME 6.88 04/25/21 CNY 20.46
QINGDAO JIAOZHOU BAY DEVE 6.33 09/18/21 CNY 41.30
QINGDAO JIAOZHOU BAY DEVE 6.33 09/18/21 CNY 40.64
QINGDAO JIMO CITY TOURISM 5.47 11/17/21 CNY 41.00
QINGDAO JIMO CITY TOURISM 5.47 11/17/21 CNY 40.65
QINGDAO LAIXI CITY ASSET 7.50 03/06/21 CNY 28.79
QINGDAO LAIXI CITY ASSET 7.50 03/06/21 CNY 20.39
QINGDAO OCEAN INVESTMENT 4.36 05/12/23 CNY 60.40
QINGDAO OCEAN INVESTMENT 4.36 05/12/23 CNY 59.67
QINGDAO WEST COAST DEVELO 4.26 06/06/23 CNY 60.51
QINGDAO WEST COAST DEVELO 4.26 06/06/23 CNY 59.95
QINGHAI PROVINCIAL INVEST 7.88 03/22/21 USD 35.40
QINGHAI PROVINCIAL INVEST 6.40 07/10/21 USD 35.20
QINGHAI STATE-OWNED ASSET 5.40 05/21/23 CNY 56.23
QINGHAI STATE-OWNED ASSET 5.90 12/17/22 CNY 56.20
QINGYANG CITY ECONOMIC DE 7.98 04/16/21 CNY 20.31
QINGYANG CITY ECONOMIC DE 7.98 04/16/21 CNY 20.31
QINGYUAN TRANSPORTATION D 8.20 12/19/20 CNY 20.30
QINGZHOU HONGYUAN PUBLIC 7.59 05/29/21 CNY 27.50
QINGZHOU HONGYUAN PUBLIC 7.59 05/29/21 CNY 20.34
QINHUANGDAO CITY DEVELOPM 4.69 04/14/23 CNY 60.87
QINHUANGDAO CITY DEVELOPM 4.69 04/14/23 CNY 59.02
QINHUANGDAO DEVELOPMENT Z 8.45 04/18/21 CNY 21.28
QINHUANGDAO DEVELOPMENT Z 8.45 04/18/21 CNY 20.41
QINHUANGDAO DEVELOPMENT Z 8.00 12/17/20 CNY 20.23
QINHUANGDAO DEVELOPMENT Z 8.00 12/17/20 CNY 20.00
QINZHOU BINHAI NEW CITY A 7.00 08/27/20 CNY 20.04
QINZHOU BINHAI NEW CITY A 7.00 08/27/20 CNY 20.00
QINZHOU BINHAI NEW CITY Z 6.99 07/07/21 CNY 20.15
QINZHOU BINHAI NEW CITY Z 6.99 07/07/21 CNY 20.00
QIONGLAI CITY CONSTRUCTIO 6.98 03/25/22 CNY 40.80
QIONGLAI CITY CONSTRUCTIO 6.98 03/25/22 CNY 40.73
QUANJIAO URBAN INFRASTRUC 5.10 05/18/23 CNY 59.35
QUANJIAO URBAN INFRASTRUC 5.10 05/18/23 CNY 59.34
QUJING CITY QILIN DISTRIC 5.37 11/26/22 CNY 61.95
QUJING CITY QILIN DISTRIC 5.37 11/26/22 CNY 59.17
QUJING DEVELOPMENT INVEST 7.48 04/28/21 CNY 22.55
QUJING DEVELOPMENT INVEST 7.48 04/28/21 CNY 20.38
QUJING ECO TECH DEVELOPME 5.75 06/01/23 CNY 59.56
QUJING ECO TECH DEVELOPME 5.75 06/01/23 CNY 59.15
QUJING ECO TECH DEVELOPME 7.48 07/21/21 CNY 40.51
QUJING ECO TECH DEVELOPME 7.48 07/21/21 CNY 20.33
QUZHOU STATE OWNED ASSET 7.20 04/21/21 CNY 23.42
QUZHOU STATE OWNED ASSET 7.20 04/21/21 CNY 20.59
RENHUAI CITY DEVELOPMENT 5.12 04/14/23 CNY 59.32
RENHUAI CITY DEVELOPMENT 5.12 04/14/23 CNY 59.03
RENHUAI CITY DEVELOPMENT 8.09 05/16/21 CNY 20.61
RENHUAI CITY DEVELOPMENT 8.09 05/16/21 CNY 20.61
RENQIU CONSTRUCTION INVES 5.68 11/18/22 CNY 59.86
RENQIU CONSTRUCTION INVES 5.68 11/18/22 CNY 58.22
RENSHOU DEVELOPMENT OF IN 6.42 12/22/22 CNY 60.72
RENSHOU DEVELOPMENT OF IN 6.42 12/22/22 CNY 60.00
REWARD SCIENCE AND TECHNO 6.40 03/03/22 CNY 70.00
REWARD SCIENCE AND TECHNO 5.53 07/05/21 CNY 29.10
RIGHT WAY REAL ESTATE DEV 8.00 07/15/21 CNY 43.89
RIZHAO CITY CONSTRUCTION 3.98 12/07/22 CNY 60.54
RUDONG COUNTY DONGTAI SOC 6.99 06/20/21 CNY 25.90
RUDONG COUNTY DONGTAI SOC 6.99 06/20/21 CNY 20.59
RUDONG COUNTY JINXIN TRAF 8.08 03/03/21 CNY 24.03
RUDONG COUNTY JINXIN TRAF 8.08 03/03/21 CNY 20.42
RUDONG COUNTY KAITAI CITY 4.57 01/08/23 CNY 60.29
RUDONG NEW WORLD INVESTME 4.37 07/18/23 CNY 78.32
RUGAO COMMUNICATIONS CONS 3.74 03/23/23 CNY 59.81
RUGAO ECONOMIC & TRADE DE 3.95 03/24/23 CNY 60.05
RUGAO ECONOMIC & TRADE DE 3.95 03/24/23 CNY 59.85
RUGAO ECONOMIC & TRADE DE 8.30 01/22/21 CNY 29.00
RUGAO ECONOMIC & TRADE DE 8.30 01/22/21 CNY 20.45
RUGAO YANJIANG DEVELOPMEN 8.60 01/24/21 CNY 20.93
RUGAO YANJIANG DEVELOPMEN 8.60 01/24/21 CNY 20.48
RUIAN STATE OWNED ASSET I 4.56 01/27/23 CNY 60.54
RUIAN STATE OWNED ASSET I 4.56 01/27/23 CNY 58.97
RUICHANG CITY INVESTMENT 5.68 03/25/23 CNY 59.93
RUICHANG CITY INVESTMENT 5.50 06/17/23 CNY 59.76
RUICHANG CITY INVESTMENT 5.68 03/25/23 CNY 59.32
RUICHANG CITY INVESTMENT 5.50 06/17/23 CNY 58.90
RUZHOU CITY XINYUAN INVES 6.30 09/16/21 CNY 53.30
RUZHOU CITY XINYUAN INVES 6.30 09/16/21 CNY 50.66
SANMEN COUNTY STATE-OWNED 6.85 10/29/21 CNY 40.86
SANMEN COUNTY STATE-OWNED 6.80 03/18/22 CNY 40.58
SANMEN COUNTY STATE-OWNED 6.80 03/18/22 CNY 40.00
SANMEN COUNTY STATE-OWNED 6.85 10/29/21 CNY 40.00
SANMING TRANSPORTATION CO 3.68 03/29/23 CNY 59.44
SHAANXI ANKANG HIGH TECH 8.78 09/17/21 CNY 47.00
SHAANXI ANKANG HIGH TECH 8.78 09/17/21 CNY 40.68
SHAANXI XIXIAN NEW AREA F 6.85 08/15/21 CNY 45.50
SHAANXI XIXIAN NEW AREA F 6.85 08/15/21 CNY 40.42
SHAANXI XIXIAN NEW AREA J 6.89 01/05/22 CNY 43.10
SHAANXI XIXIAN NEW AREA J 6.89 01/05/22 CNY 40.80
SHAANXI XIXIAN NEW AREA Q 5.15 11/27/22 CNY 61.01
SHAANXI XIXIAN NEW AREA Q 5.15 11/27/22 CNY 60.06
SHANDONG BORUN INDUSTRIAL 6.50 11/02/21 CNY 66.04
SHANDONG BOXING COUNTY XI 8.00 12/22/21 CNY 41.95
SHANDONG BOXING COUNTY XI 8.00 12/22/21 CNY 41.24
SHANDONG CENTURY SUNSHINE 8.19 07/21/21 CNY 40.77
SHANDONG CENTURY SUNSHINE 8.19 07/21/21 CNY 20.78
SHANDONG FUYU CHEMICAL CO 7.70 09/18/22 CNY 70.00
SHANDONG GAOCHUANG CONSTR 6.05 06/18/22 CNY 42.45
SHANDONG GAOCHUANG CONSTR 6.05 06/18/22 CNY 41.01
SHANDONG HONGHE HOLDINGS 8.50 06/23/21 CNY 24.00
SHANDONG HONGHE HOLDINGS 8.50 06/23/21 CNY 20.78
SHANDONG JINMAO TEXTILE C 8.00 09/25/20 CNY 35.84
SHANDONG JINMAO TEXTILE C 6.97 04/01/21 CNY 20.70
SHANDONG RENCHENG RONGXIN 7.30 10/18/20 CNY 23.40
SHANDONG RENCHENG RONGXIN 7.30 10/18/20 CNY 20.10
SHANDONG RUYI TECHNOLOGY 7.90 09/18/23 CNY 52.10
SHANDONG SNTON GROUP CO L 6.20 05/30/21 CNY 9.50
SHANDONG SNTON GROUP CO L 5.18 09/08/21 CNY 8.52
SHANDONG TAIYANG INDUSTRY 5.97 03/02/21 CNY 42.86
SHANDONG TENGJIAN INVESTM 6.00 06/08/22 CNY 40.36
SHANDONG TENGJIAN INVESTM 6.00 06/08/22 CNY 40.00
SHANDONG WANTONG PETROLEU 7.97 11/29/21 CNY 18.95
SHANGHAI CAOHEJING HI-TEC 7.24 04/09/21 CNY 20.42
SHANGHAI CAOHEJING HI-TEC 7.24 04/09/21 CNY 20.42
SHANGHAI JIADING ROAD CON 6.80 04/23/21 CNY 20.75
SHANGHAI JIADING ROAD CON 6.80 04/23/21 CNY 20.52
SHANGHAI LAKE DIANSHAN NE 5.95 01/30/21 CNY 25.75
SHANGHAI LAKE DIANSHAN NE 5.95 01/30/21 CNY 25.27
SHANGHAI MINHANG URBAN CO 5.63 04/20/22 CNY 40.90
SHANGHAI MINHANG URBAN CO 5.63 04/20/22 CNY 40.79
SHANGHAI MUNICIPAL INVEST 4.80 11/05/24 CNY 71.64
SHANGHAI NANHUI URBAN CON 6.04 08/20/21 CNY 40.68
SHANGHAI NANHUI URBAN CON 6.04 08/20/21 CNY 40.49
SHANGHAI PUTAILAI NEW ENE 5.50 03/19/21 CNY 66.67
SHANGHAI URBAN CONSTRUCTI 3.50 01/06/23 CNY 61.07
SHANGHAI URBAN CONSTRUCTI 3.50 01/06/23 CNY 59.75
SHANGLUO CITY CONSTRUCTIO 7.05 09/09/20 CNY 25.40
SHANGLUO CITY CONSTRUCTIO 7.05 09/09/20 CNY 20.14
SHANGRAO CITY STATE-OWNED 4.65 01/29/23 CNY 60.80
SHANGRAO CITY STATE-OWNED 4.65 01/29/23 CNY 60.34
SHANTOU CITY CONSTRUCTION 8.57 03/23/22 CNY 31.53
SHANTOU INVESTMENT & FINA 7.99 03/04/24 CNY 64.64
SHANXI INTERNATIONAL ELEC 5.88 05/24/22 CNY 62.60
SHANXI XIANG KUANG GROUP 8.80 02/11/22 CNY 69.90
SHANXI XIANG KUANG GROUP 8.80 02/11/22 CNY 54.50
SHAOWU URBAN CONSTRUCTION 5.88 09/11/22 CNY 63.39
SHAOWU URBAN CONSTRUCTION 5.88 09/11/22 CNY 60.54
SHAOXING CHENGZHONGCUN RE 6.09 04/27/22 CNY 40.83
SHAOXING CHENGZHONGCUN RE 6.09 04/27/22 CNY 40.00
SHAOXING CITY INVESTMENT 5.75 04/17/22 CNY 48.00
SHAOXING CITY INVESTMENT 5.75 04/17/22 CNY 41.35
SHAOXING CITY KEQIAO DIST 6.40 08/20/21 CNY 40.62
SHAOXING JINGHU NEW DISTR 6.13 04/30/22 CNY 41.07
SHAOXING KEQIAO ECONOMIC 7.00 12/10/21 CNY 40.93
SHAOXING KEQIAO ECONOMIC 7.00 12/10/21 CNY 40.00
SHAOXING KEYAN CONSTRUCTI 6.28 03/24/22 CNY 41.56
SHAOXING KEYAN CONSTRUCTI 6.28 03/24/22 CNY 40.00
SHAOXING PAOJIANG INDUSTR 6.98 05/29/21 CNY 23.90
SHAOXING PAOJIANG INDUSTR 6.98 05/29/21 CNY 20.32
SHAOXING SHANGYU ECONOMIC 4.76 04/11/23 CNY 60.33
SHAOXING SHANGYU ECONOMIC 4.76 04/11/23 CNY 60.32
SHAOXING SHANGYU HANGZHOU 6.95 10/11/20 CNY 20.55
SHAOXING SHANGYU HANGZHOU 6.95 10/11/20 CNY 20.12
SHAOXING SHANGYU URBAN CO 6.80 08/07/21 CNY 40.61
SHAOYANG CITY CONSTRUCTIO 8.58 01/17/21 CNY 20.32
SHAOYANG DULIANG INVESTME 5.50 04/13/23 CNY 59.77
SHAOYANG DULIANG INVESTME 5.50 04/13/23 CNY 57.99
SHENGZHOU INVESTMENT HOLD 7.60 07/17/21 CNY 20.78
SHENGZHOU INVESTMENT HOLD 7.60 07/17/21 CNY 20.69
SHENMU CITY STATE-OWNED A 7.28 06/23/21 CNY 20.53
SHENYANG DADONG STATE-OWN 6.05 03/20/22 CNY 41.00
SHENYANG DADONG STATE-OWN 6.05 03/20/22 CNY 40.00
SHENYANG ECONOMIC AFFORDA 7.17 04/29/22 CNY 41.26
SHENYANG ECONOMIC AFFORDA 7.17 04/29/22 CNY 39.73
SHENYANG TIEXI STATE-OWNE 6.00 01/14/22 CNY 47.50
SHENYANG TIEXI STATE-OWNE 6.00 01/14/22 CNY 40.59
SHENZHEN METRO GROUP CO L 6.75 01/24/24 CNY 63.79
SHENZHEN METRO GROUP CO L 5.40 03/25/23 CNY 46.42
SHIJIAZHUANG HUTUO NEW DI 5.28 12/24/25 CNY 63.25
SHIJIAZHUANG HUTUO NEW DI 5.28 12/24/25 CNY 62.50
SHIJIAZHUANG STATE-OWNED 5.75 04/09/22 CNY 47.20
SHIJIAZHUANG STATE-OWNED 5.75 04/09/22 CNY 40.91
SHIJIAZHUANG URBAN CONSTR 6.55 03/09/21 CNY 41.40
SHISHI CITY CONSTRUCTION 6.10 05/04/22 CNY 41.17
SHIYAN STATE-OWNED CAPITA 6.58 08/20/21 CNY 40.71
SHIYAN STATE-OWNED CAPITA 6.58 08/20/21 CNY 40.00
SHIYAN STATE-OWNED CAPITA 6.88 10/11/20 CNY 20.68
SHIYAN STATE-OWNED CAPITA 6.88 10/11/20 CNY 20.12
SHOUGUANG CITY CONSTRUCTI 7.10 10/18/20 CNY 22.87
SHOUGUANG CITY CONSTRUCTI 7.10 10/18/20 CNY 20.07
SHUCHENG COUNTY URBAN CON 5.50 04/29/23 CNY 61.24
SHUCHENG COUNTY URBAN CON 5.50 04/29/23 CNY 61.23
SHUYANG JINGYUAN ASSET OP 5.49 09/11/22 CNY 66.00
SHUYANG JINGYUAN ASSET OP 5.49 09/11/22 CNY 60.53
SHUYANG JINGYUAN ASSET OP 7.39 04/14/21 CNY 20.47
SHUYANG JINGYUAN ASSET OP 7.39 04/14/21 CNY 20.00
SICHUAN CHENG'A DEVELOPME 7.18 09/12/20 CNY 20.06
SICHUAN COAL GASIFICATION 7.00 04/18/23 CNY 60.32
SICHUAN COAL INDUSTRY GRO 7.70 01/09/18 CNY 45.00
SICHUAN LANGZHONG FAMOUS 5.60 04/19/23 CNY 59.85
SICHUAN LANGZHONG FAMOUS 5.60 04/19/23 CNY 59.51
SICHUAN LONGYANG TIANFU N 5.45 05/27/23 CNY 60.87
SICHUAN LONGYANG TIANFU N 5.45 05/27/23 CNY 59.92
SICHUAN NAXING INDUSTRIAL 6.80 08/18/22 CNY 74.73
SICHUAN NAXING INDUSTRIAL 6.80 08/18/22 CNY 74.72
SICHUAN NAXING INDUSTRIAL 4.68 03/31/23 CNY 58.53
SICHUAN NAXING INDUSTRIAL 4.68 03/31/23 CNY 57.62
SICHUAN NAXING INDUSTRIAL 7.17 09/11/21 CNY 40.42
SICHUAN TIANYIN INDUSTRIA 6.79 03/25/22 CNY 48.00
SICHUAN TIANYIN INDUSTRIA 6.79 03/25/22 CNY 40.84
SIHONG COUNTY HONG YUAN P 6.15 03/16/22 CNY 40.77
SIHONG COUNTY HONG YUAN P 6.15 03/16/22 CNY 40.00
SIHUI STATE OWNED ASSETS 4.59 01/14/23 CNY 59.73
SIHUI STATE OWNED ASSETS 4.59 01/14/23 CNY 59.30
SIYANG COUNTY MINKANG RUR 4.94 01/21/23 CNY 60.56
SIYANG COUNTY MINKANG RUR 4.94 01/21/23 CNY 60.06
SLENDER WEST LAKE TOURISM 6.80 06/25/21 CNY 20.58
SLENDER WEST LAKE TOURISM 6.80 06/25/21 CNY 20.00
SONGYUAN URBAN DEVELOPMEN 5.79 12/04/21 CNY 40.78
SONGYUAN URBAN DEVELOPMEN 5.79 12/04/21 CNY 40.63
SUINING CITY HEDONG DEVEL 8.36 04/17/21 CNY 27.82
SUINING CITY HEDONG DEVEL 8.36 04/17/21 CNY 20.58
SUINING COUNTY RUNQI INVE 5.42 11/20/22 CNY 60.45
SUINING COUNTY RUNQI INVE 5.42 11/20/22 CNY 60.00
SUINING COUNTY RUNQI INVE 7.10 06/25/21 CNY 20.42
SUINING FUYUAN INDUSTRY C 6.39 03/17/22 CNY 44.18
SUINING FUYUAN INDUSTRY C 6.39 03/17/22 CNY 39.85
SUINING KAIDA INVESTMENT 4.89 04/08/23 CNY 59.19
SUINING KAIDA INVESTMENT 4.89 04/08/23 CNY 58.41
SUINING KAIDA INVESTMENT 8.69 04/21/21 CNY 20.48
SUINING KAIDA INVESTMENT 8.69 04/21/21 CNY 20.00
SUIZHOU DEVELOPMENT INVES 8.50 12/20/20 CNY 21.83
SUIZHOU DEVELOPMENT INVES 8.40 04/30/21 CNY 20.71
SUIZHOU DEVELOPMENT INVES 8.40 04/30/21 CNY 20.70
SUIZHOU DEVELOPMENT INVES 8.50 12/20/20 CNY 20.38
SUIZHOU HIGH-TECH INDUSTR 4.47 03/25/23 CNY 59.55
SUIZHOU HIGH-TECH INDUSTR 4.47 03/25/23 CNY 59.17
SUIZHOU URBAN CONSTRUCTIO 7.18 09/02/21 CNY 41.20
SUIZHOU URBAN CONSTRUCTIO 7.18 09/02/21 CNY 40.67
SUIZHOU YULONG WATER SUPP 6.10 03/28/23 CNY 59.76
SUNSHINE KAIDI NEW ENERGY 6.12 08/23/20 CNY 40.06
SUNSHINE KAIDI NEW ENERGY 6.12 08/23/20 CNY 29.01
SUQIAN CITY CONSTRUCTION 6.88 10/29/20 CNY 20.15
SUZHOU CITY CONSTRUCTION 3.89 03/24/23 CNY 59.97
SUZHOU CITY CONSTRUCTION 3.89 03/24/23 CNY 59.94
SUZHOU CITY HENGCHENG CON 4.40 03/01/23 CNY 60.07
SUZHOU CITY HENGCHENG CON 4.40 03/01/23 CNY 60.06
SUZHOU FENHU INVESTMENT G 7.49 02/28/21 CNY 20.80
SUZHOU FENHU INVESTMENT G 7.49 02/28/21 CNY 20.39
SUZHOU NEW & HIGH-TECH IN 4.18 03/23/23 CNY 59.66
SUZHOU NEW & HIGH-TECH IN 4.18 03/23/23 CNY 59.06
SUZHOU NEW DISTRICT ECONO 6.20 07/22/21 CNY 40.47
SUZHOU WUJIANG COMMUNICAT 6.80 10/31/20 CNY 25.53
SUZHOU WUJIANG COMMUNICAT 6.80 10/31/20 CNY 25.23
SUZHOU WUJIANG DISTRICT I 5.25 07/08/22 CNY 40.98
SUZHOU XIANGCHENG URBAN C 6.95 03/19/21 CNY 22.60
SUZHOU XIANGCHENG URBAN C 6.95 03/19/21 CNY 20.40
TAIAN TAISHAN HOLDINGS CO 5.50 04/26/23 CNY 60.62
TAIAN TAISHAN HOLDINGS CO 5.50 04/26/23 CNY 59.76
TAICANG ASSETS MANAGEMENT 7.00 02/27/21 CNY 20.70
TAICANG ASSETS MANAGEMENT 7.00 02/27/21 CNY 20.16
TAICANG SCIENCE EDUCATION 5.54 08/28/22 CNY 64.65
TAICANG SCIENCE EDUCATION 5.54 08/28/22 CNY 61.22
TAIXING CITY CHENGXING ST 8.30 12/12/20 CNY 20.31
TAIXING CITY HONGQIAO YUA 5.03 10/29/22 CNY 63.87
TAIXING CITY HONGQIAO YUA 5.03 10/29/22 CNY 59.74
TAIYUAN ECONOMIC TECHNOLO 7.43 04/24/21 CNY 20.39
TAIYUAN ECONOMIC TECHNOLO 7.43 04/24/21 CNY 20.00
TAIYUAN HIGH-SPEED RAILWA 5.18 09/06/20 CNY 40.10
TAIYUAN HIGH-SPEED RAILWA 6.50 10/30/20 CNY 25.19
TAIYUAN STATE-OWNED INVES 7.20 03/19/21 CNY 26.50
TAIYUAN STATE-OWNED INVES 7.20 03/19/21 CNY 20.42
TAIZHOU CITY CONSTRUCTION 6.92 10/16/23 CNY 63.45
TAIZHOU HAILING CITY DEVE 4.60 12/14/22 CNY 60.14
TAIZHOU HAILING CITY DEVE 4.60 12/14/22 CNY 60.00
TAIZHOU JIAOJIANG STATE O 6.18 07/06/22 CNY 44.00
TAIZHOU JIAOJIANG STATE O 6.18 07/06/22 CNY 41.27
TAIZHOU JIAOJIANG STATE O 7.46 09/13/20 CNY 26.00
TAIZHOU JIAOJIANG STATE O 7.46 09/13/20 CNY 25.12
TAIZHOU JINDONG URBAN CON 5.10 06/02/23 CNY 60.78
TAIZHOU JINDONG URBAN CON 5.10 06/02/23 CNY 59.56
TAIZHOU JINDONG URBAN CON 7.10 09/03/20 CNY 20.60
TAIZHOU JINDONG URBAN CON 7.10 09/03/20 CNY 20.07
TAIZHOU XINBINJIANG DEVEL 7.60 03/05/21 CNY 21.00
TAIZHOU XINBINJIANG DEVEL 7.60 03/05/21 CNY 20.28
TAIZHOU XINTAI GROUP CO L 4.07 03/23/23 CNY 59.99
TAIZHOU XINTAI GROUP CO L 4.07 03/23/23 CNY 59.95
TANGSHAN CAOFEIDIAN DEVEL 7.50 10/15/20 CNY 20.10
TIANJIN BAOXING INDUSTRY 7.10 10/17/20 CNY 20.19
TIANJIN BAOXING INDUSTRY 7.10 10/17/20 CNY 20.09
TIANJIN BEICHEN DISTRICT 7.00 04/21/21 CNY 27.15
TIANJIN BEICHEN DISTRICT 7.00 04/21/21 CNY 20.22
TIANJIN BEICHEN TECHNOLOG 6.87 08/20/21 CNY 40.06
TIANJIN BINHAI NEW AREA C 6.10 11/23/21 CNY 43.90
TIANJIN BOHAI STATE-OWNED 3.82 04/18/23 CNY 59.69
TIANJIN BOHAI STATE-OWNED 3.82 04/18/23 CNY 59.25
TIANJIN DONGFANG CAIXIN I 5.19 01/29/22 CNY 40.24
TIANJIN DONGFANG CAIXIN I 5.19 01/29/22 CNY 39.59
TIANJIN DONGLI CITY INFRA 4.28 12/02/22 CNY 59.51
TIANJIN ECONOMIC TECHNOLO 6.50 12/03/22 CNY 46.30
TIANJIN ECONOMIC TECHNOLO 6.50 12/03/22 CNY 45.65
TIANJIN GUANGCHENG INVEST 5.40 04/20/23 CNY 58.36
TIANJIN GUANGCHENG INVEST 5.40 04/20/23 CNY 57.75
TIANJIN GUANGCHENG INVEST 7.45 07/24/21 CNY 49.00
TIANJIN GUANGCHENG INVEST 6.97 02/22/23 CNY 44.47
TIANJIN GUANGCHENG INVEST 7.45 07/24/21 CNY 39.74
TIANJIN GUANGCHENG INVEST 6.97 02/22/23 CNY 39.00
TIANJIN HARBOR CONSTRUCTI 6.29 10/21/21 CNY 70.37
TIANJIN HARBOR CONSTRUCTI 8.80 01/24/21 CNY 40.87
TIANJIN HARBOR CONSTRUCTI 8.00 04/01/21 CNY 40.83
TIANJIN HI-TECH INDUSTRY 6.65 09/12/21 CNY 40.36
TIANJIN HUANCHENG URBAN I 5.75 04/27/22 CNY 41.70
TIANJIN HUANCHENG URBAN I 5.75 04/27/22 CNY 40.59
TIANJIN HUANCHENG URBAN I 7.20 03/21/21 CNY 20.35
TIANJIN HUANCHENG URBAN I 7.20 03/21/21 CNY 20.24
TIANJIN INFRASTRUCTURE CO 5.70 02/26/23 CNY 46.10
TIANJIN INFRASTRUCTURE CO 5.70 02/26/23 CNY 46.00
TIANJIN JINNAN CITY CONST 6.50 06/03/21 CNY 20.38
TIANJIN JINNAN CITY CONST 6.50 06/03/21 CNY 20.00
TIANJIN LINGANG INVESTMEN 7.75 02/26/21 CNY 20.20
TIANJIN LINGANG INVESTMEN 7.75 02/26/21 CNY 20.19
TIANJIN NINGHE DISTRICT X 7.00 05/30/21 CNY 27.50
TIANJIN NINGHE DISTRICT X 7.00 05/30/21 CNY 20.44
TIANJIN NINGHE INVESTMENT 5.50 04/22/23 CNY 60.92
TIANJIN NINGHE INVESTMENT 5.50 04/22/23 CNY 60.02
TIANJIN RAILWAY CONSTRUCT 5.58 04/13/25 CNY 73.17
TIANJIN REAL ESTATE TRUST 8.59 03/13/21 CNY 20.39
TIANJIN RESIDENTIAL CONST 8.00 12/19/20 CNY 20.03
TIANJIN STATE-OWNED CAPIT 1.60 12/17/39 USD 73.92
TIANJIN WATER INVESTMENT 6.60 07/28/21 CNY 41.80
TIANJIN WATER INVESTMENT 6.60 07/28/21 CNY 39.20
TIANJIN WATER INVESTMENT 8.40 01/15/21 CNY 24.94
TIANJIN WUQING STATE-OWNE 4.15 11/17/22 CNY 60.60
TIANJIN WUQING STATE-OWNE 4.15 11/17/22 CNY 59.77
TIANJIN WUQING STATE-OWNE 8.00 12/17/20 CNY 20.76
TIANJIN WUQING STATE-OWNE 7.18 03/19/21 CNY 20.40
TIANJIN WUQING STATE-OWNE 8.00 12/17/20 CNY 20.34
TIANJIN WUQING STATE-OWNE 7.18 03/19/21 CNY 20.32
TIANMEN CITY CONSTRUCTION 8.20 08/28/21 CNY 45.16
TIANMEN CITY CONSTRUCTION 8.20 08/28/21 CNY 41.00
TIANRUI GROUP CEMENT CO L 5.95 09/25/20 CNY 50.00
TONGLING CONSTRUCTION INV 4.12 03/14/23 CNY 60.00
TONGLING CONSTRUCTION INV 4.12 03/14/23 CNY 59.63
TONGLING CONSTRUCTION INV 6.98 08/26/20 CNY 22.50
TONGLING CONSTRUCTION INV 6.98 08/26/20 CNY 20.09
TONGLU STATE-OWNED ASSET 8.09 04/18/21 CNY 20.98
TONGLU STATE-OWNED ASSET 8.09 04/18/21 CNY 20.61
TSINGHUA UNIGROUP CO LTD 5.20 12/10/23 CNY 65.51
TULUFAN DISTRICT STATE-OW 6.20 03/19/22 CNY 41.38
TULUFAN DISTRICT STATE-OW 6.20 03/19/22 CNY 40.85
TUNGHSU GROUP CO LTD 6.55 03/13/22 CNY 45.00
ULANQAB CITY INVESTMENT D 8.39 04/25/22 CNY 51.68
ULANQAB JINING DISTRICT G 6.16 03/24/23 CNY 61.51
ULANQAB JINING DISTRICT G 6.16 03/24/23 CNY 58.74
URUMQI ECO&TECH DEVELOPME 6.40 04/13/22 CNY 41.19
URUMQI ECO&TECH DEVELOPME 6.40 04/13/22 CNY 40.00
WAFANGDIAN COASTAL PROJEC 3.98 02/01/23 CNY 58.46
WAFANGDIAN COASTAL PROJEC 3.98 02/01/23 CNY 58.28
WANGCHENG ECONOMIC DEVELO 3.75 07/13/23 CNY 61.05
WANGCHENG ECONOMIC DEVELO 3.75 07/13/23 CNY 59.77
WANGCHENG ECONOMIC DEVELO 6.57 01/22/22 CNY 48.81
WANGCHENG ECONOMIC DEVELO 6.57 01/22/22 CNY 41.07
WEIFANG BINHAI INVESTMENT 6.16 04/16/21 CNY 25.35
WEIHAI LANCHUANG CONSTRUC 4.80 12/17/22 CNY 59.39
WEIHAI LANCHUANG CONSTRUC 4.80 12/17/22 CNY 59.18
WEIHAI URBAN CONSTRUCTION 3.33 03/02/23 CNY 59.13
WEIHAI URBAN CONSTRUCTION 3.33 03/02/23 CNY 58.40
WEIHAI WENDENG URBAN PROP 4.80 05/26/23 CNY 59.02
WEIHAI WENDENG URBAN PROP 4.80 05/26/23 CNY 58.50
WEINAN CITY INVESTMENT GR 6.09 03/11/22 CNY 40.86
WEINAN CITY INVESTMENT GR 6.09 03/11/22 CNY 40.00
WENDENG GOLDEN BEACH INVE 3.97 03/21/23 CNY 59.41
WENDENG GOLDEN BEACH INVE 3.97 03/21/23 CNY 58.48
WENZHOU CITY CONSTRUCTION 5.00 04/26/23 CNY 61.78
WENZHOU CITY CONSTRUCTION 5.00 04/26/23 CNY 61.45
WENZHOU CITY CONSTRUCTION 4.05 01/25/23 CNY 60.69
WENZHOU CITY CONSTRUCTION 4.05 01/25/23 CNY 60.22
WENZHOU GANGCHENG DEVELOP 5.19 03/29/23 CNY 60.46
WENZHOU GANGCHENG DEVELOP 5.19 03/29/23 CNY 60.19
WENZHOU HIGH-TECH INDUSTR 7.30 05/30/21 CNY 20.63
WENZHOU HIGH-TECH INDUSTR 7.30 05/30/21 CNY 20.60
WENZHOU HIGH-TECH INDUSTR 7.95 03/21/21 CNY 20.60
WENZHOU HIGH-TECH INDUSTR 7.95 03/21/21 CNY 20.59
WENZHOU LUCHENG CITY DEVE 5.58 11/03/21 CNY 40.40
WINTIME ENERGY CO LTD 7.50 04/04/21 CNY 43.63
WINTIME ENERGY CO LTD 7.90 03/29/21 CNY 43.63
WINTIME ENERGY CO LTD 7.90 12/22/20 CNY 43.63
WINTIME ENERGY CO LTD 7.50 12/06/20 CNY 43.63
WINTIME ENERGY CO LTD 7.50 11/16/20 CNY 43.63
WINTIME ENERGY CO LTD 7.70 11/15/20 CNY 43.63
WINTIME ENERGY CO LTD 7.00 04/26/19 CNY 43.63
WINTIME ENERGY CO LTD 7.00 03/19/19 CNY 43.63
WINTIME ENERGY CO LTD 7.00 12/15/18 CNY 43.63
WINTIME ENERGY CO LTD 6.78 10/23/18 CNY 43.63
WINTIME ENERGY CO LTD 7.00 08/25/18 CNY 43.63
WINTIME ENERGY CO LTD 7.30 08/06/18 CNY 43.63
WINTIME ENERGY CO LTD 7.00 07/05/18 CNY 43.63
WUHAI CITY CONSTRUCTION I 8.19 04/21/21 CNY 20.50
WUHAI CITY CONSTRUCTION I 8.19 04/21/21 CNY 5.39
WUHAN CHEDU CORP LTD 7.18 02/27/21 CNY 20.96
WUHAN CHEDU CORP LTD 7.18 02/27/21 CNY 20.38
WUHAN CITY HUANPI DISTRIC 6.43 09/17/21 CNY 43.02
WUHAN CITY HUANPI DISTRIC 6.43 09/17/21 CNY 40.68
WUHAN JIANGXIA URBAN CONS 4.80 06/03/23 CNY 60.53
WUHAN JIANGXIA URBAN CONS 4.80 06/03/23 CNY 60.32
WUHAN JIANGXIA URBAN CONS 8.99 01/20/21 CNY 20.40
WUHAN METRO GROUP CO LTD 5.25 04/14/22 CNY 40.46
WUHU COMMUNICATIONS INVES 4.50 04/28/23 CNY 60.05
WUHU COMMUNICATIONS INVES 4.50 04/28/23 CNY 59.99
WUHU COUNTY CONSTRUCTION 6.60 12/08/21 CNY 46.35
WUHU COUNTY CONSTRUCTION 6.60 12/08/21 CNY 40.70
WUHU JINGHU CONSTRUCTION 4.37 07/20/23 CNY 59.59
WUHU JIUJIANG CONSTRUCTIO 3.96 03/21/23 CNY 59.78
WUHU JIUJIANG CONSTRUCTIO 8.49 04/14/21 CNY 20.68
WUHU JIUJIANG CONSTRUCTIO 8.49 04/14/21 CNY 20.00
WUHU XINMA INVESTMENT CO 4.87 11/04/22 CNY 60.56
WUHU XINMA INVESTMENT CO 4.87 11/04/22 CNY 59.50
WUHU YIJU INVESTMENT GROU 6.45 08/11/21 CNY 41.45
WUHU YIJU INVESTMENT GROU 6.45 08/11/21 CNY 40.69
WUWEI CITY ECONOMY DEVELO 8.20 04/24/21 CNY 20.51
WUWEI CITY ECONOMY DEVELO 8.20 12/09/20 CNY 20.40
WUWEI CITY ECONOMY DEVELO 8.20 12/09/20 CNY 20.27
WUWEI CITY ECONOMY DEVELO 8.20 04/24/21 CNY 20.10
WUXI HUIKAI ECONOMIC DEVE 4.16 04/08/23 CNY 60.07
WUXI HUIKAI ECONOMIC DEVE 4.16 04/08/23 CNY 59.83
WUXI HUNING METRO HUISHAN 4.38 06/08/21 CNY 40.45
WUXI HUNING METRO HUISHAN 4.38 06/08/21 CNY 40.02
WUXI MUNICIPAL DEVELOPMEN 6.10 10/11/20 CNY 20.13
WUXI MUNICIPAL DEVELOPMEN 6.10 10/11/20 CNY 20.11
WUXI TAIHU NEW CITY DEVEL 4.49 05/03/23 CNY 61.05
WUXI TAIHU NEW CITY DEVEL 4.49 05/03/23 CNY 60.64
WUYANG CONSTRUCTION GROUP 7.80 09/11/20 CNY 32.48
WUZHONG URBAN RURAL CONST 7.18 10/12/20 CNY 20.12
WUZHONG URBAN RURAL CONST 7.18 10/12/20 CNY 20.11
XIAMEN TORCH GROUP CO LTD 7.49 04/21/21 CNY 20.53
XIAN FENGDONG DEVELOPMENT 4.67 01/08/23 CNY 59.46
XIAN FENGDONG DEVELOPMENT 4.67 01/08/23 CNY 59.46
XI'AN INTERNATIONAL HORTI 6.20 10/21/21 CNY 41.46
XI'AN INTERNATIONAL HORTI 6.20 10/21/21 CNY 40.40
XI'AN INTERNATIONAL INLAN 7.90 09/23/21 CNY 42.28
XIANGSHUI GUANJIANG HOLDI 4.98 12/24/22 CNY 63.20
XIANGSHUI GUANJIANG HOLDI 4.98 12/24/22 CNY 59.68
XIANGTAN CITY CONSTRUCTIO 7.60 04/02/22 CNY 64.80
XIANGTAN HI-TECH GROUP CO 8.16 02/25/21 CNY 28.99
XIANGTAN HI-TECH GROUP CO 8.16 02/25/21 CNY 20.17
XIANGTAN JIUHUA ECONOMIC 6.59 01/21/22 CNY 37.79
XIANGTAN JIUHUA ECONOMIC 7.15 10/15/20 CNY 19.75
XIANGTAN JIUHUA ECONOMIC 7.15 10/15/20 CNY 19.73
XIANGTAN LIANGXING SOCIET 7.89 04/23/21 CNY 20.26
XIANGTAN WANLOU XINCHENG 6.90 01/14/22 CNY 39.96
XIANGTAN ZHENXIANG STATE- 6.60 08/07/20 CNY 20.00
XIANGTAN ZHENXIANG STATE- 6.60 08/07/20 CNY 19.99
XIANGXIANG URBAN CONSTRUC 5.84 05/18/23 CNY 60.30
XIANGXIANG URBAN CONSTRUC 5.84 05/18/23 CNY 59.54
XIANGYANG CITY XIANGZHOU 5.18 04/28/23 CNY 60.88
XIANGYANG CITY XIANGZHOU 5.18 04/28/23 CNY 60.66
XIANGYANG HIGH TECH STATE 7.00 05/29/21 CNY 23.38
XIANGYANG HIGH TECH STATE 7.00 05/29/21 CNY 20.42
XIANGYANG STATE-OWNED CAP 4.62 01/25/23 CNY 60.15
XIANGYANG STATE-OWNED CAP 4.62 01/25/23 CNY 59.97
XIANNING HIGH-TECH INVEST 6.29 02/10/22 CNY 45.00
XIANNING HIGH-TECH INVEST 6.29 02/10/22 CNY 40.60
XIANTAO CITY CONSTRUCTION 4.59 04/18/23 CNY 60.27
XIANTAO CITY CONSTRUCTION 4.59 04/18/23 CNY 59.95
XIANTAO CITY CONSTRUCTION 8.15 02/24/21 CNY 20.50
XIANTAO CITY CONSTRUCTION 8.15 02/24/21 CNY 20.45
XIAOGAN GAOCHUANG INVESTM 6.87 09/22/21 CNY 46.69
XIAOGAN GAOCHUANG INVESTM 6.87 09/22/21 CNY 40.46
XIAOGAN GAOCHUANG INVESTM 7.43 06/23/21 CNY 32.72
XIAOGAN GAOCHUANG INVESTM 7.43 06/23/21 CNY 20.52
XIAOGAN URBAN CONSTRUCTIO 3.94 07/05/21 CNY 63.12
XIAOGAN URBAN CONSTRUCTIO 6.89 05/29/21 CNY 20.51
XIAOXIAN COUNTY DEVELOPME 4.85 06/22/23 CNY 60.54
XIAOXIAN COUNTY DEVELOPME 4.85 06/22/23 CNY 60.42
XINDONGGANG HOLDING GROUP 5.53 04/27/23 CNY 60.16
XINDONGGANG HOLDING GROUP 5.53 04/27/23 CNY 59.81
XINGAN LEAGUE URBAN DEVEL 6.18 12/21/22 CNY 42.71
XINGAN LEAGUE URBAN DEVEL 6.18 12/21/22 CNY 41.82
XINGHUA CITY ECONOMIC DEV 5.28 06/13/22 CNY 49.71
XINGHUA CITY ECONOMIC DEV 5.28 06/13/22 CNY 49.21
XINGYI XINHENG URBAN CONS 5.40 12/16/22 CNY 60.00
XINGYI XINHENG URBAN CONS 5.40 12/16/22 CNY 58.46
XINJIANG KAIDI INVESTMENT 7.80 04/22/21 CNY 21.35
XINJIANG KAIDI INVESTMENT 7.80 04/22/21 CNY 20.40
XINMI CAIYUAN CITY CONSTR 4.35 02/28/23 CNY 59.83
XINMI CAIYUAN CITY CONSTR 4.35 02/28/23 CNY 59.81
XINMIN CITY LUXIN MUNICIP 6.41 07/29/21 CNY 34.44
XINMIN CITY LUXIN MUNICIP 6.41 07/29/21 CNY 33.49
XINTAI CITY COORDINATING 6.35 03/23/22 CNY 40.75
XINTAI CITY COORDINATING 6.35 03/23/22 CNY 40.73
XINYANG HONGCHANG PIPE GA 6.49 06/20/20 CNY 72.87
XINYANG HUAXIN INVESTMENT 7.55 04/15/21 CNY 26.30
XINYANG HUAXIN INVESTMENT 7.55 04/15/21 CNY 20.49
XINYI CITY INVESTMENT & D 4.30 01/19/23 CNY 60.00
XINYI CITY INVESTMENT & D 4.30 01/19/23 CNY 59.27
XINYI CITY INVESTMENT & D 7.39 10/15/20 CNY 20.32
XINYI CITY INVESTMENT & D 7.39 10/15/20 CNY 20.14
XINYI URBAN TRANSPORTATIO 6.14 02/06/22 CNY 41.53
XINYI URBAN TRANSPORTATIO 6.14 02/06/22 CNY 40.93
XINYU CHENGDONG CONSTRUCT 8.48 05/27/21 CNY 27.00
XINYU CITY SHANTYTOWN ZON 6.42 12/09/20 CNY 40.24
XINYU CITY YUSHUI DISTRIC 7.70 06/24/22 CNY 41.39
XINYU CITY YUSHUI DISTRIC 7.70 06/24/22 CNY 40.95
XINZHENG NEW DISTRICT DEV 6.40 01/29/21 CNY 25.25
XINZHOU ASSET MANAGEMENT 7.90 02/21/21 CNY 21.07
XINZHOU ASSET MANAGEMENT 7.90 02/21/21 CNY 20.37
XINZHOU ASSET MANAGEMENT 8.50 12/18/20 CNY 20.28
XIUSHAN INDUSTRY DEVELOPM 5.85 04/14/23 CNY 60.10
XIUSHAN INDUSTRY DEVELOPM 5.85 04/14/23 CNY 59.32
XIWANG GROUP CO LTD 7.80 12/03/22 CNY 49.94
XUANCHENG CITY ECONOMY DE 7.95 09/22/21 CNY 46.00
XUANCHENG CITY ECONOMY DE 7.95 09/22/21 CNY 40.78
XUANCHENG STATE-OWNED ASS 4.12 04/07/23 CNY 60.32
XUANCHENG STATE-OWNED ASS 4.12 04/07/23 CNY 60.15
XUANCHENG STATE-OWNED ASS 7.95 03/27/21 CNY 26.00
XUANCHENG STATE-OWNED ASS 7.95 03/27/21 CNY 20.67
XUZHOU BOCHANT DEVELOPMEN 5.69 07/28/21 CNY 66.34
XUZHOU CITY JIAWANG CONST 4.00 03/23/23 CNY 59.60
XUZHOU CITY TONGSHAN DIST 5.23 09/18/22 CNY 61.00
XUZHOU CITY TONGSHAN DIST 5.23 09/18/22 CNY 60.78
XUZHOU CITY TONGSHAN DIST 6.60 08/08/20 CNY 20.66
XUZHOU CITY TONGSHAN DIST 6.60 08/08/20 CNY 20.03
XUZHOU ECONOMIC TECHNOLOG 7.35 04/21/21 CNY 20.49
XUZHOU HI-TECH INDUSTRIAL 7.86 04/22/21 CNY 31.50
XUZHOU HI-TECH INDUSTRIAL 7.86 04/22/21 CNY 20.59
XUZHOU TRANSPORTATION HOL 7.09 05/15/21 CNY 21.00
XUZHOU TRANSPORTATION HOL 7.09 05/15/21 CNY 20.60
XUZHOU XINSHENG INVESTMEN 5.13 08/12/22 CNY 64.46
XUZHOU XINSHENG INVESTMEN 5.13 08/12/22 CNY 61.06
YA'AN DEVELOPMENT INVESTM 7.00 09/13/20 CNY 20.05
YA'AN DEVELOPMENT INVESTM 7.00 09/13/20 CNY 20.05
YANCHENG CITY TINGHU DIST 7.95 11/15/20 CNY 20.15
YANCHENG CITY TINGHU DIST 7.95 11/15/20 CNY 18.30
YANCHENG DAFENG DISTRICT 8.70 01/24/21 CNY 20.97
YANCHENG DAFENG DISTRICT 8.50 12/30/20 CNY 20.60
YANCHENG DAFENG DISTRICT 8.70 01/24/21 CNY 20.44
YANCHENG DAFENG DISTRICT 8.50 12/30/20 CNY 20.37
YANCHENG HIGH-TECH ZONE I 3.90 12/14/22 CNY 60.40
YANCHENG HIGH-TECH ZONE I 3.90 12/14/22 CNY 60.05
YANCHENG ORIENTAL INVESTM 6.48 09/15/21 CNY 40.33
YANCHENG SOUTH DISTRICT D 6.70 07/30/21 CNY 40.63
YANCHENG YANDU DISTRICT S 3.67 03/17/23 CNY 58.92
YANCHENG YANDU DISTRICT S 3.67 03/17/23 CNY 58.56
YANGJIANG HENGCAI CITY IN 6.24 04/14/22 CNY 41.17
YANGJIANG HENGCAI CITY IN 6.85 09/09/20 CNY 20.15
YANGJIANG HENGCAI CITY IN 6.85 09/09/20 CNY 20.07
YANGZHONG CITY INVESTMENT 5.15 06/03/23 CNY 60.95
YANGZHONG TRANSPORTATION 4.98 04/07/23 CNY 60.70
YANGZHONG TRANSPORTATION 4.98 04/07/23 CNY 60.43
YANGZHONG TRANSPORTATION 4.95 04/07/23 CNY 60.36
YANGZHONG TRANSPORTATION 4.95 04/07/23 CNY 59.55
YANGZHOU CHEMICAL INDUSTR 8.58 01/24/21 CNY 26.00
YANGZHOU CHEMICAL INDUSTR 8.58 01/24/21 CNY 20.40
YANGZHOU ECONOMIC & TECHN 7.40 03/05/21 CNY 40.89
YANGZHOU ECONOMIC & TECHN 7.40 03/05/21 CNY 40.00
YANGZHOU HANJIANG CONSTRU 5.88 06/15/22 CNY 46.63
YANGZHOU HANJIANG CONSTRU 5.88 06/15/22 CNY 41.14
YANGZHOU JIANGDU YANJIANG 7.48 07/29/20 CNY 25.03
YANGZHOU JIANGDU YANJIANG 7.48 07/29/20 CNY 25.00
YI CHENG CONSTRUCTION INV 5.44 04/27/23 CNY 60.03
YI ZHENG CITY DEVELOPMENT 4.63 01/08/23 CNY 60.00
YI ZHENG CITY DEVELOPMENT 4.63 01/08/23 CNY 59.99
YI ZHENG CITY DEVELOPMENT 8.60 01/09/21 CNY 29.30
YI ZHENG CITY DEVELOPMENT 8.60 01/09/21 CNY 20.30
YICHANG HIGH-TECH INVESTM 4.80 12/15/22 CNY 60.63
YICHANG HIGH-TECH INVESTM 4.80 12/15/22 CNY 60.00
YICHUN URBAN CONSTRUCTION 7.09 05/15/21 CNY 23.47
YICHUN URBAN CONSTRUCTION 7.09 05/15/21 CNY 20.47
YICHUN VENTURE CAPITAL CO 6.70 03/23/22 CNY 40.70
YICHUN VENTURE CAPITAL CO 6.70 03/23/22 CNY 40.61
YIHUA ENTERPRISE GROUP CO 7.00 04/29/22 CNY 54.00
YIHUA ENTERPRISE GROUP CO 6.80 03/15/21 CNY 47.99
YIHUA ENTERPRISE GROUP CO 5.99 11/26/20 CNY 30.00
YIHUA LIFESTYLE TECHNOLOG 6.88 07/16/20 CNY 35.90
YIHUA LIFESTYLE TECHNOLOG 6.88 07/23/20 CNY 35.00
YILI KAZAKH AUTONOMOUS PR 7.68 02/28/21 CNY 20.41
YINCHUAN URBAN CONSTRUCTI 6.88 05/12/21 CNY 20.53
YINGKOU COASTAL DEVELOPME 6.45 01/26/22 CNY 40.29
YINGKOU COASTAL DEVELOPME 6.45 01/26/22 CNY 39.17
YINGKOU LAOBIAN CITY CONS 4.98 03/11/23 CNY 60.00
YINGKOU LAOBIAN CITY CONS 5.63 12/16/22 CNY 60.00
YINGKOU LAOBIAN CITY CONS 5.63 12/16/22 CNY 59.79
YINGKOU LAOBIAN CITY CONS 4.98 03/11/23 CNY 58.48
YINGTAN INVESTMENT CO 3.63 08/12/21 CNY 69.99
YINGTAN INVESTMENT CO 7.50 12/12/22 CNY 46.85
YINGTAN INVESTMENT CO 7.50 12/12/22 CNY 46.85
YINGTAN LONGGANG ASSET OP 6.75 07/31/22 CNY 61.18
YINGTAN LONGGANG ASSET OP 6.75 07/31/22 CNY 60.90
YINING CITY STATE OWNED A 5.37 09/24/22 CNY 60.00
YINING CITY STATE OWNED A 5.37 09/24/22 CNY 59.85
YINING CITY STATE OWNED A 8.90 01/23/21 CNY 29.95
YINING CITY STATE OWNED A 8.90 01/23/21 CNY 20.51
YIWU CITY CONSTRUCTION IN 4.31 12/07/22 CNY 60.40
YIWU CITY CONSTRUCTION IN 4.31 12/07/22 CNY 60.27
YIWU URBAN & RURAL NEW CO 4.25 11/24/21 CNY 50.03
YIXING CITY CONSTRUCTION 6.16 03/30/22 CNY 41.10
YIXING CITY CONSTRUCTION 6.16 03/30/22 CNY 40.00
YIXING TUOYE INDUSTRIAL C 7.60 05/28/21 CNY 23.50
YIXING TUOYE INDUSTRIAL C 7.60 05/28/21 CNY 20.37
YIYANG ADVANCED INDUSTRY 7.00 03/30/22 CNY 48.00
YIYANG ADVANCED INDUSTRY 7.00 03/30/22 CNY 40.62
YONG ZHOU CITY CONSTRUCTI 7.30 10/23/20 CNY 20.13
YONGJIA INVESTMENT GROUP 6.50 11/12/21 CNY 40.69
YONGJIA INVESTMENT GROUP 6.50 11/12/21 CNY 40.00
YONGXING YINDU CONSTRUCTI 5.60 03/24/23 CNY 59.86
YONGXING YINDU CONSTRUCTI 5.60 03/24/23 CNY 59.42
YONGZHOU ECONOMIC CONSTRU 3.55 01/14/23 CNY 60.50
YONGZHOU ECONOMIC CONSTRU 3.55 01/14/23 CNY 59.30
YUANAN COUNTY QIFENG CITY 5.50 05/27/23 CNY 59.79
YUANAN COUNTY QIFENG CITY 5.50 05/27/23 CNY 59.79
YUEYANG CITY DONGTING NEW 6.15 03/20/22 CNY 40.39
YUEYANG CITY DONGTING NEW 6.15 03/20/22 CNY 40.18
YUEYANG HUILIN INVESTMENT 5.50 11/03/21 CNY 40.07
YUEYANG HUILIN INVESTMENT 5.50 11/03/21 CNY 40.00
YUEYANG YUNXI CITY CONSTR 6.00 07/08/23 CNY 78.50
YUEYANG YUNXI CITY CONSTR 6.00 07/08/23 CNY 60.28
YUHUAN CITY COMMUNICATION 5.65 11/03/21 CNY 44.50
YUHUAN CITY COMMUNICATION 6.18 03/20/22 CNY 44.47
YUHUAN CITY COMMUNICATION 6.18 03/20/22 CNY 40.83
YUHUAN CITY COMMUNICATION 5.65 11/03/21 CNY 40.55
YUHUAN CITY CONSTRUCTION 5.10 05/03/23 CNY 61.30
YUHUAN CITY CONSTRUCTION 5.10 05/03/23 CNY 60.50
YUNNAN METROPOLITAN CONST 6.77 05/23/21 CNY 20.50
YUYAO CITY CONSTRUCTION I 7.09 05/19/21 CNY 20.63
YUZHOU GENERAL INVESTMENT 4.68 01/19/23 CNY 60.09
YUZHOU GENERAL INVESTMENT 4.68 01/19/23 CNY 60.00
ZAOYANG CITY CONSTRUCTION 5.50 03/22/23 CNY 60.45
ZAOYANG CITY CONSTRUCTION 5.50 03/22/23 CNY 60.43
ZHANGJIAGANG FREE TRADE Z 7.10 08/23/20 CNY 26.04
ZHANGJIAGANG FREE TRADE Z 7.10 08/23/20 CNY 20.05
ZHANGJIAGANG JINCHENG INV 6.88 04/28/21 CNY 20.41
ZHANGJIAJIE ECONOMIC DEVE 7.80 04/17/21 CNY 20.50
ZHANGSHU STATE-OWNED ASSE 4.80 06/22/23 CNY 62.67
ZHANGSHU STATE-OWNED ASSE 4.80 06/22/23 CNY 60.14
ZHANGYE CITY INVESTMENT G 6.92 09/22/21 CNY 40.90
ZHANGYE CITY INVESTMENT G 6.92 09/22/21 CNY 40.70
ZHANGZHOU ECONOMIC DEVELO 6.17 04/27/22 CNY 40.93
ZHANGZHOU ECONOMIC DEVELO 6.17 04/27/22 CNY 40.00
ZHANGZHOU JIULONGJIANG GR 6.48 06/20/21 CNY 20.60
ZHANGZHOU JIULONGJIANG GR 6.48 06/20/21 CNY 20.47
ZHANJIANG INFRASTRUCTURE 6.93 10/21/20 CNY 20.15
ZHAOQING GAOYAO DISTRICT 6.68 04/14/22 CNY 41.28
ZHAOQING GAOYAO DISTRICT 6.68 04/14/22 CNY 40.00
ZHEJIANG BINHAI NEW CITY 4.65 12/23/22 CNY 60.49
ZHEJIANG BINHAI NEW CITY 4.65 12/23/22 CNY 60.00
ZHEJIANG CHANGXING JINGKA 7.99 03/03/21 CNY 30.00
ZHEJIANG CHANGXING JINGKA 7.99 03/03/21 CNY 20.40
ZHEJIANG GUOXING INVESTME 6.94 08/01/21 CNY 48.50
ZHEJIANG GUOXING INVESTME 6.94 08/01/21 CNY 40.52
ZHEJIANG HANGZHOU QINGSHA 7.90 04/23/21 CNY 24.00
ZHEJIANG HANGZHOU QINGSHA 7.90 04/23/21 CNY 20.63
ZHEJIANG HUISHENG INVESTM 4.49 03/15/24 CNY 70.03
ZHEJIANG HUISHENG INVESTM 4.49 03/15/24 CNY 70.00
ZHEJIANG OUHAI CONSTRUCTI 4.83 01/21/23 CNY 60.48
ZHEJIANG OUHAI CONSTRUCTI 4.83 01/21/23 CNY 60.00
ZHEJIANG OUHAI CONSTRUCTI 6.45 04/23/22 CNY 41.06
ZHEJIANG OUHAI CONSTRUCTI 6.45 04/23/22 CNY 40.00
ZHEJIANG PROVINCE XINCHAN 5.88 10/30/21 CNY 41.06
ZHEJIANG PROVINCE XINCHAN 6.95 12/31/21 CNY 41.03
ZHEJIANG PROVINCE XINCHAN 5.88 10/30/21 CNY 40.72
ZHENGZHOU JINGKAI INVESTM 5.48 07/31/22 CNY 61.03
ZHENGZHOU JINGKAI INVESTM 5.48 07/31/22 CNY 60.00
ZHENGZHOU MOUZHONG DEVELO 4.59 04/18/23 CNY 60.45
ZHENGZHOU MOUZHONG DEVELO 4.59 04/18/23 CNY 60.02
ZHENGZHOU MOUZHONG DEVELO 7.48 12/11/21 CNY 46.20
ZHENGZHOU MOUZHONG DEVELO 7.48 12/11/21 CNY 41.08
ZHENJIANG CITY CONSTRUCTI 7.90 12/18/20 CNY 28.50
ZHENJIANG CITY CONSTRUCTI 8.20 01/13/21 CNY 28.49
ZHENJIANG CITY CONSTRUCTI 8.20 01/13/21 CNY 20.39
ZHENJIANG CITY CONSTRUCTI 7.90 12/18/20 CNY 20.30
ZHENJIANG DANTU DISTRICT 5.89 11/03/21 CNY 40.13
ZHENJIANG DANTU DISTRICT 5.89 11/03/21 CNY 39.60
ZHENJIANG NEW AREA URBAN 5.31 07/14/23 CNY 60.81
ZHENJIANG NEW AREA URBAN 5.31 07/14/23 CNY 58.76
ZHENJIANG NEW AREA URBAN 8.35 02/26/21 CNY 20.36
ZHENJIANG NEW AREA URBAN 8.99 01/16/21 CNY 20.34
ZHIJIANG STATE-OWNED ASSE 4.38 03/28/23 CNY 64.70
ZHIJIANG STATE-OWNED ASSE 4.38 03/28/23 CNY 60.49
ZHIJIANG STATE-OWNED ASSE 4.78 01/11/23 CNY 60.00
ZHIJIANG STATE-OWNED ASSE 4.78 01/11/23 CNY 59.87
ZHONGGUANCUN DEVELOPMENT 4.20 08/12/22 CNY 60.42
ZHONGMINTOU LEASING HOLDI 7.55 09/21/21 CNY 49.49
ZHONGRONG XINDA GROUP CO 7.10 01/22/21 CNY 33.70
ZHONGSHAN TRANSPORTATION 5.25 11/26/21 CNY 40.49
ZHONGSHAN TRANSPORTATION 5.25 11/26/21 CNY 40.00
ZHONGTIAN FINANCIAL GROUP 7.00 10/15/20 CNY 23.88
ZHOUKOU INVESTMENT GROUP 7.49 04/21/21 CNY 20.27
ZHOUSHAN DINGHAI CITY CON 6.67 07/20/22 CNY 40.62
ZHOUSHAN DINGHAI STATE-OW 7.13 08/04/21 CNY 41.40
ZHOUSHAN DINGHAI STATE-OW 7.13 08/04/21 CNY 40.70
ZHOUSHAN DINGHAI STATE-OW 7.25 08/31/20 CNY 26.65
ZHOUSHAN DINGHAI STATE-OW 7.25 08/31/20 CNY 25.12
ZHOUSHAN ISLANDS NEW DIST 6.98 10/22/22 CNY 56.42
ZHOUSHAN ISLANDS NEW DIST 6.98 10/22/22 CNY 55.80
ZHOUSHAN PUTUO DISTRICT S 7.18 06/20/22 CNY 41.90
ZHOUSHAN PUTUO DISTRICT S 7.18 06/20/22 CNY 41.66
ZHUHAI HUIHUA INFRASTRUCT 4.70 06/27/23 CNY 60.63
ZHUHAI HUIHUA INFRASTRUCT 4.70 06/27/23 CNY 60.26
ZHUHAI HUIHUA INFRASTRUCT 7.15 09/17/20 CNY 21.15
ZHUHAI HUIHUA INFRASTRUCT 7.15 09/17/20 CNY 20.09
ZHUJI CITY YUEDU INVESTME 6.38 04/07/22 CNY 41.16
ZHUJI CITY YUEDU INVESTME 8.20 12/12/20 CNY 24.50
ZHUJI CITY YUEDU INVESTME 8.20 12/12/20 CNY 20.28
ZHUZHOU CITY CONSTRUCTION 8.36 11/10/21 CNY 43.75
ZHUZHOU CITY CONSTRUCTION 6.95 10/16/20 CNY 20.16
ZHUZHOU GECKOR GROUP CO L 6.95 08/11/21 CNY 40.86
ZHUZHOU GECKOR GROUP CO L 6.38 04/17/22 CNY 40.85
ZHUZHOU GECKOR GROUP CO L 6.95 08/11/21 CNY 40.55
ZHUZHOU GECKOR GROUP CO L 6.38 04/17/22 CNY 40.00
ZHUZHOU RECYCLING ECONOMI 4.38 03/24/23 CNY 57.46
ZHUZHOU RECYCLING ECONOMI 4.38 03/24/23 CNY 57.04
ZHUZHOU XIANGJIANG SCENIC 5.39 11/25/22 CNY 60.78
ZHUZHOU XIANGJIANG SCENIC 5.39 11/25/22 CNY 60.15
ZIBO BANYANG CITY URBAN A 5.50 09/09/22 CNY 60.42
ZIBO BANYANG CITY URBAN A 5.50 09/09/22 CNY 60.00
ZIYANG WATER INVESTMENT C 3.97 03/17/23 CNY 58.74
ZIYANG WATER INVESTMENT C 3.97 03/17/23 CNY 58.46
ZIYANG WATER INVESTMENT C 7.40 10/21/20 CNY 20.15
ZIYANG WATER INVESTMENT C 7.40 10/21/20 CNY 20.00
ZIZHONG COUNTY XINGZI INV 5.97 01/18/23 CNY 59.68
ZIZHONG COUNTY XINGZI INV 5.97 01/18/23 CNY 58.49
ZUNYI ECONOMIC DEVELOPMEN 4.87 01/22/23 CNY 60.00
ZUNYI ECONOMIC DEVELOPMEN 4.87 01/22/23 CNY 57.36
ZUNYI HONGHUAGANG CITY DE 5.05 06/27/23 CNY 59.03
ZUNYI HONGHUAGANG CITY DE 5.05 06/27/23 CNY 56.21
ZUNYI NEW DISTRICT DEVELO 5.99 04/07/26 CNY 69.70
ZUNYI NEW DISTRICT DEVELO 5.99 04/07/26 CNY 67.66
ZUNYI ROAD & BRIDGE CONST 6.10 04/27/23 CNY 57.96
ZUNYI ROAD & BRIDGE CONST 6.10 04/27/23 CNY 52.98
HONG KONG
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HNA GROUP INTERNATIONAL C 6.25 10/05/21 USD 75.00
DR PENG HOLDING HONGKONG 7.55 12/01/21 USD 71.48
INDIA
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ABM INVESTAMA TBK PT 7.13 08/01/22 USD 67.09
ABM INVESTAMA TBK PT 7.13 08/01/22 USD 65.58
BERAU COAL ENERGY TBK PT 7.25 03/13/17 USD 40.00
BERAU COAL ENERGY TBK PT 7.25 03/13/17 USD 40.00
DAVOMAS INTERNATIONAL FIN 11.00 05/09/11 USD 0.44
DAVOMAS INTERNATIONAL FIN 11.00 05/09/11 USD 0.44
DAVOMAS INTERNATIONAL FIN 11.00 12/08/14 USD 0.43
DAVOMAS INTERNATIONAL FIN 11.00 12/08/14 USD 0.43
DELTA MERLIN DUNIA TEKSTI 8.63 03/12/24 USD 10.92
DELTA MERLIN DUNIA TEKSTI 8.63 03/12/24 USD 10.78
GAJAH TUNGGAL TBK PT 8.38 08/10/22 USD 67.77
INDONESIA
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3I INFOTECH LTD 2.50 03/31/25 USD 4.27
AMPSOLAR SOLUTION PVT LTD 0.01 10/27/37 INR 24.80
AMPSOLAR SOLUTION PVT LTD 0.01 11/03/37 INR 24.76
APG HABITAT PVT LTD 1.00 09/09/28 INR 58.45
APG INTELLI HOMES PVT LTD 1.25 02/04/35 INR 42.31
APG INTELLI HOMES PVT LTD 1.25 02/04/35 INR 40.52
AUTOMOTIVE EXCHANGE PVT L 4.00 06/01/30 INR 61.94
AUTOMOTIVE EXCHANGE PVT L 4.00 10/11/30 INR 61.78
BRITANNIA INDUSTRIES LTD 8.00 08/28/22 INR 30.95
CREIXENT SPECIAL STEELS L 0.01 08/28/25 INR 66.57
CUMULUS TRADING CO PVT LT 0.01 01/23/30 INR 60.51
CUMULUS TRADING CO PVT LT 0.01 05/21/32 INR 37.55
DEWAN HOUSING FINANCE COR 8.50 04/18/23 INR 26.17
DLF EMPORIO RESTAURANTS L 0.01 06/29/30 INR 44.15
DLF HOME DEVELOPERS LTD 0.01 06/29/30 INR 46.92
EDELWEISS ASSET RECONSTRU 2.00 03/28/27 INR 69.72
EDELWEISS ASSET RECONSTRU 2.00 11/20/27 INR 67.38
EDELWEISS ASSET RECONSTRU 2.00 10/07/28 INR 64.09
EDELWEISS ASSET RECONSTRU 2.00 01/15/29 INR 63.13
EDELWEISS ASSET RECONSTRU 2.00 07/22/29 INR 61.38
FUTURE RETAIL LTD 5.60 01/22/25 USD 64.42
FUTURE RETAIL LTD 5.60 01/22/25 USD 58.28
GREEN URJA PVT LTD 0.01 02/14/30 INR 46.68
GTL INFRASTRUCTURE LTD 6.73 10/26/22 USD 4.00
HINDUSTAN CONSTRUCTION CO 0.01 01/05/27 INR 58.94
HITODI INFRASTRUCTURE LTD 0.01 06/30/27 INR 55.19
INDIABULLS HOUSING FINANC 6.38 05/28/22 USD 72.79
JAIPRAKASH ASSOCIATES LTD 5.75 09/08/17 USD 55.13
JAIPRAKASH POWER VENTURES 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 26.84
JTPM ATSALI LTD 0.01 08/29/48 INR 10.98
KANAKADURGA FINANCE LTD 0.01 04/15/36 INR 25.50
KRIBHCO INFRASTRUCTURE LT 1.00 04/15/26 INR 72.34
MARIS POWER SUPPLY CO PVT 2.00 04/18/28 INR 66.62
MYTRAH AADHYA POWER PVT L 0.01 07/05/35 INR 30.05
MYTRAH ADVAITH POWER PVT 0.01 07/13/36 INR 27.55
MYTRAH AKSHAYA ENERGY PVT 0.01 07/13/36 INR 27.55
ORIGAMI CELLULO PVT LTD 0.01 11/14/36 INR 26.42
PRAKASH INDUSTRIES LTD 5.25 04/30/15 USD 22.63
PUNJAB INFRASTRUCTURE DEV 0.40 10/15/26 INR 70.17
PUNJAB INFRASTRUCTURE DEV 0.40 10/15/27 INR 65.42
PUNJAB INFRASTRUCTURE DEV 0.40 10/15/28 INR 60.97
PUNJAB INFRASTRUCTURE DEV 0.40 10/15/29 INR 56.83
PUNJAB INFRASTRUCTURE DEV 0.40 10/15/30 INR 53.01
PUNJAB INFRASTRUCTURE DEV 0.40 10/15/31 INR 49.56
PUNJAB INFRASTRUCTURE DEV 0.40 10/15/32 INR 46.44
PUNJAB INFRASTRUCTURE DEV 0.40 10/15/33 INR 43.64
PYRAMID SAIMIRA THEATRE L 1.75 07/04/12 USD 0.26
R L FINE CHEM PVT LTD 0.10 08/19/36 INR 27.23
REDKITE CAPITAL PVT LTD 2.50 01/15/28 INR 69.66
REDKITE CAPITAL PVT LTD 2.50 03/30/29 INR 65.67
REI AGRO LTD 5.50 11/13/14 USD 0.56
REI AGRO LTD 5.50 11/13/14 USD 0.56
RELIANCE COMMUNICATIONS L 6.50 11/06/20 USD 11.64
SINTEX INDUSTRIES LTD 3.50 05/25/22 USD 48.63
SURBHI INVESTMENTS & TRAD 2.50 10/21/28 INR 67.08
SUZLON ENERGY LTD 5.75 07/16/19 USD 25.54
SUZLON ENERGY LTD 5.75 07/16/19 USD 25.54
SVOGL OIL GAS & ENERGY LT 5.00 08/17/15 USD 0.61
TN URJA PVT LTD 0.10 02/22/36 INR 29.18
VIDEOCON INDUSTRIES LTD 2.80 12/31/20 USD 30.25
WATSUN INFRABUILD PVT LTD 4.00 10/16/37 INR 56.26
WS T&D LTD 0.10 03/24/29 INR 50.57
ZYDUS FOUNDATION 0.10 03/25/25 INR 70.08
INDONESIA
---------
AVANSTRATE INC 0.10 10/29/32 JPY 9.75
TKJP CORP 0.58 03/26/21 JPY 2.02
TKJP CORP 0.85 03/06/19 JPY 2.02
TKJP CORP 1.02 12/15/17 JPY 0.50
UNIZO HOLDINGS CO LTD 0.99 11/27/26 JPY 73.14
UNIZO HOLDINGS CO LTD 1.20 05/28/27 JPY 67.88
UNIZO HOLDINGS CO LTD 1.50 11/26/27 JPY 66.72
SOUTH KOREA
-----------
ECOMAISTER CO LTD 2.00 10/11/22 KRW 60.98
HEUNGKUK FIRE & MARINE IN 5.70 12/29/46 KRW 46.42
KIBO ABS SPECIALTY CO LTD 5.00 09/11/20 KRW 75.01
KIBO ABS SPECIALTY CO LTD 5.00 08/28/21 KRW 72.52
KIBO ABS SPECIALTY CO LTD 5.00 02/24/22 KRW 71.76
KIBO ABS SPECIALTY CO LTD 5.00 02/28/22 KRW 70.93
KIBO ABS SPECIALTY CO LTD 5.00 02/24/23 KRW 69.67
KIBO ABS SPECIALTY CO LTD 5.00 02/26/21 KRW 63.39
LOTTE CARD CO LTD 3.95 06/28/49 KRW 38.65
POSCO ENERGY CO LTD 5.21 08/29/43 KRW 61.91
SAMPYO CEMENT CO LTD 8.10 06/26/15 KRW 70.00
SAMPYO CEMENT CO LTD 8.10 04/12/15 KRW 70.00
SAMPYO CEMENT CO LTD 8.30 09/10/14 KRW 70.00
SAMPYO CEMENT CO LTD 7.50 07/20/14 KRW 70.00
SAMPYO CEMENT CO LTD 8.30 04/20/14 KRW 70.00
SINBO SECURITIZATION SPEC 5.00 09/28/22 KRW 73.25
SINBO SECURITIZATION SPEC 5.00 06/29/22 KRW 73.15
SINBO SECURITIZATION SPEC 5.00 06/29/21 KRW 72.71
SINBO SECURITIZATION SPEC 5.00 12/27/21 KRW 71.61
SINBO SECURITIZATION SPEC 5.00 02/28/23 KRW 71.29
SINBO SECURITIZATION SPEC 5.00 03/20/23 KRW 71.14
SINBO SECURITIZATION SPEC 5.00 02/28/22 KRW 70.92
SINBO SECURITIZATION SPEC 5.00 07/24/23 KRW 69.29
SINBO SECURITIZATION SPEC 5.00 08/29/23 KRW 69.12
SINBO SECURITIZATION SPEC 5.00 08/29/23 KRW 69.12
SINBO SECURITIZATION SPEC 5.00 09/26/23 KRW 68.99
SINBO SECURITIZATION SPEC 5.00 09/26/23 KRW 68.99
SINBO SECURITIZATION SPEC 5.00 09/26/23 KRW 68.99
SINBO SECURITIZATION SPEC 5.00 01/25/23 KRW 68.82
SINBO SECURITIZATION SPEC 5.00 06/27/23 KRW 68.30
SINBO SECURITIZATION SPEC 5.00 08/29/22 KRW 67.10
SINBO SECURITIZATION SPEC 5.00 08/31/22 KRW 67.10
SINBO SECURITIZATION SPEC 5.00 09/26/22 KRW 67.08
SINBO SECURITIZATION SPEC 5.00 07/26/22 KRW 67.07
SINBO SECURITIZATION SPEC 5.00 07/24/22 KRW 67.07
SINBO SECURITIZATION SPEC 5.00 01/25/22 KRW 66.75
SINBO SECURITIZATION SPEC 5.00 01/26/22 KRW 66.74
SINBO SECURITIZATION SPEC 5.00 02/23/22 KRW 66.38
SINBO SECURITIZATION SPEC 5.00 06/27/22 KRW 66.06
SINBO SECURITIZATION SPEC 5.00 12/21/20 KRW 64.30
SINBO SECURITIZATION SPEC 5.00 08/31/21 KRW 64.09
SINBO SECURITIZATION SPEC 5.00 07/26/21 KRW 63.13
SINBO SECURITIZATION SPEC 5.00 03/21/21 KRW 62.72
SRI LANKA
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SRI LANKA DEVELOPMENT BON 5.66 05/01/23 USD 74.36
SRI LANKA DEVELOPMENT BON 4.57 01/22/23 USD 73.78
SRI LANKA DEVELOPMENT BON 4.38 01/22/23 USD 73.73
SRI LANKA DEVELOPMENT BON 4.35 03/16/23 USD 72.52
SRI LANKA DEVELOPMENT BON 4.26 05/01/23 USD 71.48
SRI LANKA DEVELOPMENT BON 4.22 05/01/23 USD 71.39
SRI LANKA DEVELOPMENT BON 6.87 01/22/25 USD 70.12
SRI LANKA DEVELOPMENT BON 6.75 01/22/25 USD 69.75
SRI LANKA DEVELOPMENT BON 6.50 01/22/25 USD 68.98
SRI LANKA DEVELOPMENT BON 6.02 01/22/25 USD 67.51
SRI LANKA DEVELOPMENT BON 5.98 01/22/25 USD 67.39
SRI LANKA DEVELOPMENT BON 4.90 01/22/25 USD 63.84
SRI LANKA GOVERNMENT INTE 5.75 04/18/23 USD 73.17
SRI LANKA GOVERNMENT INTE 5.75 04/18/23 USD 73.06
SRI LANKA GOVERNMENT INTE 6.85 03/14/24 USD 71.56
SRI LANKA GOVERNMENT INTE 6.85 03/14/24 USD 71.49
SRI LANKA GOVERNMENT INTE 6.35 06/28/24 USD 71.43
SRI LANKA GOVERNMENT INTE 6.35 06/28/24 USD 71.26
SRI LANKA GOVERNMENT INTE 6.85 11/03/25 USD 67.50
SRI LANKA GOVERNMENT INTE 6.13 06/03/25 USD 67.43
SRI LANKA GOVERNMENT INTE 6.85 11/03/25 USD 67.17
SRI LANKA GOVERNMENT INTE 6.13 06/03/25 USD 66.98
SRI LANKA GOVERNMENT INTE 6.83 07/18/26 USD 66.61
SRI LANKA GOVERNMENT INTE 6.83 07/18/26 USD 66.50
SRI LANKA GOVERNMENT INTE 7.85 03/14/29 USD 64.97
SRI LANKA GOVERNMENT INTE 7.85 03/14/29 USD 64.88
SRI LANKA GOVERNMENT INTE 6.20 05/11/27 USD 64.50
SRI LANKA GOVERNMENT INTE 6.20 05/11/27 USD 64.38
SRI LANKA GOVERNMENT INTE 6.75 04/18/28 USD 64.25
SRI LANKA GOVERNMENT INTE 6.75 04/18/28 USD 63.98
SRI LANKA GOVERNMENT INTE 7.55 03/28/30 USD 63.56
SRI LANKA GOVERNMENT INTE 7.55 03/28/30 USD 63.43
SRILANKAN AIRLINES LTD 7.00 06/25/24 USD 51.00
MALAYSIA
--------
AEON CREDIT SERVICE M BHD 3.50 09/15/20 MYR 0.85
ASIAN PAC HOLDINGS BHD 3.00 05/25/22 MYR 0.52
BERJAYA CORP BHD 5.00 04/22/22 MYR 0.24
BERJAYA CORP BHD 2.00 05/29/26 MYR 0.10
ELK-DESA RESOURCES BHD 3.25 04/14/22 MYR 1.01
HIAP TECK VENTURE BHD 5.00 06/23/21 MYR 0.16
HUME INDUSTRIES BHD 5.00 05/29/24 MYR 1.50
MALAYAN FLOUR MILLS BHD 5.00 01/24/24 MYR 1.01
PMB TECHNOLOGY BHD 3.00 07/12/23 MYR 2.62
SENAI-DESARU EXPRESSWAY B 1.35 12/31/29 MYR 74.53
SENAI-DESARU EXPRESSWAY B 1.35 06/28/30 MYR 73.38
SENAI-DESARU EXPRESSWAY B 1.35 12/31/30 MYR 72.10
SENAI-DESARU EXPRESSWAY B 1.35 06/30/31 MYR 70.84
VIZIONE HOLDINGS BHD 3.00 08/08/21 MYR 0.03
NEW ZEALAND
-----------
PRECINCT PROPERTIES NEW Z 4.80 09/27/21 NZD 1.17
PHILIPPINES
-----------
BAYAN TELECOMMUNICATIONS 15.00 07/15/06 USD 22.75
SINGAPORE
---------
ALAM SYNERGY PTE LTD 6.63 04/24/22 USD 50.54
APL REALTY HOLDINGS PTE L 5.95 06/02/24 USD 51.27
ASL MARINE HOLDINGS LTD 3.00 10/01/26 SGD 42.64
ASL MARINE HOLDINGS LTD 3.00 03/28/25 SGD 42.63
BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 0.50
BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 0.50
BERAU CAPITAL RESOURCES P 12.50 07/08/15 USD 39.54
BERAU CAPITAL RESOURCES P 12.50 07/08/15 USD 39.54
BLD INVESTMENTS PTE LTD 8.63 03/23/15 USD 4.88
BLUE OCEAN RESOURCES PTE 8.00 12/31/21 USD 28.97
BLUE OCEAN RESOURCES PTE 8.00 12/31/21 USD 28.97
BLUE OCEAN RESOURCES PTE 8.00 12/31/21 USD 28.97
ENERCOAL RESOURCES PTE LT 9.25 08/05/14 USD 45.75
ETERNA CAPITAL PTE LTD 7.50 12/11/22 USD 50.67
ETERNA CAPITAL PTE LTD 8.00 12/11/22 USD 27.38
EZRA HOLDINGS LTD 4.88 04/24/18 SGD 5.00
GEO COAL INTERNATIONAL PT 8.00 10/04/22 USD 51.89
GEO COAL INTERNATIONAL PT 8.00 10/04/22 USD 46.51
GOLDEN ENERGY & RESOURCES 9.00 02/14/23 USD 73.94
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 GROUP 2.00 07/30/10 USD 1.00
INNOVATE CAPITAL PTE LTD 6.00 12/11/24 USD 31.05
ITNL OFFSHORE PTE LTD 7.50 01/18/21 CNY 15.00
JGC VENTURES PTE LTD 10.75 08/30/21 USD 77.65
MICLYN EXPRESS OFFSHORE P 8.75 11/25/18 USD 22.55
MODERNLAND OVERSEAS PTE L 6.95 04/13/24 USD 29.23
MULHACEN PTE LTD 6.50 08/01/23 EUR 41.76
MULHACEN PTE LTD 6.50 08/01/23 EUR 41.30
NT RIG HOLDCO PTE LTD 7.50 12/20/21 USD 59.92
ORO NEGRO DRILLING PTE LT 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 67.56
SOECHI CAPITAL PTE LTD 8.38 01/31/23 USD 62.17
SSMS PLANTATION HOLDINGS 7.75 01/23/23 USD 46.62
SWIBER CAPITAL PTE LTD 6.50 08/02/18 SGD 4.20
SWIBER CAPITAL PTE LTD 6.25 10/30/17 SGD 4.20
SWIBER HOLDINGS LTD 5.55 10/10/16 SGD 12.25
SWIBER HOLDINGS LTD 7.75 09/18/17 CNY 7.75
SWIBER HOLDINGS LTD 7.13 04/18/17 SGD 7.75
THAILAND
--------
MDX PCL 4.75 09/17/03 USD 22.88
G STEEL PCL 3.00 10/04/15 USD 0.55
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter-Asia Pacific is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Marites O. Claro, Joy A. Agravante, Rousel Elaine T. Fernandez,
Julie Anne L. Toledo, Ivy B. Magdadaro and Peter A. Chapman,
Editors.
Copyright 2020. All rights reserved. ISSN: 1520-9482.
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