/raid1/www/Hosts/bankrupt/TCRAP_Public/201110.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, November 10, 2020, Vol. 23, No. 225
Headlines
A U S T R A L I A
ALICE MCCALL: First Creditors' Meeting Set for Nov. 18
DRAMA UNIT: First Creditors' Meeting Set for Nov. 16
ONECHAT PTY: First Creditors' Meeting Set for Nov. 18
PEPPER RESIDENTIAL No.28: S&P Assigns Prelim B+ Rating on F Notes
YELM & CO: First Creditors' Meeting Set for Nov. 17
C H I N A
CHINA EVERGRANDE: Scraps Shenzhen Listing, Strikes Investor Deals
CIFI HOLDINGS: S&P Assigns 'BB-' Rating to USD Sr. Unsec. Notes
I N D I A
ANALYSER INSTRUMENT: ICRA Keeps B+ Rating in Not Cooperating
ANIL KUMAR: Ind-Ra Cuts LT Issuer Rating to BB-, Outlook Stable
ANISHKA DEVELOPERS: ICRA Cuts Rating on INR40cr Term Loan to B+
ARENA SUPERSTRUCTURES: Insolvency Resolution Process Case Summary
ART & CRAFTS: ICRA Withdraws B+ Rating on INR7.50cr LT Loan
ARTEMIS AUTO: Ind-Ra Lowers Long Term Issuer Rating to D
BABA CONSTRUCTION: ICRA Withdraws B+ Rating on INR125cr Loans
BHARATH AGRO: ICRA Withdraws B+ Rating on INR5cr LT Loan
BHUPTANI ASSOCIATES: Ind-Ra Keeps BB- Rating in Non-Cooperating
BRIGHTSTAR INFRASTRUCTURE: ICRA Cuts Rating on INR40cr Loan to B+
CHAITANYA CHEMICALS: ICRA Lowers Rating on INR5.50cr Loan to B+
CHAMARIA INFRASTRUCTURES: Ind-Ra Affirms D Long Term Issuer Rating
CLAVECON PRIVATE: Ind-Ra Affirms B+ Issuer Rating, Outlook Stable
CMM INFRAPROJECTS: Insolvency Resolution Process Case Summary
EVAN MULTI: ICRA Keeps D Debt Ratings in Not Cooperating
GEETANJALI AGRO: ICRA Keeps B+ Debt Ratings in Not Cooperating
GOODWIN PACKPET: Insolvency Resolution Process Case Summary
GSCO INFRASTRUCTURE: ICRA Keeps D Debt Ratings in Not Cooperating
IBD UNIVERSAL: ICRA Keeps D Debt Ratings in Not Cooperating
JONNA STEELS: ICRA Migrates B+ Debt Ratings to Not Cooperating
K V DEVELOPERS: Insolvency Resolution Process Case Summary
KIRAN INDUSTRIES: Ind-Ra Cuts Issuer Rating to BB, Outlook Stable
KRISHNA TIMBER: ICRA Keeps B Debt Ratings in Not Cooperating
LAKSHMI VILAS: Bank Needs Urgent Capital Infusion, Auditor Says
LAXMI BALAJI: ICRA Keeps B+ Debt Ratings in Not Cooperating
MADHUCON SUGAR: ICRA Keeps D Debt Ratings in Not Cooperating
MARIAN PROJECTS: ICRA Lowers Rating on INR9.50cr Term Loan to B+
MOON RIVER: Insolvency Resolution Process Case Summary
NIRMAN CONSTRUCTION: Ind-Ra Moves 'D' Rating to Non-Cooperating
P. PERICHI GOUNDER: Ind-Ra Moves D Issuer Rating to NonCooperating
PIYUSH IT SOLUTIONS: Insolvency Resolution Process Case Summary
POLARIS LIQUOR: ICRA Lowers Rating on INR32.50cr LT Loan to B+
RAVI MICRONS: ICRA Withdraws B+ Rating on INR9cr Term Loan
RENATA PRECISION: Ind-Ra Lowers Long Term Issuer Rating to BB+
SANDEEP RICE: ICRA Keeps B Debt Rating in Not Cooperating
SANJAY DANCHAND: Ind-Ra Affirms BB+ Term Loan Rating
SARJAN INFRACON: ICRA Lowers Rating on INR4cr Cash Loan to B+
SAYAJI PACKAGING: ICRA Keeps B Debt Ratings in Not Cooperating
SEGAM TILES: ICRA Lowers Rating on INR30cr Term Loan to B+
SHAKTI AGRO: ICRA Keeps C+ Debt Ratings in Not Cooperating
SHANTAN INNOVATIONS: Insolvency Resolution Process Case Summary
SHRISHTI TECHNOLOGIES: ICRA Keeps B+ Rating in Not Cooperating
SITARAM MAHARAJ: ICRA Keeps D Debt Ratings in Not Cooperating
SPACETECH EQUIPMENTS: ICRA Keeps D Ratings in Not Cooperating
SPECIALITY SILICA: Ind-Ra Lowers Long Term Issuer Rating to BB-
SPICEJET LTD: Gets Payment Reprieve from India's Supreme Court
SUNSHINE EDIBLE: ICRA Keeps B+ Debt Ratings in Not Cooperating
SUVARNA LAKSHMI: ICRA Keeps B+ Debt Ratings in Not Cooperating
SWAPNA PRINTING: Ind-Ra Lowers Long Term Issuer Rating to BB
TEAM KRIAN: ICRA Lowers Rating on INR15cr LT Loan to B+
THAKAR DASS: ICRA Keeps B+ Debt Ratings in Not Cooperating
THERMOSET POLY: ICRA Keeps D Debt Ratings in Not Cooperating
UNION ENTERPRISES: ICRA Keeps D Debt Ratings in Not Cooperating
VEEPEE COTEX: ICRA Keeps B Debt Ratings in Not Cooperating
VIPUL INDUSTRIES: ICRA Lowers Rating on INR3.57cr Loan to B+
VR FOUNDRIES: Ind-Ra Assigns 'B-' LT Issuer Rating, Outlook Stable
I N D O N E S I A
MNC INVESTAMA: Noteholders OK Scheme to Restructure US$231MM Notes
N E W Z E A L A N D
TICKET ROCKET: Owes Millions, Receivers Question Company's Books
P H I L I P P I N E S
WIRECARD: Philippine Authorities Probe Transactions of Law Office
X X X X X X X X
[*] BOND PRICING: For the Week Nov. 2, 2020 to Nov. 6, 2020
- - - - -
=================
A U S T R A L I A
=================
ALICE MCCALL: First Creditors' Meeting Set for Nov. 18
------------------------------------------------------
A first meeting of the creditors in the proceedings of Alice McCall
Pty Ltd will be held on Nov. 18, 2020, at 2:30 p.m. via
teleconference facilities.
Ian James Purchas and Jason Lloyd Porter of SV Partners were
appointed as administrators of Alice McCall on Nov. 8, 2020.
DRAMA UNIT: First Creditors' Meeting Set for Nov. 16
----------------------------------------------------
A first meeting of the creditors in the proceedings of Drama Unit
Pty Ltd will be held on Nov. 16, 2020, at 12:00 p.m. via virtual
meeting.
Steve Naidenov -- snaidenov@astoncg.com.au -- and Ian Niccol --
iniccol@astoncg.com.au -- of Aston Chace Group were appointed as
administrators of Drama Unit on Nov. 4, 2020.
ONECHAT PTY: First Creditors' Meeting Set for Nov. 18
-----------------------------------------------------
A first meeting of the creditors in the proceedings of Onechat Pty
Ltd will be held on Nov. 18, 2020, at 11:00 a.m. at the offices of
BRI Ferrier, Level 8, 50 Pirie Street, in Adelaide, SA.
Andrejs Janis Strazdins of BRI Ferrier was appointed as
administrator of Onechat Pty on Nov. 6, 2020.
PEPPER RESIDENTIAL No.28: S&P Assigns Prelim B+ Rating on F Notes
-----------------------------------------------------------------
S&P Global Ratings assigned its preliminary ratings to eight
classes of nonconforming and prime residential mortgage-backed
securities (RMBS) to be issued by Permanent Custodians Ltd. as
trustee of Pepper Residential Securities Trust No.28. Pepper
Residential Securities Trust No.28 is a securitization of
nonconforming and prime residential mortgages originated by Pepper
Homeloans Pty Ltd.
The preliminary ratings reflect:
-- S&P's view of the credit risk of the underlying collateral
portfolio, including its view that the credit support is sufficient
to withstand the stresses it applies. The credit support for the
rated notes comprises note subordination and excess spread. The
assessment of credit risk takes into account the underwriting
standard and centralized approval process of the seller, Pepper
Homeloans.
-- The availability of a retention amount, amortization amount,
and yield reserve, which will all be funded by excess spread, but
at various stages of the transaction's term. They will have
separate functions and timeframes, including reducing the balance
of senior notes, reducing the balance of the most subordinated
notes, and paying senior expenses and interest shortfalls on the
rated notes.
-- S&P's expectation that the various mechanisms to support
liquidity within the transaction, including a liquidity facility
equal to 2.5% of the outstanding balance of the notes, and
principal draws, are sufficient under our stress assumptions to
ensure timely payment of interest.
-- The condition that a minimum margin will be maintained on the
assets.
-- That S&P also has factored into its ratings the legal structure
of the trust, which has been established as a special-purpose
entity and meets its criteria for insolvency remoteness.
-- That loss of income for borrowers in the coming months due to
the effects of COVID-19 will likely put upward pressure on mortgage
arrears. S&P said, "We have recently updated our outlook
assumptions for Australian RMBS in response to changing
macroeconomic conditions as a result of the COVID-19 outbreak. We
have also applied a range of additional stresses in our analysis to
assess the rated notes' sensitivity to liquidity stress and the
possibility of higher arrears. As of Sept. 30, 2020, borrowers with
COVID-19 related hardship arrangements make up 5.81% of the closing
pool balance."
S&P Global Ratings acknowledges a high degree of uncertainty about
the evolution of the coronavirus pandemic. The consensus among
health experts is that the pandemic may now be at, or near, its
peak in some regions but will remain a threat until a vaccine or
effective treatment is widely available, which may not occur until
the second half of 2021. S&P said, "We are using this assumption in
assessing the economic and credit implications associated with the
pandemic. As the situation evolves, we will update our assumptions
and estimates accordingly."
PRELIMINARY RATINGS ASSIGNED
Pepper Residential Securities Trust No.28
Class Rating Amount (mil. A$)
A1-s AAA (sf) 162.50
A1-a AAA (sf) 400.00
A2 AAA (sf) 93.00
B AA (sf) 37.50
C A (sf) 24.00
D BBB (sf) 13.50
E BB (sf) 7.80
F B+ (sf) 4.20
G NR 7.50
NR--Not rated.
YELM & CO: First Creditors' Meeting Set for Nov. 17
---------------------------------------------------
A first meeting of the creditors in the proceedings of Yelm & Co.
Pty Ltd will be held on Nov. 17, 2020, at 11:00 a.m. at the offices
of SM Solvency Accountants, Level10/144 Edward Street, in Brisbane,
Queensland.
Brendan Nixon of SM Solvency Accountants was appointed as
administrator of Yelm & Co. on Nov. 6, 2020.
=========
C H I N A
=========
CHINA EVERGRANDE: Scraps Shenzhen Listing, Strikes Investor Deals
-----------------------------------------------------------------
Bloomberg News reports that China Evergrande Group scrapped plans
for a backdoor listing in China and struck deals with more
investors to avoid a wave of repayments, capping a four-year saga
that had recently raised fears of cash crunch at the world's most
indebted developer.
While it was widely anticipated that Evergrande would fail to win
regulatory approval for its listing, the deal's demise underscored
China's focus on containing risks posed by fast-growing real estate
and financial firms, Bloomberg says. Evergrande's announcement came
less than a week after the shock suspension of Ant Group Co.'s
blockbuster initial public offering.
Bloomberg says the fate of the backdoor listing was a key concern
for Evergrande earlier this year because the company had promised
to repay strategic investors as much as CNY130 billion ($19.7
billion) if regulators didn't approve the transaction by Jan. 31.
But after worries of a liquidity squeeze caused Evergrande's shares
and bonds to tumble at the end of September, the developer reached
agreements with investors to avoid CNY86.3 billion of repayments.
According to Bloomberg, Evergrande said on Nov. 8 it had completed
negotiations with investors holding a further CNY35.7 billion,
without disclosing details of the agreements. The announcement
suggested Evergrande's short-term liquidity challenges will ease,
but there are still questions over what promises the company made
to holdouts.
"There may be a commitment to a guaranteed return for these
strategic investors," Chuanyi Zhou, a credit analyst at Lucror
Analytics in Singapore, wrote in a report, Bloomberg relays.
Evergrande shares rose 2.3% at 1:06 p.m. in Hong Kong, after
swinging between gains and losses in the morning session. The
company's 8.25% dollar bond due 2022 fell 0.2 cent to 87.7 cents,
according to prices compiled by Bloomberg. Shenzhen Special
Economic Zone, which has been halted during the four years the plan
has been in limbo, rose 6.4% as trading resumed Nov. 9.
Bloomberg Intelligence analysts Kristy Hung and Patrick Wong said:
"Evergrande's failure to list in China means that to cut net debt
to equity to 100% it may need to rely on equity placements in Hong
Kong, asset sales and more price cuts. While rolling over another
CNY36 billion of strategic investments could ease near-term cash
flow pressure, risks to earnings persist from potential dilutions,
falling margins and gloomy medium-term growth."
Under the backdoor listing plan, Evergrande would have sold its
Hengda Real Estate unit, which owns most of its real estate assets
in China, to Shenzhen Special Economic Zone Real Estate &
Properties Group, a Shenzhen-listed shell company, Bloomberg
states.
As part of the planned listing, Evergrande in 2017 introduced
CNY130 billion of strategic investment to Hengda, and promised
investors they would be repaid in cash or other forms if the
listing wasn't completed by January 2021, Bloomberg recalls. The
investments boosted Evergrande's valuation, but risked a cash
crunch should the listing be delayed or fail.
As the deadline neared, the developer warned Chinese officials it
faced a potential default that would lead to "cross defaults" in
its borrowings, according to an Aug. 24 letter to the Guangdong
government seen by Bloomberg. Evergrande said the letter was a
fabrication.
Bloomberg relates that the developer has since raised cash through
asset sales and is seeking approval for a Hong Kong listing of its
property management services unit, easing concern about its ability
to service its near-term debt. However, doubts remain about the
company's long-term financial strength.
"In the longer term, Evergrande's credit outlook depends on whether
it can cut debt faster than it matures and adjust its business to a
more sustainable level," Bloomberg quotes Hao Yang, an analyst at
Nanjing Securities, as saying.
About China Evergrande
China Evergrande Group is an integrated residential property
developer. The Company, through its subsidiaries, operates in
property development, investment, management, finance, internet,
health, culture, and tourism markets.
As reported in the Troubled Company Reporter-Asia Pacific on Sept.
17, 2020, Fitch Ratings has affirmed the Long-Term Foreign-Currency
Issuer Default Ratings of China Evergrande Group and subsidiary
Hengda Real Estate Group Co., Ltd at 'B+' with Stable Outlooks. At
the same time, Fitch has affirmed Evergrande's senior unsecured
rating at 'B' with a Recovery Rating of 'RR5'. Fitch has also
assigned Hengda's wholly owned offshore financing platform, Tianji
Holdings Limited, a Long-Term IDR of 'B+' with Stable Outlook and a
senior unsecured rating of 'B' with a Recovery Rating of 'RR5'.
The Tianji-guaranteed senior unsecured notes issued by Scenery
Journey Limited have been downgraded to 'B' with a Recovery Rating
of 'RR5', from 'B+' with a Recovery Rating of 'RR4', to reflect
Fitch's revised rating approach, whereby the bond rating is linked
to Tianji, the guarantor, rather than Hengda, the keepwell
provider. Fitch affirmed Hengda's 'B+' senior unsecured rating with
a Recovery Rating of 'RR4' and then withdrew the rating because the
senior unsecured rating was no longer relevant to the agency's
coverage.
The affirmation of Evergrande's and Hengda's IDRs reflects the
group's large business scale and diversification, but higher
leverage and weaker liquidity than that of peers. The Stable
Outlook reflects the expectation that the Evergrande will be able
to deleverage after 2020, with improving contracted sales and
collection ratio, as well as its stated intention to reduce land
acquisitions. In addition, the Stable Outlook also reflects its
expectation that Evergrande will be able to negotiate with Hengda's
strategic investors not to redeem the CNY130 billion investment in
early 2021.
On Sept. 24, 2020, S&P Global Ratings revised the outlooks on China
Evergrande Group, the company's property arm Hengda Real Estate
Group Co. Ltd., and offshore financial platform Tianji Holding Ltd.
to negative from stable. At the same time, S&P affirmed its 'B+'
long-term issuer credit ratings on the three companies and its 'B'
long-term issue rating on the U.S. dollar notes issued by
Evergrande and guaranteed by Tianji.
CIFI HOLDINGS: S&P Assigns 'BB-' Rating to USD Sr. Unsec. Notes
---------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' long-term issue rating to the
U.S. dollar-denominated senior unsecured notes proposed by CIFI
Holdings (Group) Co. Ltd. (BB/Stable/--). Proceeds from the
issuance will mainly be used for refinancing. The China-based
property developer has also announced a tender offer ranging from
100% to 102% on its three outstanding U.S. dollar bonds due in 2021
to proactively manage its maturity profile.
S&P said, "We rate the proposed issue one notch below the issuer
credit rating on CIFI to reflect the subordination risk. As of June
30, 2020, the company's capital structure consisted of about
Chinese renminbi (RMB) 43.4 billion in secured debt out of total
debt of RMB119.7 billion, and RMB29.4 billion in subsidiary-level
unsecured debt and guarantees. As a result, the company's priority
debt is about RMB72.8 billion, and the ratio of priority debt to
total debt is 60%, above our threshold of 50% for notching down an
issue rating.
"We expect CIFI will continue to expand its sales scale at a
moderate pace with controlled debt growth. The company's recovery
from the COVID-19 fallout has picked up, with contracted sales for
the first nine months of 2020 reaching RMB154 billion, a 13%
year-on-year increase. This is reflected in our stable outlook on
the rating on CIFI."
The issue rating is subject to S&P's review of the final issuance
=========
I N D I A
=========
ANALYSER INSTRUMENT: ICRA Keeps B+ Rating in Not Cooperating
------------------------------------------------------------
ICRA said the ratings for the INR14.00 crore bank facilities of
Analyser Instrument Company Private Limited continue to remain in
the 'Issuer Not Cooperating' category. The ratings are denoted as
"[ICRA]B+ (Stable)/A4 ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund-based- 1.00 [ICRA]B+ (Stable) ISSUER NOT
Working Capital COOPERATING; Rating continues
Facility to remain under 'Issuer Not
Cooperating' category
Non fund- 13.00 [ICRA]A4; ISSUER NOT
Based–Short COOPERATING; Rating continues
Term to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis dated information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity.
Incorporated in 1996, AICPL provides turnkey solutions for
pollution control-detection systems, mainly for the public sector
undertakings including large refineries and power plants. The main
products include different types of analyser systems and
instruments like water analysers, gas analysers, dust monitors etc.
The company was promoted by Mr. Satyendra Kumar Gupta, Mrs. Pushpa
Gupta, Mrs. Rupa Singhal and Mr. Sanjeev Kumar Gupta, who have an
experience of over a decade in the industry. The
office-cum-manufacturing facility of the company is located in
Kota, Rajasthan.
ANIL KUMAR: Ind-Ra Cuts LT Issuer Rating to BB-, Outlook Stable
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Anil Kumar &
Company's (AKCO) Long-Term Issuer Rating to 'IND BB-' from 'IND
BB'. The Outlook is Stable.
The instrument-wise rating actions are:
-- INR50 mil. Fund-based working capital limits downgraded with
IND BB-/Stable rating; and
-- INR409.8 mil. Non-fund-based working capital limits affirmed
with IND A4+ rating.
KEY RATING DRIVERS
The downgrade reflects AKCO's small scale of operations as evident
from the 64.73% yoy fall in its revenue to INR223.93 million in
FY20 mainly due to fewer work orders executed by the firm along
with the delays in payment from government departments. AKCO
reported revenue of INR121.82 million in 6MFY21. FY20 financials
are provisional in nature.
The ratings also reflect AKCO's deteriorated credit metrics in FY20
with the interest coverage (operating EBITDA/gross interest
expense) of 1.27x (FY19: 1.68x) and the net leverage (adjusted net
debt/operating EBITDA) of 6.36x (2.09x). The deterioration in the
credit metrics in FY20 was due to a decline in the absolute EBITDA
levels (FY20: INR34.15 million; FY19: INR65.48 million) along with
an increase in the total debt due to the firm's increased working
capital utilization.
The ratings also factor in the firm's modest EBITDA margin even as
they improved to 15.25% in FY20 (FY19: 10.31%) due to a decline in
the cost of raw material consumed during the period. The return on
capital employed stood at 5% in FY20 (FY19: 10%).
The ratings are constrained by AKCO's high geographical and
customer concentration, as 81% of its pending orders are from Uttar
Pradesh from U.P. Rajkiya Nirman Nigam Ltd.
Liquidity Indicator – Poor: AKCO's average maximum utilization of
fund-based limits was 79.95% for the 12 months ended September
2020. The firm's cash flow from operations turned negative at
INR71.82 million in FY20 (FY19: positive INR149.64 million) due to
the reduced absolute EBITDA and increased working capital
requirement. Also, AKCO's free cash flow turned negative to
INR74.01 million in FY20 (FY19: positive INR148.64 million).
Furthermore, its net cash cycle deteriorated to 333 days in FY20
(FY19: 75 days) on account of an increase in the average inventory
days and average receivable days. Additionally, the firm had
unencumbered cash of INR0.93 million in FY20 (FY19: INR21.08
million). The firm does not have any capital market exposure and
relies on banks and financial institutions to meet its funding
requirements. AKCO availed the Reserve Bank of India-prescribed
moratorium for its bank facilities over March-August 2020.
However, the ratings continue to be supported by the partners'
experience of around three decades in the civil construction
business.
RATING SENSITIVITIES
Positive: The timely execution of the projects will be positive for
the ratings.
Negative: A decline in the scale of operations leading to
deterioration in the overall credit metrics and/or any further
weakening of the liquidity profile, will be negative for the
ratings.
COMPANY PROFILE
Established in 1986 as a partnership concern, Uttar Pradesh-based
AKCO primarily undertakes electrical and civil contracts for state
government entities in Uttar Pradesh. The scope of work includes
construction of road, buildings, water supply, drainage, sewerage
lines and water treatment facilities. Anil Kumar Gupta and Gyan
Prakash Goel are the promoters.
ANISHKA DEVELOPERS: ICRA Cuts Rating on INR40cr Term Loan to B+
---------------------------------------------------------------
ICRA has revised the ratings on certain bank facilities of Anishka
Developers Private Limited, as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 40.00 [ICRA]B+ (Stable) ISSUER NOT
Term Loan COOPERATING; Rating downgraded
from [ICRA]BB-(Stable) and
continues to remain under
'Issuer Not Cooperating'
Category
Rationale
The rating downgrade is because of lack of adequate information
regarding Anishka Developers Private Limited performance and hence
the uncertainty around its credit risk. ICRA assesses whether the
information available about the entity is commensurate with its
rating and reviews the same as per its "Policy in respect of
non-cooperation by a rated entity" available at www.icra.in. The
lenders, investors and other market participants are thus advised
to exercise appropriate caution while using this rating as the
rating may not adequately reflect the credit risk profile of the
entity, despite the downgrade.
As part of its process and in accordance with its rating agreement
with Anishka Developers Private Limited, ICRA has been trying to
seek information from the entity so as to monitor its performance,
but despite repeated requests by ICRA, the entity's management has
remained non-cooperative. In the absence of requisite information
and in line with the aforesaid policy of ICRA, a rating view has
been taken on the entity based on the best available information.
Anishka Developers Private Limited was incorporated in 2014 for
construction of residential projects. ADPL, in February 2015 has
launched residential cum commercial project "Green Park" in Kondhwa
in the south west region of Pune. The company is promoted by Mr.
Kamal Bhatia who has promoted the Capricorn group. Capricorn group
has been involved in execution of real estate projects since 1980.
Apart from India, the group has executed real estate projects in UK
and Dubai (UAE).
ARENA SUPERSTRUCTURES: Insolvency Resolution Process Case Summary
-----------------------------------------------------------------
Debtor: Arena Superstructures Private Limited
Flat No. 14, Ground Floor
Pul Pehlad Pur, DDA MIG
Suraj Apartment
New Delhi 110044
Insolvency Commencement Date: October 29, 2020
Court: National Company Law Tribunal, Principal Bench, New Delhi
Estimated date of closure of
insolvency resolution process: April 27, 2021
Insolvency professional: Pawan Kumar Singal
Interim Resolution
Professional: Pawan Kumar Singal
MP-114, Pitam Pura
Delhi 110034
E-mail: pawansingal50@gmail.com
- and -
AVM Resolution Professionals LLP (IPE)
8/28, 3rd Floor, W.E.A.
Abdul Aziz Road
Karol Bagh
New Delhi 110005
E-mail: cirp.arenahomebuyer@
avmresolution.com
cirp.arena@avmresolution.com
Classes of creditors: Home Buyers under the Real Estate Project
(Financial Creditors) of the Corporate
Debtor
Insolvency
Professionals
Representative of
Creditors in a class: Mr. Bhim Sain Goyal
Mr. Sandeep Khanna
Mr. Rajiv Malik
Last date for
submission of claims: November 16, 2020
ART & CRAFTS: ICRA Withdraws B+ Rating on INR7.50cr LT Loan
-----------------------------------------------------------
ICRA has withdrawn the ratings on certain bank facilities of Art &
Crafts Inc. (ACI), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-Term: 7.50 [ICRA]B+ (Stable); ISSUER NOT
Cash Credit COOPERATING; Withdrawn
Short Term: 14.50 [ICRA]A4; ISSUER NOT
Non fund- COOPERATING; Withdrawn
Based limits
Rationale
The long-term and short-term ratings assigned to ACI have been
withdrawn at the request of the company and based on the No
Objection Mail received from the banker, and in accordance with
ICRA's policy on withdrawal and suspension. ICRA is withdrawing the
rating and it does not have information to suggest that the credit
risk has changed since the time the rating was last reviewed.
Key rating drivers and their description
Key rating drivers have not been captured as the rating is being
withdrawn.
Liquidity position
Not captured as the rating is being withdrawn.
Rating sensitivities
Not captured as the rating is being withdrawn.
Incorporated in 2000, Art & Crafts Inc. (ACI) is a proprietorship
concern engaged in the export of modern and antique wooden
furniture. The entity has production facilities based in Jodhpur
and markets its products in B2B segment. The firm along with inputs
from its buyers and in-house designers design wooden furniture
pieces which include – tables, chairs, beds, almirahs, drums,
side-boards, consoles, dining and bedroom groups.
ARTEMIS AUTO: Ind-Ra Lowers Long Term Issuer Rating to D
--------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Artemis Auto
India Private Limited's (AAIPL) Long-Term Issuer Rating to 'IND D
(ISSUER NOT COOPERATING)' from 'IND BB (ISSUER NOT COOPERATING)'.
The issuer did not participate in the rating exercise despite
continuous requests and follow-ups by the agency. Thus, the rating
is based on the best available information. Therefore, investors
and other users are advised to take appropriate caution while using
these ratings.
The instrument-wise rating actions are:
-- INR112.5 mil. Fund-based working capital limits (Long-
term/Short-term) downgraded with IND D (ISSUER NOT
COOPERATING) rating; and
-- INR30 mil. Non-fund-based working capital limits (Short-term)
downgraded with IND D (ISSUER NOT COOPERATING) rating.
Note: ISSUER NOT COOPERATING: Issuer did not cooperate; based on
best-available information.
KEY RATING DRIVERS
The downgrade reflects delays in interest servicing on its working
capital facility for more than 60 days by AAIPL; the details of
which are not available.
RATING SENSITIVITIES
Positive: Timely debt servicing for three consecutive months could
result in a rating upgrade.
COMPANY PROFILE
Incorporated in 2010, AAIPL is an authorized dealer of Volvo Auto
India.
BABA CONSTRUCTION: ICRA Withdraws B+ Rating on INR125cr Loans
-------------------------------------------------------------
ICRA has withdrawn the ratings on certain bank facilities of Baba
Construction Private Limited (BCPL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund Based/ 12.00 [ICRA]B+ (Stable); ISSUER NOT
Cash Credit COOPERATING; Withdrawn
Non-fund 113.00 [ICRA]B+ (Stable); ISSUER NOT
Based/Bank COOPERATING; Withdrawn
Guarantee
Rationale
The ratings assigned to the bank facilities of BCPL have been
withdrawn in accordance with ICRA's policy on withdrawal and
suspension at the request of the company, basis the no-objection
certificates provided by its bankers. ICRA does not have adequate
information to suggest that the credit risk has changed since the
time the rating was last reviewed.
Key rating drivers and their description
Key rating drivers have not been captured as the rated
instrument(s) are being withdrawn.
Liquidity position
Not captured as the rating is being withdrawn.
Rating sensitivities
Not captured as the rating is being withdrawn.
BCPL was incorporated in 1988 and is involved in the business of
civil construction. It is a closely held private limited company,
which is promoted by separate individuals and their families. The
promoters have extensive experience in civil construction business.
The company undertakes contracts for construction of multi-storey
buildings, sewerage, water supply and road construction work etc.
It caters to state government entities such as the Agra Development
Authority, the Ghaziabad Development Authority and the Kanpur
Development Authority.
BHARATH AGRO: ICRA Withdraws B+ Rating on INR5cr LT Loan
--------------------------------------------------------
ICRA has withdrawn the ratings on certain bank facilities of
Bharath Agro Agencies, as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 5.00 [ICRA]B+(Stable) ISSUER NOT
Fund Based/CC COOPERATING; Withdrawn
Long Term- 1.70 [ICRA]B+(Stable) ISSUER NOT
Non Fund Based COOPERATING; Withdrawn
Long Term/ 0.30 [ICRA]B+(Stable)/[ICRA]A4
Short Term- ISSUER NOT COOPERATING;
Unallocated Withdrawn
Rationale
The ratings assigned to the bank facilities of Bharath Agro
Agencies have been withdrawn in accordance with ICRA's policy on
withdrawal and suspension at the request of the company, basis the
no-objection certificates provided by its bankers. ICRA does not
have adequate information to suggest that the credit risk has
changed since the time the rating was last reviewed.
Bharath Agro Agencies was incorporated as a partnership firm in
2005. The firm is an authorized tractor dealer, spares &
accessories distributor and service provider for Mahindra &
Mahindra Limited. The firm caters to the Kurnool market. The firm
operates through 5 showrooms at Adoni, Dhone, Atmapur, Nandikotkur
and Kurnool and 4 dedicated service centers at all the centers
except Atmapur.
BHUPTANI ASSOCIATES: Ind-Ra Keeps BB- Rating in Non-Cooperating
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has maintained Bhuptani
Associates' Long-Term Issuer Rating in the non-cooperating
category. The issuer did not participate in the rating exercise
despite continuous requests and follow-ups by the agency.
Therefore, investors and other users are advised to take
appropriate caution while using these ratings. The rating will
continue to appear as 'IND BB- (ISSUER NOT COOPERATING)' on the
agency's website.
The instrument-wise rating actions are:
-- INR30 mil. Fund-based working capital limit maintained in non-
cooperating category with IND BB- (ISSUER NOT COOPERATING) /
IND A4+ (ISSUER NOT COOPERATING) rating;
-- INR70 mil. Non-fund-based working capital limit maintained in
non-cooperating category with IND A4+ (ISSUER NOT
COOPERATING) rating; and
-- INR100 mil. Proposed non-fund-based facilities* is withdrawn.
*As the company did not proceed with the instrument as envisaged
Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
September 11, 2018. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.
COMPANY PROFILE
Bhuptani Associates was established in 1971 as Sorath Construction
and was renamed in 1993. Based in Junagadh (Gujarat), the firm
specializes in executing civil construction projects.
BRIGHTSTAR INFRASTRUCTURE: ICRA Cuts Rating on INR40cr Loan to B+
-----------------------------------------------------------------
ICRA has revised the ratings on certain bank facilities of
Brightstar Infrastructure Private Limited (BIPL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 40.00 [ICRA]B+ (Stable) ISSUER NOT
Term Loan COOPERATING; Rating downgraded
from [ICRA]BB+(Stable) and
continues to remain under the
'Issuer Not Cooperating'
Category
Rationale
The ratings downgrade is because of lack of adequate information
regarding BIPL performance and hence the uncertainty around its
credit risk. ICRA assesses whether the information available about
the entity is commensurate with its rating and reviews the same as
per its "Policy in respect of non-cooperation by a rated entity"
available at www.icra.in. The lenders, investors and other market
participants are thus advised to exercise appropriate caution while
using this rating as the rating may not adequately reflect the
credit risk profile of the entity, despite the downgrade.
As part of its process and in accordance with its rating agreement
with Brightstar Infrastructure Private Limited, ICRA has been
trying to seek information from the entity so as to monitor its
performance, but despite repeated requests by ICRA, the entity's
management has remained non-cooperative. In the absence of
requisite information and in line with the aforesaid policy of
ICRA, a rating view has been taken on the entity based on the best
available information.
BIPL is a special purpose vehicle (SPV), incorporated in 2005-06
and promoted by Ruchi Realty Holdings Ltd. (RRHL) and SARE, in a
55:45 joint venture, respectively. The SPV is developing an
integrated residential township, named Ruchi Lifescapes in Jatkhedi
Village, Bhopal, Madhya Pradesh spread over ~85 acres of land. The
township consists of 1,477 housing units, with amenities like
school, dispensary etc.
CHAITANYA CHEMICALS: ICRA Lowers Rating on INR5.50cr Loan to B+
---------------------------------------------------------------
ICRA has revised the ratings on certain bank facilities of
Chaitanya Chemicals, as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 5.50 [ICRA]B+ (Stable) ISSUER NOT
Fund Based/CC COOPERATING; Rating downgraded
from [ICRA]BB (Stable) and
continues to remain in the
'Issuer Not Cooperating'
Category
Long Term- 0.85 [ICRA]B+ (Stable) ISSUER NOT
Unallocated COOPERATING; Rating downgraded
from [ICRA]BB (Stable) and
continues to remain in the
'Issuer Not Cooperating'
Category
Rationale
The rating downgrade is because of lack of adequate information
regarding Chaitanya Chemicals performance and hence the uncertainty
around its credit risk. ICRA assesses whether the information
available about the entity is commensurate with its rating and
reviews the same as per its "Policy in respect of non-cooperation
by a rated entity" available at www.icra.in. The lenders, investors
and other market participants are thus advised to exercise
appropriate caution while using this rating as the rating may not
adequately reflect the credit risk profile of the entity, despite
the downgrade.
As part of its process and in accordance with its rating agreement
with Chaitanya Chemicals, ICRA has been trying to seek information
from the entity so as to monitor its performance, but despite
repeated requests by ICRA, the entity's management has remained
non-cooperative. In the absence of requisite information and in
line with the aforesaid policy of ICRA, a rating view has been
taken on the entity based on the best available information.
Chaitanya Chemicals is a partnership firm started by Mr. S.V. Rama
Moorthy (Managing Partner) and his family members (5 partners in
total) in 1990; each partner having equal share in the firm's
profit. The firm is located in Kadapa district of Andhra Pradesh
which is the only place in India where mining of barytes ore is
done and has the single largest deposit of barytes in the world.
CHAMARIA INFRASTRUCTURES: Ind-Ra Affirms D Long Term Issuer Rating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Chamaria
Infrastructures Private Limited's (CIPL) Long-Term Issuer Rating at
'IND D' and simultaneously migrated the rating to non-cooperating
category. The issuer did not participate in the rating exercise
despite continuous requests and follow ups by the agency. Thus, the
rating is based on the best available information. The rating will
now appear as 'IND D (ISSUER NOT COOPERATING)' on the agency's
website. Therefore, investors and other users are advised to take
appropriate caution while using the rating.
The instrument-wise rating actions is:
-- INR55 mil. Term loan (Long-term) due on July 2025 affirmed and
migrated to non-cooperating category with IND D (ISSUER NOT
COOPERATING) rating.
Note: Issuer did not cooperate; based on the best available
information
KEY RATING DRIVERS
The ratings reflect CIPL's delays in interest servicing on term
debt during the 12 months ended October 2020, due to tight
liquidity.
COMPANY PROFILE
Incorporated in July 2015, CIPL operates a hotel in Madhya Pradesh.
The hotel began operations in December 2018.
CLAVECON PRIVATE: Ind-Ra Affirms B+ Issuer Rating, Outlook Stable
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Clavecon (India)
Private Limited's (CIPL) Long-Term Issuer Rating at 'IND B+'. The
Outlook is Stable.
The instrument-wise rating actions are:
-- INR37.85 mil. (reduced from INR 44.47mil.) Term loan due on
August 2022 affirmed with IND B+/Stable rating;
-- INR35 mil. Fund-based working capital limits affirmed with IND
B+/Stable/IND A4 rating; and
-- INR5 mil. Non-fund-based working capital limits affirmed with
IND A4 rating.
KEY RATING DRIVERS
The affirmation reflects CIPL's continued small scale of
operations, as indicated by the revenue of INR306.20 million in
FY20 (FY19: INR366.42 million). The revenue reduced in FY20 due to
a ban imposed by the National Green Tribunal on construction
activities in Delhi National Capital Region for nearly two months,
owing to the drastic deterioration in the air quality in and around
the national capital. The agency expects the company's revenue to
decline in FY21, owing to the COVID-19-led lockdown and the
disruptions that followed. FY20 numbers are provisional in nature.
The ratings continue to be constrained by the company's weak credit
metrics. The interest coverage (operating EBITDA/gross interest
expense) improved marginally to 1.74x in FY20 (FY19: 0.85x) on
account of the reduced interest expenses. The net leverage
(adjusted net debt/operating EBITDAR) also improved to 6.15x in
FY20 (FY19: 12.29x) on the back of an improvement in the absolute
EBITDA. Ind-Ra expects the credit metrics to deteriorate marginally
in FY21, on account of a likely decline in the absolute EBITDA.
The ratings continue to be constrained by CIPL's modest EBITDA
margin due to high manufacturing and administrative expenses. The
margin rose to 5.46% in FY20 (FY19: 2.64%), on account of a fall in
the administration expenses. The return on capital employed was
3.3% in FY20 (FY19: negative 5.6%). Ind-Ra expects the margin to
deteriorate slightly in FY21.
Liquidity Indicator - Stretched: CIPL's average use of its
fund-based limits stood at 87% for the 12 months ended September
2020. The cash flow from operations remained positive at INR16.74
million in FY20 (FY19: INR18.79 million) due to better working
capital management by CIPL. The company's working capital cycle
improved to 5 days in FY20 (FY19: 18 days), due to the long credit
period received from suppliers. The negative impact of an elongated
debtor cycle of over one month is somewhat offset by the creditor
days of around 76 days. The cash and cash equivalents stood at
INR1.34 million at FYE20 (FYE19: INR0.45 million). CIPL availed the
Reserve Bank of India-prescribed moratorium for its cash credit and
term loan facilities for six months ending August 2020. The company
does not have any capital market exposure and relies on banking
channels to meet its funding requirements.
The ratings, however, are supported by the company's promoters'
more than four decades of experience in manufacturing concrete
blocks, leading to the company's longstanding relationships with
its customers and suppliers.
RATING SENSITIVITIES
Negative: A significant decline in the revenue and/or operating
profit, leading to the interest coverage reducing below 1.5x or a
further deterioration in the liquidity position, all on a sustained
basis, could lead to a negative rating action.
Positive: An increase in the scale of operations and the liquidity,
along with an improvement in the credit metrics, all on a sustained
basis, could lead to positive rating action.
COMPANY PROFILE
Incorporated in 2013, CIPL manufactures autoclaved aerated concrete
and concrete blocks. It has an installed capacity of 15,000 cubic
meters per month.
CMM INFRAPROJECTS: Insolvency Resolution Process Case Summary
-------------------------------------------------------------
Debtor: CMM Infraprojects Limited
108, Corporate Center
8-B South Tukoganj
Indore 452001
MP
Insolvency Commencement Date: November 2, 2020
Court: National Company Law Tribunal, Bhopal Bench
Estimated date of closure of
insolvency resolution process: May 1, 2021
Insolvency professional: Mr. Vichtira Narayan Pathak
Interim Resolution
Professional: Mr. Vichtira Narayan Pathak
120, Jharneshwar Colony
Madhuban Vihar
Near International Public School
Hoshangabad Road
Bhopal 462047
MP
E-mail: drvnpathak@yahoo.co.in
cirp.cmm@avmresolution.com
Last date for
submission of claims: November 16, 2020
EVAN MULTI: ICRA Keeps D Debt Ratings in Not Cooperating
--------------------------------------------------------
ICRA said the ratings for the INR27.05 crore bank facilities of
Evan Multi Specialty Hospital and Research Centre Private Limited
continue to remain under Issuer Not Cooperating category. The
rating is denoted as '[ICRA]D ISSUER NOT COOPERATING'.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long-term 25.70 [ICRA]D; ISSUER NOT COOPERATING;
Fund-Based Rating Continues to remain under
Term Loan the 'Issuer Not Cooperating'
category
Long-term 1.35 [ICRA]D; ISSUER NOT COOPERATING;
Fund-based Rating Continues to remain under
Cash Credit the 'Issuer Not Cooperating'
category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis dated information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity.
Incorporated in December 2012, EHRL is a closely held company that
operates a 55-bedded multi-speciality hospital in Muzaffarnagar
(Uttar Pradesh). Amongst ten promoters of the company, eight are
qualified doctors having relevant experience across different
medical fields. The hospital commenced its outpatient patient
operations in July 2015 and the inpatient operations was initiated
in September 2015.
GEETANJALI AGRO: ICRA Keeps B+ Debt Ratings in Not Cooperating
--------------------------------------------------------------
ICRA said the rating for the INR13.00-crore bank facilities of
Geetanjali Agro Industries continue to remain under 'Issuer Not
Cooperating' category'. The ratings are denoted as
"[ICRA]B+(Stable) ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 10.00 [ICRA]B+(Stable) ISSUER NOT
Fund Based/CC COOPERATING; Rating continues
to remain in the 'Issuer Not
Cooperating' category
Long Term- 3.00 [ICRA]B+(Stable) ISSUER NOT
Unallocated COOPERATING; Rating continues
to remain in the 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best available
information on the issuers' performance. Accordingly, the lenders,
investors and other market participants are advised to exercise
appropriate caution while using this rating as the rating may not
adequately reflect the credit risk profile of the entity. The
rating action has been taken in accordance with ICRA's policy in
respect of non-cooperation by a rated entity available at
www.icra.in.
Established in 2014 by Mr. B. Srinivas and family, GAI is a
partnership firm, involved in the milling of paddy and produces
rice. The firm's major products include boiled rice, raw rice,
bran, broken rice and husk. Although the rice mill commenced
operations in November 2013, the promoter group has been involved
in similar business for more than two decades. GAI's plant is
spread over an area of 5 acres in Raichur district of Karnataka
with a capacity to process 8 MT of paddy per hour. The firm sells
its products under the brand name 'Geetanjali' with different
variants such Mayur, Gold, Life, Camel, Camel Gold, and Perfect
Broken Rice.
GOODWIN PACKPET: Insolvency Resolution Process Case Summary
-----------------------------------------------------------
Debtor: Goodwin Packpet Private Limited
Door No. 1/94
Vadakkumnalath House
Mulang, Thottipal PO
Thrissur, Kerala 680310
Insolvency Commencement Date: May 31, 2020
Court: National Company Law Tribunal, Thiruvananthapuram Bench
Estimated date of closure of
insolvency resolution process: November 26, 2020
Insolvency professional: Sathiq Buhari
Interim Resolution
Professional: Sathiq Buhari
Sagreen Law Chamber
Vanchiyoor
Thiruvananthapuram
Kerala 695035
E-mail: sathiq33@gmail.com
- and -
3rd Floor, Bank Employees
Cooperative Society Building
Chirakkulam Road, Statue
Thiruvananthapuram 695001
Tel: 9349422304
Last date for
submission of claims: November 6, 2020
GSCO INFRASTRUCTURE: ICRA Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------------
ICRA said ratings for the INR46.40 crore bank facilities of GSCO
Infrastructure Pvt. Ltd. continues to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]D; ISSUER
NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 6.40 [ICRA]D; ISSUER NOT COOPERATING;
Cash Credit Rating continues to remain under
'Issuer Not Cooperating'
Category
Non Fund Based- 40.00 [ICRA]D; ISSUER NOT COOPERATING;
Bank Guarantee Rating continues to remain under
'Issuer Not Cooperating'
Category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.
Incorporated in 2004, GSCO is promoted by Mr. Gurmeet Singh who has
been in the construction business since the last three decades. The
promoters were earlier running the business through a proprietary
concern M/s. Gurmeet Singh & Co which was taken over by GSCO in
2008. GSCO undertakes projects in irrigation, mining and road
sectors.
IBD UNIVERSAL: ICRA Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------
ICRA said ratings for the INR54.00 crore bank facilities of Ibd
Universal Pvt. Ltd. (IBDU) continue to remain under the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]D; ISSUER
NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 5.00 [ICRA]D; ISSUER NOT COOPERATING;
Cash Credit Rating continues to remain under
'Issuer Not Cooperating'
Category
Fund based- 22.00 [ICRA]D; ISSUER NOT COOPERATING;
Term Loan Rating continues to remain under
'Issuer Not Cooperating'
Category
Unallocated 27.00 [ICRA]D; ISSUER NOT COOPERATING;
Limits Rating continues to remain under
'Issuer Not Cooperating'
Category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.
IBDU was incorporated on July 15, 1999 as a private limited company
in the name of Indus Dwellings Pvt. Ltd. for development and
construction of apartments, houses, flats, rooms, bungalows,
markets, shopping complexes, townships or other building or
accommodation. The name of the company changed to IBD Universal
Private Limited on June 12, 2008. They have been actively involved
in construction and development of real estate over the last 15
years in Central India.
JONNA STEELS: ICRA Migrates B+ Debt Ratings to Not Cooperating
--------------------------------------------------------------
ICRA has moved the long-term rating for the bank facilities of
Jonna Steels to the 'Issuer Not Cooperating' category. The rating
is now denoted as "[ICRA]B+ (Stable) ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 14.50 [ICRA]B+ (Stable) ISSUER NOT
Fund Based/ COOPERATING; Rating moved to
CC the 'Issuer Not Cooperating'
category
Long Term- 0.50 [ICRA]B+(Stable) ISSUER NOT
Unallocated COOPERATING; Rating moved to
the 'Issuer Not Cooperating'
category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best available
information on the issuers' performance. Accordingly, the lenders,
investors and other market participants are advised to exercise
appropriate caution while using this rating as the rating may not
adequately reflect the credit risk profile of the entity. The
rating action has been taken in accordance with ICRA's policy in
respect of non-cooperation by a rated entity available at
www.icra.in.
JS was founded in year 1998 by Mr. Veeranjaneyulu. It is involved
in the trading of iron and steel products. JS deals in the complete
range of iron and steel products including structural, mild
structure (MS) range (beams, flats, rounds, etc.), and thermo
mechanically tested (TMT) bars. The firm procures traded products
from steel rolling mills located in and around Hyderabad.
JS has reported an OI of INR77.6 crore and net profit of INR0.2
crore in FY2018 as against an OI of INR65.9 crore and a net profit
of INR0.1 crore in FY2017.
K V DEVELOPERS: Insolvency Resolution Process Case Summary
----------------------------------------------------------
Debtor: K V Developers Private Limited
621/9 First Floor
18 Quarters
Vishwas Nagar
Shahdara Delhi 110032
East Delhi DL 110032
Insolvency Commencement Date: October 28, 2020
Court: National Company Law Tribunal, New Delhi Bench
Estimated date of closure of
insolvency resolution process: April 25, 2021
(180 days from commencement)
Insolvency professional: Pankaj Narang
Interim Resolution
Professional: Pankaj Narang
304, Tower Apartment
Swasthya Vihar
New Delhi 110092
E-mail: pankajnarangca@gmail.com
203-204, Jeevan Villa
2nd floor
Near Gurudwara
111, Ansari Road
Daryaganj
Delhi 110002
E-mail: cirp.kvd@gmail.com
IBBI, 7th Floor
Mayur Bhawan
Shankar Market
Connaught Circus
New Delhi 110001
- and -
2nd Floor, Jeevan Vihar Building
Parliament Street
New Delhi 110001
Classes of creditors: Real Estate Buyers inclusive of
Home Buyers whose dues are outstanding
towards the Corporate Debtor as a
Financial Creditor on CIRP commencement
date i.e. 28th October 2020
Insolvency
Professionals
Representative of
Creditors in a class: Mr. Anish Kumar Sanghi
Mr. Gagan Gulati
Mr. Praveen Kumar Singhal
Last date for
submission of claims: November 11, 2020
KIRAN INDUSTRIES: Ind-Ra Cuts Issuer Rating to BB, Outlook Stable
-----------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Kiran Industries
Private Limited's (KIPL) Long-Term Issuer Rating to 'IND BB' from
'IND BB+ (ISSUER NOT COOPERATING)'. The Outlook is Stable.
The instrument-wise rating actions are:
-- INR247 mil. (reduced from INR280 mil.) Term loan due on May
2025 downgraded with IND BB/Stable rating;
-- INR240 mil. Fund-based limits Long-term rating downgraded;
Short-term rating affirmed with IND BB/Stable/IND A4+ rating;
and
-- INR2 mil. Non-fund-based limits affirmed with IND A4+ rating.
KEY RATING DRIVERS
The downgrade reflects a decline in KIPL's EBITDA margin, despite a
modest growth in revenue to INR1,826 million in FY20 (FY19:
INR1,764 million) owing to an increase in installed capacity to
10,800 million tons per annum (7,200 million tons per annum). The
EBITDA margin declined to 7.3% in FY20 (FY19: 7.5%), on account of
high employee costs to set up a new manufacturing unit in Palsana
(Gujarat) in FY19, as well as increase in employee benefit
expenses. The company's scale of operations is medium and the
margins are modest with a return on capital employed of 9% in FY20
(FY19: 11%). Ind-Ra expects the revenue to decrease in the medium
term, leading to a decline in the EBITDA margin owing to the impact
of COVID-19 led economic disruptions in the textile sector.
The ratings continue to reflect KIPL's modest credit metrics. Its
net leverage (total adjusted debt/operating EBITDA) improved to
4.7x in FY20 (FY19: 5.0x) owing to repayment of the term loans,
while interest coverage (operating EBITDA/gross interest expense)
remained stable at 2.2x (2.2x).
Liquidity Indicator - Poor: KIPL's average peak use of the
fund-based and the non-fund-based limits was 98% and 26%,
respectively, over the 12 months ended September 2020. The cash
flow from operations plunged to INR54 million in FY20 (FY19: INR99
million), on account of increase in working capital requirements.
However, free cash flow turned positive to INR59 million in FY20
(FY19: negative INR206 million) due to absence of capex. The
company does not have any major debt-led capex plans in the near
term. KIPL has a short working capital cycle (FY20: 116 days, FY19:
115 days), driven by timely payments from its customers, leading to
low inventory levels. It had availed the Reserve Bank of
India-prescribed moratorium for debt repayments over April to
August 2020. The company's cash and cash equivalents remained low
at INR14 million at FYE20 (FYE19: INR13.1 million), against the
debt of INR630 million (INR671 million).
However, the ratings remain supported by KIPL's promoters'
three-decade-long experience in the textile industry, leading to
longstanding relationships with its customers.
RATING SENSITIVITIES
Positive: An improvement in the revenue and the EBITDA margins,
resulting in an improvement in the liquidity and the credit
metrics, all on a sustained basis, would be positive for the
ratings.
Negative: Any decline in the revenue or the EBITDA margins,
resulting in deterioration of the credit metrics with the net
leverage increasing above 5.5x and further deterioration of the
liquidity position, would be negative for the ratings.
COMPANY PROFILE
Incorporated in 1986, KIPL manufactures polyester dyed yarns,
embroidery threads viscose/polyester and metallic yarns. The
company has its registered office in Udhana, Surat, Gujarat. It has
offices in all major Indian textile centers such as Surat, Mumbai,
Delhi, Kolkata, Bengaluru and Tirupur.
KRISHNA TIMBER: ICRA Keeps B Debt Ratings in Not Cooperating
------------------------------------------------------------
ICRA said the ratings for the INR7.50 crore bank facilities of
Krishna Timber Company (KTC) continue to remain under Issuer Not
Cooperating category. The rating is denoted as [ICRA]B (Stable)
ISSUER NOT COOPERATING.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 1.00 [ICRA]B (Stable) ISSUER NOT
Fund Based/ COOPERATING; Rating continues
CC to remain under 'Issuer Not
Cooperating' category
Long Term- 6.50 [ICRA]B (Stable) ISSUER NOT
Non Fund Based COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Long Term-
Interchangeable (6.50) [ICRA]B (Stable); ISSUER NOT
COOPERATING; Rating continue
to remain under the 'Issuer
Not Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis dated information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity.
Incorporated in 2007, Krishna Timber Company (KTC) is a private
limited concern engaged in real estate development in Bangalore,
Karnataka. The promoter Mr. K Nagaraj has a long standing
experience in the field of real estate development, having
developed more than 10 residential and commercial projects
encompassing 0.2 million square feet of constructed area, since
establishment of his partnership entity M/s. Saravana Constructions
in 1997. Initially, the group had started off as a real estate
company doing small format layouts, independent homes and small
apartment complexes, but now the group has forayed into in to large
housing projects and is in the process of getting into villa
project ventures too. The firm has its in-house team of engineers
and architect.
LAKSHMI VILAS: Bank Needs Urgent Capital Infusion, Auditor Says
---------------------------------------------------------------
BloombergQuint reports that troubled private sector lender Lakshmi
Vilas Bank reported a net loss at a time it's facing solvency
issues and is in talks for a merger with non-bank lender Clix
Capital Ltd.
The lender reported a net loss of INR397 crore in the quarter ended
Sept. 30, BloombergQuint discloses citing the lender's exchange
filing. That compares with a loss of INR357 crore a year earlier.
In the quarter ended June, the loss stood at INR122 crore.
The bank's net interest income, or core income, fell 27.7% to
INR79.52 crore.
BloombergQuint says Lakshmi Vilas Bank saw a marginal improvement
in asset quality. Gross non-performing asset ratio stood at 24.45%
as of September compared with 25.4% as of June. Net NPA ratio
improved to 7% from 9.64% in the previous quarter.
The bank's gross advances fell 13.66% year-on-year to INR16,622
crore in the quarter ended September.
Its total deposit base fell 24.7% year-on-year to INR20,973 crore.
BloombergQuint relates that the private lender continued to face
pressures on its capital adequacy ratio. As on Sept. 30, the
overall capital adequacy ratio stood at -2.85%, showing severe
solvency issues at the bank.
"The bank's Tier 1 Capital ratio has turned negative, at (0.88)%,
(1.83)% and (4.85%) as at 31st March 2020, 30th June 2020 and 30th
September 2020 respectively, as compared to the minimum requirement
of 8.875%," the private bank's auditors P Chandrasekar LLP noted in
their remarks, BloombergQuint relays. "This requires the bank to
take urgent effective steps to augment its capital base in the year
2020-21."
According to BloombergQuint, the bank has informed the auditors
that based on its internal assessment and the likely capital
infusion, the bank will be able to realise its assets and discharge
its liabilities in its normal course of business.
"The said assumption of going concern is dependent upon the bank's
ability to achieve improvements in liquidity, asset quality and
solvency ratios, augment its capital base and mitigate the impact
of COVID-19 and thus a material uncertainty exists that may cast a
significant doubt on the bank's ability to continue as a going
concern," the auditors opined.
BloombergQuint says the bank is in discussions with non-bank lender
Clix Capital for a potential merger. According to its disclosures,
the two parties are in the process of coming up with a structure
that will be agreeable for both.
"There were minor incremental due diligence requested by Clix
Group, which was completed this week," the bank said in a
statement.
According to BloombergQuint, the bank's board has approved the
issue of equity shares worth INR500 crore through a rights issue.
It appointed ICICI Securities as merchant banker.
In September, Lakshmi Vilas Bank's shareholders voted out seven
directors from the bank's board, including Managing Director and
Chief Executive Officer S Sundar, BloombergQuint recalls. Since
then, the Reserve Bank of India has ordered that a committee of
three directors run the bank's daily affairs till a solution for
this is found.
Last year, the bank was placed under the prompt corrective action
framework of the Reserve Bank of India because of its financial
position, BloombergQuint notes. Under the framework, the bank has
to follow restrictions on lending, expansion and any other capital
consuming activities.
LAXMI BALAJI: ICRA Keeps B+ Debt Ratings in Not Cooperating
-----------------------------------------------------------
ICRA said the ratings for the INR17.00 crore bank facilities of
Laxmi Balaji Industries (LBI) to remain under Issuer Not
Cooperating category. The long-term is denoted as [ICRA]B+(Stable)
ISSUER NOT COOPERATING.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 12.50 [ICRA]B+ (Stable) ISSUER NOT
Fund Based/ COOPERATING; Rating continues
CC to remain under 'Issuer Not
Cooperating' category
Long Term- 0.39 [ICRA]B+ (Stable) ISSUER NOT
Fund Based COOPERATING; Rating continues
TL to remain under 'Issuer Not
Cooperating' category
Long Term- 4.11 [ICRA]B+(Stable) ISSUER NOT
Unallocated COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis dated information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity.
Laxmi Balaji Industries (LBI) was setup in the year 2006 and is
engaged in milling of paddy to produce raw and boiled rice. It is
promoted by Mr. V. Mohan Reddy and partners who have an experience
of more than 21 years in the milling industry. The company has a
milling unit in Khanapoor (Nizamabad district) of Andhra Pradesh
with a milling capacity of 70,100 MTPA (8 tonnes per hour).
MADHUCON SUGAR: ICRA Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
ICRA said the ratings for the INR158.08-crore bank facilities of
Madhucon Sugar and Power Industries Limited (MSPIL) continue to
remain under Issuer Not Cooperating category. The ratings are
denoted as [ICRA]D ISSUER NOT COOPERATING.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 21.29 [ICRA]D; ISSUER NOT COOPERATING;
Term Loans Rating continues to remain under
'Issuer Not Cooperating'
Category
Fund based- 98.89 [ICRA]D; ISSUER NOT COOPERATING;
Cash Credit Rating continues to remain under
'Issuer Not Cooperating'
Category
Long term– 37.90 [ICRA]D; ISSUER NOT
COOPERATING;
Unallocated Rating continues to remain under
Limits 'Issuer Not Cooperating'
Category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best available
information on the issuers' performance. Accordingly, the lenders,
investors and other market participants are advised to exercise
appropriate caution while using this rating as the rating may not
adequately reflect the credit risk profile of the entity.
MSPIL was incorporated in November 2002 as Madhucon Sugars Limited,
with an objective to acquire 'The Palair CoOperative sugars
Limited' sugar plant in Khammam district (Palair, was established
under co-operative sector in 1982). MSPIL gradually enhanced the
sugar capacity from 1,250 TCD to 2,000 TCD by FY2007 and to 3,000
TCD by FY2008 and 3,500 TCD by FY2009. The mill, which was a
standalone sugar unit, forayed into production of power with a
capacity of 24.2 MW from bagasse and coal in October 2008. The
distillery unit, with a capacity of 65 KPLD, commenced operations
in December 2015.
MARIAN PROJECTS: ICRA Lowers Rating on INR9.50cr Term Loan to B+
----------------------------------------------------------------
ICRA has revised the ratings on certain bank facilities of Marian
Projects Private Limited (MPPL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund Based– 4.50 [ICRA]B+ (Stable) ISSUER NOT
Term Loan COOPERATING; Rating downgraded
from [ICRA]BB- (Stable) and
moved to the 'Issuer Not
Cooperating' category
Cash Credit 5.00 [ICRA]B+ (Stable) ISSUER NOT
COOPERATING; Rating downgraded
from [ICRA]BB- (Stable) and
moved to the 'Issuer Not
Cooperating' category
Rationale
The rating is downgraded because of lack of adequate information
regarding MPPL performance and hence the uncertainty around its
credit risk. ICRA assesses whether the information available about
the entity is commensurate with its rating and reviews the same as
per its "Policy in respect of non-cooperation by the rated
entity".
The lenders, investors and other market participants are thus
advised to exercise appropriate caution while using this rating as
the rating may not adequately reflect the credit risk profile of
the entity, despite the downgrade.
As part of its process and in accordance with its rating agreement
with Marian Projects Private Limited, ICRA has been trying to seek
information from the entity so as to monitor its performance, but
despite repeated requests by ICRA, the entity's management has
remained non-cooperative. In the absence of requisite information
and in line with SEBI's Circular No. SEBI/HO/MIRSD4/CIR/2016/119,
dated November 1, 2016, ICRA's Rating Committee has taken a rating
view based on the best available information.
Marian Projects Private Limited (MPPL) was incorporated as a
private limited company in 2011. It is primarily involved in
residential and commercial real-estate development in Mangalore.
Since its inception, MPPL has delivered 525-plus homes from 14
projects. The operations of the company are managed by the two
directors – Mr. Ujwal D'souza and Mr. Naveen Cardoza. The
promoters are civil engineers and have experience of more than 20
years in the industry.
Status of non-cooperation with previous CRA: CARE Ratings in its
rationale published on September 29, 2020 had reviewed the rating
assigned to the bank facilities of Marian Projects Private Limited
and revised it to CARE B/Stable; Issuer not cooperating.
MOON RIVER: Insolvency Resolution Process Case Summary
------------------------------------------------------
Debtor: M/s Moon River Resorts Private Ltd
Registered office:
"Vacha Loft", Flat No. 5
River View Apartments
Yacht Club Enclave
Konduruthy, Cochin
Kerala 682013
India
Insolvency Commencement Date: October 9, 2020
Court: National Company Law Tribunal, Thodupuzha Bench
Estimated date of closure of
insolvency resolution process: April 13, 2021
Insolvency professional: Mr. K.T. Mathew
Interim Resolution
Professional: Mr. K.T. Mathew
Kuruvanthanathu
Kolani P.O.
Thodupuzha
Kerala 685608
E-mail: babykuruvanthanam@gmail.com
ktmathewrp@gmail.com
Classes of creditors: Allottees Under Real Estate Project
(Financial Creditors)
Insolvency
Professionals
Representative of
Creditors in a class: CA Jasin Jose
CA Kizhakkekara Kuriakose Jose
CA Francis Mathew
Last date for
submission of claims: October 29, 2020
NIRMAN CONSTRUCTION: Ind-Ra Moves 'D' Rating to Non-Cooperating
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated Nirman
Construction's Long-Term Issuer Rating to the non-cooperating
category. The issuer did not participate in the rating exercise
despite continuous requests and follow-ups by the agency.
Therefore, investors and other users are advised to take
appropriate caution while using these ratings. The rating will now
appear as 'IND D (ISSUER NOT COOPERATING)' on the agency's website.
The instrument-wise rating actions are:
-- INR60 mil. Fund-based facilities (Long/short-term) migrated to
non-cooperating category with IND D (ISSUER NOT COOPERATING)
rating; and
-- INR45 mil. Non-fund-based facilities (Short-term) migrated to
non-cooperating category with IND D (ISSUER NOT COOPERATING)
rating.
Note: ISSUER NOT COOPERATING: The ratings were last reviewed on
November 12, 2019. Ind-Ra is unable to provide an update, as the
agency does not have adequate information to review the ratings.
COMPANY PROFILE
Nirman Construction is engaged in civil construction, namely the
construction of buildings, bridges, and roads. The proprietorship
firm is headed by Arun Patil.
P. PERICHI GOUNDER: Ind-Ra Moves D Issuer Rating to NonCooperating
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has migrated P. Perichi Gounder
Memorial Charitable Trust's bank facilities' ratings to the
non-cooperating category. The issuer did not participate in the
rating exercise despite continuous requests and follow-up by the
agency. Therefore, investors and other users are advised to take
appropriate caution while using these ratings. The ratings will now
appear as 'IND D (ISSUER NOT COOPERATING)' on the agency's website.
The detailed rating actions are:
-- INR66.42 mil. Bank loans (Long-term) migrated to non-
cooperating category with IND D (ISSUER NOT COOPERATING)
rating; and
-- INR65.00 mil. Fund-based working capital facility (Long-term)
migrated to non-cooperating category with IND D (ISSUER NOT
COOPERATING) rating.
Note: ISSUER NOT COOPERATING: The rating was last reviewed on
November 8, 2019. Ind-Ra is unable to provide an update as the
agency does not have adequate information to review the rating.
COMPANY PROFILE
Founded in 1992, P. Perichi Gounder Memorial Charitable Trust is a
public charitable trust based in Coimbatore, Tamil Nadu. The trust,
managed by Dr. L. P. Thangavelu, has a cancer hospital and nine
educational institutions and offers primary to higher education.
PIYUSH IT SOLUTIONS: Insolvency Resolution Process Case Summary
---------------------------------------------------------------
Debtor: Piyush IT Solutions Private Limited
Flat No. 14, Ground Floor
Pul Pehlad Pur
DDA MIG, Suraj Apartment
New Delhi 110044
Insolvency Commencement Date: October 28, 2020
Court: National Company Law Tribunal, New Delhi Bench-III
Estimated date of closure of
insolvency resolution process: April 26, 2021
Insolvency professional: Pawan Kumar Singal
Interim Resolution
Professional: Pawan Kumar Singal
MP-114, Pitam Pura
Delhi 110034
E-mail: pawansingal50@gmail.com
- and -
AVM Resolution Professionals LLP (IPE)
B/28, 3rd Floor, W.E.A.
Abdul Aziz Road, Karol Bagh
New Delhi 110005
E-mail: cirp.piyush@avmresolution.com
cirp.piyushhomebuyer@
avmresolution.com
Classes of creditors: Home Buyers under the Real Estate Project
(Financial Creditors) of the Corporate
Debtor
Insolvency
Professionals
Representative of
Creditors in a class: Mr. Pawan Kumar Goyal
Mr. Anil Tayal
Mr. Anurag Nirbhaya
Last date for
submission of claims: November 11, 2020
POLARIS LIQUOR: ICRA Lowers Rating on INR32.50cr LT Loan to B+
--------------------------------------------------------------
ICRA has downgraded the ratings on certain bank facilities of
Polaris Liquor Private Limited (PLPL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 32.50 [ICRA]B+ (Stable) ISSUER NOT
Fund Based COOPERATING; Rating downgraded
Cash Credit from [ICRA]BB (Stable) and
continues to remain in the
'Issuer Not Cooperating'
Category
Rationale
The rating downgrade is because of lack of adequate information
regarding PLPL performance and hence the uncertainty around its
credit risk. ICRA assesses whether the information available about
the entity is commensurate with its rating and reviews the same as
per its "Policy in respect of non-cooperation by a rated entity"
available at www.icra.in. The lenders, investors and other market
participants are thus advised to exercise appropriate caution while
using this rating as the rating may not adequately reflect the
credit risk profile of the entity, despite the downgrade.
As part of its process and in accordance with its rating agreement
with Polaris Liquor Private Limited, ICRA has been trying to seek
information from the entity so as to monitor its performance, but
despite repeated requests by ICRA, the entity's management has
remained non-cooperative. In the absence of requisite information
and in line with the aforesaid policy of ICRA, a rating view has
been taken on the entity based on the best available information.
Polaris Liquor Private Limited (PLPL) is a part of the N.R. Group
of Companies, promoted by Mr. Neeraj Rawal and is a major
distributor of Indian Made Foreign Liquor (IMFL), especially of
United Breweries Group in Maharashtra and Andhra Pradesh.
Primarily, PLPL is engaged in distributorship of all brands of
United Breweries Limited (UBL) and United Spirits Limited (USL) in
specified areas of Pune except three brands, namely Signature, DSP
Blue and Antiquity. The company also sells imported wine and beer
among others.
RAVI MICRONS: ICRA Withdraws B+ Rating on INR9cr Term Loan
----------------------------------------------------------
ICRA has withdrawn the ratings on certain bank facilities of Ravi
Microns LLP (RML), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Cash credit 4.00 [ICRA]B+ (Stable); Withdrawn
Term loan 9.00 [ICRA]B+ (Stable); Withdrawn
Bank Guarantee 0.80 [ICRA]A4; Withdrawn
Rationale
The long-term and short-term ratings assigned to Ravi Microns LLP
have been withdrawn at the request of the company and based on the
No Objection Certificate received from the banker, and in
accordance with ICRA's policy on withdrawal and suspension. ICRA is
withdrawing the rating and it does not have information to suggest
that the credit risk has changed since the time the rating was last
reviewed.
Key rating drivers and their description
Key rating drivers have not been captured as the rating is being
withdrawn.
Incorporated in April 2017, Ravi Microns LLP (RML) manufactures
potassium and sodium feldspar powder, which is used as a raw
material in the ceramic tiles industry. The unit is located at
Morbi, Gujarat, and has an installed capacity of producing 1,20,000
metric ton of feldspar powder per annum. The firm's commercial
operations commenced from February 2018.
RENATA PRECISION: Ind-Ra Lowers Long Term Issuer Rating to BB+
--------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Renata Precision
Components Private Limited's (RPCPL) Long-Term Issuer Rating to
'IND BB+' from 'IND BBB- (ISSUER NOT COOPERATING)'. The Outlook is
Stable.
The instrument-wise rating actions are:
-- INR167.50 mil. (increased from INR147 mil.) Fund-based working
capital limits downgraded with IND BB+/Stable/IND A4+ rating;
-- INR273.50 mil. (reduced from INR180 mil.) Term loans due on
September 2023 downgraded with IND BB+/Stable rating; and
-- INR30 mil. Non-fund-based working capital limits downgraded
with IND A4+ rating.
The downgrade reflects deterioration in RPCPL's EBITDA margin and
consequently the credit metrics in FY20. Ind-Ra expects the
company's liquidity position to remain stretched over the
short-to-medium term on account of the ongoing debt-funded capex.
KEY RATING DRIVERS
Liquidity Indicator – Stretched: RPCPL's average maximum
utilization of the fund-based limits was 97% for the 12 months
ended September 2020. The net cash cycle elongated to 232 days in
FY20 (FY19: 103 days), on account of an increase in inventory
holding period to 265 days (104 days) and receivable period to 99
days (73 days). Additionally, the company had a low unencumbered
cash balance of INR0.36 million at FYE20 (FYE19: INR3.91 million).
RPCPL's cash flow from operations turned negative to INR27.07
million in FY20 (FY19: INR7.35 million) owing to unfavorable
changes in working capital. Furthermore, the company does not have
any capital market exposure and relies on banks and financial
institutions to meet its funding requirements. The company had
availed the Reserve Bank of India-prescribed moratorium over March
to August 2020 under the COVID-19 relief package. FY20 financials
are provisional. Ind-Ra expects the company's liquidity to
deteriorate further in FY21 owing to the ongoing capex of INR110
million for purchasing three machines and auxiliaries to enhance
its production capacity.
The ratings continue to factor in RPCPL's continued medium scale of
operations with a marginal increase in revenue to INR942.99 million
in FY20 (FY19: INR933.07 million), due to receipt of orders for
BS-VI parts. Since the change in the emission norms was effective
from April 1, 2020, the company ramped up production from February
2020. Ind-Ra expects the revenue to grow 30% over the medium term.
The ratings are also constrained by RPCPL's modest EBITDA margin.
The margin plunged to 3.98% in FY20 (FY19: 13.64%), due to increase
in fixed costs in the third and fourth quarter of FY20 in the run
up to BS VI readiness. Furthermore, project development costs and
higher rejection levels of new products at the time of the first
launch added to the decline in EBITDA. The rejection of about INR40
million, led to an increase in raw material costs. The company's
return on capital employed was negative 5.47% in FY20. Ind-Ra
expects the EBITDA margin to improve in FY21 on account of lower
rejection, due to the stabilization of BS-VI operations.
RPCPL's credit metrics continue to be modest. Its interest coverage
(operating EBITDAR/gross interest expense + rents) deteriorated to
0.77x in FY20 (FY19: 3.39x) and net leverage (total adjusted net
debt/operating EBITDAR) of 11.49x (2.80x) on account of the decline
in EBITDA to INR37.49 million (INR127 million). However, the agency
expects the credit metrics to improve in FY21 with the likely
increase in the EBITDA.
The ratings are, however, supported by RPCPL's longstanding
relationships with majority of its key clients, which include
reputed companies such as Volkswagen, Mahindra, Pierburg, Brose,
Dellorto, Epcos AG, Raychem RPG, Rieter, among others. The ratings
also draw support from the company's promoters' more than two
decades of experience in the manufacturing of precision components.
RATING SENSITIVITIES
Positive: Significant improvement in the scale of operations,
leading to an improvement in the credit metrics with the net
leverage sustaining below 3.5x, along with an improvement in the
liquidity position on a sustained basis will be positive for the
ratings.
Negative: Inability to improve the liquidity position or a decline
in the revenue or the EBITDA margin, resulting in a further
deterioration in the net leverage will be negative for the
ratings.
COMPANY PROFILE
Pune-based RPCPL started operations as a proprietorship concern in
1992 and was converted into a private limited company in 2006. It
is engaged in the technical molding of precision plastic parts,
multi component (2K) molding, metal stamping, metal-plastic insert
molding, assembly of plastic plus metal plus rubber components,
tool design and manufacturing and product design and development.
The company carries out its activities at its two plants located in
Pune.
SANDEEP RICE: ICRA Keeps B Debt Rating in Not Cooperating
---------------------------------------------------------
ICRA said the ratings for the INR10.00 crore bank facilities of
Sandeep Rice Mills continue to remain in the 'Issuer Not
Cooperating' category. The ratings are denoted as "[ICRA]B (Stable)
ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 10.00 [ICRA]B (Stable) ISSUER NOT
Fund Based/ COOPERATING; Rating continues
Cash credit to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis dated information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity.
SRM was established in 2000 as a partnership firm by Mr. Amarjeet
Goyal, Mrs. Meena Devi and Mr. Jai Bhagwan Goyal. The firm is
engaged in milling and trading of basmati rice. The firm's milling
unit is based out of Cheeka and has an installed capacity of 6
ton/hour for milling of rice.
SANJAY DANCHAND: Ind-Ra Affirms BB+ Term Loan Rating
----------------------------------------------------
India Ratings and Research (Ind-Ra) has affirmed Sanjay Danchand
Ghodawat (Windmill Division)'s (SDGWM) term loan as follows:
-- INR579.60 mil. (INR508.70 mil. outstanding as of September 30,
2020) Term loan due on September 30, 2025, affirmed with
IND BB+/Stable rating.
Analytical Approach: Ind-Ra has taken a standalone view of SDGWM
while considering the cash flows from the 16.50MW wind project in
Madhya Pradesh. The influence of other wind projects and any other
business has not been considered within the rating analysis. The
cash flows from Karnataka (15.60MW) and Gujarat projects (1.60MW)
are not deposited in the designated escrow account maintained for
the term loan. However, as per the debt sanction terms, the cash
flows from the Karnataka and Madhya Pradesh projects have to be
consolidated in the designated escrow account held with the
lender.
The rating is anchored by SDGWM's firm offtake arrangement with
Madhya Pradesh Power Management Company Limited (MPPMCL), a
moderate debt structure, stable operational performance for four
years and six months, and adequate debt service coverage ratio
(DSCR) over the currency of the instrument. However, the rating is
constrained by the proprietorship nature of the business, absence
of a waterfall mechanism as per the standard project finance
structure, lack of consolidation of cash flows into the designated
escrow account, and delayed receivables from MPPMCL.
KEY RATING DRIVERS
Significant Generation Risk: The rating is constrained by the
inherent generation uncertainty experienced by the wind projects.
The 16.50MW assets have a reasonable operating history and an
average plant load factor (PLF) of 21.37% in FY20 (FY19: 22.30%,
FY18: 20.66% FY17: 16.86%). The generation in the 12 months ended
September 2020 stood at 21.29%. Ind-Ra has considered a PLF of
20.50% in its base case projections, in line with the historical
performance. Overall, generation volatility constrains the rating.
Moderate Counterparty Risk: SDGWM signed a 25-year power purchase
agreement (PPA) with MPPMCL for a fixed tariff of INR5.92kWh in
June 2016. The distribution companies of Madhya Pradesh (Madhya
Pradesh Pash. Kshetra Vidyut Vitaran Co Ltd, Madhya Pradesh Poorv
Kshetra Vidyut Vitaran Co Ltd, and Madhya Pradesh Madhya Kshetra
Vidyut Vitran Co Ltd) have moderate financial and liquidity
profiles. This is marked by the elongation of the average
collection period from MPPMCL to 116 days in FY20 ( FY19: below 60
days). Timely receipts of payments from MPPMCL is a key rating
monitorable.
Modest Debt Structure: SDGWM has created a debt service reserve
account (DSRA) of INR100 million for more than two-quarters of debt
servicing. The structure has a balloon repayment and the current
rate of interest is 11.10%, a reduction of 50bp since the last
review. Although the PPA tenure of the wind plant is 25 years, the
door-to-door debt period is nine years and six months, therefore
concentrating the principal repayment over the shorter tenure
against other wind projects in Ind-Ra's portfolio. The lender also
has a first charge on the cash flow and assets of 15.60MW wind
project in Karnataka, other than 16.50MW assets in Madhya Pradesh.
Ind-Ra has conducted the rating exercise on a standalone basis,
considering the financials of 16.50MW wind assets only, since the
formation of an escrow account consolidating the cash flows from
the Karnataka and MP projects is pending. The cash flows from the
Gujarat and Karnataka projects are unencumbered as the projects are
debt-free.
Ind-Ra views the proprietorship structure as weaker than the
company structure, thereby limiting the rating. A waterfall
mechanism will restrict SDGWM's ability to distribute dividends.
Ind-Ra will monitor if the waterfall mechanism is incorporated in
the escrow agreement.
Moderate Operations Risk: SDGWM signed a five-year operations and
maintenance (O&M) agreement with ReGen Powertech Private Limited
(the equipment supplier) in November 2015. ReGen Powertech
subcontracted the O&M contract to Renom Energy Services LLP, which
is backed by the same sponsor group as SDGWM. Renom Energy Services
has about 1,000MW capacity of projects under its management,
catering to a diversified clientele across India. The O&M contract
rate is INR1.50 million per wind turbine generator per year with a
5% escalation every year is comparable to the peer set. The
management expects to renew the O&M contract directly with Renom
Energy Services by end-FY21 at the same rate. Ind-Ra considers the
sponsor's ability to manage operations risk as moderate, given that
it is operating a renewable portfolio of 126MW.
Liquidity Indicator - Adequate: SDGWM has maintained a DSRA
equivalent to about eight months of debt servicing amounting to
INR100 million as of September 30, 2020, against the stipulated
requirement of six months of debt servicing. The project's
coverages are adequate for various levels of stress applied to
generation, operating expenses, and interest rates. Ind-Ra believes
the firm has sufficient headroom in the form of DSRA in case of a
worsening receivables profile.
Experience in Renewable Energy: The Ghodawat group has an
operational wind capacity of 118MW and operational solar assets of
8.20MW as of September 30, 2020. The group has reasonable
experience in the installation and commissioning of wind turbines
and towers across Maharashtra, Gujarat, Madhya Pradesh, Rajasthan,
and Karnataka. The group also sells power to third parties.
Furthermore, the group has business interests in the FMCG,
textiles, air charter services, education and real estate sectors.
The combined net worth of the group as on 30 September 2020 stood
at INR15,000 million. Ind-Ra draws comfort from the experience of
the sponsor group in operating renewable assets with a pan India
presence.
RATING SENSITIVITIES
Positive: Future developments that could, individually or
collectively, lead to a positive rating action are:
• sustained improvement operational and financial performance
with an average DSCR above 1.15x;
• improvement in receivables cycle of the Madhya Pradesh
project;
and
• implementing a waterfall mechanism and consolidating the cash
flows from the Karnataka project into the escrow account
maintained for the Madhya Pradesh project.
Negative: Future developments that could, individually or
collectively, lead to a negative rating action are:
• a significant fall in PLF below 18.50% on a sustained basis;
• sustained elongation of the receivable cycle, resulting in
depletion of liquidity or credit profile deterioration of the
off-taker; and
• sustained moderation of average DSCR below 1.05x on account of
operational or financial performance.
COMPANY PROFILE
SDGWM, a proprietorship firm, operates three wind power projects in
Madhya Pradesh, Karnataka and Gujarat. The firm had drawn a term
loan of INR750 million for construction of the 16.50MW wind mill
project at Ghatiya, Madhya Pradesh. The project achieved commercial
operations in March 2016. The Karnataka and Gujarat projects are
operational since March 2007 and have PPAs for a period of 20 years
with Hubli Electricity Supply Company and Gujarat Urja Vikas Nigam
Limited, respectively.
SARJAN INFRACON: ICRA Lowers Rating on INR4cr Cash Loan to B+
-------------------------------------------------------------
ICRA has revised the ratings on certain bank facilities of Sarjan
Infracon Pvt. Ltd., as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Cash Credit 4.00 [ICRA]B+ (Stable) ISSUER NOT
COOPERATING; Rating downgraded
from [ICRA]BB+(Stable) and
continues to remain under
'Issuer Not Cooperating'
Category
Bank Guarantee 44.00 [ICRA]A4 ISSUER NOT
COOPERATING; Rating downgraded
from [ICRA]A4+ and continues
to remain under 'Issuer Not
Cooperating' category
Rationale
The rating downgrade is because of lack of adequate information
regarding Sarjan Infracon Pvt. Ltd. performance and hence the
uncertainty around its credit risk. ICRA assesses whether the
information available about the entity is commensurate with its
rating and reviews the same as per its "Policy in respect of
non-cooperation by a rated entity" available at www.icra.in. The
lenders, investors and other market participants are thus advised
to exercise appropriate caution while using this rating as the
rating may not adequately reflect the credit risk profile of the
entity, despite the downgrade.
As part of its process and in accordance with its rating agreement
with Sarjan Infracon Pvt. Ltd., ICRA has been trying to seek
information from the entity so as to monitor its performance, but
despite repeated requests by ICRA, the entity's management has
remained non-cooperative. In the absence of requisite information
and in line with the aforesaid policy of ICRA, a rating view has
been taken on the entity based on the best available information.
Incorporated in 2006, Sarjan Infracon Pvt. Ltd. is promoted by Mr.
Jayantibhai M. Patel and Mr. Dipakbhai J. Patel. Sarjan is an EPC
contractor involved in construction of R.C.C. roads, rigid
pavements, buildings, canals, dams, bridges etc. Sarjan is
registered as an 'AA' class contractor with the Government of
Gujarat and 'A' class with contractor with the Government of Madhya
Pradesh. These registrations provide Sarjan the ability to bid for
majority of the projects.
SAYAJI PACKAGING: ICRA Keeps B Debt Ratings in Not Cooperating
--------------------------------------------------------------
ICRA has continued the ratings for the INR7.50 crore bank
facilities of Sayaji Packaging Private Limited. The rating is
denoted as "[ICRA]B(Stable)/[ICRA]A4; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Cash Credit 3.00 [ICRA]B (Stable) ISSUER NOT
COOPERATING, Rating
continues to remain in the
'Issuer Not Cooperating'
Category
Term Loan 0.25 [ICRA]B (Stable) ISSUER NOT
COOPERATING, Rating
continues to remain in the
'Issuer Not Cooperating'
Category
Letter of Credit 3.00 [ICRA]A4 ISSUER NOT
COOPERATING, Rating continues
to remain in the 'Issuer Not
Cooperating' category
Unallocated
Limits 1.25 [ICRA]B (Stable) ISSUER NOT
COOPERATING, Rating
continues to remain in the
'Issuer Not Cooperating'
Category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not ax`dequately reflect the credit risk profile
of the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.
Incorporated in 2011, Sayaji Packaging Private Limited is engaged
in manufacturing tin cans for food and non-food packaging
applications. The unit is located at Savli in the Vadodra District
of Gujarat, with a production capacity of approximately 150 lakh
cans per annum. SPPL's promoters Mr. Fidahusain Tinwala, Ms.
Subhana Tinwala and Mr. Mazahir TInwala have reasonable experience
in manufacturing and marketing tin cans for paints, adhesives and
pesticides, etc., because of their association with other Group
companies, Modern Packaging and Sayaji Metal Cans, who are engaged
in the same business sector.
SEGAM TILES: ICRA Lowers Rating on INR30cr Term Loan to B+
----------------------------------------------------------
ICRA has revised the ratings on certain bank facilities of Segam
Tiles Pvt. Ltd., as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Cash Credit 10.00 [ICRA]B+ (Stable) ISSUER NOT
COOPERATING; Rating downgraded
from [ICRA]BB-(Stable) and
continues to remain under
'Issuer Not Cooperating'
Category
Term Loan 30.00 [ICRA]B+ (Stable) ISSUER NOT
COOPERATING; Rating downgraded
from [ICRA]BB-(Stable) and
continues to remain under
'Issuer Not Cooperating'
Category
Bank Guarantee 3.00 [ICRA]A4 ISSUER NOT
COOPERATING; Ratings continue
to remain in the 'Issuer Not
Cooperating' category
Rationale
The rating downgrade is because of lack of adequate information
regarding Segam Tiles Pvt. Ltd. performance and hence the
uncertainty around its credit risk. ICRA assesses whether the
information available about the entity is commensurate with its
rating and reviews the same as per its "Policy in respect of
non-cooperation by a rated entity" available at www.icra.in. The
lenders, investors and other market participants are thus advised
to exercise appropriate caution while using this rating as the
rating may not adequately reflect the credit risk profile of the
entity, despite the downgrade.
As part of its process and in accordance with its rating agreement
with Segam Tiles Pvt. Ltd., ICRA has been trying to seek
information from the entity so as to monitor its performance, but
despite repeated requests by ICRA, the entity's management has
remained non-cooperative. In the absence of requisite information
and in line with the aforesaid policy of ICRA, a rating view has
been taken on the entity based on the best available information.
Incorporated in 2016 by Mr. Kamlesh Rajkotiya and Mr. Mahesh
Kundariya along with their families, Segam Tiles Private Limited
manufactures double charged vitrified tiles. The manufacturing unit
is located at Morbi, Gujarat, with an installed production capacity
of 8,500 boxes of vitrified tiles per annum of the 600mX600m
dimension. STPL also manufactures higher size tiles of 800mX800m
and 1200mX1200m. The commercial operations started from March 2017.
Promoters have a decade-long experience in the ceramics industry,
and have also promoted Segal Ceramic Private Limited, which
manufactures ceramic wall tiles. STPL has another associate
concern, Antique Marbonite Private Limited, which also operates in
the same business sector.
SHAKTI AGRO: ICRA Keeps C+ Debt Ratings in Not Cooperating
----------------------------------------------------------
ICRA has continued the ratings for the INR9.90 crore bank
facilities of Shree Shakti Agro Industries. The rating is denoted
as "[ICRA]C+; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term: Fund 0.90 [ICRA]C+; ISSUER NOT
based term loan COOPERATING, Rating continues
to remain in the 'Issuer Not
Cooperating' category
Long Term: Fund 9.00 [ICRA]C+; ISSUER NOT
based cash credit COOPERATING, Rating continues
to remain in the 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best available/dated/
limited information on the issuers' performance. Accordingly, the
lenders, investors and other market participants are advised to
exercise appropriate caution while using this rating as the rating
may not adequately reflect the credit risk profile of the entity.
The rating action has been taken in accordance with ICRA's policy
in respect of non-cooperation by a rated entity available at
www.icra.in.
The promoters, Mr. Vikas Doda and Mr. Vijay Kumar, took over a
partially erected seed crushing plant in Ellenabad, Haryana from
the previous promoters and incorporated Shree Shakti Agro
Industries (SSAI) in the year 2015. The firm started commercial
manufacturing of mustard oil and cake and cottonseed oil and cake
in the existing unit. However, as one of the partners (Mr Vijay
Kumar) expired, Mrs Prem Lata (wife of Mr. Vikas Doda) has taken
over as the partner w.e.f July 1, 2017.
SHANTAN INNOVATIONS: Insolvency Resolution Process Case Summary
---------------------------------------------------------------
Debtor: Shantan Innovations Pvt. Ltd.
Registered office:
Flat No. 302, Block H
Scheme No. 94, Service Road
Gram-Pipliya Kumar
Ring Road, Indore
Madhya Pradesh 452001
Factory:
Plot No. 25
52 Hector New GIDC
Umargam, Valsad 396171
Insolvency Commencement Date: October 23, 2020
Court: National Company Law Tribunal, Bhopal Bench
Estimated date of closure of
insolvency resolution process: April 24, 2021
Insolvency professional: Amresh Shukla
Interim Resolution
Professional: Amresh Shukla
F-05, Jaideep Complex
112, Zone-II
M.P. Nagar
Bhopal-M.P. 462011
E-mail: insolvencyprofessionalsindia@
gmail.com
cirp.shantan@gmail.com
Last date for
submission of claims: November 9, 2020
SHRISHTI TECHNOLOGIES: ICRA Keeps B+ Rating in Not Cooperating
--------------------------------------------------------------
ICRA said the ratings for the INR6.00 crore bank facilities of
Shrishti Technologies continue to remain in the 'Issuer Not
Cooperating' category. The ratings are denoted as "[ICRA]B+
(Stable) ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 6.00 [ICRA]B+ (Stable) ISSUER NOT
Fund Based/ COOPERATING; Rating continues
Cash credit to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis dated information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity.
Shrishti Technologies manufactures and assembles electric fans for
Bajaj Electrical Limited, Luminous Power Technologies Private
Limited, Maharaja Whiteline Industries Private limited, Surya, and
Anchor Electricals Private Limited. The firm has its manufacturing
facility in Baddi, Himachal Pradesh.
SITARAM MAHARAJ: ICRA Keeps D Debt Ratings in Not Cooperating
-------------------------------------------------------------
ICRA said the ratings for the INR100.00 crore bank facilities of
Sitaram Maharaj Sakhar Karkhana (Khardi) Ltd continue to remain in
the 'Issuer Not Cooperating' category. The rating is denoted as
"[ICRA]D; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 50.00 [ICRA]D; ISSUER NOT COOPERATING;
Term Loan Rating continues to remain under
'Issuer Not Cooperating'
Category
Fund based 100.00 [ICRA]D; ISSUER NOT COOPERATING;
Working Rating continues to remain under
Capital 'Issuer Not Cooperating'
Facilities Category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best available/dated/
limited information on the issuers' performance. Accordingly, the
lenders, investors and other market participants are advised to
exercise appropriate caution while using this rating as the rating
may not adequately reflect the credit risk profile of the entity.
The rating action has been taken in accordance with ICRA's policy
in respect of non-cooperation by a rated entity available at
www.icra.in.
Incorporated in 2010, the Pandharpur, District Solapur
(Maharashtra) based Sitaram Maharaj Sakhar Karkhana (Khardi) Ltd
has installed crushing capacity of 2500 Tons Crushed Per Day (TCD)
which is integrated with a co-generation unit of 10 MW. The
catchment area of the company extends to villages primarily located
in Pandharpur Taluka.
SPACETECH EQUIPMENTS: ICRA Keeps D Ratings in Not Cooperating
-------------------------------------------------------------
ICRA said the ratings for the INR6.00 crore bank facilities of
Spacetech Equipments & Structurals Private Limited (SESPL) continue
to remain in 'Issuer Not Cooperating' category. The rating is
denoted as "[ICRA]D/[ICRA]D; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 1.75 [ICRA]D ISSUER NOT COOPERATING;
Working Rating continues to remain under
Capital 'Issuer Not Cooperating'
Category
Non-fund Based 4.20 [ICRA]D ISSUER NOT COOPERATING;
Bank Guarantee/ Rating continues to remain under
Letter of Credit 'Issuer Not Cooperating'
Category
Unallocated 0.05 [ICRA]D/[ICRA]D ISSUER NOT
limits COOPERATING; Rating continues to
remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis dated information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity.
Established in 1982, SESPL is involved in the fabrication of
pressure vessels, with its facility at Ambernath in Thane district
of Maharashtra. SESPL's fabrication facility is ISO 9001-2000
certified and the pressure vessels manufactured by the company find
application mainly in the steel, oil and gas, power and engineering
sectors.
SPECIALITY SILICA: Ind-Ra Lowers Long Term Issuer Rating to BB-
---------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Speciality
Silica Private Limited's (SSPL) Long-Term Issuer Rating to 'IND
BB-' from 'IND BB (ISSUER NOT COOPERATING)' and simultaneously
withdrawn it. The Outlook was Stable.
The instrument-wise rating actions are:
-- INR48.90 mil. Term loan* due on January 2026 downgraded and
withdrawn; and
-- INR77.5 mil. Fund-based working capital limits** Long-term
rating downgraded; short-term rating affirmed and withdrawn.
*Downgraded at 'IND BB-/Stable' before being withdrawn
**Long-term rating downgraded to 'IND BB-'/Stable and short-term
rating affirmed at 'IND A4+' before being withdrawn
Ind-Ra is no longer required to maintain the ratings as the agency
has received a no objection certificate from the rated facilities'
lender. This is consistent with the Securities and Exchange Board
of India's circular dated March 31, 2017 for credit rating
agencies.
KEY RATING DRIVERS
The downgrade reflects a decline in SSPL's revenue to INR220.55
million in FY20 (FY19: INR250.15 million) owing to lower sales,
resulting from the nation-wide COVID-19 led lockdown starting 22
March 2020. The company's scale of operations remains small. The
agency, however, expects the revenue to improve in FY21, owing to
an increase in demand from automobile tire manufacturing and
consumer goods segments. FY20 financials are provisional.
The ratings continue to be constrained by the company's modest
credit metrics. The interest coverage (operating EBITDA/gross
interest expense) marginally deteriorated to 2.52x in FY20 (FY19:
2.75x) on account of an increase in interest expenses; however, the
net leverage (adjusted net debt/operating EBITDAR) improved to
6.02x (6.80x) due to an improvement in absolute EBITDA. Ind-Ra
expects the credit metrics to improve marginally in FY21 on the
back of a likely improvement in the absolute EBITDA in FY21. The
company does not have any outstanding term loan.
The ratings continue to be constrained by SSPL's modest EBITDA
margin, despite an improvement to 13.46% in FY20 (FY19: 10.86%) on
account of a decrease in the raw material cost and administration
expenses. The company's return on capital employed was 7.5% in
FY20 (FY19: 6.8%). Ind-Ra expects the margin to improve marginally
in FY21 on account of SSPL's entry into consumer goods segment for
the sale of silica gel used in toothpaste.
Liquidity Indicator - Poor: The company utilized 96% of its working
capital limits during the 12 months ended September 2020. The net
working capital cycle elongated to 399 days in FY20 (FY19: 350
days), mainly on account of stretched inventory period of 318 days
(271 days). Ind-Ra expects the working capital cycle to elongate
further in FY21, due to the COVID-19 led disruptions. However, cash
flow from operations turned positive to INR13.36 million in FY20
(FY19: negative INR9.23 million) on the back of favorable changes
in working capital. Ind-Ra expects the liquidity position to
deteriorate in FY21 due to the continued high utilization of the
working capital limits owing to stretched inventory holding period
(FY20: 318 days, FY19: 271 days) and debtor days. SSPL has not
availed the Reserve Bank of India-prescribed moratorium for debt
repayment.
However, the ratings continue to be supported by the company's
promoter's 15 years of experience in the manufacturing of silica.
COMPANY PROFILE
Incorporated in 2004, SSPL manufactures silica at its 7,200
million tons per annum plant in Rajasthan.
SPICEJET LTD: Gets Payment Reprieve from India's Supreme Court
--------------------------------------------------------------
Bloomberg News reports that India's Supreme Court stayed an order
directing SpiceJet Ltd. to deposit INR2.4 billion ($32.5 million)
with a lower court, a relief for the cash-strapped low-cost
carrier.
A three-judge bench headed by Chief Justice Sharad A. Bobde agreed
to SpiceJet's request to put on hold a Delhi High Court order to
deposit the money, saying there was no precedent for such a
directive to be given. The bench will hear the case again after
another four weeks, Bloomberg says.
According to Bloomberg, SpiceJet and its chairman Ajay Singh are in
a legal dispute with the carrier's former owner, billionaire
Kalanithi Maran, who claimed damages over a share transfer in 2014.
The company was ordered to pay Maran the INR2.4 billion as part of
a ruling in July 2018. SpiceJet disputes that figure, which is
based on interest Maran claimed he was owed.
Like other airlines around the world, SpiceJet has been hit hard by
the coronavirus pandemic. The carrier had cash and cash equivalents
of INR281.6 million as of March 31, compared with current
liabilities of INR66.5 billion and long-term liabilities of INR79
billion, Bloomberg discloses citing latest available data.
About Spicejet
SpiceJet Limited -- http://www.spicejet.com/-- is an India-based
low-budget air carrier. The Company operates daily flights
between major cities in India. The carrier is India's second-
biggest budget airline, after IndiGo.
As reported in the Troubled Company Reporter-Asia Pacific on
July 21, 2020, 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.
SUNSHINE EDIBLE: ICRA Keeps B+ Debt Ratings in Not Cooperating
--------------------------------------------------------------
ICRA said the ratings for the INR25.00 crore bank facilities of
Sunshine Edible Oils (SEO) continue to remain under 'Issuer Not
Cooperating' category. The ratings are denoted as "[ICRA]B+(Stable)
ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based 5.0 [ICRA]B+(Stable); ISSUER NOT
Term Loan COOPERATING; Continues to
Remain under the 'Issuer Not
Cooperating' category
Fund based 20.0 [ICRA]B+(Stable); ISSUER NOT
Cash Credit COOPERATING; Continues to
Remain under the 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.
Sunshine Edible Oils (SEO), established in December 2014, is a
partnership firm that manufactures mustard oil and oil cake at
Chousla village, Ajmer with an installed plant capacity to 24,00
MTPA. The project has 10 expellers and 88 kohlus set up at a cost
of ~INR9.0 crore funded through a term loan of INR5.0 crore. It
started commercial operations in May 2016.
SUVARNA LAKSHMI: ICRA Keeps B+ Debt Ratings in Not Cooperating
--------------------------------------------------------------
ICRA said the ratings for the INR27.20 crore bank facilities of
Suvarna Lakshmi Jewellers (SLJ) continue to remain under Issuer Not
Cooperating category. The long-term and short-term rating is
denoted as [ICRA]B+(Stable) ISSUER NOT COOPERATING.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 18.00 [ICRA]B+ (Stable) ISSUER NOT
Fund Based/ COOPERATING; Rating continues
CC to remain under 'Issuer Not
Cooperating' category
Long Term- 9.20 [ICRA]B+(Stable) ISSUER NOT
Unallocated COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis dated information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity.
Suvarna Lakshmi Jewellers (SLJ) was founded in FY2009 to start the
business of branded jewellery retail. The firm operates as a
level-3 dealer of Tanishq's jewellery products. SLJ operates
through its own showroom located at Dilsukhnagar, Hyderabad. The
firm is promoted and managed by Mr. B Satya Prakash Rao and his
family members.
SWAPNA PRINTING: Ind-Ra Lowers Long Term Issuer Rating to BB
------------------------------------------------------------
India Ratings and Research (Ind-Ra) has downgraded Swapna Printing
Works Private Limited's (SPWPL) Long-Term Issuer Rating to 'IND BB
(ISSUER NOT COOPERATING)' from 'IND BBB- (ISSUER NOT COOPERATING)'.
The issuer did not participate in the rating exercise despite
continuous requests and follow-ups by the agency.
The instrument-wise rating actions are:
-- INR20 mil. Fund-based limits downgraded with IND BB (ISSUER
NOT COOPERATING) rating;
-- INR40 mil. Proposed fund-based limits* downgraded with
Provisional IND BB (ISSUER NOT COOPERATING) rating; and
-- INR70 mil. Non-fund-based limits downgraded with IND A4+
(ISSUER NOT COOPERATING) rating.
*The final rating will be contingent upon the receipt of the
executed documents conforming to the information already received
by Ind-Ra.
COMPANY PROFILE
Incorporated in 1984, SPWPL is promoted by Buddha Dev Bhattacharjee
and Arunava Bhattacharjee. The company prints books, mainly for
various education boards.
TEAM KRIAN: ICRA Lowers Rating on INR15cr LT Loan to B+
-------------------------------------------------------
ICRA has revised the ratings on certain bank facilities of Team
Krian, as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 15.00 [ICRA]B+(Stable) ISSUER NOT
Fund Based/CC COOPERATING Rating downgraded
from [ICRA]BB+(Stable) and
continues to remain in the
'Issuer Not Cooperating'
Category
Rationale
The ratings downgrade is because of lack of adequate information
regarding Team Krian's performance and hence the uncertainty around
its credit risk. ICRA assesses whether the information available
about the entity is commensurate with its rating and reviews the
same as per its "Policy in respect of non-cooperation by a rated
entity" available at www.icra.in. The lenders, investors and other
market participants are thus advised to exercise appropriate
caution while using this rating as the rating may not adequately
reflect the credit risk profile of the entity, despite the
downgrade.
As part of its process and in accordance with its rating agreement
with Team Krian, ICRA has been trying to seek information from the
entity so as to monitor its performance, but despite repeated
requests by ICRA, the entity's management has remained
non-cooperative. In the absence of requisite information and in
line with the aforesaid policy of ICRA, a rating view has been
taken on the entity based on the best available information.
Incorporated in 2002 by Mr. Vivek Gupta, Team Krian is a
partnership firm which manufactures high-end fashion garments,
primarily for women. There are two manufacturing facilities of the
firm located at Greater Noida and Noida (Uttar Pradesh). The firm
has an installed capacity to manufacture ~25 lakh garment pieces
per annum. It exports garments and its clientele includes
well-known brands like Zara, Mango, Next, etc.
THAKAR DASS: ICRA Keeps B+ Debt Ratings in Not Cooperating
----------------------------------------------------------
ICRA said the ratings for the INR12.50 crore bank facilities of
Thakar Dass & Co. continue to remain in the 'Issuer Not
Cooperating' category. The ratings are denoted as "[ICRA]B+
(Stable)/A4 ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term- 5.00 [ICRA]B+ (Stable) ISSUER NOT
Fund Based/CC COOPERATING, Rating
continues to remain in the
'Issuer Not Cooperating'
Category
Short Term- 4.50 [ICRA]A4; ISSUER NOT
Non Fund Based COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Long term: 3.00 [ICRA]B+ (Stable) ISSUER NOT
Unallocated COOPERATING, Rating
continues to remain in the
'Issuer Not Cooperating'
Category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis dated information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity.
TDC is a partnership firm. It trades rubber chemicals, synthetic
rubbers, carbon black etc. The firm is based in New Delhi with
regional sales offices in Faridabad, Ghaziabad, Meerut, Agra,
Kanpur, Rudrapur and Punjab. It also has warehouses in Faridabad
and New Delhi. The firm sources its products from domestic
suppliers as well as through imports, and sells the products to
both traders as well as manufacturers of automobiles, footwear etc.
THERMOSET POLY: ICRA Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
ICRA said the rating for the INR5.00 crore bank facilities of
Thermoset Poly Products (I) Pvt. Ltd. (Thermoset) continues to be
'Issuer Not Cooperating' category. The rating is denoted as
"[ICRA]D; ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 5.00 [ICRA]D; ISSUER NOT COOPERATING;
Cash Credit Rating continues to remain under
'Issuer Not Cooperating'
Category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis dated information on the
issuers' performance. Accordingly, the lenders, investors and other
market participants are advised to exercise appropriate caution
while using this rating as the rating may not adequately reflect
the credit risk profile of the entity.
Thermoset Poly Products (I) Pvt. Ltd. (Thermoset) was established
in 1993 and is engaged in manufacturing of fibrer einforced
plastic/glass-fiber reinforced plastic (FRP/GRP) and other
engineering plastics. The management has an experience of more than
four decades in the field. The company has a manufacturing facility
of 40,000 sq. ft. spread over an area of 1,60,000 sq. ft. located
at Panvel, Raigarh.
UNION ENTERPRISES: ICRA Keeps D Debt Ratings in Not Cooperating
---------------------------------------------------------------
ICRA said the ratings for the INR22.89 crore bank facilities of
Union Enterprises (UE) continue to remain under 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]D/[ICRA]D
ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund Based-CC 6.40 [ICRA]D ISSUER NOT COOPERATING;
Rating continues to remain
under 'Issuer Not Cooperating'
category
Fund based–TL 9.57 [ICRA]D ISSUER NOT COOPERATING;
Rating continues to remain
under 'Issuer Not Cooperating'
category
Unallocated 6.92 [ICRA]D/[ICRA]D ISSUER NOT
COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best available
information on the issuers' performance. Accordingly the lenders,
investors and other market participants are advised to exercise
appropriate caution while using this rating as the rating may not
adequately reflect the credit risk profile on the entity.
Union Enterprises (UE) has been in the business of manufacturing
TMT bar and rod since 1975. The production facility is located in
the Adityapur Industrial Area in Jamshedpur, Jharkhand. UE
manufactures TMT bars wherein billets/pencil ingots are used as the
major raw material.
VEEPEE COTEX: ICRA Keeps B Debt Ratings in Not Cooperating
----------------------------------------------------------
ICRA said the ratings for the INR6.00 crore bank facilities of
Veepee Cotex Corporation continue to remain in the 'Issuer Not
Cooperating' category. The rating is denoted as "[ICRA]B (Stable)
ISSUER NOT COOPERATING".
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 3.25 [ICRA]B (Stable) ISSUER NOT
Term Loan COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
Fund based- 2.75 [ICRA]B (Stable) ISSUER NOT
Cash Credit COOPERATING; Rating continues
to remain under 'Issuer Not
Cooperating' category
ICRA has been trying to seek information from the entity so as to
monitor its performance, but despite repeated requests by ICRA, the
entity's management has remained non-cooperative. The current
rating action has been taken by ICRA basis best
available/dated/limited information on the issuers' performance.
Accordingly, the lenders, investors and other market participants
are advised to exercise appropriate caution while using this rating
as the rating may not adequately reflect the credit risk profile of
the entity. The rating action has been taken in accordance with
ICRA's policy in respect of non-cooperation by a rated entity
available at www.icra.in.
Veepee Cotex Corporation is a partnership firm established in 2015
by Mr. Prakash Bharsakale and Mr.Vijay Bharsakale. VCC is engaged
into processing of cotton bales and cotton seeds with its plant
located at Daryapur, Amaravati, Maharashtra. The installed capacity
for cotton bales processing is 200 bales per day and 1MT/day for
cotton seeds.
VIPUL INDUSTRIES: ICRA Lowers Rating on INR3.57cr Loan to B+
------------------------------------------------------------
ICRA has revised the ratings on certain bank facilities of Vipul
Industries Private Limited, as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Fund based- 1.09 [ICRA]B+ (Stable) ISSUER NOT
Term Loan COOPERATING; Rating downgraded
from [ICRA]BB(Stable) and
continues to remain under
'Issuer Not Cooperating'
Category
Fund based- 3.57 [ICRA]B+ (Stable) ISSUER NOT
Working Capital COOPERATING; Rating downgraded
Loan from [ICRA]BB(Stable) and
continues to remain under
'Issuer Not Cooperating'
Category
Fund based- 9.90 [ICRA]B+ (Stable) ISSUER NOT
Overdraft COOPERATING; Rating downgraded
from [ICRA]BB(Stable) and
continues to remain under
'Issuer Not Cooperating'
Category
Rationale
The rating downgrade is because of lack of adequate information
regarding Vipul Industries Private Limited performance and hence
the uncertainty around its credit risk. ICRA assesses whether the
information available about the entity is commensurate with its
rating and reviews the same as per its "Policy in respect of
non-cooperation by a rated entity" available at www.icra.in. The
lenders, investors and other market participants are thus advised
to exercise appropriate caution while using this rating as the
rating may not adequately reflect the credit risk profile of the
entity, despite the downgrade.
As part of its process and in accordance with its rating agreement
with Vipul Industries Private Limited, ICRA has been trying to seek
information from the entity so as to monitor its performance, but
despite repeated requests by ICRA, the entity's management has
remained non-cooperative. In the absence of requisite information
and in line with the aforesaid policy of ICRA, a rating view has
been taken on the entity based on the best available information.
Vipul Industries Private Limited manufactures women's dress
materials in a variety of fabrics, both dyed and printed. The
products are sold under the brand, 'Vipul'. Using processed yarn as
its raw material, VIPL manages the total production from yarn
twisting to fabric dyeing, printing, embroidery and packaging.
Along with its group company, Ayaan Trendz Private Limited, VIPL
sells its products in India and abroad through a dedicated
distributor network under the 'Vipul' brand. VIPL's registered
office and manufacturing facility are in Surat, Gujarat.
VR FOUNDRIES: Ind-Ra Assigns 'B-' LT Issuer Rating, Outlook Stable
------------------------------------------------------------------
India Ratings and Research (Ind-Ra) has assigned VR Foundries (VRF)
a Long-Term Issuer Rating of 'IND B-'. The Outlook is Stable.
The instrument-wise rating actions are:
-- INR280 mil. Term loan due on October 2033 assigned with
IND B-/Stable rating;
-- INR150 mil. Fund-based facilities assigned with IND B-
/Stable/IND A4 rating; and
-- INR40 mil. Non-fund-based facilities assigned with IND A4
rating.
KEY RATING DRIVERS
The ratings reflect VRF's medium scale of operations as indicated
by revenue of INR1,505 million in FY20 (FY19: INR1,745 million)
The decline in revenue was due to a reduction in the number of
orders received from existing as well as new customers, owing to
the slowdown in the automobile industries. FY20 financials are
provisional in nature.
The ratings also factor in VRF's modest credit metrics as indicated
by interest coverage (operating EBITDA/interest expense) of 2.3x in
FY20 (FY19: 2.0x) and net leverage (total adjusted net
debt/operating EBITDA) of 5.1x (4.4x). The improvement in credit
metrics was mainly due to repayment of the term loan.
Liquidity Indicator - Poor. The firm's fund-based facilities were
fully utilized during the 12 months ended October 2020. VRF's cash
flow from operation increased to INR120 million in FY20 (FY19:
INR116 million) due to an improvement in the working capital cycle
to negative 13 days (13 days). The firm had a cash balance of INR2
million at FYE20 (FYE19: INR8 million). It has scheduled repayment
of INR84 million during FY21. The firm had availed the Reserve Bank
of India prescribed moratorium from all the banks under the
COVID-19 relief package during March to August 2020.
However, the ratings are supported by VRF's healthy EBITDA margin
of 13.3% in FY20 (FY19: 11.5%) with a return on capital employed of
28% (21%). The EBITDA margin improved due to a reduction in raw
material prices owing to a lower demand in the automobile
industry.
The ratings are also supported by the promoters more than two
decades of experience in iron casting industry.
RATING SENSITIVITIES
Positive: Improvement in the liquidity and revenue while
maintaining the EBITDA margin leading to improvement in the credit
metrics will be positive for the ratings.
Negative: Any stretch in the liquidity position, along with a
decline in the revenue or EBITDA margin, resulting in a sustained
deterioration in the credit metrics, could lead to negative rating
action.
COMPANY PROFILE
Incorporated in 1974, VRF manufactures grey iron casting, mainly
used in the automobiles and textile sectors, with a production
capacity of 30,000 metric tons per annum.
=================
I N D O N E S I A
=================
MNC INVESTAMA: Noteholders OK Scheme to Restructure US$231MM Notes
------------------------------------------------------------------
K.C. Vijayan at The Straits Times reports that recent debt
restructuring cases underscore Singapore's position as a regional
insolvency hub, with the latest being a note holders' go-ahead last
week for a Jakarta-based conglomerate's scheme to restructure
US$231 million (SGD311 million) of secured notes due next year.
The report relates that the note holders, who are a class of
creditors of PT MNC Investama holding at least 75 per cent value of
the claims, voted on Nov. 5 in favor of the "pre-packaged" scheme
of arrangement.
In a pre-packaged scheme, a debtor company can seek court sanction
for a scheme without the need to go to court first to get leave to
convene a statutory meeting, if the court is convinced the scheme
would have passed, had a meeting been called, The Straits Times
says.
According to the report, PT MNC had earlier this year obtained a
moratorium against creditor enforcement on the company's assets
from the Singapore High Court, said lawyer Tan Mei Yen, head of the
insolvency and restructuring practice at Oon & Bazul.
"This pre-packaged arrangement procedure is particularly suited for
less contentious restructurings where the significant majority of
the company's creditors are supportive of the scheme. In such
cases, the procedure saves the time and costs associated with the
convening of a statutory meeting, which also includes a court
application for leave to convene the meeting," the report quotes
Ms. Tan as saying.
PT MNC, whose business activities include media, financial services
and lifestyle property, had issued US$231 million of the Singapore
Exchange (SGX)-listed senior secured notes due in 2021, the report
notes.
Invoking the Insolvency, Restructuring and Dissolution Act (IRDA),
the firm aimed, through the arrangement scheme, to replace the
notes due next year with a mix of new notes and new shares, as it
faced financial disruption from the Covid-19 pandemic, said the
Global Restructuring Review, a London-based global publication on
cross-border restructuring and insolvency law, last month,
according to The Straits Times.
Ms. Tan said: "We have found the pre-packaged scheme of arrangement
procedure to be popular with Indonesian companies seeking to
restructure their bonds issued on SGX - we are currently advising
at least one other major Indonesian group of companies in relation
to a similar procedure."
She said the application by PT MNC for moratorium protection under
the IRDA is significant, because it is the first Indonesian company
known to have made such an application, the report relays.
"The High Court decision on the application earlier this year lends
clarity and opens the door to other foreign companies in similar
positions to seek to restructure in Singapore, and to apply for the
moratorium protection that is available under Singapore's
restructuring regime," Ms. Tan, as cited by The Straits Times,
said.
She added that Indonesia-based Modernland group very recently
obtained moratorium protection in Singapore and is similarly
seeking to adopt a pre-packaged scheme of arrangement, the report
adds.
Industry players anticipate that given the economic distress caused
by Covid-19 in the Asia-Pacific region, more companies will look to
Singapore to carry out their restructuring, the Straits Times
notes.
"Cross-border insolvencies are regarded as a potential growth area,
and there would be more impetus and opportunity for foreign
insolvency cases to be ventilated or otherwise dealt with in
Singapore," the report quotes senior law partner Justin Chan from
Tito Isaac & Co as saying.
The Straits Times adds that BlackOak managing partner Ashok Kumar
said: "Singapore's rise as a restructuring and insolvency hub will
help to boost the legal and financial services sector in the
country and grow the market."
The Singapore market has also seen a rise in restructuring and
insolvency activities, the report relates.
According to the report, veteran lawyer Beatrice Yeo said there
have been concerns raised here over firms commercially affected by
the pandemic.
She noted that the Government has been addressing this area with
moves such as a debt moratorium.
"At Yeo & Associates, we see a surge in companies and individuals
seeking viable methods to provide assurance to their creditors, and
also to pace their financial obligations to banks and financial
institutions," the report quotes Ms. Yeo, the firm's founder and
managing director, as saying. "They are actually doing their best
to be responsible for their financial debts and liabilities. The
new laws would provide an easier exit for clearly unsustainable
businesses," she added.
About PT. MNC Investama
PT. MNC Investama Tbk. is an investment company in Indonesia with a
scope of business that spans media, financial services, property,
as well as portfolio investments. The Company, through its
subsidiaries, covers a portfolio of free-to-air tv stations, pay
tv, online media platforms, offers a complete range of financial
products, and engages in themepark, resort & property development.
As reported in the Troubled Company Reporter-Asia Pacific on Aug.
11, 2020, Moody's Investors Service withdrew the Caa1 corporate
family rating of MNC Investama Tbk. (P.T.) and Caa2 senior secured
ratings with negative outlook. Moody's has decided to withdraw the
ratings because it believes it has insufficient or otherwise
inadequate information to support the maintenance of the ratings.
=====================
N E W Z E A L A N D
=====================
TICKET ROCKET: Owes Millions, Receivers Question Company's Books
----------------------------------------------------------------
Jono Galuszka at Stuff.co.nz reports that a ticketing company that
collapsed owing money to Super Rugby franchises is in a massive
financial hole, owing nearly NZD5 million to the bank and more than
NZD2 million to promoters.
But receivers in control of Ticket Rocket have questions over the
business' true financial state, Stuff says.
Ticket Rocket and associated companies were placed in receivership
in August.
Stuff relates that the move came on the back of an ever-increasing
number of stories about how the ticket agent was failing to pay
refunds for events cancelled due to the coronavirus lockdown.
The news became much worse after the Palmerston North City Council
managed to get NZD676,000 of Ticket Rocket's money frozen in June
– a move the company tried to get suppressed, the report notes.
The Hurricanes and Crusaders Super Rugby franchises had one of the
Ticket Rocket companies, Fortress Information Systems Ltd, placed
in liquidation in October over unpaid bills totalling NZD341,000,
recalls Stuff.
Receivers BDO have been trying to sell Ticket Rocket's assets
since, Stuff notes.
According to Stuff, BDO's first set of reports on the Ticket Rocket
companies, released in November, placed the blame at the feet of
the coronavirus lockdown, which resulted in more than 150 events
Ticket Rocket provided ticket services for being cancelled.
The reports show a range of inter-company loans and financial
headaches for receivers, Stuff says.
Annual financial statements for 2018 and 2019 had not been signed
off by an accountant, while the 2020 statements and tax returns had
not been completed.
According to the receivers' reports, the companies collectively owe
at least NZD8.4 million, Stuff discloses.
The biggest bill was NZD4.95 million owed to Bank of New Zealand in
loans and overdrafts.
Receivers believed a "significant number of refunds" for
coronavirus-effected events were paid via the overdraft, BDO said
in its reports, Stuff relays.
Some promoters, however, were still waiting to be paid, making up
NZD2.29 million of the NZD2.8 million owed to unsecured creditors.
Stuff says people still awaiting refunds would also likely be
unsecured creditors, with receivers still figuring out how big that
pool could be.
However, that situation could change depending on how the money was
held.
If the ticket proceeds were held on trust -- something promoters
have told Stuff is the norm and was at the root of the city
council's legal action -- then the claims would be secured, BDO
said, Stuff relays.
Being secured significantly increases the likelihood of being paid
out.
However, the current claims from ticket buyers and promoters easily
outstripped the funds the companies held at the time the
receivership.
It was too early to say if any unsecured creditors would be paid,
as investigations into how much was owed continued in the face of
"inaccurate and incomplete pre-receivership books and records",
BDO, as cited by Stuff, said.
Receivers previously told Stuff ticket revenue collected after they
were appointed would be safe.
To add another issue to the pile, some Ticket Rocket-linked
companies are being investigated by the Ministry of Social
Development over subsidies, the report adds.
=====================
P H I L I P P I N E S
=====================
WIRECARD: Philippine Authorities Probe Transactions of Law Office
-----------------------------------------------------------------
The Financial Times reports that Philippine authorities are probing
the financial transactions of a law office and a tour operator for
possible connections to Wirecard, the collapsed German payments
firm, and its former chief operating officer Jan Marsalek, a
government official said.
Menardo Guevarra, the Philippine justice secretary, also said on
Nov. 8 that three immigration officials were formally charged and
"preventively suspended" for 90 days last month in connection with
the missing Austrian executive's travel records, which falsely
showed him entering and leaving the south-east Asian country in
June.
"I confirm that our National Bureau of Investigation has been
examining the financial transactions of a certain law office that
appears to have provided legal services to Wirecard/Jan Marsalek,
and financial records of a tour operator owned by persons with
business connections with Wirecard/Marsalek," Mr. Guevarra told the
Financial Times in a text message.
Mr. Guevarra said he expected the probe to be finished by the end
of the year, but declined to provide the names of the companies
under investigation, saying the information could compromise the
probe if it was prematurely disclosed, the FT relays.
"We shall provide more details after the NBI has completed its
ongoing investigation, with the co-operation of the [Philippines]
Anti-Money Laundering Council," the FT quotes Mr. Guevarra as
saying.
Wirecard plunged into insolvency in June after acknowledging that
EUR1.9 billion was missing from its accounts, in one of Germany's
biggest business failures in decades. The company's Asian
headquarters are in Singapore, but the Philippines was a principal
location for its partner businesses in the region.
The FT says the missing money was purportedly held in escrow
accounts by two banks in the Philippines: BDO Unibank and Bank of
the Philippine Islands. Benjamin Diokno, governor of the
Philippines central bank, has said the money never entered the
country while the lenders themselves said documents claiming the
money was held on account with them were fraudulent, the FT
relates.
According to the FT, Philippine regulators in June launched an
investigation into Wirecard's local partner businesses. It includes
Centurion Online Payment International, PayEasy Solutions and
ConePay International, which were among those identified in an FT
investigation last year that appeared -- on paper at least -- to do
substantial business with Wirecard.
PayEasy's offices doubled as headquarters of Froehlich Tours, a bus
and coach rental business that operates across the Philippines.
PayEasy and Froehlich were both linked to Christopher Bauer, a
German former Wirecard Asia-Pacific executive who was reported dead
in Manila in late July, a month after authorities announced he was
under investigation over Wirecard's collapse, the FT notes.
Mr. Marsalek disappeared in the run-up to the company's implosion,
the report says. Interpol added the executive to its "red list" of
fugitives wanted for prosecution in August to face charges of
violating Germany's securities and securities trading laws, serious
fraud and breach of trust.
The FT relates that Philippine immigration records showed that Mr.
Marsalek flew to Manila on June 23, then left for China on June 24
from the central city of Cebu. However, Philippine authorities
later concluded he never entered the country, after examining CCTV
footage, airline manifests and other records.
Singapore in September ordered Wirecard to cease payment services
in the city state, which is probing the company and parties linked
to the payments processor, the FT adds.
About Wirecard
Wirecard AG offered Internet payment and processing services. The
Company provided software and systems for online payment,
electronic funds transfer, fraud protection and enterprise
solutions. Wirecard also offered call center services.
In 2017, Wirecard acquired 20,000 merchant clients of Citibank,
spread over 11 Asia-Pacific countries, in an ambitious deal that
was intended to make the company a household name across the
region, according to the Financial Times. Citigroup has said it
exited the business globally.
On August 25, 2020, the Local Court of Munich opened insolvency
proceedings regarding the assets of Wirecard AG and six other
German Wirecard companies and appointed Dr. jur Michael Jaffe of
the law firm JAFFE Rechtsanwalte as insolvency administrator. As a
result, the power of disposal over the assets of the insolvent
companies is transferred to the insolvency administrator.
This also marks the end of the insolvency payment period meaning
Wirecard AG and the other insolvent companies will have to generate
and pay their own wages and salaries again from this date. At the
time of filing for insolvency at the end of June 2020, no liquidity
was available for this purpose. Under the preliminary insolvency
administration, it has since been possible to stabilize the ongoing
business and create a basis for its continuation.
===============
X X X X X X X X
===============
[*] BOND PRICING: For the Week Nov. 2, 2020 to Nov. 6, 2020
-----------------------------------------------------------
Issuer Coupon Maturity Currency Price
------ ------ -------- -------- -----
AUSTRALIA
---------
ACN 113 874 712 PTY LTD 13.25 02/15/18 USD 0.13
ACN 113 874 712 PTY LTD 13.25 02/15/18 USD 0.13
CLEAN SEAS SEAFOOD LTD 8.00 11/18/22 AUD 1.06
CLIME CAPITAL LTD/FUND 6.25 11/30/21 AUD 0.98
PALADIN ENERGY LTD 10.00 02/01/23 USD 59.69
PALADIN ENERGY LTD 10.00 02/01/23 USD 59.69
VIRGIN AUSTRALIA HOLDIN 7.88 10/15/21 USD 10.03
VIRGIN AUSTRALIA HOLDIN 7.88 10/15/21 USD 10.03
VIRGIN AUSTRALIA HOLDIN 8.13 11/15/24 USD 6.62
VIRGIN AUSTRALIA HOLDIN 8.08 03/05/24 AUD 6.01
VIRGIN AUSTRALIA HOLDIN 8.25 05/30/23 AUD 5.90
VIRGIN AUSTRALIA HOLDIN 8.13 11/15/24 USD 4.94
VIRGIN AUSTRALIA HOLDIN 8.00 11/26/24 AUD 4.94
CHINA
-----
AKESU DISTRICT GREEN IN 4.09 03/11/23 CNY 60.00
AKESU DISTRICT GREEN IN 4.09 03/11/23 CNY 59.47
AKESU XINCHENG ASSET IN 6.40 04/20/22 CNY 40.24
AKESU XINCHENG ASSET IN 6.40 04/20/22 CNY 40.18
ALTAY PREFECTURE STATE- 4.85 01/22/23 CNY 60.70
ALTAY PREFECTURE STATE- 4.85 01/22/23 CNY 59.62
AN SHUN YU KUN REAL EST 5.48 11/10/21 CNY 69.59
ANHUI FOREIGN ECONOMIC 7.30 07/13/21 CNY 70.01
ANHUI JIANGNAN INDUSTRI 4.76 07/08/23 CNY 59.19
ANHUI JIANGNAN INDUSTRI 4.76 07/08/23 CNY 58.88
ANHUI PINGTIANHU INVEST 7.40 10/23/20 CNY 20.02
ANHUI PINGTIANHU INVEST 7.40 10/23/20 CNY 19.60
ANHUI PROVINCE TONGLING 7.30 05/13/21 CNY 27.18
ANHUI PROVINCE TONGLING 7.30 05/13/21 CNY 20.60
ANJI COUNTY STATE-OWNED 8.30 04/24/21 CNY 24.57
ANJI COUNTY STATE-OWNED 8.30 04/24/21 CNY 20.28
ANJI NORTHWEST DEVELOPM 5.90 07/18/23 CNY 60.00
ANJI NORTHWEST DEVELOPM 5.90 07/18/23 CNY 59.91
ANLU CONSTRUCTION DEVEL 5.45 06/15/23 CNY 60.51
ANLU CONSTRUCTION DEVEL 5.45 06/15/23 CNY 60.51
ANQING ECONOMIC&TECHNOL 4.09 03/09/23 CNY 60.10
ANQING ECONOMIC&TECHNOL 4.09 03/09/23 CNY 58.66
ANQING URBAN CONSTRUCTI 6.01 04/27/22 CNY 40.92
ANQING URBAN CONSTRUCTI 6.01 04/27/22 CNY 40.00
ANSHUN STATE-RUN ASSETS 4.48 07/18/23 CNY 58.40
ANSHUN STATE-RUN ASSETS 4.48 07/18/23 CNY 56.88
BAOJI HI-TECH INDUSTRIA 8.25 04/21/21 CNY 20.25
BAOJI HI-TECH INDUSTRIA 8.25 04/21/21 CNY 20.00
BAOTOU CITY SCIENCE EDU 6.48 03/25/22 CNY 45.50
BAOTOU CITY SCIENCE EDU 6.48 03/25/22 CNY 41.11
BAOYING CITY CONSTRUCTI 4.50 03/24/23 CNY 60.51
BAOYING CITY CONSTRUCTI 4.50 03/24/23 CNY 60.05
BAYAN ZHUOER HETAO WATE 8.54 03/31/22 CNY 30.94
BAZHONG STATE-OWNED ASS 5.13 12/02/22 CNY 60.00
BAZHONG STATE-OWNED ASS 5.13 12/02/22 CNY 59.14
BAZHONG STATE-OWNED ASS 8.50 04/25/21 CNY 20.44
BAZHONG STATE-OWNED ASS 8.50 04/25/21 CNY 20.35
BEIJING CAPITAL DEVELOP 6.50 02/27/21 CNY 20.22
BEIJING CAPITAL DEVELOP 7.19 01/15/21 CNY 20.17
BEIJING CAPITAL DEVELOP 7.19 01/15/21 CNY 20.00
BEIJING CHANGXIN CONSTR 6.74 04/22/21 CNY 20.37
BEIJING CHANGXIN CONSTR 6.74 04/22/21 CNY 20.34
BEIJING FUTURE SCIENCE 4.20 08/13/22 CNY 40.30
BEIJING FUTURE SCIENCE 4.20 08/13/22 CNY 40.27
BEIJING JINLIYUAN STATE 7.00 10/28/20 CNY 20.03
BEIJING JINLIYUAN STATE 7.00 10/28/20 CNY 20.00
BEIJING SHIJINGSHAN STA 6.08 08/18/21 CNY 23.87
BEIJING SHIJINGSHAN STA 6.08 08/18/21 CNY 20.40
BEIJING XINCHENG INFRAS 7.50 04/21/21 CNY 20.29
BEIJING XINCHENG INFRAS 7.50 04/21/21 CNY 20.20
BEIJING XINGZHAN INVEST 6.66 04/24/21 CNY 20.33
BEIJING XINGZHAN INVEST 6.66 04/24/21 CNY 20.32
BEIPIAO CITY CONSTRUCTI 6.70 03/25/23 CNY 61.58
BEIPIAO CITY CONSTRUCTI 6.70 03/25/23 CNY 55.11
BENGBU GAOXIN INVESTMEN 8.70 04/17/21 CNY 20.28
BENGBU GAOXIN INVESTMEN 8.70 04/17/21 CNY 20.00
BENXI URBAN CONSTRUCTIO 6.24 01/22/22 CNY 40.03
BENXI URBAN CONSTRUCTIO 6.24 01/22/22 CNY 40.00
BIJIE CONSTRUCTION INVE 6.50 01/28/22 CNY 45.65
BIJIE CONSTRUCTION INVE 6.50 01/28/22 CNY 40.43
BIJIE KAIYUAN CONSTRUCT 7.78 02/25/21 CNY 30.00
BIJIE KAIYUAN CONSTRUCT 7.78 02/25/21 CNY 20.11
BINZHOU HI-TECH DEVELOP 8.60 01/10/21 CNY 23.40
BINZHOU HI-TECH DEVELOP 8.60 01/10/21 CNY 20.13
BINZHOU ZHONGHAI VENTUR 6.65 04/13/22 CNY 40.29
BINZHOU ZHONGHAI VENTUR 6.65 04/13/22 CNY 40.00
BOHAI LEASING CO LTD 7.00 06/20/21 CNY 68.53
BORALA MONGOL AUTONOMOU 5.77 08/26/22 CNY 40.61
BORALA MONGOL AUTONOMOU 5.77 08/26/22 CNY 39.00
BOZHOU URBAN CONSTRUCTI 4.78 04/14/23 CNY 60.57
BOZHOU URBAN CONSTRUCTI 4.78 04/14/23 CNY 59.79
CANGNAN COUNTY STATE OW 5.58 11/11/22 CNY 68.00
CANGNAN COUNTY STATE OW 5.58 11/11/22 CNY 60.71
CEFC SHANGHAI INTERNATI 4.98 12/10/20 CNY 61.29
CEFC SHANGHAI INTERNATI 4.08 09/09/21 CNY 60.00
CHANG DE DING LI INDUST 4.30 03/10/23 CNY 60.11
CHANG DE DING LI INDUST 4.30 03/10/23 CNY 60.06
CHANGCHUN MODERN AGRICU 7.00 07/25/21 CNY 20.13
CHANGCHUN MODERN AGRICU 7.00 07/25/21 CNY 19.50
CHANGDE DE YUAN SHANTY 5.33 09/13/23 CNY 67.47
CHANGDE ECONOMIC CONSTR 7.00 03/24/21 CNY 20.29
CHANGDE ECONOMIC CONSTR 7.00 03/24/21 CNY 20.25
CHANGDE URBAN CONSTRUCT 3.59 01/12/23 CNY 60.00
CHANGDE URBAN CONSTRUCT 3.59 01/12/23 CNY 59.86
CHANGLE COUNTY NEWTOWN 5.18 12/16/22 CNY 62.03
CHANGLE COUNTY NEWTOWN 5.18 12/16/22 CNY 59.60
CHANGSHA COUNTY XINGCHE 7.90 03/25/22 CNY 41.61
CHANGSHA COUNTY XINGCHE 7.90 03/25/22 CNY 41.61
CHANGSHA ECONOMIC & TEC 8.45 04/13/22 CNY 30.70
CHANGSHA FURONG CITY DE 3.88 01/26/23 CNY 60.67
CHANGSHA FURONG CITY DE 3.88 01/26/23 CNY 60.14
CHANGSHA METRO GROUP CO 5.40 07/14/25 CNY 82.67
CHANGSHA METRO GROUP CO 5.97 04/03/25 CNY 73.39
CHANGSHA METRO GROUP CO 5.97 04/03/25 CNY 73.26
CHANGSHA METRO GROUP CO 5.40 07/14/25 CNY 70.00
CHANGSHA METRO GROUP CO 6.20 04/23/23 CNY 48.35
CHANGSHA METRO GROUP CO 6.20 04/23/23 CNY 46.21
CHANGSHA TIANXIN CITY C 4.20 11/06/22 CNY 60.10
CHANGSHA TIANXIN CITY C 4.20 11/06/22 CNY 59.96
CHANGSHA TIANXIN CITY C 3.43 08/08/23 CNY 59.83
CHANGSHA TIANXIN CITY C 3.43 08/08/23 CNY 59.09
CHANGSHA YUHUA JINGKAI 4.17 09/06/23 CNY 59.08
CHANGSHA YUHUA JINGKAI 4.17 09/06/23 CNY 58.90
CHANGSHA YUHUA URBAN CO 3.80 01/28/23 CNY 59.84
CHANGSHA YUHUA URBAN CO 7.17 04/18/21 CNY 24.00
CHANGSHA YUHUA URBAN CO 7.17 04/18/21 CNY 20.41
CHANGSHU BINJIANG URBAN 6.39 09/11/21 CNY 20.41
CHANGSHU BINJIANG URBAN 6.39 09/11/21 CNY 20.00
CHANGSHU DONGNAN ASSET 6.53 03/26/22 CNY 47.32
CHANGSHU DONGNAN ASSET 6.53 03/26/22 CNY 41.11
CHANGSHU TRANSPORTATION 7.00 04/29/21 CNY 27.00
CHANGSHU TRANSPORTATION 7.00 04/29/21 CNY 20.26
CHANGXING COMMUNICATION 7.88 04/30/21 CNY 30.30
CHANGXING COMMUNICATION 7.88 04/30/21 CNY 20.30
CHANGXING COMMUNICATION 6.75 06/16/21 CNY 20.20
CHANGXING COMMUNICATION 6.75 06/16/21 CNY 20.03
CHANGXING URBAN CONSTRU 6.00 12/03/21 CNY 40.26
CHANGXING URBAN CONSTRU 6.00 12/03/21 CNY 39.00
CHANGZHOU BINHU CONSTRU 8.04 12/12/20 CNY 20.30
CHANGZHOU BINHU CONSTRU 8.04 12/12/20 CNY 20.14
CHANGZHOU PUBLIC HOUSIN 6.64 07/02/21 CNY 20.11
CHANGZHOU PUBLIC HOUSIN 6.64 07/02/21 CNY 20.11
CHANGZHOU TIANNING CONS 6.48 02/12/22 CNY 40.81
CHANGZHOU TIANNING CONS 6.48 02/12/22 CNY 40.00
CHAOHU URBAN TOWN CONST 6.50 04/30/22 CNY 42.10
CHAOHU URBAN TOWN CONST 6.50 04/30/22 CNY 40.87
CHENGDU ECONOMIC & TECH 6.90 05/30/21 CNY 26.00
CHENGDU ECONOMIC & TECH 6.90 05/30/21 CNY 20.31
CHENGDU GARDEN WATER CI 6.15 05/03/23 CNY 60.22
CHENGDU GARDEN WATER CI 6.15 05/03/23 CNY 60.09
CHENGDU LONGBO INVESTME 8.10 04/24/21 CNY 20.30
CHENGDU LONGBO INVESTME 8.10 04/24/21 CNY 20.26
CHENGDU PIDU DISTRICT S 6.95 04/01/22 CNY 48.83
CHENGDU PIDU DISTRICT S 6.95 04/01/22 CNY 40.99
CHENGDU PIDU DISTRICT S 7.25 10/15/20 CNY 20.01
CHENGDU PIDU DISTRICT S 7.25 10/15/20 CNY 20.00
CHENGDU SHUZHOU CITY CO 6.58 05/26/22 CNY 40.97
CHENGDU SHUZHOU CITY CO 6.58 05/26/22 CNY 40.50
CHENGDU XINGCHENGJIAN I 6.00 03/20/22 CNY 40.80
CHENGDU XINGCHENGJIAN I 6.00 03/20/22 CNY 40.00
CHENGDU XINKAIYUAN URBA 5.29 04/27/23 CNY 59.85
CHENGDU XINKAIYUAN URBA 5.29 04/27/23 CNY 59.48
CHENGDU XINKAIYUAN URBA 7.43 08/12/21 CNY 21.00
CHENGDU XINKAIYUAN URBA 7.43 08/12/21 CNY 20.35
CHENGFA INVESTMENT GROU 6.87 04/30/21 CNY 21.37
CHENGFA INVESTMENT GROU 6.87 04/30/21 CNY 20.26
CHENZHOU BAIFU INVESTME 4.96 03/22/26 CNY 74.16
CHENZHOU BAIFU INVESTME 4.96 03/22/26 CNY 73.33
CHENZHOU BAIFU INVESTME 6.54 08/28/21 CNY 20.15
CHENZHOU BAIFU INVESTME 6.54 08/28/21 CNY 20.00
CHENZHOU FUCHENG HIGH T 4.73 01/22/23 CNY 60.22
CHENZHOU FUCHENG HIGH T 4.73 01/22/23 CNY 59.85
CHENZHOU INDUSTRY INVES 6.45 01/23/22 CNY 48.60
CHENZHOU INDUSTRY INVES 6.45 01/23/22 CNY 40.32
CHENZHOU XINTIAN INVEST 5.38 03/08/26 CNY 74.36
CHIBI LANTIAN URBAN CON 4.38 08/10/23 CNY 59.44
CHIBI LANTIAN URBAN CON 4.38 08/10/23 CNY 59.27
CHINA MINSHENG INVESTME 7.00 12/26/20 CNY 36.65
CHINA OCEANWIDE HOLDING 8.90 12/13/21 CNY 50.26
CHINA SECURITY CO LTD 4.45 11/11/19 CNY 31.00
CHINA YIXING ENVIRONMEN 4.08 09/14/23 CNY 59.77
CHINA YIXING ENVIRONMEN 4.08 09/14/23 CNY 59.76
CHINA YIXING ENVIRONMEN 7.10 10/18/20 CNY 20.40
CHINA YIXING ENVIRONMEN 7.10 10/18/20 CNY 20.01
CHONGQIN BAIYAN INVESTM 5.75 05/03/23 CNY 61.35
CHONGQIN BAIYAN INVESTM 5.75 05/03/23 CNY 60.17
CHONGQIN XINLIANG INVES 4.76 08/26/23 CNY 56.39
CHONGQIN XINLIANG INVES 4.76 08/26/23 CNY 56.33
CHONGQING BANAN ECONOMI 6.17 03/13/22 CNY 40.47
CHONGQING BANAN ECONOMI 7.00 08/20/21 CNY 21.10
CHONGQING BANAN ECONOMI 7.00 08/20/21 CNY 20.46
CHONGQING BAYUAN CONSTR 4.99 08/16/23 CNY 58.14
CHONGQING BEICHENG CONS 7.30 10/16/20 CNY 20.30
CHONGQING BEICHENG CONS 7.30 10/16/20 CNY 20.00
CHONGQING BISHAN DISTRI 4.93 03/29/23 CNY 61.87
CHONGQING BISHAN DISTRI 4.93 03/29/23 CNY 60.96
CHONGQING CHANGSHOU ECO 7.20 07/15/21 CNY 20.22
CHONGQING CHANGSHOU ECO 7.20 07/15/21 CNY 20.00
CHONGQING CHANGSHOU ECO 7.10 06/19/21 CNY 20.18
CHONGQING CHANGSHOU ECO 7.10 06/19/21 CNY 20.00
CHONGQING DAZU INDUSTRI 6.30 04/28/22 CNY 40.43
CHONGQING DAZU INDUSTRI 6.30 04/28/22 CNY 40.00
CHONGQING ECO&TECH DEVE 3.95 04/13/23 CNY 60.15
CHONGQING FULING DISTRI 7.89 03/20/21 CNY 27.33
CHONGQING FULING DISTRI 7.89 03/20/21 CNY 20.22
CHONGQING FULING TRAFFI 6.68 02/03/22 CNY 40.64
CHONGQING FULING TRAFFI 6.68 02/03/22 CNY 40.00
CHONGQING GAOXIN ZONE D 7.80 04/25/21 CNY 30.80
CHONGQING GAOXIN ZONE D 7.80 04/25/21 CNY 20.42
CHONGQING GARDENING IND 8.45 06/03/21 CNY 20.45
CHONGQING GARDENING IND 8.45 06/03/21 CNY 20.00
CHONGQING HAOJIANG CONS 8.05 03/06/21 CNY 20.20
CHONGQING HAOJIANG CONS 7.99 11/22/20 CNY 20.04
CHONGQING HAOJIANG CONS 8.05 03/06/21 CNY 20.00
CHONGQING HAOJIANG CONS 7.99 11/22/20 CNY 20.00
CHONGQING HECHUAN CITY 3.95 09/06/23 CNY 61.22
CHONGQING HECHUAN CITY 3.95 09/06/23 CNY 59.88
CHONGQING HECHUAN CITY 7.30 07/07/21 CNY 21.00
CHONGQING HECHUAN CITY 7.30 07/07/21 CNY 20.53
CHONGQING INTERNATIONAL 7.08 10/18/20 CNY 20.29
CHONGQING INTERNATIONAL 7.08 10/18/20 CNY 20.01
CHONGQING JIANGBEIZUI C 6.50 07/21/21 CNY 20.40
CHONGQING JIANGBEIZUI C 6.50 07/21/21 CNY 20.30
CHONGQING JINYUN ASSET 4.50 12/31/22 CNY 60.08
CHONGQING JINYUN ASSET 4.50 12/31/22 CNY 60.04
CHONGQING JIULONG HI-TE 6.60 08/19/21 CNY 20.46
CHONGQING JIULONG HI-TE 6.60 08/19/21 CNY 20.25
CHONGQING KAIQIAN INVES 4.64 03/21/23 CNY 58.90
CHONGQING KAIQIAN INVES 4.64 03/21/23 CNY 58.82
CHONGQING LAND PROPERTI 3.36 03/21/23 CNY 60.10
CHONGQING LAND PROPERTI 3.36 03/21/23 CNY 59.72
CHONGQING LIANGJIANG NE 3.60 04/19/21 CNY 40.60
CHONGQING LIANGJIANG NE 3.60 04/19/21 CNY 39.95
CHONGQING LIANGJIANG NE 3.10 08/05/21 CNY 39.93
CHONGQING LIANGJIANG NE 3.17 01/13/21 CNY 39.92
CHONGQING LIANGJIANG NE 3.17 01/13/21 CNY 39.90
CHONGQING LIANGJIANG NE 6.70 04/25/21 CNY 22.72
CHONGQING LIANGJIANG NE 5.88 09/16/21 CNY 20.38
CHONGQING LIANGJIANG NE 5.88 09/16/21 CNY 20.31
CHONGQING LIANGJIANG NE 6.70 04/25/21 CNY 20.31
CHONGQING MAIRUI URBAN 4.95 04/21/23 CNY 62.61
CHONGQING MAIRUI URBAN 4.95 04/21/23 CNY 61.67
CHONGQING NANCHUAN CITY 4.20 07/11/23 CNY 59.54
CHONGQING NANCHUAN CITY 4.20 07/11/23 CNY 58.31
CHONGQING QIANJIANG CIT 8.00 03/21/21 CNY 21.70
CHONGQING QIANJIANG CIT 8.00 03/21/21 CNY 20.18
CHONGQING QIJIANG EAST 4.00 09/05/23 CNY 58.13
CHONGQING QIJIANG EAST 4.00 09/05/23 CNY 58.05
CHONGQING SHUANGFU CONS 7.49 10/23/20 CNY 20.01
CHONGQING SHUANGFU CONS 7.49 10/23/20 CNY 20.00
CHONGQING SHUANGQIAO EC 5.99 11/19/21 CNY 46.25
CHONGQING SHUANGQIAO EC 5.99 11/19/21 CNY 40.14
CHONGQING TAX FREE PORT 7.50 04/24/21 CNY 21.70
CHONGQING TAX FREE PORT 7.50 04/24/21 CNY 20.32
CHONGQING TEA GARDEN IN 7.70 05/20/21 CNY 20.28
CHONGQING TONGLIANG JIN 6.59 04/08/22 CNY 40.81
CHONGQING TONGLIANG JIN 6.59 04/08/22 CNY 40.00
CHONGQING TONGNAN DISTR 4.99 12/31/22 CNY 60.00
CHONGQING TONGNAN DISTR 4.99 12/31/22 CNY 59.36
CHONGQING WANSHENG ECO 6.95 08/25/21 CNY 25.00
CHONGQING WANSHENG ECO 8.19 04/08/21 CNY 23.90
CHONGQING WANSHENG ECO 8.19 04/08/21 CNY 20.20
CHONGQING WANSHENG ECO 6.95 08/25/21 CNY 20.16
CHONGQING WANSHENG ECO 5.40 11/18/21 CNY 69.87
CHONGQING WANZHOU SANXI 4.95 08/25/22 CNY 40.80
CHONGQING WANZHOU SANXI 4.95 08/25/22 CNY 40.55
CHONGQING XINGRONG HOLD 4.86 03/31/23 CNY 59.30
CHONGQING XINGRONG HOLD 4.86 03/31/23 CNY 58.50
CHONGQING XIYONG MICRO- 6.58 07/25/21 CNY 22.33
CHONGQING XIYONG MICRO- 6.58 07/25/21 CNY 20.48
CHONGQING YONGCHUAN HUI 7.28 05/30/21 CNY 21.60
CHONGQING YONGCHUAN HUI 7.28 05/30/21 CNY 20.37
CHONGQING YUELAI INVEST 6.09 04/29/22 CNY 41.01
CHONGQING YUELAI INVEST 6.09 04/29/22 CNY 40.00
CHONGQING YUNAN ASSET M 7.05 06/17/21 CNY 20.76
CHONGQING YUNAN ASSET M 7.05 06/17/21 CNY 20.47
CHONGQING YUZHONG STATE 7.25 02/26/21 CNY 20.28
CHONGQING YUZHONG STATE 7.25 02/26/21 CNY 20.20
CHUN'AN XINANJIANG DEVE 6.10 03/11/22 CNY 44.55
CHUN'AN XINANJIANG DEVE 6.10 03/11/22 CNY 40.64
CHUZHOU CITY CONSTRUCTI 6.17 11/30/21 CNY 61.00
CHUZHOU CITY CONSTRUCTI 6.40 08/22/21 CNY 20.48
CITIC GUOAN GROUP CORP 4.49 03/08/21 CNY 18.25
CITIC GUOAN GROUP CORP 4.23 12/15/20 CNY 18.25
CITIC GUOAN GROUP CORP 5.80 12/15/19 CNY 18.25
CITIC GUOAN GROUP CORP 4.90 11/06/19 CNY 18.25
CIXI CITY CONSTRUCTION 6.18 08/18/21 CNY 28.80
CIXI CITY CONSTRUCTION 6.18 08/18/21 CNY 20.39
DAFANG COUNTY CONSTRUCT 6.00 09/26/23 CNY 58.42
DAFANG COUNTY CONSTRUCT 6.00 09/26/23 CNY 57.80
DALI ECONOMIC DEVELOPME 8.30 12/11/20 CNY 20.60
DALI ECONOMIC DEVELOPME 7.90 03/04/21 CNY 20.15
DALI ECONOMIC DEVELOPME 8.30 12/11/20 CNY 20.13
DALI ECONOMIC DEVELOPME 7.90 03/04/21 CNY 20.00
DALI HAIDONG DEVELOPMEN 6.01 01/25/23 CNY 61.47
DALI HAIDONG DEVELOPMEN 6.01 01/25/23 CNY 59.82
DALIAN PULANDIAN CONSTR 3.80 01/25/23 CNY 59.07
DALIAN RONGDA INVESTMEN 5.69 12/05/21 CNY 40.47
DALIAN RONGQIANG INVEST 7.92 04/14/21 CNY 20.22
DALIAN RONGQIANG INVEST 7.92 04/14/21 CNY 20.22
DALIAN RONGQIANG INVEST 8.60 01/20/21 CNY 20.16
DALIAN RONGQIANG INVEST 8.60 01/20/21 CNY 20.15
DALIAN SHITAI CITY CONS 4.50 02/01/23 CNY 55.85
DALIAN SHITAI CITY CONS 4.50 02/01/23 CNY 54.87
DALIAN SHITAI CITY CONS 7.09 02/20/21 CNY 19.79
DANDONG PORT GROUP CO L 5.50 01/27/21 CNY 59.00
DANGTU COUNTY CONSTRUCT 5.38 08/10/22 CNY 40.75
DANGTU COUNTY CONSTRUCT 5.38 08/10/22 CNY 40.59
DANGYANG XINYUAN INVEST 4.97 03/29/23 CNY 60.54
DANGYANG XINYUAN INVEST 4.97 03/29/23 CNY 60.08
DANGYANG XINYUAN INVEST 7.99 05/23/21 CNY 20.00
DANYANG HI-TECH INDUSTR 6.40 04/24/22 CNY 40.18
DANYANG HI-TECH INDUSTR 6.40 04/24/22 CNY 40.00
DANYANG INVESTMENT GROU 3.99 01/25/23 CNY 59.51
DANYANG INVESTMENT GROU 6.90 10/23/20 CNY 20.16
DANYANG INVESTMENT GROU 6.90 10/23/20 CNY 20.02
DATONG ECONOMIC CONSTRU 4.49 10/22/22 CNY 60.41
DATONG ECONOMIC CONSTRU 4.49 10/22/22 CNY 60.30
DAWA COUNTY CITY CONSTR 6.29 06/12/22 CNY 39.30
DAWA COUNTY CITY CONSTR 6.29 06/12/22 CNY 39.14
DAYE ZHENHENG CITY DEVE 4.50 03/28/23 CNY 58.93
DAYE ZHENHENG CITY DEVE 4.50 03/28/23 CNY 58.92
DAYE ZHENHENG CITY DEVE 4.05 08/31/23 CNY 58.44
DAYE ZHENHENG CITY DEVE 4.05 08/31/23 CNY 58.17
DAYE ZHENHENG CITY DEVE 7.30 03/03/21 CNY 23.53
DAYE ZHENHENG CITY DEVE 7.30 03/03/21 CNY 20.20
DAYE ZHENHENG CITY DEVE 7.95 11/27/20 CNY 20.15
DAYE ZHENHENG CITY DEVE 7.95 11/27/20 CNY 20.08
DAZHOU DEVELOPMENT HOLD 5.10 11/27/22 CNY 60.52
DAZHOU DEVELOPMENT HOLD 5.10 11/27/22 CNY 60.00
DAZHOU DEVELOPMENT HOLD 6.55 01/14/22 CNY 40.76
DAZHOU DEVELOPMENT HOLD 6.55 01/14/22 CNY 40.00
DEHONGZHOU HONGKANG INV 6.68 01/23/22 CNY 40.19
DEHONGZHOU HONGKANG INV 6.68 01/23/22 CNY 40.19
DEXING INVESTMENT HOLDI 5.99 03/21/23 CNY 60.58
DEXING INVESTMENT HOLDI 5.99 03/21/23 CNY 60.42
DEYANG ECONOMIC DEVELOP 7.90 04/28/21 CNY 28.26
DEYANG ECONOMIC DEVELOP 7.90 04/28/21 CNY 20.22
DONGLING GROUP INC CO 8.00 07/14/22 CNY 40.99
DONGLING GROUP INC CO 8.00 07/14/22 CNY 40.00
DONGTAI UBAN CONSTRUCTI 7.58 04/23/21 CNY 28.48
DONGTAI UBAN CONSTRUCTI 7.58 04/23/21 CNY 20.38
DONGTAI UBAN CONSTRUCTI 8.65 01/13/21 CNY 20.19
DONGYING CITY URBAN ASS 5.57 03/31/22 CNY 41.58
DONGYING CITY URBAN ASS 5.57 03/31/22 CNY 40.49
DONGZHI COUNTY CITY OPE 4.88 06/20/23 CNY 60.41
DONGZHI COUNTY CITY OPE 4.88 06/20/23 CNY 60.05
DUJIANGYAN XINGYAN INVE 6.10 03/12/22 CNY 40.00
DUJIANGYAN XINGYAN INVE 6.10 03/12/22 CNY 38.92
DUNYUN STATE-OWNED ASSE 6.60 12/28/22 CNY 59.16
EASTAR HOLDINGS GROUP C 7.30 10/31/20 CNY 63.00
ENSHI URBAN CONSTRUCTIO 7.50 06/03/21 CNY 27.54
ENSHI URBAN CONSTRUCTIO 7.50 06/03/21 CNY 20.42
EZHOU CITY CONSTRUCTION 7.76 05/15/21 CNY 26.50
EZHOU CITY CONSTRUCTION 6.68 09/19/21 CNY 21.00
EZHOU CITY CONSTRUCTION 6.68 09/19/21 CNY 20.57
EZHOU CITY CONSTRUCTION 7.76 05/15/21 CNY 20.52
FANGCHENGGANG GANGFA HO 8.09 04/16/21 CNY 20.50
FANGCHENGGANG GANGFA HO 8.09 04/16/21 CNY 20.32
FEICHENG CITY ASSETS MA 4.04 03/23/23 CNY 59.83
FEICHENG CITY ASSETS MA 4.04 03/23/23 CNY 59.26
FEIXI COUNTY URBAN & RU 4.45 06/03/23 CNY 61.24
FEIXI COUNTY URBAN & RU 4.45 06/03/23 CNY 59.89
FENG COUNTY ECONOMIC DE 5.18 06/21/23 CNY 59.29
FENG COUNTY ECONOMIC DE 5.18 06/21/23 CNY 58.83
FENGCHENG CITY CONSTRUC 6.49 02/10/22 CNY 44.49
FENGCHENG CITY CONSTRUC 6.49 02/10/22 CNY 40.66
FENGCHENG CITY MODERN I 5.76 12/17/22 CNY 60.00
FENGCHENG CITY MODERN I 5.76 12/17/22 CNY 59.85
FENGXIAN URBAN INVESTME 6.48 03/20/22 CNY 40.42
FENGXIAN URBAN INVESTME 6.48 03/20/22 CNY 40.00
FENGXIAN URBAN INVESTME 4.23 07/13/21 CNY 19.79
FENGXIAN URBAN INVESTME 4.23 07/13/21 CNY 19.75
FENYI CITY CONSTRUCTION 4.54 08/22/23 CNY 78.52
FENYI CITY CONSTRUCTION 4.54 08/22/23 CNY 58.59
FUGU COUNTY STATE-OWNED 8.69 12/16/20 CNY 20.11
FUGU COUNTY STATE-OWNED 8.69 12/16/20 CNY 20.01
FUGUINIAO CO LTD 6.30 04/22/20 CNY 13.00
FUJIAN JINJIANG INDUSTR 7.08 06/27/21 CNY 20.65
FUJIAN JINJIANG INDUSTR 7.08 06/27/21 CNY 20.39
FUJIAN JINJIANG URBAN C 3.35 08/24/23 CNY 59.60
FUJIAN PROVINCE LIANJIA 6.29 04/30/22 CNY 40.93
FUJIAN PROVINCE LIANJIA 6.29 04/30/22 CNY 40.00
FUJIAN ZHANGLONG GROUP 4.99 08/07/22 CNY 40.53
FUJIAN ZHANGLONG GROUP 4.99 08/07/22 CNY 40.00
FUNING URBAN INVESTMENT 7.19 08/15/21 CNY 21.15
FUNING URBAN INVESTMENT 7.19 08/15/21 CNY 20.43
FUQING CITY STATE-OWNED 5.94 11/26/22 CNY 56.19
FUQING CITY STATE-OWNED 6.66 03/01/21 CNY 25.09
FUXIN INFRASTRUCTURE CO 6.18 03/18/22 CNY 40.39
FUXIN INFRASTRUCTURE CO 6.18 03/18/22 CNY 40.04
FUZHOU CHANGLE DISTRICT 4.50 04/11/23 CNY 59.38
FUZHOU CHANGLE DISTRICT 4.50 04/11/23 CNY 58.79
FUZHOU DEVELOPMENT ZONE 3.53 08/25/23 CNY 59.61
FUZHOU LINCHUAN URBAN C 5.68 07/05/23 CNY 60.91
FUZHOU LINCHUAN URBAN C 5.68 07/05/23 CNY 60.74
FUZHOU URBAN AND RURAL 4.89 07/08/22 CNY 40.68
FUZHOU URBAN AND RURAL 5.48 01/26/22 CNY 40.60
FUZHOU URBAN AND RURAL 4.89 07/08/22 CNY 40.55
FUZHOU URBAN AND RURAL 5.48 01/26/22 CNY 40.00
GANSU PROVINCIAL HIGHWA 6.58 09/24/22 CNY 72.89
GANZHOU CITY DEVELOPMEN 5.50 06/16/22 CNY 40.93
GANZHOU CITY DEVELOPMEN 5.50 06/16/22 CNY 40.00
GANZHOU DEVELOPMENT ZON 7.43 02/19/21 CNY 20.21
GANZHOU DEVELOPMENT ZON 7.43 02/19/21 CNY 19.00
GAOMI STATE-OWNED ASSET 4.69 01/26/23 CNY 60.49
GAOMI STATE-OWNED ASSET 4.69 01/26/23 CNY 59.88
GAOYOU CITY CONSTRUCTIO 5.48 09/15/22 CNY 40.75
GAOYOU CITY CONSTRUCTIO 5.48 09/15/22 CNY 40.00
GAOYOU CITY ECONOMY DEV 3.65 09/02/23 CNY 60.00
GAOYOU CITY ECONOMY DEV 3.65 09/02/23 CNY 59.79
GOLMUD INVESTMENT HOLDI 8.70 12/30/20 CNY 20.13
GOLMUD INVESTMENT HOLDI 8.70 12/30/20 CNY 20.00
GONG'AN COUNTY CITY CON 4.30 08/30/23 CNY 59.31
GONG'AN COUNTY CITY CON 4.30 08/30/23 CNY 59.04
GONGQINGCHENG FINANCIAL 5.85 03/25/23 CNY 60.77
GONGQINGCHENG FINANCIAL 5.85 03/25/23 CNY 59.70
GOOCOO INVESTMENT CO LT 8.00 02/01/21 CNY 50.00
GUANGAN DEVELOPMENT AND 6.39 03/24/22 CNY 44.00
GUANGAN DEVELOPMENT AND 6.39 03/24/22 CNY 40.84
GUANGAN ECONOMIC & TECH 5.16 04/14/23 CNY 59.55
GUANGAN ECONOMIC & TECH 5.16 04/14/23 CNY 59.31
GUANGAN ECONOMIC & TECH 7.10 09/22/21 CNY 20.23
GUANGAN ECONOMIC & TECH 7.10 09/22/21 CNY 20.22
GUANGDONG HUIZHOU COMMU 4.16 05/17/23 CNY 60.31
GUANGDONG HUIZHOU COMMU 4.16 05/17/23 CNY 59.98
GUANGRAO COUNTY ECONOMI 3.61 09/08/23 CNY 60.00
GUANGRAO COUNTY ECONOMI 3.61 09/08/23 CNY 59.19
GUANGXI BAISE DEVELOPME 7.27 06/20/21 CNY 20.17
GUANGXI BAISE DEVELOPME 7.27 06/20/21 CNY 20.00
GUANGXI LAIBIN INDUSTRI 5.97 11/26/21 CNY 40.14
GUANGXI LAIBIN INDUSTRI 5.97 11/26/21 CNY 40.00
GUANGXI LIUZHOU DONGCHE 7.40 10/29/20 CNY 21.00
GUANGXI LIUZHOU DONGCHE 7.40 10/29/20 CNY 20.03
GUANGXI QINZHOU LINHAI 7.68 02/20/21 CNY 24.77
GUANGXI QINZHOU LINHAI 7.68 02/20/21 CNY 20.16
GUANGXI URBAN CONSTRUCT 7.59 04/14/21 CNY 23.00
GUANGXI URBAN CONSTRUCT 7.59 04/14/21 CNY 20.29
GUANGYUAN INVESTMENT HO 7.30 04/22/21 CNY 21.15
GUANGYUAN INVESTMENT HO 7.30 04/22/21 CNY 20.29
GUANGYUAN YUANQU CONSTR 4.48 03/10/23 CNY 58.67
GUANGYUAN YUANQU CONSTR 4.48 03/10/23 CNY 58.63
GUANGYUAN YUANQU CONSTR 8.35 08/26/21 CNY 27.00
GUANGYUAN YUANQU CONSTR 8.35 08/26/21 CNY 20.68
GUANGZHOU HUANTOU NANSH 6.38 11/18/24 CNY 73.82
GUANGZHOU HUANTOU NANSH 6.38 11/18/24 CNY 73.28
GUANGZHOU METRO GROUP C 6.45 04/02/24 CNY 62.53
GUANGZHOU METRO GROUP C 6.05 06/03/24 CNY 62.11
GUANGZHOU METRO GROUP C 6.45 04/02/24 CNY 60.00
GUILIN CITY INVESTMENT 6.90 06/13/21 CNY 20.27
GUILIN CITY INVESTMENT 6.90 06/13/21 CNY 20.00
GUILIN ECONOMIC CONSTRU 5.60 04/22/22 CNY 40.63
GUILIN ECONOMIC CONSTRU 5.60 04/22/22 CNY 40.00
GUIRENNIAO CO LTD 7.00 12/03/19 CNY 49.50
GUIXI CITY CONSTRUCTION 4.18 08/18/23 CNY 58.25
GUIXI CITY CONSTRUCTION 4.18 08/18/23 CNY 58.22
GUIYANG BAIYUN CITY CON 4.75 09/13/26 CNY 74.95
GUIYANG BAIYUN CITY CON 4.75 09/13/26 CNY 73.60
GUIYANG BAIYUN INDUSTRY 7.30 03/27/22 CNY 45.00
GUIYANG BAIYUN INDUSTRY 7.30 03/27/22 CNY 40.31
GUIYANG GUANSHANHU DIST 4.87 01/28/23 CNY 59.82
GUIYANG GUANSHANHU DIST 4.87 01/28/23 CNY 59.21
GUIYANG GUANSHANHU DIST 4.48 03/09/23 CNY 59.07
GUIYANG GUANSHANHU DIST 4.48 03/09/23 CNY 58.81
GUIYANG URBAN CONSTRUCT 5.23 12/02/22 CNY 60.25
GUIYANG URBAN CONSTRUCT 5.23 12/02/22 CNY 60.00
GUIZHOU EAST LAKE CITY 5.18 01/06/23 CNY 60.62
GUIZHOU EAST LAKE CITY 5.18 01/06/23 CNY 58.34
GUIZHOU FANJINGSHAN INV 6.95 01/28/22 CNY 40.48
GUIZHOU FANJINGSHAN INV 6.95 01/28/22 CNY 40.00
GUIZHOU GUIAN CONSTRUCT 4.17 10/28/22 CNY 61.00
GUIZHOU GUIAN CONSTRUCT 4.17 10/28/22 CNY 60.22
GUIZHOU GUILONG INDUSTR 7.80 04/28/22 CNY 50.97
GUIZHOU GUILONG INDUSTR 7.80 04/28/22 CNY 50.03
GUIZHOU HONGCAI INVESTM 6.00 06/07/23 CNY 49.02
GUIZHOU HONGCAI INVESTM 6.00 06/07/23 CNY 48.66
GUIZHOU RAILWAY INVESTM 7.50 04/23/24 CNY 63.06
GUIZHOU RAILWAY INVESTM 7.50 04/23/24 CNY 63.05
GUIZHOU RAILWAY INVESTM 7.20 03/27/22 CNY 41.16
GUIZHOU RAILWAY INVESTM 7.20 03/27/22 CNY 41.05
GUIZHOU SHUICHENG CITY 4.98 11/22/23 CNY 74.16
GUIZHOU SHUICHENG CITY 4.98 11/22/23 CNY 73.94
GULIN STATE-OWNED ASSET 4.18 08/04/23 CNY 59.96
GULIN STATE-OWNED ASSET 4.18 08/04/23 CNY 58.69
HAIAN COUNTY DEVELOPMEN 5.45 04/13/23 CNY 59.81
HAIAN COUNTY DEVELOPMEN 5.45 04/13/23 CNY 59.38
HAIAN URBAN DEMOLITION 5.08 11/27/22 CNY 60.90
HAIAN URBAN DEMOLITION 5.08 11/27/22 CNY 60.88
HAICHENG URBAN JINCAI L 5.37 08/10/23 CNY 59.52
HAICHENG URBAN JINCAI L 5.37 08/10/23 CNY 59.05
HAICHENG URBAN JINCAI L 8.17 04/16/21 CNY 20.21
HAICHENG URBAN JINCAI L 8.56 12/19/20 CNY 20.09
HAIFENG MARINE INFRASTR 6.84 04/29/22 CNY 40.45
HAIKOU MEILAN INTERNATI 5.25 09/06/19 USD 52.87
HAIMEN CITY DEVELOPMENT 6.22 04/03/22 CNY 42.20
HAIMEN CITY DEVELOPMENT 6.22 04/03/22 CNY 40.95
HAINING CITY DEVELOPMEN 5.58 10/22/21 CNY 40.49
HAINING CITY JIANSHAN D 6.90 11/04/20 CNY 21.42
HAINING CITY JIANSHAN D 6.90 11/04/20 CNY 20.04
HAIXI STATE-OWNED CAPIT 8.60 01/02/21 CNY 20.30
HAIXI STATE-OWNED CAPIT 8.60 01/02/21 CNY 20.10
HAMI JIANHUI STATE-OWNE 3.90 09/21/23 CNY 59.10
HAMI JIANHUI STATE-OWNE 3.90 09/21/23 CNY 57.84
HANCHUAN CITY HANRONG I 4.25 07/18/23 CNY 59.33
HANCHUAN CITY HANRONG I 4.25 07/18/23 CNY 59.11
HANDAN CONSTRUCTION & I 5.48 05/27/22 CNY 47.20
HANDAN CONSTRUCTION & I 5.48 05/27/22 CNY 40.39
HANGZHOU CITY CONSTRUCT 3.80 03/14/23 CNY 60.01
HANGZHOU CITY CONSTRUCT 3.80 03/14/23 CNY 60.00
HANGZHOU FUYANG CITY CO 7.20 03/19/21 CNY 20.30
HANGZHOU FUYANG CITY CO 7.20 03/19/21 CNY 20.28
HANGZHOU FUYANG DEVELOP 4.76 01/27/23 CNY 59.62
HANGZHOU FUYANG DEVELOP 4.76 01/27/23 CNY 59.12
HANGZHOU FUYANG DEVELOP 7.70 04/28/21 CNY 29.00
HANGZHOU FUYANG DEVELOP 7.70 04/28/21 CNY 20.33
HANGZHOU GONGSHU DISTRI 6.90 07/21/21 CNY 20.46
HANGZHOU GONGSHU DISTRI 6.90 07/21/21 CNY 20.40
HANGZHOU METRO GROUP CO 5.97 09/17/24 CNY 72.77
HANGZHOU METRO GROUP CO 5.97 09/17/24 CNY 62.98
HANGZHOU WEST LAKE INVE 4.30 04/25/23 CNY 60.28
HANGZHOU WEST LAKE INVE 4.30 04/25/23 CNY 59.96
HANGZHOU XIAOSHAN ECO&T 6.90 05/13/21 CNY 20.29
HANGZHOU XIAOSHAN QIANJ 4.00 03/22/23 CNY 60.27
HANGZHOU XIAOSHAN QIANJ 4.00 03/22/23 CNY 60.07
HANGZHOU YUHANG CITY CO 7.00 03/03/21 CNY 20.20
HANGZHOU YUHANG ECONOMI 7.45 03/03/21 CNY 20.75
HANGZHOU YUHANG ECONOMI 7.45 03/03/21 CNY 20.34
HANGZHOU YUHANG TRANSPO 7.19 04/18/21 CNY 21.85
HANGZHOU YUHANG TRANSPO 7.19 04/18/21 CNY 20.29
HANJIANG STATE-OWNED-AS 7.30 11/11/20 CNY 26.60
HANJIANG STATE-OWNED-AS 7.30 11/11/20 CNY 20.05
HAWTAI MOTOR GROUP LTD 6.10 10/26/21 CNY 74.00
HAWTAI MOTOR GROUP LTD 7.20 04/14/21 CNY 60.00
HEBEI ZHONGYUE CITY CON 4.10 11/16/21 CNY 60.04
HEBEI ZHONGYUE CITY CON 4.10 11/16/21 CNY 59.75
HEBI INVESTMENTS GROUP 7.88 08/01/21 CNY 20.99
HEBI INVESTMENTS GROUP 7.88 08/01/21 CNY 20.62
HECHI CITY CONSTRUCTION 5.58 11/13/22 CNY 62.42
HECHI CITY CONSTRUCTION 5.58 11/13/22 CNY 60.18
HEFEI CONSTRUCTION INVE 7.20 04/29/24 CNY 63.79
HEFEI XINCHENG STATE-OW 4.13 07/15/23 CNY 59.82
HEFEI XINCHENG STATE-OW 4.13 07/15/23 CNY 59.30
HEILONGJIANG HECHENG CO 5.60 11/11/21 CNY 40.01
HEILONGJIANG HECHENG CO 7.05 06/21/22 CNY 30.40
HEILONGJIANG POST-DISAS 7.10 11/19/20 CNY 25.07
HEILONGJIANG POST-DISAS 7.10 11/19/20 CNY 18.55
HEILONGJIANG POST-DISAS 7.06 11/20/20 CNY 6.81
HEILONGJIANG POST-DISAS 7.06 11/20/20 CNY 6.78
HEISHAN TONGHE ASSET MA 6.79 09/18/22 CNY 39.64
HEISHAN TONGHE ASSET MA 6.79 09/18/22 CNY 39.28
HENGYANG BAISHAZHOU DEV 6.87 08/22/21 CNY 24.50
HENGYANG BAISHAZHOU DEV 6.87 08/22/21 CNY 20.05
HENGYANG COMMUNICATION 4.28 01/21/23 CNY 60.02
HENGYANG COMMUNICATION 4.28 01/21/23 CNY 60.00
HENGYANG XIANGJIANG WAT 7.40 04/23/21 CNY 21.10
HENGYANG XIANGJIANG WAT 7.40 04/23/21 CNY 20.21
HESHAN PUBLIC ASSET MAN 4.08 09/28/23 CNY 58.81
HESHAN PUBLIC ASSET MAN 4.08 09/28/23 CNY 58.06
HETIAN YUXIN STATE-OWNE 4.65 03/28/23 CNY 59.85
HETIAN YUXIN STATE-OWNE 4.65 03/28/23 CNY 59.40
HEYUAN CITY RUNYE INVES 6.20 12/03/21 CNY 45.88
HEYUAN CITY RUNYE INVES 6.20 12/03/21 CNY 40.61
HEZE INVESTMENT DEVELOP 7.14 03/24/21 CNY 20.95
HEZE INVESTMENT DEVELOP 7.14 03/24/21 CNY 20.27
HEZHOU URBAN CONSTRUCTI 8.16 05/16/21 CNY 20.80
HEZHOU URBAN CONSTRUCTI 8.16 05/16/21 CNY 20.39
HNA GROUP CO LTD 7.10 04/15/20 CNY 70.00
HNA GROUP CO LTD 5.99 11/27/22 CNY 29.10
HUACHEN AUTOMOTIVE GROU 6.30 09/14/23 CNY 68.23
HUACHEN AUTOMOTIVE GROU 5.80 06/17/24 CNY 60.78
HUACHEN AUTOMOTIVE GROU 5.80 11/05/23 CNY 59.80
HUACHEN AUTOMOTIVE GROU 6.30 09/14/23 CNY 56.93
HUACHEN AUTOMOTIVE GROU 5.40 09/14/23 CNY 55.80
HUACHEN AUTOMOTIVE GROU 5.80 03/20/24 CNY 54.80
HUACHEN ENERGY CO LTD 6.63 05/18/20 USD 35.57
HUAIAN CITY HUAIAN DIST 4.63 05/03/23 CNY 64.10
HUAIAN CITY HUAIAN DIST 4.63 05/03/23 CNY 60.17
HUAIAN CITY URBAN ASSET 5.70 04/23/22 CNY 41.54
HUAIAN CITY URBAN ASSET 5.70 04/23/22 CNY 40.76
HUAIAN CITY XUYI URBAN 5.10 04/15/23 CNY 59.90
HUAIAN CITY XUYI URBAN 5.10 04/15/23 CNY 59.20
HUAI'AN DEVELOPMENT HOL 7.30 03/10/21 CNY 27.84
HUAI'AN DEVELOPMENT HOL 7.30 03/10/21 CNY 20.24
HUAIAN HONGRI TRANSPORT 5.09 04/20/23 CNY 59.27
HUAIAN HONGRI TRANSPORT 5.09 04/20/23 CNY 58.56
HUAIAN HONGZE DISTRICT 4.37 07/18/23 CNY 58.85
HUAIAN HONGZE DISTRICT 4.37 07/18/23 CNY 58.44
HUAI'AN NEW CITY INVEST 6.95 07/28/21 CNY 27.50
HUAI'AN NEW CITY INVEST 6.95 07/28/21 CNY 20.40
HUAI'AN NEW CITY INVEST 7.45 03/04/21 CNY 20.21
HUAI'AN NEW CITY INVEST 7.45 03/04/21 CNY 20.00
HUAIHUA CITY CONSTRUCTI 4.18 08/31/23 CNY 58.67
HUAIHUA CITY CONSTRUCTI 4.18 08/31/23 CNY 58.64
HUAIHUA CITY INDUSTRIAL 7.70 10/29/20 CNY 20.04
HUAIHUA ECONOMIC DEVELO 6.80 03/26/22 CNY 40.08
HUAIHUA ECONOMIC DEVELO 6.80 03/26/22 CNY 40.00
HUAIHUA TRANSPORTATION 4.96 04/12/23 CNY 59.99
HUAIHUA TRANSPORTATION 4.96 04/12/23 CNY 59.19
HUAINAN URBAN CONSTRUCT 6.79 07/09/21 CNY 21.65
HUAINAN URBAN CONSTRUCT 6.79 07/09/21 CNY 20.43
HUANGGANG CITY CONSTRUC 4.08 01/18/23 CNY 60.21
HUANGGANG CITY CONSTRUC 7.45 03/04/21 CNY 20.30
HUANGGANG CITY CONSTRUC 8.60 12/25/20 CNY 20.27
HUANGGANG CITY CONSTRUC 7.45 03/04/21 CNY 20.23
HUANGSHAN CHENGTOU GROU 5.95 05/06/22 CNY 40.82
HUANGSHAN CHENGTOU GROU 5.95 05/06/22 CNY 40.65
HUANGSHI CIHU HIGH-TECH 4.50 06/08/23 CNY 63.00
HUANGSHI CIHU HIGH-TECH 4.50 06/08/23 CNY 60.20
HUANGSHI CIHU HIGH-TECH 4.97 06/08/23 CNY 60.17
HUANGSHI CIHU HIGH-TECH 4.97 06/08/23 CNY 60.14
HUANGSHI CIHU HIGH-TECH 9.30 01/21/21 CNY 20.25
HUANGSHI CIHU HIGH-TECH 8.70 12/05/20 CNY 20.09
HUANGSHI URBAN CONSTRUC 5.99 04/29/22 CNY 40.87
HUANGSHI URBAN CONSTRUC 5.99 04/29/22 CNY 40.80
HUAWEN MEDIA GROUP 6.00 04/04/21 CNY 66.43
HUBEI PROVINCE CHANGJIA 6.15 04/03/22 CNY 42.40
HUBEI PROVINCE CHANGJIA 6.15 04/03/22 CNY 40.86
HUBEI SUPPLY AND MARKET 6.70 08/23/24 CNY 74.35
HULUDAO INVESTMENT GROU 7.50 10/18/23 CNY 61.60
HULUDAO INVESTMENT GROU 7.05 10/18/20 CNY 20.04
HULUDAO INVESTMENT GROU 7.05 10/18/20 CNY 20.01
HULUNBEIER INVESTMENT C 6.31 04/30/22 CNY 40.42
HULUNBEIER INVESTMENT C 6.31 04/30/22 CNY 40.00
HUNAN CHANGDE DEYUAN IN 6.50 06/16/21 CNY 22.25
HUNAN CHANGDE DEYUAN IN 6.50 06/16/21 CNY 20.33
HUNAN CHENGLINGJI HARBO 4.24 07/21/23 CNY 59.32
HUNAN CHENGLINGJI HARBO 4.24 07/21/23 CNY 58.24
HUNAN CHUZHISHENG HOLDI 5.60 12/18/22 CNY 60.93
HUNAN CHUZHISHENG HOLDI 5.60 12/18/22 CNY 60.34
HUNAN JINYANG INVESTMEN 4.37 01/19/23 CNY 60.03
HUNAN JINYANG INVESTMEN 4.37 01/19/23 CNY 59.65
HUNAN JINYANG INVESTMEN 4.39 04/06/23 CNY 59.59
HUNAN JINYANG INVESTMEN 4.39 04/06/23 CNY 58.72
HUNAN JINYANG INVESTMEN 5.70 11/27/21 CNY 39.42
HUNAN JINYANG INVESTMEN 5.70 11/27/21 CNY 38.60
HUNAN LOUDI ECONOMIC & 4.89 03/30/23 CNY 57.83
HUNAN LOUDI ECONOMIC & 4.89 03/30/23 CNY 56.93
HUNAN LOUDI ECONOMIC & 6.36 03/13/22 CNY 47.00
HUNAN LOUDI ECONOMIC & 6.36 03/13/22 CNY 38.70
HUNAN PROVINCIAL RAILWA 6.09 04/30/25 CNY 72.88
HUNAN PROVINCIAL RAILWA 6.09 04/30/25 CNY 70.00
HUNAN SHAODONG ECO-INDU 6.50 01/11/23 CNY 61.73
HUNAN SHAODONG ECO-INDU 6.50 01/11/23 CNY 59.31
HUNAN TIER GROUP CO LTD 4.20 03/17/23 CNY 58.47
HUNAN TIER GROUP CO LTD 4.20 03/17/23 CNY 58.45
HUNAN TIER GROUP CO LTD 8.00 12/23/20 CNY 22.72
HUNAN TIER GROUP CO LTD 7.10 03/03/21 CNY 20.30
HUNAN TIER GROUP CO LTD 7.10 03/03/21 CNY 20.23
HUNAN TIER GROUP CO LTD 8.00 12/23/20 CNY 20.16
HUNAN XIANGJIANG NEW AR 7.36 03/17/21 CNY 20.33
HUNAN XIANGJIANG NEW AR 7.36 03/17/21 CNY 20.00
HUNAN YOUZHOU INVESTMEN 4.80 07/07/23 CNY 59.92
HUNAN YOUZHOU INVESTMEN 4.80 07/07/23 CNY 59.91
HUZHOU URBAN CONSTRUCTI 6.48 08/28/21 CNY 22.38
HUZHOU URBAN CONSTRUCTI 6.48 08/28/21 CNY 20.20
HUZHOU WUXING NANTAIHU 8.79 01/16/21 CNY 20.29
HUZHOU WUXING NANTAIHU 8.79 01/16/21 CNY 20.10
HUZHOU XISAISHAN DEVELO 7.80 04/29/21 CNY 20.22
HUZHOU XISAISHAN DEVELO 7.80 04/29/21 CNY 20.00
INNER MONGOLIA JINLONG 7.30 11/19/22 CNY 60.27
INNER MONGOLIA JINLONG 7.30 11/19/22 CNY 59.50
INNER MONGOLIA KE'ERQIN 6.45 04/30/22 CNY 40.00
INNER MONGOLIA KE'ERQIN 6.50 03/11/22 CNY 40.00
INNER MONGOLIA KE'ERQIN 6.50 03/11/22 CNY 39.01
INNER MONGOLIA KE'ERQIN 6.45 04/30/22 CNY 38.85
INNER MONGOLIA SHENGXIA 8.18 08/21/21 CNY 24.00
INNER MONGOLIA SHENGXIA 8.18 08/21/21 CNY 20.14
INNER MONGOLIA ZHUNGEER 6.54 12/31/21 CNY 42.10
INNER MONGOLIA ZHUNGEER 6.54 12/31/21 CNY 40.85
JIAN CITY JINGANGSHAN D 4.87 01/27/23 CNY 59.78
JIAN CITY JINGANGSHAN D 4.87 01/27/23 CNY 58.60
JIAN CITY JINGANGSHAN D 7.99 06/03/21 CNY 20.87
JIAN CITY JINGANGSHAN D 7.99 06/03/21 CNY 20.33
JIANAN INVESTMENT HOLDI 4.30 03/08/23 CNY 60.28
JIANAN INVESTMENT HOLDI 4.30 03/08/23 CNY 60.24
JIANAN INVESTMENT HOLDI 3.85 09/05/23 CNY 60.00
JIANAN INVESTMENT HOLDI 3.85 09/05/23 CNY 59.70
JIANAN INVESTMENT HOLDI 3.50 09/05/23 CNY 59.41
JIANAN INVESTMENT HOLDI 6.85 05/23/21 CNY 26.50
JIANAN INVESTMENT HOLDI 6.85 05/23/21 CNY 20.45
JIANGDONG HOLDING GROUP 7.14 04/24/21 CNY 20.26
JIANGMEN NEW HI-TECH IN 6.03 04/22/22 CNY 41.10
JIANGMEN NEW HI-TECH IN 6.03 04/22/22 CNY 40.83
JIANGMEN NEW HI-TECH IN 7.39 11/04/20 CNY 20.04
JIANGSU BEIGU INDUSTRIA 5.80 06/20/23 CNY 60.94
JIANGSU BEIGU INDUSTRIA 5.80 06/20/23 CNY 59.77
JIANGSU DAHANG LINGANG 5.18 09/22/23 CNY 59.08
JIANGSU DAHANG LINGANG 5.18 09/22/23 CNY 58.61
JIANGSU GAOCHUN ECONOMI 3.67 09/23/23 CNY 59.37
JIANGSU GAOCHUN ECONOMI 3.67 09/23/23 CNY 59.25
JIANGSU HAIZHOU DEVELOP 4.67 06/06/23 CNY 61.51
JIANGSU HAIZHOU DEVELOP 4.67 06/06/23 CNY 60.45
JIANGSU HAIZHOUWAN DEVE 5.37 03/29/23 CNY 45.00
JIANGSU HANRUI INVESTME 4.63 04/15/23 CNY 60.51
JIANGSU HANRUI INVESTME 4.63 04/15/23 CNY 60.35
JIANGSU HANRUI INVESTME 5.00 08/31/23 CNY 58.27
JIANGSU HANRUI INVESTME 5.00 08/31/23 CNY 57.91
JIANGSU JINGUAN INVESTM 7.90 04/08/21 CNY 20.80
JIANGSU JINGUAN INVESTM 7.90 04/08/21 CNY 20.35
JIANGSU JINTAN GUOFA IN 4.60 08/22/23 CNY 58.59
JIANGSU JINTAN GUOFA IN 4.60 08/22/23 CNY 58.27
JIANGSU JINTAN GUOFA IN 6.85 05/30/21 CNY 20.23
JIANGSU JINTAN GUOFA IN 6.85 05/30/21 CNY 20.00
JIANGSU JURONG FUDI BIO 7.70 03/21/21 CNY 40.70
JIANGSU JURONG FUDI BIO 7.70 03/21/21 CNY 40.48
JIANGSU NANTONG NO2 CON 8.10 07/10/21 CNY 20.14
JIANGSU RUNCHENG ASSET 7.88 04/16/21 CNY 28.80
JIANGSU RUNCHENG ASSET 7.88 04/16/21 CNY 20.37
JIANGSU RUNQI WANGUO IN 4.14 10/21/21 CNY 59.99
JIANGSU RUNQI WANGUO IN 4.14 10/21/21 CNY 59.18
JIANGSU SUHAI INVESTMEN 7.28 05/29/21 CNY 25.00
JIANGSU SUHAI INVESTMEN 7.28 05/29/21 CNY 20.18
JIANGSU TAICANG PORT DE 7.40 04/28/21 CNY 20.44
JIANGSU TAICANG PORT DE 7.40 04/28/21 CNY 20.00
JIANGSU WUZHONG ECONOMI 5.49 11/19/21 CNY 40.51
JIANGSU WUZHONG ECONOMI 5.49 11/19/21 CNY 40.32
JIANGSU XISHAN ECONOMIC 5.78 07/20/22 CNY 40.89
JIANGSU XISHAN ECONOMIC 5.78 07/20/22 CNY 40.00
JIANGSU YANGKOU PORT CO 6.23 04/10/22 CNY 47.50
JIANGSU YANGKOU PORT CO 6.23 04/10/22 CNY 40.73
JIANGSU YINGZHOU DEVELO 4.33 09/21/23 CNY 58.17
JIANGSU YINGZHOU DEVELO 4.33 09/21/23 CNY 57.86
JIANGSU YIXING ECONOMIC 7.69 04/18/21 CNY 30.19
JIANGSU YIXING ECONOMIC 7.69 04/18/21 CNY 20.40
JIANGSU ZHANGJIAGANG EC 3.95 03/22/23 CNY 60.07
JIANGSU ZHANGJIAGANG EC 3.95 03/22/23 CNY 60.00
JIANGSU ZHUFU INDUSTRIA 4.47 07/20/23 CNY 58.90
JIANGSU ZHUFU INDUSTRIA 4.47 07/20/23 CNY 56.30
JIANGSU ZHUFU INDUSTRIA 4.93 12/29/20 CNY 40.13
JIANGXI HEJI INVESTMENT 5.09 12/17/22 CNY 60.00
JIANGXI HEJI INVESTMENT 5.09 12/17/22 CNY 59.78
JIANGXI HUIHENG PROPERT 4.43 08/30/21 CNY 40.13
JIANGXI HUIHENG PROPERT 4.43 08/30/21 CNY 39.91
JIANGXI LONGHU MOUNTAIN 4.35 03/16/23 CNY 59.53
JIANGXI LONGHU MOUNTAIN 4.35 03/16/23 CNY 59.50
JIANGXI PINGXIANG CHANG 8.18 05/22/21 CNY 29.34
JIANGXI PINGXIANG CHANG 8.18 05/22/21 CNY 20.39
JIANGXI PROVINCE SITONG 8.20 04/18/21 CNY 20.56
JIANGXI PROVINCE SITONG 8.20 04/18/21 CNY 20.33
JIANGYIN LINGANG NEW CI 7.10 11/07/20 CNY 21.00
JIANGYIN LINGANG NEW CI 7.10 11/07/20 CNY 20.04
JIANGYOU HONGFEI INVEST 6.55 09/02/22 CNY 40.61
JIANGYOU HONGFEI INVEST 6.55 09/02/22 CNY 40.31
JIANHU COUNTY DEVELOPME 7.29 09/25/21 CNY 22.75
JIANHU COUNTY DEVELOPME 7.29 09/25/21 CNY 20.21
JIANHU URBAN CONSTRUCTI 3.28 10/13/21 CNY 71.00
JIANHU URBAN CONSTRUCTI 3.28 10/13/21 CNY 69.54
JIANHU URBAN CONSTRUCTI 6.30 06/01/22 CNY 42.86
JIANHU URBAN CONSTRUCTI 6.30 06/01/22 CNY 40.09
JIAXING ECONOMIC&TECHNO 7.89 03/05/21 CNY 21.13
JIAXING ECONOMIC&TECHNO 7.89 03/05/21 CNY 20.37
JIAXING NANHU INVESTMEN 7.45 02/26/21 CNY 21.80
JIAXING NANHU INVESTMEN 7.45 02/26/21 CNY 20.24
JIAXING XIANGJIADANG DE 3.87 09/21/23 CNY 59.94
JIAXING XIANGJIADANG DE 4.13 07/20/23 CNY 59.53
JIAXING XIANGJIADANG DE 4.13 07/20/23 CNY 58.22
JIAXING XIANGJIADANG DE 3.87 09/21/23 CNY 57.78
JIAYU COUNTY URBAN TOWN 5.70 01/19/23 CNY 60.59
JIAYU COUNTY URBAN TOWN 5.70 01/19/23 CNY 60.59
JIAYUGUAN CITY INFRASTR 7.83 09/23/21 CNY 20.32
JIAYUGUAN CITY INFRASTR 7.83 09/23/21 CNY 20.00
JIEYANG CITY INVESTMENT 6.55 08/27/21 CNY 20.31
JILIN CITY CONSTRUCTION 3.80 01/27/23 CNY 59.90
JILIN CITY CONSTRUCTION 3.80 01/27/23 CNY 59.55
JILIN ECONOMIC AND TECH 6.20 04/29/23 CNY 60.33
JILIN ECONOMIC AND TECH 6.20 04/29/23 CNY 59.55
JILIN NORTHEAST SOCK IN 7.50 05/19/22 CNY 71.28
JILIN NORTHEAST SOCK IN 6.80 12/19/21 CNY 70.10
JILIN RAILWAY INVESTMEN 7.18 03/04/21 CNY 20.11
JILIN RAILWAY INVESTMEN 7.18 03/04/21 CNY 19.76
JINAN CITY CONSTRUCTION 6.80 03/20/21 CNY 20.28
JINAN CITY CONSTRUCTION 6.80 03/20/21 CNY 20.20
JINAN CITY LICHENG DIST 5.00 06/23/22 CNY 39.58
JINAN CITY LICHENG DIST 5.00 06/23/22 CNY 39.56
JINAN HI-TECH HOLDING G 6.38 06/19/21 CNY 20.30
JINAN HI-TECH HOLDING G 6.38 06/19/21 CNY 20.30
JINCHANG CONSTRUCTION I 6.79 12/21/22 CNY 60.46
JINCHANG CONSTRUCTION I 6.79 12/21/22 CNY 60.00
JINCHENG STATE-OWNED CA 4.99 11/11/21 CNY 40.36
JINCHENG STATE-OWNED CA 4.99 11/11/21 CNY 40.20
JINGDEZHEN CERAMIC CULT 5.38 11/27/22 CNY 60.24
JINGDEZHEN CERAMIC CULT 5.38 11/27/22 CNY 60.00
JINGHONG STATE-OWNED AS 8.08 05/23/21 CNY 20.23
JINGHONG STATE-OWNED AS 8.08 05/23/21 CNY 20.00
JINGJIANG CITY INVESTME 4.55 03/30/23 CNY 60.08
JINGJIANG CITY INVESTME 4.55 03/30/23 CNY 59.22
JINGJIANG HARBOUR GROUP 7.30 08/05/21 CNY 28.68
JINGJIANG HARBOUR GROUP 7.30 08/05/21 CNY 20.24
JINGMEN CITY CONSTRUCTI 6.85 07/09/22 CNY 30.90
JINGMEN CITY CONSTRUCTI 6.85 07/09/22 CNY 30.74
JINGMEN CITY CONSTRUCTI 7.00 10/17/20 CNY 20.00
JINGMEN CITY CONSTRUCTI 7.00 10/17/20 CNY 18.57
JINGMEN HIGH-TECH DEVEL 4.15 07/28/23 CNY 59.27
JINGMEN HIGH-TECH DEVEL 4.15 07/28/23 CNY 58.33
JINGMEN HIGH-TECH DEVEL 5.48 08/11/22 CNY 40.73
JINGMEN HIGH-TECH DEVEL 5.48 08/11/22 CNY 39.80
JINGSHAN JINGCHENG INVE 4.38 08/29/23 CNY 60.07
JINGSHAN JINGCHENG INVE 4.38 08/29/23 CNY 59.33
JINGZHOU DEVELOPMENT ZO 8.20 12/09/20 CNY 20.14
JINGZHOU DEVELOPMENT ZO 8.20 12/09/20 CNY 20.10
JINGZHOU URBAN CONSTRUC 3.97 03/10/23 CNY 60.14
JINGZHOU URBAN CONSTRUC 3.97 03/10/23 CNY 60.07
JINHU COUNTY STATE-OWNE 4.00 07/26/22 CNY 50.16
JINHU COUNTY STATE-OWNE 4.00 07/26/22 CNY 50.15
JINHU COUNTY STATE-OWNE 7.75 08/25/21 CNY 21.33
JINHU COUNTY STATE-OWNE 7.75 08/25/21 CNY 20.47
JINING CITY SHIZHONG DI 3.52 09/14/23 CNY 59.19
JINING CITY SHIZHONG DI 6.39 01/29/22 CNY 44.44
JINING CITY SHIZHONG DI 6.39 01/29/22 CNY 40.57
JINING HIGH TECH URBAN 6.09 04/30/22 CNY 41.50
JINING HIGH TECH URBAN 6.09 04/30/22 CNY 40.90
JINSHA COUNTY CONSTRUCT 6.01 09/05/23 CNY 58.81
JINSHA COUNTY CONSTRUCT 6.01 09/05/23 CNY 58.81
JINTANG MODERN AGRICULT 5.49 07/14/23 CNY 58.83
JINTANG MODERN AGRICULT 5.49 07/14/23 CNY 57.88
JINZHAI URBAN DEVELOPME 5.90 04/25/23 CNY 61.10
JINZHAI URBAN DEVELOPME 5.90 04/25/23 CNY 60.77
JINZHOU CITY INVESTMENT 6.44 08/18/21 CNY 24.91
JINZHOU CITY INVESTMENT 8.50 12/27/20 CNY 20.60
JINZHOU CITY INVESTMENT 6.44 08/18/21 CNY 20.19
JINZHOU CITY INVESTMENT 8.50 12/27/20 CNY 20.12
JINZHOU HUAXING INVESTM 8.38 02/25/21 CNY 25.00
JINZHOU HUAXING INVESTM 9.10 01/21/21 CNY 20.90
JINZHOU HUAXING INVESTM 8.38 02/25/21 CNY 20.18
JINZHOU HUAXING INVESTM 9.10 01/21/21 CNY 20.16
JISHOU HUATAI STATE OWN 7.18 02/09/22 CNY 42.82
JISHOU HUATAI STATE OWN 7.18 02/09/22 CNY 40.36
JIUJIANG CITY CONSTRUCT 5.50 05/22/22 CNY 40.80
JIUJIANG CITY CONSTRUCT 5.50 05/22/22 CNY 39.55
JIUJIANG LAND INVESTMEN 6.20 03/23/22 CNY 40.77
JIUJIANG LAND INVESTMEN 6.20 03/23/22 CNY 40.36
JIUJIANG LIANXI DISTRIC 4.58 03/30/23 CNY 59.76
JIUJIANG LIANXI DISTRIC 4.58 03/30/23 CNY 59.67
JIUQUAN ECONOMIC DEVELO 7.40 02/26/21 CNY 20.60
JIUQUAN ECONOMIC DEVELO 7.40 02/26/21 CNY 20.24
JIXI STATE OWN ASSET MA 6.87 01/19/22 CNY 40.85
JIXI STATE OWN ASSET MA 6.87 01/19/22 CNY 40.08
KAIFENG URBAN OPERATION 6.35 03/23/22 CNY 40.11
KAIFENG URBAN OPERATION 6.35 03/23/22 CNY 40.11
KAIFU CITY DEVELOPMENT 4.20 01/21/23 CNY 60.08
KAIFU CITY DEVELOPMENT 3.73 08/22/23 CNY 59.49
KAIFU CITY DEVELOPMENT 3.73 08/22/23 CNY 59.42
KAILI GUIZHOU TOWN CONS 5.29 12/17/22 CNY 60.00
KAILI GUIZHOU TOWN CONS 5.29 12/17/22 CNY 58.50
KANGMEI PHARMACEUTICAL 6.33 01/27/22 CNY 36.69
KANGMEI PHARMACEUTICAL 5.47 09/15/22 CNY 21.25
KANGMEI PHARMACEUTICAL 5.29 08/16/22 CNY 21.25
KANGMEI PHARMACEUTICAL 5.20 07/17/22 CNY 21.25
KANGMEI PHARMACEUTICAL 6.80 06/28/21 CNY 21.25
KANGMEI PHARMACEUTICAL 7.00 06/21/21 CNY 21.25
KANGMEI PHARMACEUTICAL 5.50 04/20/21 CNY 21.25
KANGMEI PHARMACEUTICAL 6.10 03/28/21 CNY 21.25
KANGMEI PHARMACEUTICAL 6.28 03/20/21 CNY 21.25
KASHI URBAN CONSTRUCTIO 5.80 07/20/22 CNY 40.76
KASHI URBAN CONSTRUCTIO 5.80 07/20/22 CNY 40.00
KUNMING DONGJUN REAL ES 4.50 11/02/21 CNY 49.50
KUNSHAN COMMUNICATION D 6.95 05/22/21 CNY 25.45
KUNSHAN COMMUNICATION D 6.95 05/22/21 CNY 20.26
KUNSHAN HIGH TECHNOLOGY 7.10 03/26/21 CNY 20.29
KUNSHAN HIGH TECHNOLOGY 7.10 03/26/21 CNY 19.90
LAIWU CITY ECONOMIC DEV 7.08 02/28/21 CNY 20.60
LAIWU CITY ECONOMIC DEV 7.08 02/28/21 CNY 20.19
LANZHOU STATE OWNED ASS 6.32 09/10/21 CNY 20.06
LANZHOU STATE OWNED ASS 6.32 09/10/21 CNY 14.90
LAOHEKOU CITY CONSTRUCT 6.75 08/12/22 CNY 40.47
LAOHEKOU CITY CONSTRUCT 6.75 08/12/22 CNY 40.42
LEIYANG CITY AND RURAL 7.80 04/10/22 CNY 41.38
LEIYANG CITY AND RURAL 7.80 04/10/22 CNY 41.35
LEQING CITY STATE OWNED 5.99 10/20/21 CNY 40.85
LEQING CITY STATE OWNED 5.99 10/20/21 CNY 40.50
LESHAN STATE-OWNED ASSE 5.68 10/22/21 CNY 40.44
LESHAN STATE-OWNED ASSE 5.68 10/22/21 CNY 40.00
LIANYUNGANG TRANSPORT G 5.47 11/17/21 CNY 45.00
LIANYUNGANG TRANSPORT G 5.47 11/17/21 CNY 40.43
LIAOCHENG ANTAI URBAN R 5.16 04/11/23 CNY 60.18
LIAOCHENG ANTAI URBAN R 5.16 04/11/23 CNY 60.10
LIAOCHENG ANTAI URBAN R 4.58 04/11/23 CNY 59.88
LIAOCHENG ANTAI URBAN R 4.58 04/11/23 CNY 59.73
LIAOCHENG XINGYE ECONOM 5.20 04/13/23 CNY 60.81
LIAOCHENG XINGYE ECONOM 5.20 04/13/23 CNY 57.91
LIAONING COASTAL ECONOM 8.90 04/01/21 CNY 11.12
LIAONING COASTAL ECONOM 8.90 04/01/21 CNY 3.63
LIAONING YAODU DEVELOPM 6.50 04/29/23 CNY 60.64
LILING HIGH-TECH INDUST 4.93 01/19/23 CNY 59.36
LILING HIGH-TECH INDUST 4.93 01/19/23 CNY 59.23
LINFEN YAODU DISTRICT I 7.19 03/13/22 CNY 40.56
LINFEN YAODU DISTRICT I 7.19 03/13/22 CNY 40.49
LISHUI CITY CONSTRUCTIO 5.67 08/13/22 CNY 40.95
LISHUI CITY CONSTRUCTIO 5.67 08/13/22 CNY 40.55
LIUPANSHUI DEVELOPMENT 3.74 01/20/23 CNY 59.65
LIUPANSHUI MINSHENG INV 5.08 01/29/23 CNY 59.13
LIUPANSHUI MINSHENG INV 5.08 01/29/23 CNY 59.04
LIUYANG MODERN MANUFACT 4.72 01/19/23 CNY 59.46
LIUYANG MODERN MANUFACT 4.72 01/19/23 CNY 59.09
LIUYANG NEW INDUSTRIAL 4.43 10/23/22 CNY 60.30
LIUYANG NEW INDUSTRIAL 4.43 10/23/22 CNY 60.09
LIUYANG URBAN CONSTRUCT 4.45 05/24/23 CNY 60.65
LIUYANG URBAN CONSTRUCT 4.45 05/24/23 CNY 60.41
LIUYANG URBAN CONSTRUCT 6.98 08/22/21 CNY 20.60
LIUYANG URBAN CONSTRUCT 6.98 08/22/21 CNY 20.50
LIUZHOU CITY INVESTMENT 7.18 12/31/22 CNY 46.09
LIUZHOU DONGTONG INVEST 4.45 07/22/23 CNY 58.04
LIUZHOU DONGTONG INVEST 4.45 07/22/23 CNY 58.02
LIUZHOU INVESTMENT HOLD 4.28 03/08/23 CNY 59.60
LIUZHOU INVESTMENT HOLD 4.28 03/08/23 CNY 59.49
LIUZHOU LONGJIAN INVEST 8.28 04/30/24 CNY 63.05
LIUZHOU LONGJIAN INVEST 8.28 04/30/24 CNY 60.22
LIYANG KUNLUN URBAN CON 5.90 10/24/21 CNY 40.34
LIYANG KUNLUN URBAN CON 5.90 10/24/21 CNY 38.00
LONGHAI STATE-OWNED ASS 6.58 08/15/21 CNY 20.31
LONGYAN RAILWAY CONSTRU 4.98 04/13/23 CNY 59.94
LONGYAN RAILWAY CONSTRU 4.98 04/13/23 CNY 59.19
LOUDI CITY CONSTRUCTION 7.95 04/15/21 CNY 30.31
LOUDI CITY CONSTRUCTION 7.95 04/15/21 CNY 20.37
LOUDI TIDU INVESTMENT D 4.83 01/20/23 CNY 59.81
LOUDI TIDU INVESTMENT D 4.83 01/20/23 CNY 59.69
LOUDI TIDU INVESTMENT D 7.18 08/27/21 CNY 20.30
LOUDI TIDU INVESTMENT D 7.18 08/27/21 CNY 20.00
LOUDI WANBAO NEW DISTRI 5.13 02/01/23 CNY 59.53
LOUDI WANBAO NEW DISTRI 5.13 02/01/23 CNY 59.35
LOUDI WANBAO NEW DISTRI 4.42 08/01/23 CNY 58.51
LOUDI WANBAO NEW DISTRI 4.42 08/01/23 CNY 58.46
LU'AN CITY CONSTRUCTION 5.05 04/26/21 CNY 50.43
LU'AN CITY CONSTRUCTION 3.97 02/22/21 CNY 50.13
LUJIANG CITY CONSTRUCTI 6.70 04/16/22 CNY 40.99
LUJIANG CITY CONSTRUCTI 6.70 04/16/22 CNY 40.00
LUOYANG CITY COUNTRY CO 4.28 04/26/23 CNY 60.42
LUOYANG CITY DEVELOPMEN 4.47 12/02/22 CNY 60.50
LUOYANG CITY DEVELOPMEN 4.47 12/02/22 CNY 60.00
LUZHOU FUYANG INVESTMEN 5.00 08/11/23 CNY 60.10
LUZHOU FUYANG INVESTMEN 5.00 08/11/23 CNY 58.90
LUZHOU XINGLU INVESTMEN 6.41 04/23/25 CNY 74.21
LUZHOU XINGLU INVESTMEN 6.41 04/23/25 CNY 70.00
LUZHOU XINGYANG INVESTM 4.87 01/28/23 CNY 59.68
LUZHOU XINGYANG INVESTM 4.87 01/28/23 CNY 59.66
MA'ANSHAN CIHU HIGH TEC 6.85 09/09/21 CNY 23.00
MA'ANSHAN CIHU HIGH TEC 6.85 09/09/21 CNY 20.40
MAANSHAN ECONOMIC TECHN 6.49 03/06/22 CNY 44.99
MAANSHAN ECONOMIC TECHN 6.49 03/06/22 CNY 40.39
MAANSHAN HUASHAN DISTRI 6.07 04/20/22 CNY 40.99
MAANSHAN SOUTHERN INDUS 4.43 09/02/23 CNY 58.98
MAANSHAN SOUTHERN INDUS 4.43 09/02/23 CNY 58.47
MAANSHAN SOUTHERN INDUS 4.53 07/25/23 CNY 58.32
MAANSHAN SOUTHERN INDUS 4.53 07/25/23 CNY 57.98
MEISHAN ASSET MANAGEMEN 7.84 02/26/21 CNY 20.29
MEISHAN ASSET MANAGEMEN 7.84 02/26/21 CNY 20.24
MEISHAN CITY DONGPO DEV 5.90 06/30/23 CNY 59.18
MEISHAN CITY DONGPO DEV 5.90 06/30/23 CNY 58.90
MEISHAN HONGDA CONSTRUC 4.18 03/28/23 CNY 59.28
MEISHAN HONGDA CONSTRUC 4.18 03/28/23 CNY 59.11
MEIZHOU CITY XIN JIN YE 6.02 04/22/22 CNY 45.32
MEIZHOU CITY XIN JIN YE 6.02 04/22/22 CNY 40.74
MEIZHOU MEI COUNTY DIST 5.00 12/30/22 CNY 60.38
MEIZHOU MEI COUNTY DIST 5.00 12/30/22 CNY 60.00
MUDANJIANG AREA URBAN D 6.48 06/30/22 CNY 45.00
MUDANJIANG AREA URBAN D 6.48 06/30/22 CNY 41.17
MUDANJIANG STATE-OWNED 7.70 04/14/21 CNY 20.18
MUDANJIANG STATE-OWNED 7.70 04/14/21 CNY 20.17
MUNICIPALITY OF SHENZHE 3.00 03/29/22 CNY 60.00
MUNICIPALITY OF SHENZHE 3.00 03/29/22 CNY 60.00
NANCHANG ECONOMY TECHNO 3.83 09/22/23 CNY 59.95
NANCHANG ECONOMY TECHNO 3.83 09/22/23 CNY 59.50
NANCHONG AIRPORT INVEST 6.80 01/26/22 CNY 40.25
NANCHONG AIRPORT INVEST 6.80 01/26/22 CNY 40.24
NANCHONG ECONOMIC DEVEL 8.28 04/21/21 CNY 31.20
NANCHONG ECONOMIC DEVEL 8.28 04/21/21 CNY 20.36
NANJING BAIXIA STATE-OW 3.98 03/29/23 CNY 60.18
NANJING BAIXIA STATE-OW 3.98 03/29/23 CNY 60.15
NANJING HEXI NEW TOWN A 3.47 06/17/21 CNY 40.07
NANJING HEXI NEW TOWN A 3.20 07/22/21 CNY 39.90
NANJING JIANGNING ECONO 7.94 04/14/24 CNY 64.99
NANJING JIANGNING ECONO 7.94 04/14/24 CNY 64.30
NANJING JIANYE SCIENCE 4.37 06/24/23 CNY 60.44
NANJING JIANYE SCIENCE 4.37 06/24/23 CNY 60.14
NANJING LISHUI ECONOMIC 6.27 09/22/21 CNY 21.29
NANJING LISHUI ECONOMIC 6.27 09/22/21 CNY 20.48
NANJING LISHUI URBAN CO 4.97 04/28/23 CNY 60.94
NANJING LISHUI URBAN CO 4.97 04/28/23 CNY 60.80
NANJING METRO GROUP CO 3.29 08/29/23 CNY 59.71
NANJING QIXIA STATE-OWN 4.10 06/24/23 CNY 60.24
NANJING QIXIA STATE-OWN 4.10 06/24/23 CNY 60.15
NANJING STATE OWNED ASS 5.60 03/06/23 CNY 46.19
NANJING STATE OWNED ASS 5.60 03/06/23 CNY 45.91
NANJING TANGSHAN CONSTR 6.80 06/30/21 CNY 26.80
NANJING TANGSHAN CONSTR 6.80 06/30/21 CNY 20.45
NANNING HI-TECH INDUSTR 4.28 03/25/23 CNY 58.93
NANNING HI-TECH INDUSTR 4.28 03/25/23 CNY 55.20
NANNING LVGANG CONSTRUC 7.30 06/27/21 CNY 24.80
NANNING LVGANG CONSTRUC 7.30 06/27/21 CNY 20.29
NANPING CITY WUYI NEW D 4.96 09/28/22 CNY 40.60
NANPING CITY WUYI NEW D 4.96 09/28/22 CNY 40.34
NANTONG CHONGCHUAN URBA 5.70 07/21/22 CNY 71.73
NANTONG CHONGCHUAN URBA 5.70 07/21/22 CNY 70.00
NANTONG CHONGCHUAN URBA 7.15 04/18/21 CNY 25.40
NANTONG CHONGCHUAN URBA 7.15 04/18/21 CNY 20.33
NANTONG CITY GANGZHA DI 3.80 09/06/21 CNY 40.01
NANTONG CITY GANGZHA DI 3.80 09/06/21 CNY 39.68
NANTONG CITY TONGZHOU D 3.75 07/07/23 CNY 59.51
NANTONG HIGH TECHNOLOGY 5.00 10/19/22 CNY 61.52
NANTONG HIGH TECHNOLOGY 5.00 10/19/22 CNY 60.78
NANTONG SUTONG SCIENCE 6.20 03/18/22 CNY 40.84
NANTONG SUTONG SCIENCE 6.20 03/18/22 CNY 40.00
NANYANG HIGH-TECH DISTR 6.45 04/29/23 CNY 61.46
NANYANG HIGH-TECH DISTR 6.45 04/29/23 CNY 60.78
NANYANG INVESTMENT GROU 7.05 10/24/20 CNY 20.17
NANYANG INVESTMENT GROU 7.05 10/24/20 CNY 20.03
NEIJIANG CITY XINGYUAN 4.28 08/16/23 CNY 58.37
NEIJIANG CITY XINGYUAN 4.28 08/16/23 CNY 57.59
NEIJIANG INVESTMENT HOL 7.99 04/24/21 CNY 28.53
NEIJIANG INVESTMENT HOL 7.99 04/24/21 CNY 20.16
NEIJIANG STATE-OWNED AS 6.20 04/12/23 CNY 59.15
NEIJIANG STATE-OWNED AS 6.20 04/12/23 CNY 58.71
NEIJINAG CONSTRUCTION E 5.03 12/25/22 CNY 59.64
NEIJINAG CONSTRUCTION E 5.03 12/25/22 CNY 56.36
NEOGLORY HOLDING GROUP 8.10 11/23/18 CNY 72.00
NEOGLORY HOLDING GROUP 8.00 09/25/20 CNY 60.00
NEOGLORY HOLDING GROUP 8.00 10/22/20 CNY 56.00
NINGBO CITY HAISHU GUAN 7.75 03/06/21 CNY 26.30
NINGBO CITY HAISHU GUAN 7.75 03/06/21 CNY 20.26
NINGBO CITY ZHENHAI INV 5.85 12/04/21 CNY 40.47
NINGBO CITY ZHENHAI INV 5.85 12/04/21 CNY 40.46
NINGBO ECONOMIC & TECHN 7.09 04/21/21 CNY 29.00
NINGBO ECONOMIC & TECHN 7.09 04/21/21 CNY 20.32
NINGBO MEISHAN ISLAND D 6.27 03/23/22 CNY 48.29
NINGBO MEISHAN ISLAND D 6.27 03/23/22 CNY 40.91
NINGGUO CITY STATE OWNE 8.70 04/28/21 CNY 20.56
NINGGUO CITY STATE OWNE 8.70 04/28/21 CNY 20.00
NINGHAI COUNTY URBAN IN 8.00 01/02/21 CNY 25.00
NINGHAI COUNTY URBAN IN 7.99 04/16/21 CNY 20.70
NINGHAI COUNTY URBAN IN 7.99 04/16/21 CNY 20.48
NINGHAI COUNTY URBAN IN 8.00 01/02/21 CNY 20.18
NINGXIANG CITY CONSTRUC 6.70 01/20/22 CNY 40.76
NINGXIANG CITY CONSTRUC 6.70 01/20/22 CNY 40.20
NINGXIANG ECONOMIC TECH 3.87 01/27/23 CNY 59.98
NINGXIANG ECONOMIC TECH 3.87 01/27/23 CNY 59.50
NINGXIANG ECONOMIC TECH 8.20 04/16/21 CNY 20.36
NINGXIANG STATE-OWNED A 4.89 06/03/23 CNY 59.62
NINGXIANG STATE-OWNED A 4.89 06/03/23 CNY 58.98
ONE BELT ONE ROAD JIANG 4.70 07/15/23 CNY 60.36
ONE BELT ONE ROAD JIANG 4.70 07/15/23 CNY 60.27
PANJIN CITY SHUANGTAIZI 7.25 01/22/22 CNY 40.76
PANJIN CITY SHUANGTAIZI 7.25 01/22/22 CNY 40.28
PANSHAN COUNTY STATE-OW 7.48 01/21/22 CNY 40.50
PANSHAN COUNTY STATE-OW 7.48 01/21/22 CNY 40.50
PANZHIHUA STATE OWNED A 8.18 03/13/22 CNY 41.30
PANZHIHUA STATE OWNED A 8.18 03/13/22 CNY 41.20
PANZHIHUA STATE OWNED A 7.60 03/05/21 CNY 20.32
PANZHIHUA STATE OWNED A 7.60 03/05/21 CNY 20.19
PEIXIAN CITY INVESTMENT 5.20 11/10/22 CNY 60.00
PEIXIAN CITY INVESTMENT 5.20 11/10/22 CNY 59.91
PEKING UNIVERSITY FOUND 6.30 03/04/24 CNY 11.00
PEKING UNIVERSITY FOUND 6.50 11/16/23 CNY 11.00
PEKING UNIVERSITY FOUND 6.68 08/09/23 CNY 11.00
PEKING UNIVERSITY FOUND 5.80 01/28/22 CNY 11.00
PEKING UNIVERSITY FOUND 5.99 11/02/21 CNY 11.00
PEKING UNIVERSITY FOUND 6.10 08/22/21 CNY 11.00
PEKING UNIVERSITY FOUND 4.80 07/26/21 CNY 11.00
PEKING UNIVERSITY FOUND 6.30 09/12/20 CNY 11.00
PEKING UNIVERSITY FOUND 6.15 07/23/20 CNY 11.00
PEKING UNIVERSITY FOUND 6.20 05/31/20 CNY 11.00
PINGHU CITY INVESTMENT 5.13 04/29/23 CNY 60.85
PINGHU CITY INVESTMENT 5.13 04/29/23 CNY 60.75
PINGHU ECONOMIC DEVELOP 7.99 04/17/21 CNY 20.22
PINGLIANG CULTURAL & TO 6.85 11/30/22 CNY 60.54
PINGLIANG CULTURAL & TO 6.85 11/30/22 CNY 60.00
PINGTAN COMPREHENSIVE P 3.92 01/29/23 CNY 60.15
PINGXIANG CHANGXING INV 5.26 04/11/23 CNY 59.48
PINGXIANG CHANGXING INV 5.26 04/11/23 CNY 59.44
PINGXIANG HUIFENG INVES 6.60 01/26/22 CNY 40.54
PINGXIANG HUIFENG INVES 6.60 01/26/22 CNY 40.12
PINGYANG STATE-OWNED AS 4.97 01/08/23 CNY 60.18
PINGYANG STATE-OWNED AS 4.97 01/08/23 CNY 60.00
PIZHOU CITY HENGRUN INV 6.46 12/05/21 CNY 42.46
PIZHOU CITY HENGRUN INV 6.46 12/05/21 CNY 40.33
PIZHOU ECONOMIC DEVELOP 5.00 10/29/22 CNY 60.00
PIZHOU ECONOMIC DEVELOP 5.00 10/29/22 CNY 59.54
PIZHOU RUNCAI ASSET MAN 5.90 12/18/20 CNY 50.09
PUTIAN HIGH TECHNOLOGY 5.90 05/03/22 CNY 49.91
PUTIAN HIGH TECHNOLOGY 5.90 05/03/22 CNY 49.72
PUYANG INVESTMENT GROUP 8.00 12/11/20 CNY 20.13
PUYANG INVESTMENT GROUP 8.00 12/11/20 CNY 20.00
QIANAN URBAN CONSTRUCTI 7.19 08/11/21 CNY 20.52
QIANAN URBAN CONSTRUCTI 8.88 01/23/21 CNY 20.23
QIANAN URBAN CONSTRUCTI 7.19 08/11/21 CNY 20.00
QIANAN URBAN CONSTRUCTI 8.88 01/23/21 CNY 20.00
QIANAN XINGYUAN WATER I 6.25 04/22/22 CNY 46.90
QIANAN XINGYUAN WATER I 6.25 04/22/22 CNY 40.82
QIANDONGNAN TRANSPORTAT 5.79 12/21/22 CNY 57.68
QIANDONGNAN TRANSPORTAT 5.79 12/21/22 CNY 57.23
QIANDONGNANZHOU KAIHONG 5.30 09/22/26 CNY 74.47
QIANDONGNANZHOU KAIHONG 5.30 09/22/26 CNY 68.02
QIANJIANG URBAN CONSTRU 5.19 12/21/22 CNY 61.28
QIANJIANG URBAN CONSTRU 5.19 12/21/22 CNY 60.00
QIANJIANG URBAN CONSTRU 8.38 04/22/21 CNY 20.52
QIANJIANG URBAN CONSTRU 8.38 04/22/21 CNY 20.39
QIANNANZHOU INVESTMENT 6.43 03/09/22 CNY 38.65
QIANNANZHOU INVESTMENT 6.43 03/09/22 CNY 38.50
QIANXINAN AUTONOMOUS RE 5.90 06/22/23 CNY 59.48
QIANXINAN AUTONOMOUS RE 5.90 06/22/23 CNY 59.12
QIDONG COMMUNICATIONS I 4.00 03/18/23 CNY 59.94
QIDONG STATE-OWNED ASSE 4.00 03/09/23 CNY 60.16
QIDONG STATE-OWNED ASSE 4.00 03/09/23 CNY 59.30
QIDONG STATE-OWNED ASSE 7.30 11/20/22 CNY 46.48
QIDONG URBAN CONSTRUCTI 8.20 04/04/21 CNY 20.46
QIDONG URBAN CONSTRUCTI 7.90 04/28/21 CNY 20.34
QIDONG URBAN CONSTRUCTI 8.20 04/04/21 CNY 20.33
QIHE CITY OPERATION CON 5.10 03/07/23 CNY 60.14
QIHE CITY OPERATION CON 5.10 03/07/23 CNY 60.13
QINGDAO CHANGYANG INVES 3.73 09/12/23 CNY 59.70
QINGDAO CHANGYANG INVES 3.73 09/12/23 CNY 59.69
QINGDAO CONSON DEVELOPM 6.40 12/12/22 CNY 46.33
QINGDAO CONSON DEVELOPM 6.40 12/12/22 CNY 46.30
QINGDAO HICREAT DEVELOP 6.88 04/25/21 CNY 21.13
QINGDAO HICREAT DEVELOP 6.88 04/25/21 CNY 20.21
QINGDAO JIAOZHOU BAY DE 6.33 09/18/21 CNY 21.30
QINGDAO JIAOZHOU BAY DE 6.33 09/18/21 CNY 20.51
QINGDAO JIMO CITY TOURI 5.47 11/17/21 CNY 41.00
QINGDAO JIMO CITY TOURI 5.47 11/17/21 CNY 40.37
QINGDAO LAIXI CITY ASSE 7.50 03/06/21 CNY 28.79
QINGDAO LAIXI CITY ASSE 7.50 03/06/21 CNY 20.18
QINGDAO OCEAN INVESTMEN 4.36 05/12/23 CNY 60.61
QINGDAO OCEAN INVESTMEN 4.36 05/12/23 CNY 59.56
QINGDAO WEST COAST DEVE 4.26 06/06/23 CNY 60.45
QINGDAO WEST COAST DEVE 4.26 06/06/23 CNY 59.94
QINGHAI PROVINCIAL INVE 6.40 07/10/21 USD 35.56
QINGHAI PROVINCIAL INVE 7.88 03/22/21 USD 34.93
QINGHAI STATE-OWNED ASS 5.90 12/17/22 CNY 45.00
QINGHAI STATE-OWNED ASS 5.40 05/21/23 CNY 42.50
QINGYANG CITY ECONOMIC 7.98 04/16/21 CNY 20.21
QINGYANG CITY ECONOMIC 7.98 04/16/21 CNY 20.20
QINGYUAN TRANSPORTATION 8.20 12/19/20 CNY 20.14
QINGZHOU HONGYUAN PUBLI 7.59 05/29/21 CNY 20.29
QINHUANGDAO CITY DEVELO 4.69 04/14/23 CNY 60.59
QINHUANGDAO CITY DEVELO 4.69 04/14/23 CNY 58.97
QINHUANGDAO DEVELOPMENT 4.07 08/26/23 CNY 58.09
QINHUANGDAO DEVELOPMENT 4.07 08/26/23 CNY 57.69
QINHUANGDAO DEVELOPMENT 8.45 04/18/21 CNY 21.28
QINHUANGDAO DEVELOPMENT 8.45 04/18/21 CNY 20.26
QINHUANGDAO DEVELOPMENT 8.00 12/17/20 CNY 20.08
QINHUANGDAO DEVELOPMENT 8.00 12/17/20 CNY 20.00
QINZHOU BINHAI NEW CITY 6.99 07/07/21 CNY 20.28
QINZHOU BINHAI NEW CITY 6.99 07/07/21 CNY 20.00
QIONGLAI CITY CONSTRUCT 6.98 03/25/22 CNY 40.80
QIONGLAI CITY CONSTRUCT 6.98 03/25/22 CNY 40.72
QUANJIAO URBAN INFRASTR 5.10 05/18/23 CNY 59.28
QUANJIAO URBAN INFRASTR 5.10 05/18/23 CNY 59.26
QUJING CITY QILIN DISTR 5.37 11/26/22 CNY 61.95
QUJING CITY QILIN DISTR 5.37 11/26/22 CNY 59.40
QUJING DEVELOPMENT INVE 7.48 04/28/21 CNY 22.55
QUJING DEVELOPMENT INVE 7.48 04/28/21 CNY 20.21
QUJING ECO TECH DEVELOP 5.75 06/01/23 CNY 59.88
QUJING ECO TECH DEVELOP 5.75 06/01/23 CNY 59.75
QUJING ECO TECH DEVELOP 7.48 07/21/21 CNY 20.38
QUZHOU STATE OWNED ASSE 7.20 04/21/21 CNY 23.42
QUZHOU STATE OWNED ASSE 7.20 04/21/21 CNY 20.42
RENHUAI CITY DEVELOPMEN 5.12 04/14/23 CNY 59.04
RENHUAI CITY DEVELOPMEN 5.12 04/14/23 CNY 59.01
RENHUAI CITY DEVELOPMEN 8.09 05/16/21 CNY 20.49
RENHUAI CITY DEVELOPMEN 8.09 05/16/21 CNY 20.47
RENQIU CONSTRUCTION INV 5.68 11/18/22 CNY 60.64
RENQIU CONSTRUCTION INV 5.68 11/18/22 CNY 58.22
RENSHOU DEVELOPMENT OF 6.42 12/22/22 CNY 61.05
RENSHOU DEVELOPMENT OF 6.42 12/22/22 CNY 60.00
REWARD SCIENCE AND TECH 6.40 03/03/22 CNY 70.00
REWARD SCIENCE AND TECH 5.53 07/05/21 CNY 29.10
RIGHT WAY REAL ESTATE D 8.00 07/15/21 CNY 43.89
RIZHAO CITY CONSTRUCTIO 3.98 12/07/22 CNY 60.46
RIZHAO CITY CONSTRUCTIO 3.98 12/07/22 CNY 59.60
RUDONG COUNTY DONGTAI S 6.99 06/20/21 CNY 25.90
RUDONG COUNTY DONGTAI S 6.99 06/20/21 CNY 20.40
RUDONG COUNTY JINXIN TR 3.80 07/26/23 CNY 59.82
RUDONG COUNTY JINXIN TR 3.80 07/26/23 CNY 59.79
RUDONG COUNTY JINXIN TR 4.57 07/26/23 CNY 59.75
RUDONG COUNTY JINXIN TR 4.57 07/26/23 CNY 59.19
RUDONG COUNTY JINXIN TR 8.08 03/03/21 CNY 24.03
RUDONG COUNTY JINXIN TR 8.08 03/03/21 CNY 20.25
RUDONG COUNTY KAITAI CI 4.57 01/08/23 CNY 60.31
RUDONG NEW WORLD INVEST 4.37 07/18/23 CNY 59.49
RUDONG NEW WORLD INVEST 4.37 07/18/23 CNY 58.46
RUGAO COMMUNICATIONS CO 3.74 03/23/23 CNY 59.94
RUGAO COMMUNICATIONS CO 3.74 03/23/23 CNY 59.80
RUGAO ECONOMIC & TRADE 3.95 03/24/23 CNY 60.07
RUGAO ECONOMIC & TRADE 3.95 03/24/23 CNY 59.97
RUGAO ECONOMIC & TRADE 8.30 01/22/21 CNY 29.00
RUGAO ECONOMIC & TRADE 8.30 01/22/21 CNY 20.24
RUGAO YANJIANG DEVELOPM 8.60 01/24/21 CNY 20.93
RUGAO YANJIANG DEVELOPM 8.60 01/24/21 CNY 20.25
RUIAN STATE OWNED ASSET 4.56 01/27/23 CNY 60.66
RUIAN STATE OWNED ASSET 4.56 01/27/23 CNY 58.96
RUICHANG CITY INVESTMEN 5.50 06/17/23 CNY 61.17
RUICHANG CITY INVESTMEN 5.50 06/17/23 CNY 61.16
RUICHANG CITY INVESTMEN 5.68 03/25/23 CNY 61.15
RUICHANG CITY INVESTMEN 5.68 03/25/23 CNY 61.14
RUIJIN URBAN DEVELOPMEN 4.13 09/06/23 CNY 58.77
RUIJIN URBAN DEVELOPMEN 4.13 09/06/23 CNY 58.68
RUZHOU CITY XINYUAN INV 4.43 09/26/23 CNY 56.27
RUZHOU CITY XINYUAN INV 4.43 09/26/23 CNY 55.96
RUZHOU CITY XINYUAN INV 6.30 09/16/21 CNY 25.34
SANMEN COUNTY STATE-OWN 6.80 03/18/22 CNY 40.96
SANMEN COUNTY STATE-OWN 6.85 10/29/21 CNY 40.62
SANMEN COUNTY STATE-OWN 6.80 03/18/22 CNY 40.00
SANMEN COUNTY STATE-OWN 6.85 10/29/21 CNY 40.00
SANMING TRANSPORTATION 3.68 03/29/23 CNY 59.76
SANMING TRANSPORTATION 3.68 03/29/23 CNY 59.51
SHAANXI ANKANG HIGH TEC 8.78 09/17/21 CNY 27.00
SHAANXI ANKANG HIGH TEC 8.78 09/17/21 CNY 20.64
SHAANXI XIXIAN NEW AREA 6.85 08/15/21 CNY 25.50
SHAANXI XIXIAN NEW AREA 6.85 08/15/21 CNY 20.47
SHAANXI XIXIAN NEW AREA 6.89 01/05/22 CNY 43.10
SHAANXI XIXIAN NEW AREA 6.89 01/05/22 CNY 40.57
SHAANXI XIXIAN NEW AREA 5.15 11/27/22 CNY 61.01
SHAANXI XIXIAN NEW AREA 5.15 11/27/22 CNY 60.63
SHANDONG BORUN INDUSTRI 6.50 11/02/21 CNY 66.21
SHANDONG BOXING COUNTY 8.00 12/22/21 CNY 41.95
SHANDONG BOXING COUNTY 8.00 12/22/21 CNY 40.93
SHANDONG CENTURY SUNSHI 8.19 07/21/21 CNY 20.63
SHANDONG CENTURY SUNSHI 8.19 07/21/21 CNY 20.62
SHANDONG FUYU CHEMICAL 7.70 09/18/22 CNY 70.00
SHANDONG GAOCHUANG CONS 6.05 06/18/22 CNY 42.45
SHANDONG GAOCHUANG CONS 6.05 06/18/22 CNY 40.75
SHANDONG HONGHE HOLDING 8.50 06/23/21 CNY 24.00
SHANDONG HONGHE HOLDING 8.50 06/23/21 CNY 20.10
SHANDONG JINMAO TEXTILE 8.00 09/25/20 CNY 35.84
SHANDONG JINMAO TEXTILE 6.97 04/01/21 CNY 20.70
SHANDONG RENCHENG RONGX 7.30 10/18/20 CNY 23.40
SHANDONG RENCHENG RONGX 7.30 10/18/20 CNY 20.01
SHANDONG RUYI TECHNOLOG 7.90 09/18/23 CNY 52.10
SHANDONG SNTON GROUP CO 6.20 05/30/21 CNY 9.50
SHANDONG SNTON GROUP CO 5.18 09/08/21 CNY 8.52
SHANDONG TAIYANG INDUST 5.97 03/02/21 CNY 42.86
SHANDONG TENGJIAN INVES 6.00 06/08/22 CNY 40.45
SHANDONG TENGJIAN INVES 6.00 06/08/22 CNY 40.00
SHANDONG WANTONG PETROL 7.97 11/29/21 CNY 6.45
SHANGHAI CAOHEJING HI-T 7.24 04/09/21 CNY 20.32
SHANGHAI CAOHEJING HI-T 7.24 04/09/21 CNY 20.31
SHANGHAI JIADING ROAD C 6.80 04/23/21 CNY 20.75
SHANGHAI JIADING ROAD C 6.80 04/23/21 CNY 20.33
SHANGHAI LAKE DIANSHAN 5.95 01/30/21 CNY 25.13
SHANGHAI LAKE DIANSHAN 5.95 01/30/21 CNY 25.10
SHANGHAI MINHANG URBAN 5.63 04/20/22 CNY 40.79
SHANGHAI MINHANG URBAN 5.63 04/20/22 CNY 40.78
SHANGHAI MUNICIPAL INVE 4.80 11/05/24 CNY 71.38
SHANGHAI NANHUI URBAN C 6.04 08/20/21 CNY 20.44
SHANGHAI NANHUI URBAN C 6.04 08/20/21 CNY 20.30
SHANGHAI PUTAILAI NEW E 5.50 03/19/21 CNY 66.67
SHANGHAI URBAN CONSTRUC 3.50 01/06/23 CNY 61.07
SHANGHAI URBAN CONSTRUC 3.50 01/06/23 CNY 59.50
SHANGRAO CITY STATE-OWN 4.65 01/29/23 CNY 60.58
SHANGRAO CITY STATE-OWN 4.65 01/29/23 CNY 60.28
SHANTOU CITY CONSTRUCTI 8.57 03/23/22 CNY 31.42
SHANTOU CITY CONSTRUCTI 8.57 03/23/22 CNY 31.40
SHANTOU INVESTMENT HOLD 7.99 03/04/24 CNY 64.40
SHANTOU INVESTMENT HOLD 7.99 03/04/24 CNY 64.10
SHANXI INTERNATIONAL EL 5.88 05/24/22 CNY 61.00
SHANXI XIANG KUANG GROU 8.80 02/11/22 CNY 72.44
SHANXI XIANG KUANG GROU 8.80 02/11/22 CNY 54.50
SHAOWU URBAN CONSTRUCTI 5.88 09/11/22 CNY 43.39
SHAOWU URBAN CONSTRUCTI 5.88 09/11/22 CNY 40.15
SHAOXING CHENGZHONGCUN 6.09 04/27/22 CNY 40.83
SHAOXING CHENGZHONGCUN 6.09 04/27/22 CNY 40.30
SHAOXING CITY INVESTMEN 5.75 04/17/22 CNY 48.00
SHAOXING CITY INVESTMEN 5.75 04/17/22 CNY 40.88
SHAOXING CITY KEQIAO DI 6.40 08/20/21 CNY 20.48
SHAOXING CITY KEQIAO DI 6.40 08/20/21 CNY 20.35
SHAOXING JINGHU NEW DIS 6.13 04/30/22 CNY 40.76
SHAOXING JINGHU NEW DIS 6.13 04/30/22 CNY 40.70
SHAOXING KEQIAO CITY CO 3.64 09/19/23 CNY 59.28
SHAOXING KEQIAO CITY CO 3.64 09/19/23 CNY 58.86
SHAOXING KEQIAO ECONOMI 7.00 12/10/21 CNY 40.89
SHAOXING KEQIAO ECONOMI 7.00 12/10/21 CNY 40.00
SHAOXING KEYAN CONSTRUC 6.28 03/24/22 CNY 40.84
SHAOXING KEYAN CONSTRUC 6.28 03/24/22 CNY 40.00
SHAOXING PAOJIANG INDUS 6.98 05/29/21 CNY 23.90
SHAOXING PAOJIANG INDUS 6.98 05/29/21 CNY 20.37
SHAOXING SHANGYU ECONOM 4.76 04/11/23 CNY 60.93
SHAOXING SHANGYU ECONOM 4.76 04/11/23 CNY 60.27
SHAOXING SHANGYU HANGZH 6.95 10/11/20 CNY 20.55
SHAOXING SHANGYU HANGZH 6.95 10/11/20 CNY 20.00
SHAOXING SHANGYU URBAN 6.80 08/07/21 CNY 21.15
SHAOXING SHANGYU URBAN 6.80 08/07/21 CNY 20.56
SHAOYANG CITY CONSTRUCT 8.58 01/17/21 CNY 20.30
SHAOYANG CITY CONSTRUCT 8.58 01/17/21 CNY 20.17
SHAOYANG DULIANG INVEST 5.50 04/13/23 CNY 59.65
SHAOYANG DULIANG INVEST 5.50 04/13/23 CNY 58.65
SHENGZHOU INVESTMENT HO 7.60 07/17/21 CNY 20.60
SHENGZHOU INVESTMENT HO 7.60 07/17/21 CNY 20.59
SHENMU CITY STATE-OWNED 7.28 06/23/21 CNY 20.60
SHENMU CITY STATE-OWNED 7.28 06/23/21 CNY 20.36
SHENYANG DADONG STATE-O 6.05 03/20/22 CNY 40.55
SHENYANG DADONG STATE-O 6.05 03/20/22 CNY 40.00
SHENYANG ECONOMIC AFFOR 7.17 04/29/22 CNY 40.05
SHENYANG ECONOMIC AFFOR 7.17 04/29/22 CNY 31.87
SHENYANG TIEXI STATE-OW 6.00 01/14/22 CNY 47.50
SHENYANG TIEXI STATE-OW 6.00 01/14/22 CNY 40.47
SHENZHEN METRO GROUP CO 6.75 01/24/24 CNY 63.07
SHENZHEN METRO GROUP CO 5.40 03/25/23 CNY 46.15
SHENZHEN METRO GROUP CO 5.40 03/25/23 CNY 46.03
SHIJIAZHUANG HUTUO NEW 5.28 12/24/25 CNY 62.70
SHIJIAZHUANG HUTUO NEW 5.28 12/24/25 CNY 62.50
SHIJIAZHUANG STATE-OWNE 5.75 04/09/22 CNY 47.20
SHIJIAZHUANG STATE-OWNE 5.75 04/09/22 CNY 40.78
SHIJIAZHUANG URBAN CONS 6.55 03/09/21 CNY 40.51
SHISHI CITY CONSTRUCTIO 6.10 05/04/22 CNY 40.87
SHIYAN ECO DEVELOPMENT 3.98 08/05/23 CNY 59.57
SHIYAN ECO DEVELOPMENT 3.98 08/05/23 CNY 59.03
SHIYAN STATE-OWNED CAPI 6.88 10/11/20 CNY 20.68
SHIYAN STATE-OWNED CAPI 6.58 08/20/21 CNY 20.50
SHIYAN STATE-OWNED CAPI 6.58 08/20/21 CNY 20.00
SHIYAN STATE-OWNED CAPI 6.88 10/11/20 CNY 19.99
SHOUGUANG CITY CONSTRUC 7.10 10/18/20 CNY 22.87
SHOUGUANG CITY CONSTRUC 7.10 10/18/20 CNY 20.01
SHUCHENG COUNTY URBAN C 5.50 04/29/23 CNY 61.11
SHUCHENG COUNTY URBAN C 5.50 04/29/23 CNY 61.10
SHUYANG JINGYUAN ASSET 5.49 09/11/22 CNY 46.00
SHUYANG JINGYUAN ASSET 5.49 09/11/22 CNY 40.54
SHUYANG JINGYUAN ASSET 7.39 04/14/21 CNY 20.33
SHUYANG JINGYUAN ASSET 7.39 04/14/21 CNY 20.00
SICHUAN COAL GASIFICATI 7.00 04/18/23 CNY 60.49
SICHUAN COAL INDUSTRY G 7.70 01/09/18 CNY 45.00
SICHUAN LANGZHONG FAMOU 5.60 04/19/23 CNY 59.75
SICHUAN LANGZHONG FAMOU 5.60 04/19/23 CNY 59.56
SICHUAN LONGYANG TIANFU 5.45 05/27/23 CNY 60.31
SICHUAN LONGYANG TIANFU 5.45 05/27/23 CNY 60.16
SICHUAN NAXING INDUSTRI 4.68 03/31/23 CNY 59.00
SICHUAN NAXING INDUSTRI 4.68 03/31/23 CNY 58.79
SICHUAN NAXING INDUSTRI 6.80 08/18/22 CNY 50.67
SICHUAN NAXING INDUSTRI 6.80 08/18/22 CNY 50.66
SICHUAN NAXING INDUSTRI 7.17 09/11/21 CNY 20.44
SICHUAN NAXING INDUSTRI 7.17 09/11/21 CNY 20.32
SICHUAN TIANYIN INDUSTR 6.79 03/25/22 CNY 48.00
SICHUAN TIANYIN INDUSTR 6.79 03/25/22 CNY 40.64
SIHONG COUNTY HONG YUAN 6.15 03/16/22 CNY 40.59
SIHONG COUNTY HONG YUAN 6.15 03/16/22 CNY 40.00
SIHUI STATE OWNED ASSET 4.59 01/14/23 CNY 59.58
SIHUI STATE OWNED ASSET 4.59 01/14/23 CNY 59.11
SIYANG COUNTY MINKANG R 4.94 01/21/23 CNY 60.56
SIYANG COUNTY MINKANG R 4.94 01/21/23 CNY 60.01
SLENDER WEST LAKE TOURI 6.80 06/25/21 CNY 20.47
SLENDER WEST LAKE TOURI 6.80 06/25/21 CNY 20.00
SONGYUAN URBAN DEVELOPM 5.79 12/04/21 CNY 40.78
SONGYUAN URBAN DEVELOPM 5.79 12/04/21 CNY 39.98
SUINING CITY HEDONG DEV 8.36 04/17/21 CNY 27.82
SUINING CITY HEDONG DEV 8.36 04/17/21 CNY 20.39
SUINING COUNTY RUNQI IN 5.42 11/20/22 CNY 60.49
SUINING COUNTY RUNQI IN 5.42 11/20/22 CNY 60.00
SUINING COUNTY RUNQI IN 7.10 06/25/21 CNY 20.42
SUINING COUNTY RUNQI IN 7.10 06/25/21 CNY 20.30
SUINING FUYUAN INDUSTRY 6.39 03/17/22 CNY 44.18
SUINING FUYUAN INDUSTRY 6.39 03/17/22 CNY 40.82
SUINING KAIDA INVESTMEN 4.89 04/08/23 CNY 59.14
SUINING KAIDA INVESTMEN 4.89 04/08/23 CNY 58.64
SUINING KAIDA INVESTMEN 8.69 04/21/21 CNY 20.34
SUINING KAIDA INVESTMEN 8.69 04/21/21 CNY 20.00
SUIZHOU DEVELOPMENT INV 8.50 12/20/20 CNY 21.83
SUIZHOU DEVELOPMENT INV 8.40 04/30/21 CNY 20.71
SUIZHOU DEVELOPMENT INV 8.40 04/30/21 CNY 20.45
SUIZHOU DEVELOPMENT INV 8.50 12/20/20 CNY 20.17
SUIZHOU HIGH-TECH INDUS 4.47 03/25/23 CNY 58.84
SUIZHOU HIGH-TECH INDUS 4.47 03/25/23 CNY 58.81
SUIZHOU URBAN CONSTRUCT 7.18 09/02/21 CNY 21.20
SUIZHOU URBAN CONSTRUCT 7.18 09/02/21 CNY 20.58
SUIZHOU YULONG WATER SU 6.10 03/28/23 CNY 59.77
SUQIAN CITY CONSTRUCTIO 6.88 10/29/20 CNY 20.26
SUQIAN CITY CONSTRUCTIO 6.88 10/29/20 CNY 20.03
SUZHOU CITY CONSTRUCTIO 3.89 03/24/23 CNY 60.08
SUZHOU CITY CONSTRUCTIO 3.89 03/24/23 CNY 60.07
SUZHOU CITY HENGCHENG C 4.40 03/01/23 CNY 61.37
SUZHOU CITY HENGCHENG C 4.40 03/01/23 CNY 60.23
SUZHOU FENHU INVESTMENT 7.49 02/28/21 CNY 20.20
SUZHOU FENHU INVESTMENT 7.49 02/28/21 CNY 20.19
SUZHOU NEW & HIGH-TECH 4.18 03/23/23 CNY 59.55
SUZHOU NEW & HIGH-TECH 4.18 03/23/23 CNY 58.82
SUZHOU NEW DISTRICT ECO 6.20 07/22/21 CNY 20.45
SUZHOU NEW DISTRICT ECO 6.20 07/22/21 CNY 20.35
SUZHOU WUJIANG COMMUNIC 6.80 10/31/20 CNY 25.53
SUZHOU WUJIANG COMMUNIC 6.80 10/31/20 CNY 25.04
SUZHOU WUJIANG DISTRICT 5.25 07/08/22 CNY 40.58
SUZHOU XIANGCHENG URBAN 6.95 03/19/21 CNY 22.60
SUZHOU XIANGCHENG URBAN 6.95 03/19/21 CNY 20.35
TAIAN TAISHAN HOLDINGS 5.50 04/26/23 CNY 60.68
TAIAN TAISHAN HOLDINGS 5.50 04/26/23 CNY 59.63
TAICANG ASSETS MANAGEME 7.00 02/27/21 CNY 20.20
TAICANG ASSETS MANAGEME 7.00 02/27/21 CNY 20.20
TAICANG SCIENCE EDUCATI 5.54 08/28/22 CNY 44.65
TAICANG SCIENCE EDUCATI 5.54 08/28/22 CNY 40.91
TAIXING CITY CHENGXING 8.30 12/12/20 CNY 20.10
TAIXING CITY CHENGXING 8.30 12/12/20 CNY 19.85
TAIXING CITY HONGQIAO Y 5.03 10/29/22 CNY 63.87
TAIXING CITY HONGQIAO Y 5.03 10/29/22 CNY 59.90
TAIYUAN ECONOMIC TECHNO 7.43 04/24/21 CNY 20.28
TAIYUAN HIGH-SPEED RAIL 6.50 10/30/20 CNY 25.04
TAIYUAN STATE-OWNED INV 7.20 03/19/21 CNY 26.50
TAIYUAN STATE-OWNED INV 7.20 03/19/21 CNY 20.24
TAIZHOU CITY CONSTRUCTI 6.92 10/16/23 CNY 62.68
TAIZHOU CITY CONSTRUCTI 6.92 10/16/23 CNY 62.10
TAIZHOU HAILING CITY DE 4.60 12/14/22 CNY 60.13
TAIZHOU JIAOJIANG STATE 6.18 07/06/22 CNY 44.00
TAIZHOU JIAOJIANG STATE 6.18 07/06/22 CNY 41.19
TAIZHOU JINDONG URBAN C 5.10 06/02/23 CNY 60.26
TAIZHOU JINDONG URBAN C 5.10 06/02/23 CNY 60.10
TAIZHOU XINBINJIANG DEV 7.60 03/05/21 CNY 21.00
TAIZHOU XINBINJIANG DEV 7.60 03/05/21 CNY 20.27
TAIZHOU XINTAI GROUP CO 4.07 03/23/23 CNY 60.26
TAIZHOU XINTAI GROUP CO 4.07 03/23/23 CNY 59.95
TANGSHAN CAOFEIDIAN DEV 7.50 10/15/20 CNY 20.03
TIANJIN BAOXING INDUSTR 7.10 10/17/20 CNY 19.99
TIANJIN BEICHEN DISTRIC 7.00 04/21/21 CNY 27.15
TIANJIN BEICHEN DISTRIC 7.00 04/21/21 CNY 20.23
TIANJIN BEICHEN TECHNOL 6.87 08/20/21 CNY 27.00
TIANJIN BEICHEN TECHNOL 6.87 08/20/21 CNY 20.06
TIANJIN BINHAI NEW AREA 6.10 11/23/21 CNY 42.65
TIANJIN BOHAI STATE-OWN 3.82 04/18/23 CNY 59.69
TIANJIN BOHAI STATE-OWN 3.82 04/18/23 CNY 59.64
TIANJIN DONGFANG CAIXIN 5.19 01/29/22 CNY 40.17
TIANJIN DONGFANG CAIXIN 5.19 01/29/22 CNY 39.59
TIANJIN DONGLI CITY INF 4.28 12/02/22 CNY 59.62
TIANJIN ECONOMIC TECHNO 6.50 12/03/22 CNY 46.30
TIANJIN ECONOMIC TECHNO 6.50 12/03/22 CNY 45.54
TIANJIN GUANGCHENG INVE 5.40 04/20/23 CNY 59.28
TIANJIN GUANGCHENG INVE 5.40 04/20/23 CNY 58.01
TIANJIN GUANGCHENG INVE 6.97 02/22/23 CNY 44.67
TIANJIN GUANGCHENG INVE 6.97 02/22/23 CNY 40.01
TIANJIN GUANGCHENG INVE 7.45 07/24/21 CNY 29.00
TIANJIN GUANGCHENG INVE 7.45 07/24/21 CNY 20.02
TIANJIN HARBOR CONSTRUC 6.29 10/21/21 CNY 70.11
TIANJIN HARBOR CONSTRUC 8.00 04/01/21 CNY 40.55
TIANJIN HARBOR CONSTRUC 8.80 01/24/21 CNY 40.46
TIANJIN HI-TECH INDUSTR 6.65 09/12/21 CNY 20.30
TIANJIN HI-TECH INDUSTR 6.65 09/12/21 CNY 19.99
TIANJIN HUANCHENG URBAN 5.75 04/27/22 CNY 41.70
TIANJIN HUANCHENG URBAN 5.75 04/27/22 CNY 40.61
TIANJIN HUANCHENG URBAN 7.20 03/21/21 CNY 20.35
TIANJIN HUANCHENG URBAN 7.20 03/21/21 CNY 20.20
TIANJIN INFRASTRUCTURE 5.70 02/26/23 CNY 46.00
TIANJIN INFRASTRUCTURE 5.70 02/26/23 CNY 45.81
TIANJIN JINNAN CITY CON 6.50 06/03/21 CNY 20.29
TIANJIN JINNAN CITY CON 6.50 06/03/21 CNY 20.00
TIANJIN LINGANG INVESTM 7.75 02/26/21 CNY 20.21
TIANJIN LINGANG INVESTM 7.75 02/26/21 CNY 20.11
TIANJIN NINGHE DISTRICT 7.00 05/30/21 CNY 27.50
TIANJIN NINGHE DISTRICT 7.00 05/30/21 CNY 20.21
TIANJIN NINGHE INVESTME 5.50 04/22/23 CNY 60.60
TIANJIN NINGHE INVESTME 5.50 04/22/23 CNY 60.15
TIANJIN RAILWAY CONSTRU 5.58 04/13/25 CNY 72.49
TIANJIN REAL ESTATE TRU 8.59 03/13/21 CNY 19.50
TIANJIN RESIDENTIAL CON 8.00 12/19/20 CNY 20.03
TIANJIN STATE-OWNED CAP 1.60 12/17/39 USD 74.35
TIANJIN WATER INVESTMEN 8.40 01/15/21 CNY 25.04
TIANJIN WATER INVESTMEN 6.60 07/28/21 CNY 21.80
TIANJIN WATER INVESTMEN 6.60 07/28/21 CNY 19.33
TIANJIN WUQING STATE-OW 4.15 11/17/22 CNY 60.04
TIANJIN WUQING STATE-OW 4.15 11/17/22 CNY 59.90
TIANJIN WUQING STATE-OW 8.00 12/17/20 CNY 20.76
TIANJIN WUQING STATE-OW 7.18 03/19/21 CNY 20.42
TIANJIN WUQING STATE-OW 7.18 03/19/21 CNY 20.19
TIANJIN WUQING STATE-OW 8.00 12/17/20 CNY 20.16
TIANMEN CITY CONSTRUCTI 8.20 08/28/21 CNY 25.16
TIANMEN CITY CONSTRUCTI 8.20 08/28/21 CNY 20.77
TONGLING CONSTRUCTION I 4.12 03/14/23 CNY 60.00
TONGLING CONSTRUCTION I 4.12 03/14/23 CNY 59.88
TONGLU STATE-OWNED ASSE 8.09 04/18/21 CNY 20.98
TONGLU STATE-OWNED ASSE 8.09 04/18/21 CNY 20.42
TSINGHUA UNIGROUP CO LT 5.85 03/27/22 CNY 64.81
TSINGHUA UNIGROUP CO LT 5.20 12/10/23 CNY 59.90
TULUFAN DISTRICT STATE- 6.20 03/19/22 CNY 41.38
TULUFAN DISTRICT STATE- 6.20 03/19/22 CNY 40.68
TUNGHSU GROUP CO LTD 6.55 03/13/22 CNY 45.00
ULANQAB CITY INVESTMENT 8.39 04/25/22 CNY 51.26
ULANQAB JINING DISTRICT 6.16 03/24/23 CNY 59.77
ULANQAB JINING DISTRICT 6.16 03/24/23 CNY 59.13
URUMQI ECO&TECH DEVELOP 6.40 04/13/22 CNY 40.92
URUMQI ECO&TECH DEVELOP 6.40 04/13/22 CNY 40.00
WAFANGDIAN COASTAL PROJ 3.98 02/01/23 CNY 58.84
WAFANGDIAN COASTAL PROJ 3.98 02/01/23 CNY 58.28
WANGCHENG ECONOMIC DEVE 3.75 07/13/23 CNY 61.05
WANGCHENG ECONOMIC DEVE 3.75 07/13/23 CNY 61.02
WANGCHENG ECONOMIC DEVE 6.57 01/22/22 CNY 48.81
WANGCHENG ECONOMIC DEVE 6.57 01/22/22 CNY 40.81
WEICHI HOLDING GROUP CO 5.40 12/21/20 CNY 60.00
WEIFANG BINHAI INVESTME 6.16 04/16/21 CNY 25.22
WEIHAI LANCHUANG CONSTR 4.80 12/17/22 CNY 59.59
WEIHAI LANCHUANG CONSTR 4.80 12/17/22 CNY 59.39
WEIHAI URBAN CONSTRUCTI 3.33 03/02/23 CNY 59.44
WEIHAI URBAN CONSTRUCTI 3.33 03/02/23 CNY 58.40
WEIHAI WENDENG URBAN PR 4.80 05/26/23 CNY 59.33
WEIHAI WENDENG URBAN PR 4.80 05/26/23 CNY 58.97
WEINAN CITY INVESTMENT 6.09 03/11/22 CNY 40.67
WEINAN CITY INVESTMENT 6.09 03/11/22 CNY 40.00
WENDENG GOLDEN BEACH IN 3.97 03/21/23 CNY 59.27
WENDENG GOLDEN BEACH IN 3.97 03/21/23 CNY 59.20
WENSHAN URBAN CONSTRUCT 4.50 09/13/23 CNY 58.80
WENSHAN URBAN CONSTRUCT 4.50 09/13/23 CNY 58.54
WENZHOU CITY CONSTRUCTI 5.00 04/26/23 CNY 61.07
WENZHOU CITY CONSTRUCTI 5.00 04/26/23 CNY 60.99
WENZHOU CITY CONSTRUCTI 4.05 01/25/23 CNY 59.78
WENZHOU CITY CONSTRUCTI 4.05 01/25/23 CNY 59.57
WENZHOU GANGCHENG DEVEL 5.19 03/29/23 CNY 61.87
WENZHOU GANGCHENG DEVEL 5.19 03/29/23 CNY 60.91
WENZHOU HIGH-TECH INDUS 7.30 05/30/21 CNY 20.60
WENZHOU HIGH-TECH INDUS 7.95 03/21/21 CNY 20.46
WENZHOU HIGH-TECH INDUS 7.95 03/21/21 CNY 20.38
WENZHOU HIGH-TECH INDUS 7.30 05/30/21 CNY 20.35
WENZHOU LUCHENG CITY DE 5.58 11/03/21 CNY 40.31
WENZHOU LUCHENG CITY DE 5.58 11/03/21 CNY 40.20
WINTIME ENERGY CO LTD 7.50 04/04/21 CNY 43.63
WINTIME ENERGY CO LTD 7.90 03/29/21 CNY 43.63
WINTIME ENERGY CO LTD 7.90 12/22/20 CNY 43.63
WINTIME ENERGY CO LTD 7.50 12/06/20 CNY 43.63
WINTIME ENERGY CO LTD 7.50 11/16/20 CNY 43.63
WINTIME ENERGY CO LTD 7.70 11/15/20 CNY 43.63
WINTIME ENERGY CO LTD 7.00 04/26/19 CNY 43.63
WINTIME ENERGY CO LTD 7.00 03/19/19 CNY 43.63
WINTIME ENERGY CO LTD 7.00 12/15/18 CNY 43.63
WINTIME ENERGY CO LTD 6.78 10/23/18 CNY 43.63
WINTIME ENERGY CO LTD 7.00 08/25/18 CNY 43.63
WINTIME ENERGY CO LTD 7.30 08/06/18 CNY 43.63
WINTIME ENERGY CO LTD 7.00 07/05/18 CNY 43.63
WUHAI CITY CONSTRUCTION 8.19 04/21/21 CNY 20.32
WUHAI CITY CONSTRUCTION 8.19 04/21/21 CNY 5.42
WUHAN CHEDU CORP LTD 7.18 02/27/21 CNY 20.96
WUHAN CHEDU CORP LTD 7.18 02/27/21 CNY 20.21
WUHAN CITY HUANPI DISTR 6.43 09/17/21 CNY 23.02
WUHAN CITY HUANPI DISTR 6.43 09/17/21 CNY 20.46
WUHAN JIANGXIA URBAN CO 4.80 06/03/23 CNY 60.69
WUHAN JIANGXIA URBAN CO 4.80 06/03/23 CNY 60.50
WUHAN JIANGXIA URBAN CO 8.99 01/20/21 CNY 20.24
WUHAN METRO GROUP CO LT 5.25 04/14/22 CNY 40.36
WUHAN QIAOKOU STATE OWN 3.48 08/29/23 CNY 59.17
WUHAN QIAOKOU STATE OWN 3.48 08/29/23 CNY 58.93
WUHU COMMUNICATIONS INV 4.50 04/28/23 CNY 59.79
WUHU COMMUNICATIONS INV 4.50 04/28/23 CNY 59.76
WUHU COMMUNICATIONS INV 3.58 09/23/23 CNY 58.83
WUHU COMMUNICATIONS INV 3.58 09/23/23 CNY 58.60
WUHU COUNTY CONSTRUCTIO 6.60 12/08/21 CNY 46.35
WUHU COUNTY CONSTRUCTIO 6.60 12/08/21 CNY 40.72
WUHU JINGHU CONSTRUCTIO 4.37 07/20/23 CNY 59.64
WUHU JINGHU CONSTRUCTIO 4.37 07/20/23 CNY 59.63
WUHU JIUJIANG CONSTRUCT 3.96 03/21/23 CNY 59.55
WUHU JIUJIANG CONSTRUCT 8.49 04/14/21 CNY 20.48
WUHU JIUJIANG CONSTRUCT 8.49 04/14/21 CNY 20.00
WUHU XINMA INVESTMENT C 4.87 11/04/22 CNY 60.36
WUHU XINMA INVESTMENT C 4.87 11/04/22 CNY 59.80
WUHU YIJU INVESTMENT GR 6.45 08/11/21 CNY 21.45
WUHU YIJU INVESTMENT GR 6.45 08/11/21 CNY 20.48
WUWEI CITY ECONOMY DEVE 8.20 12/09/20 CNY 20.40
WUWEI CITY ECONOMY DEVE 8.20 04/24/21 CNY 20.26
WUWEI CITY ECONOMY DEVE 8.20 04/24/21 CNY 20.10
WUWEI CITY ECONOMY DEVE 8.20 12/09/20 CNY 20.08
WUXI HUIKAI ECONOMIC DE 4.16 04/08/23 CNY 60.01
WUXI HUIKAI ECONOMIC DE 4.16 04/08/23 CNY 59.83
WUXI HUNING METRO HUISH 4.38 06/08/21 CNY 40.45
WUXI HUNING METRO HUISH 4.38 06/08/21 CNY 40.08
WUXI MUNICIPAL DEVELOPM 6.10 10/11/20 CNY 20.00
WUXI TAIHU NEW CITY DEV 4.49 05/03/23 CNY 60.70
WUXI TAIHU NEW CITY DEV 4.49 05/03/23 CNY 60.63
WUXI TAIHU NEW CITY DEV 3.47 08/29/23 CNY 59.50
WUXI TAIHU NEW CITY DEV 3.47 08/29/23 CNY 59.27
WUYANG CONSTRUCTION GRO 7.80 09/11/20 CNY 32.48
WUZHONG URBAN RURAL CON 7.18 10/12/20 CNY 20.01
WUZHONG URBAN RURAL CON 7.18 10/12/20 CNY 20.00
XIAMEN TORCH GROUP CO L 7.49 04/21/21 CNY 24.88
XIAMEN TORCH GROUP CO L 7.49 04/21/21 CNY 20.33
XIAN FENGDONG DEVELOPME 4.67 01/08/23 CNY 59.94
XIAN FENGDONG DEVELOPME 4.67 01/08/23 CNY 59.71
XI'AN INTERNATIONAL HOR 6.20 10/21/21 CNY 41.46
XI'AN INTERNATIONAL HOR 6.20 10/21/21 CNY 40.46
XI'AN INTERNATIONAL INL 7.90 09/23/21 CNY 22.28
XIANGSHUI GUANJIANG HOL 4.98 12/24/22 CNY 63.20
XIANGSHUI GUANJIANG HOL 4.98 12/24/22 CNY 60.52
XIANGTAN CITY CONSTRUCT 7.60 04/02/22 CNY 62.66
XIANGTAN CITY CONSTRUCT 7.80 01/30/22 CNY 62.42
XIANGTAN CITY CONSTRUCT 7.80 03/12/22 CNY 62.00
XIANGTAN CITY'S CONSTRU 3.60 08/04/23 CNY 58.87
XIANGTAN CITY'S CONSTRU 3.95 08/04/23 CNY 57.44
XIANGTAN CITY'S CONSTRU 3.95 08/04/23 CNY 56.78
XIANGTAN HI-TECH GROUP 8.16 02/25/21 CNY 28.99
XIANGTAN HI-TECH GROUP 8.16 02/25/21 CNY 20.12
XIANGTAN JIUHUA ECONOMI 5.00 07/25/26 CNY 62.63
XIANGTAN JIUHUA ECONOMI 6.59 01/21/22 CNY 39.12
XIANGTAN JIUHUA ECONOMI 7.15 10/15/20 CNY 19.99
XIANGTAN JIUHUA ECONOMI 7.15 10/15/20 CNY 19.95
XIANGTAN LIANGXING SOCI 7.89 04/23/21 CNY 20.16
XIANGTAN LIANGXING SOCI 7.89 04/23/21 CNY 20.10
XIANGTAN WANLOU XINCHEN 6.90 01/14/22 CNY 39.90
XIANGTAN WANLOU XINCHEN 6.90 01/14/22 CNY 35.49
XIANGXIANG ECONOMIC DIS 5.28 09/09/23 CNY 57.72
XIANGXIANG ECONOMIC DIS 5.28 09/09/23 CNY 57.30
XIANGXIANG URBAN CONSTR 5.84 05/18/23 CNY 60.61
XIANGXIANG URBAN CONSTR 5.84 05/18/23 CNY 59.72
XIANGYANG CITY XIANGZHO 5.18 04/28/23 CNY 60.77
XIANGYANG CITY XIANGZHO 5.18 04/28/23 CNY 60.65
XIANGYANG HIGH TECH STA 7.00 05/29/21 CNY 23.38
XIANGYANG HIGH TECH STA 7.00 05/29/21 CNY 20.35
XIANGYANG STATE-OWNED C 4.62 01/25/23 CNY 59.79
XIANGYANG STATE-OWNED C 4.62 01/25/23 CNY 59.78
XIANNING HIGH-TECH INVE 6.29 02/10/22 CNY 40.71
XIANNING HIGH-TECH INVE 6.29 02/10/22 CNY 40.56
XIANTAO CITY CONSTRUCTI 4.59 04/18/23 CNY 60.29
XIANTAO CITY CONSTRUCTI 4.59 04/18/23 CNY 59.73
XIANTAO CITY CONSTRUCTI 8.15 02/24/21 CNY 20.38
XIAOGAN GAOCHUANG INVES 7.43 06/23/21 CNY 32.72
XIAOGAN GAOCHUANG INVES 6.87 09/22/21 CNY 26.69
XIAOGAN GAOCHUANG INVES 6.87 09/22/21 CNY 20.22
XIAOGAN GAOCHUANG INVES 7.43 06/23/21 CNY 20.18
XIAOGAN URBAN CONSTRUCT 3.94 07/05/21 CNY 62.99
XIAOGAN URBAN CONSTRUCT 6.89 05/29/21 CNY 20.40
XIAOGAN URBAN CONSTRUCT 6.89 05/29/21 CNY 20.38
XIAOXIAN COUNTY DEVELOP 4.85 06/22/23 CNY 60.63
XIAOXIAN COUNTY DEVELOP 4.85 06/22/23 CNY 60.45
XINDONGGANG HOLDING GRO 5.53 04/27/23 CNY 60.54
XINDONGGANG HOLDING GRO 5.53 04/27/23 CNY 60.16
XINGAN COUNTY URBAN CON 5.48 08/03/23 CNY 57.92
XINGAN COUNTY URBAN CON 5.48 08/03/23 CNY 57.88
XINGAN LEAGUE URBAN DEV 6.18 12/21/22 CNY 42.59
XINGAN LEAGUE URBAN DEV 6.18 12/21/22 CNY 42.05
XINGHUA CITY ECONOMIC D 5.28 06/13/22 CNY 49.89
XINGHUA CITY ECONOMIC D 5.28 06/13/22 CNY 49.63
XINGYI XINHENG URBAN CO 5.40 12/16/22 CNY 60.00
XINGYI XINHENG URBAN CO 5.40 12/16/22 CNY 58.63
XINJIANG KAIDI INVESTME 7.80 04/22/21 CNY 21.35
XINJIANG KAIDI INVESTME 7.80 04/22/21 CNY 20.16
XINMI CAIYUAN CITY CONS 4.35 02/28/23 CNY 60.76
XINMI CAIYUAN CITY CONS 4.35 02/28/23 CNY 60.07
XINMIN CITY LUXIN MUNIC 6.41 07/29/21 CNY 13.94
XINMIN CITY LUXIN MUNIC 6.41 07/29/21 CNY 13.94
XINTAI CITY COORDINATIN 6.35 03/23/22 CNY 40.75
XINTAI CITY COORDINATIN 6.35 03/23/22 CNY 40.37
XINYANG HUAXIN INVESTME 7.55 04/15/21 CNY 26.30
XINYANG HUAXIN INVESTME 7.55 04/15/21 CNY 20.25
XINYI CITY INVESTMENT & 4.30 01/19/23 CNY 60.00
XINYI CITY INVESTMENT & 4.30 01/19/23 CNY 59.57
XINYI CITY INVESTMENT & 7.39 10/15/20 CNY 20.32
XINYI CITY INVESTMENT & 7.39 10/15/20 CNY 20.01
XINYI URBAN TRANSPORTAT 6.14 02/06/22 CNY 41.53
XINYI URBAN TRANSPORTAT 6.14 02/06/22 CNY 40.77
XINYU CHENGDONG CONSTRU 8.48 05/27/21 CNY 20.33
XINYU CITY SHANTYTOWN Z 6.42 12/09/20 CNY 40.05
XINYU CITY YUSHUI DISTR 7.70 06/24/22 CNY 41.56
XINYU CITY YUSHUI DISTR 7.70 06/24/22 CNY 41.39
XINZHENG NEW DISTRICT D 6.40 01/29/21 CNY 25.13
XINZHOU ASSET MANAGEMEN 7.90 02/21/21 CNY 21.07
XINZHOU ASSET MANAGEMEN 7.90 02/21/21 CNY 20.29
XINZHOU ASSET MANAGEMEN 8.50 12/18/20 CNY 20.17
XINZHOU ASSET MANAGEMEN 8.50 12/18/20 CNY 20.08
XIUSHAN INDUSTRY DEVELO 5.85 04/14/23 CNY 60.00
XIUSHAN INDUSTRY DEVELO 5.85 04/14/23 CNY 60.00
XIWANG GROUP CO LTD 7.80 12/03/22 CNY 49.94
XUANCHENG CITY ECONOMY 7.95 09/22/21 CNY 26.00
XUANCHENG CITY ECONOMY 7.95 09/22/21 CNY 20.76
XUANCHENG STATE-OWNED A 4.12 04/07/23 CNY 60.23
XUANCHENG STATE-OWNED A 4.12 04/07/23 CNY 60.23
XUANCHENG STATE-OWNED A 7.95 03/27/21 CNY 26.00
XUANCHENG STATE-OWNED A 7.95 03/27/21 CNY 20.32
XUZHOU BOCHANT DEVELOPM 5.69 07/28/21 CNY 33.05
XUZHOU CITY JIAWANG CON 4.00 03/23/23 CNY 59.64
XUZHOU CITY TONGSHAN DI 5.23 09/18/22 CNY 41.00
XUZHOU CITY TONGSHAN DI 5.23 09/18/22 CNY 40.58
XUZHOU ECONOMIC TECHNOL 7.35 04/21/21 CNY 20.36
XUZHOU ECONOMIC TECHNOL 7.35 04/21/21 CNY 20.32
XUZHOU HI-TECH INDUSTRI 7.86 04/22/21 CNY 31.50
XUZHOU HI-TECH INDUSTRI 7.86 04/22/21 CNY 20.45
XUZHOU TRANSPORTATION H 7.09 05/15/21 CNY 21.00
XUZHOU TRANSPORTATION H 7.09 05/15/21 CNY 20.40
XUZHOU XINSHENG INVESTM 5.13 08/12/22 CNY 44.46
XUZHOU XINSHENG INVESTM 5.13 08/12/22 CNY 40.86
YANCHENG CITY TINGHU DI 7.95 11/15/20 CNY 20.05
YANCHENG CITY TINGHU DI 7.95 11/15/20 CNY 18.30
YANCHENG DAFENG DISTRIC 8.70 01/24/21 CNY 20.97
YANCHENG DAFENG DISTRIC 8.50 12/30/20 CNY 20.60
YANCHENG DAFENG DISTRIC 8.70 01/24/21 CNY 20.24
YANCHENG DAFENG DISTRIC 8.50 12/30/20 CNY 20.18
YANCHENG HIGH-TECH ZONE 3.90 12/14/22 CNY 60.06
YANCHENG ORIENTAL INVES 6.48 09/15/21 CNY 20.29
YANCHENG SOUTH DISTRICT 6.70 07/30/21 CNY 20.40
YANCHENG SOUTH DISTRICT 6.70 07/30/21 CNY 20.39
YANCHENG YANDU DISTRICT 3.67 03/17/23 CNY 59.47
YANCHENG YANDU DISTRICT 3.67 03/17/23 CNY 59.46
YANGJIANG HENGCAI CITY 6.24 04/14/22 CNY 41.20
YANGJIANG HENGCAI CITY 6.24 04/14/22 CNY 41.04
YANGZHONG TRANSPORTATIO 4.98 04/07/23 CNY 60.62
YANGZHONG TRANSPORTATIO 4.98 04/07/23 CNY 60.32
YANGZHONG TRANSPORTATIO 4.95 04/07/23 CNY 60.11
YANGZHONG TRANSPORTATIO 4.95 04/07/23 CNY 59.69
YANGZHOU CHEMICAL INDUS 8.58 01/24/21 CNY 26.00
YANGZHOU CHEMICAL INDUS 8.58 01/24/21 CNY 20.15
YANGZHOU ECONOMIC & TEC 7.40 03/05/21 CNY 40.63
YANGZHOU ECONOMIC & TEC 7.40 03/05/21 CNY 40.00
YANGZHOU GUANGLING NEW 3.62 09/07/23 CNY 58.00
YANGZHOU GUANGLING NEW 3.62 09/07/23 CNY 55.99
YANGZHOU HANJIANG CONST 5.88 06/15/22 CNY 46.63
YANGZHOU HANJIANG CONST 5.88 06/15/22 CNY 40.94
YI CHENG CONSTRUCTION I 5.44 04/27/23 CNY 60.07
YI ZHENG CITY DEVELOPME 4.63 01/08/23 CNY 60.07
YI ZHENG CITY DEVELOPME 4.63 01/08/23 CNY 60.00
YI ZHENG CITY DEVELOPME 8.60 01/09/21 CNY 29.30
YI ZHENG CITY DEVELOPME 8.60 01/09/21 CNY 20.14
YICHANG HIGH-TECH INVES 4.80 12/15/22 CNY 60.40
YICHANG HIGH-TECH INVES 4.80 12/15/22 CNY 60.00
YICHANG HIGH-TECH INVES 3.74 07/21/23 CNY 59.74
YICHANG HIGH-TECH INVES 3.74 07/21/23 CNY 58.85
YICHUN URBAN CONSTRUCTI 7.09 05/15/21 CNY 23.47
YICHUN URBAN CONSTRUCTI 7.09 05/15/21 CNY 20.40
YICHUN VENTURE CAPITAL 6.70 03/23/22 CNY 40.79
YICHUN VENTURE CAPITAL 6.70 03/23/22 CNY 40.61
YIHUA ENTERPRISE GROUP 7.00 04/29/22 CNY 54.00
YIHUA ENTERPRISE GROUP 6.80 03/15/21 CNY 47.99
YIHUA ENTERPRISE GROUP 5.99 11/26/20 CNY 30.00
YIHUA LIFESTYLE TECHNOL 6.88 07/16/20 CNY 35.90
YIHUA LIFESTYLE TECHNOL 6.88 07/23/20 CNY 35.00
YILI KAZAKH AUTONOMOUS 7.68 02/28/21 CNY 20.75
YILI KAZAKH AUTONOMOUS 7.68 02/28/21 CNY 20.31
YINCHUAN URBAN CONSTRUC 6.88 05/12/21 CNY 20.25
YINGKOU COASTAL DEVELOP 6.45 01/26/22 CNY 40.29
YINGKOU COASTAL DEVELOP 6.45 01/26/22 CNY 39.03
YINGKOU ECO & TECH DEVE 5.20 08/05/23 CNY 59.38
YINGKOU ECO & TECH DEVE 5.20 08/05/23 CNY 58.06
YINGKOU LAOBIAN CITY CO 4.98 03/11/23 CNY 60.00
YINGKOU LAOBIAN CITY CO 5.63 12/16/22 CNY 60.00
YINGKOU LAOBIAN CITY CO 4.98 03/11/23 CNY 58.90
YINGTAN LONGGANG ASSET 6.75 07/31/22 CNY 41.18
YINGTAN LONGGANG ASSET 6.75 07/31/22 CNY 40.20
YINGTAN STATE-OWNED ASS 7.50 12/12/22 CNY 46.58
YINGTAN STATE-OWNED ASS 7.50 12/12/22 CNY 46.56
YINGTAN STATE-OWNED ASS 3.63 08/12/21 CNY 39.98
YINING CITY STATE OWNED 5.37 09/24/22 CNY 39.31
YINING CITY STATE OWNED 8.90 01/23/21 CNY 29.95
YINING CITY STATE OWNED 8.90 01/23/21 CNY 20.26
YIWU CITY CONSTRUCTION 4.31 12/07/22 CNY 60.40
YIWU CITY CONSTRUCTION 4.31 12/07/22 CNY 60.27
YIWU URBAN & RURAL NEW 4.25 11/24/21 CNY 49.84
YIXING CITY CONSTRUCTIO 6.16 03/30/22 CNY 40.87
YIXING CITY CONSTRUCTIO 6.16 03/30/22 CNY 40.00
YIXING TUOYE INDUSTRIAL 7.60 05/28/21 CNY 23.50
YIXING TUOYE INDUSTRIAL 7.60 05/28/21 CNY 20.28
YIYANG ADVANCED INDUSTR 7.00 03/30/22 CNY 48.00
YIYANG ADVANCED INDUSTR 7.00 03/30/22 CNY 40.63
YIZHANG XINGYI CONSTRUC 5.49 09/02/24 CNY 69.26
YIZHANG XINGYI CONSTRUC 5.49 09/02/24 CNY 67.96
YONG ZHOU CITY CONSTRUC 7.30 10/23/20 CNY 20.03
YONGJIA INVESTMENT GROU 6.50 11/12/21 CNY 40.59
YONGJIA INVESTMENT GROU 6.50 11/12/21 CNY 40.00
YONGXING YINDU CONSTRUC 5.60 03/24/23 CNY 60.56
YONGXING YINDU CONSTRUC 5.60 03/24/23 CNY 60.56
YONGZHOU ECONOMIC CONST 3.55 01/14/23 CNY 60.50
YONGZHOU ECONOMIC CONST 3.55 01/14/23 CNY 59.43
YUANAN COUNTY QIFENG CI 5.50 05/27/23 CNY 60.56
YUANAN COUNTY QIFENG CI 5.50 05/27/23 CNY 60.02
YUEYANG CITY DONGTING N 6.15 03/20/22 CNY 40.15
YUEYANG CITY DONGTING N 6.15 03/20/22 CNY 40.06
YUEYANG HUILIN INVESTME 5.50 11/03/21 CNY 40.06
YUEYANG HUILIN INVESTME 5.50 11/03/21 CNY 40.00
YUEYANG YUNXI CITY CONS 6.00 07/08/23 CNY 60.10
YUEYANG YUNXI CITY CONS 6.00 07/08/23 CNY 58.99
YUHUAN CITY COMMUNICATI 5.65 11/03/21 CNY 44.50
YUHUAN CITY COMMUNICATI 6.18 03/20/22 CNY 44.47
YUHUAN CITY COMMUNICATI 5.65 11/03/21 CNY 40.40
YUHUAN CITY COMMUNICATI 6.18 03/20/22 CNY 40.37
YUHUAN CITY CONSTRUCTIO 5.10 05/03/23 CNY 61.01
YUHUAN CITY CONSTRUCTIO 5.10 05/03/23 CNY 60.23
YUNNAN METROPOLITAN CON 6.77 05/23/21 CNY 20.35
YUNNAN METROPOLITAN CON 6.77 05/23/21 CNY 19.80
YUYAO CITY CONSTRUCTION 7.09 05/19/21 CNY 20.46
YUZHOU GENERAL INVESTME 4.68 01/19/23 CNY 60.17
YUZHOU GENERAL INVESTME 4.68 01/19/23 CNY 60.00
ZAOYANG CITY CONSTRUCTI 5.50 03/22/23 CNY 60.58
ZAOYANG CITY CONSTRUCTI 5.50 03/22/23 CNY 60.13
ZHANGJIAGANG JINCHENG I 6.88 04/28/21 CNY 20.30
ZHANGJIAGANG JINCHENG I 6.88 04/28/21 CNY 20.30
ZHANGJIAJIE ECONOMIC DE 7.80 04/17/21 CNY 20.32
ZHANGQIU STATE OWNED AS 3.69 08/09/23 CNY 59.59
ZHANGQIU STATE OWNED AS 3.69 08/09/23 CNY 58.47
ZHANGSHU STATE-OWNED AS 4.80 06/22/23 CNY 62.67
ZHANGSHU STATE-OWNED AS 4.80 06/22/23 CNY 59.98
ZHANGYE CITY INVESTMENT 6.92 09/22/21 CNY 20.90
ZHANGYE CITY INVESTMENT 6.92 09/22/21 CNY 20.48
ZHANGZHOU ECONOMIC DEVE 6.17 04/27/22 CNY 40.80
ZHANGZHOU ECONOMIC DEVE 6.17 04/27/22 CNY 40.50
ZHANGZHOU JIULONGJIANG 6.48 06/20/21 CNY 20.43
ZHANGZHOU JIULONGJIANG 6.48 06/20/21 CNY 20.30
ZHANJIANG INFRASTRUCTUR 6.93 10/21/20 CNY 20.10
ZHANJIANG INFRASTRUCTUR 6.93 10/21/20 CNY 20.01
ZHAOQING GAOYAO DISTRIC 6.68 04/14/22 CNY 40.79
ZHAOQING GAOYAO DISTRIC 6.68 04/14/22 CNY 40.00
ZHAOQING HI-TECH ZONE C 3.97 08/26/23 CNY 59.71
ZHAOQING HI-TECH ZONE C 3.97 08/26/23 CNY 58.99
ZHEJIANG BINHAI NEW CIT 4.65 12/23/22 CNY 60.46
ZHEJIANG CHANGXING JING 7.99 03/03/21 CNY 30.00
ZHEJIANG CHANGXING JING 7.99 03/03/21 CNY 20.15
ZHEJIANG GUOXING INVEST 6.94 08/01/21 CNY 28.50
ZHEJIANG GUOXING INVEST 6.94 08/01/21 CNY 20.48
ZHEJIANG HANGZHOU QINGS 7.90 04/23/21 CNY 24.00
ZHEJIANG HANGZHOU QINGS 7.90 04/23/21 CNY 20.39
ZHEJIANG HUISHENG INVES 4.49 03/15/24 CNY 70.24
ZHEJIANG HUISHENG INVES 4.49 03/15/24 CNY 70.00
ZHEJIANG OUHAI CONSTRUC 4.83 01/21/23 CNY 60.42
ZHEJIANG OUHAI CONSTRUC 6.45 04/23/22 CNY 41.05
ZHEJIANG OUHAI CONSTRUC 6.45 04/23/22 CNY 40.30
ZHEJIANG PROVINCE XINCH 6.95 12/31/21 CNY 41.20
ZHEJIANG PROVINCE XINCH 5.88 10/30/21 CNY 41.06
ZHEJIANG PROVINCE XINCH 6.95 12/31/21 CNY 40.91
ZHEJIANG PROVINCE XINCH 5.88 10/30/21 CNY 40.47
ZHENGZHOU AIRPORT ECONO 4.27 07/20/26 CNY 70.19
ZHENGZHOU AIRPORT ECONO 4.27 07/20/26 CNY 70.19
ZHENGZHOU JINGKAI INVES 5.48 07/31/22 CNY 40.95
ZHENGZHOU JINGKAI INVES 5.48 07/31/22 CNY 40.00
ZHENGZHOU MOUZHONG DEVE 4.59 04/18/23 CNY 60.49
ZHENGZHOU MOUZHONG DEVE 4.59 04/18/23 CNY 60.42
ZHENGZHOU MOUZHONG DEVE 7.48 12/11/21 CNY 46.20
ZHENGZHOU MOUZHONG DEVE 7.48 12/11/21 CNY 40.69
ZHENJIANG CITY CONSTRUC 7.90 12/18/20 CNY 28.50
ZHENJIANG CITY CONSTRUC 8.20 01/13/21 CNY 28.49
ZHENJIANG CITY CONSTRUC 8.20 01/13/21 CNY 20.21
ZHENJIANG CITY CONSTRUC 7.90 12/18/20 CNY 20.14
ZHENJIANG DANTU DISTRIC 5.89 11/03/21 CNY 40.14
ZHENJIANG DANTU DISTRIC 5.89 11/03/21 CNY 39.60
ZHENJIANG NEW AREA URBA 5.31 07/14/23 CNY 60.50
ZHENJIANG NEW AREA URBA 5.31 07/14/23 CNY 59.47
ZHENJIANG NEW AREA URBA 8.35 02/26/21 CNY 20.18
ZHENJIANG NEW AREA URBA 8.99 01/16/21 CNY 20.12
ZHIJIANG STATE-OWNED AS 4.38 03/28/23 CNY 64.70
ZHIJIANG STATE-OWNED AS 4.78 01/11/23 CNY 60.05
ZHIJIANG STATE-OWNED AS 4.38 03/28/23 CNY 60.00
ZHIJIANG STATE-OWNED AS 4.78 01/11/23 CNY 60.00
ZHONGGUANCUN DEVELOPMEN 4.20 08/12/22 CNY 40.50
ZHONGGUANCUN DEVELOPMEN 4.20 08/12/22 CNY 40.17
ZHONGMINTOU LEASING HOL 7.55 09/21/21 CNY 49.49
ZHONGRONG XINDA GROUP C 7.10 01/22/21 CNY 33.70
ZHONGSHAN TRANSPORTATIO 5.25 11/26/21 CNY 40.33
ZHONGSHAN TRANSPORTATIO 5.25 11/26/21 CNY 40.00
ZHONGTIAN FINANCIAL GRO 7.00 10/15/20 CNY 24.91
ZHOUKOU INVESTMENT GROU 7.49 04/21/21 CNY 20.16
ZHOUSHAN DINGHAI CITY C 6.67 07/20/22 CNY 40.40
ZHOUSHAN DINGHAI STATE- 7.13 08/04/21 CNY 20.33
ZHOUSHAN DINGHAI STATE- 7.13 08/04/21 CNY 20.18
ZHOUSHAN ISLANDS NEW DI 6.98 10/22/22 CNY 56.33
ZHOUSHAN ISLANDS NEW DI 6.98 10/22/22 CNY 55.80
ZHOUSHAN PUTUO DISTRICT 7.18 06/20/22 CNY 41.90
ZHOUSHAN PUTUO DISTRICT 7.18 06/20/22 CNY 41.29
ZHUHAI HUIHUA INFRASTRU 4.70 06/27/23 CNY 60.38
ZHUHAI HUIHUA INFRASTRU 4.70 06/27/23 CNY 60.32
ZHUJI CITY EAST NEW TOW 3.89 08/26/23 CNY 59.79
ZHUJI CITY YUEDU INVEST 6.38 04/07/22 CNY 41.01
ZHUJI CITY YUEDU INVEST 6.38 04/07/22 CNY 40.95
ZHUJI CITY YUEDU INVEST 8.20 12/12/20 CNY 24.50
ZHUJI CITY YUEDU INVEST 8.20 12/12/20 CNY 20.20
ZHUZHOU CITY CONSTRUCTI 8.36 11/10/21 CNY 43.75
ZHUZHOU CITY CONSTRUCTI 6.95 10/16/20 CNY 20.04
ZHUZHOU CITY CONSTRUCTI 6.95 10/16/20 CNY 20.03
ZHUZHOU GECKOR GROUP CO 3.78 09/28/23 CNY 59.09
ZHUZHOU GECKOR GROUP CO 3.78 09/28/23 CNY 58.81
ZHUZHOU GECKOR GROUP CO 6.38 04/17/22 CNY 40.80
ZHUZHOU GECKOR GROUP CO 6.38 04/17/22 CNY 40.00
ZHUZHOU GECKOR GROUP CO 6.95 08/11/21 CNY 20.86
ZHUZHOU GECKOR GROUP CO 6.95 08/11/21 CNY 20.35
ZHUZHOU RECYCLING ECONO 4.38 03/24/23 CNY 57.68
ZHUZHOU RECYCLING ECONO 4.38 03/24/23 CNY 57.04
ZHUZHOU XIANGJIANG SCEN 5.39 11/25/22 CNY 60.72
ZHUZHOU XIANGJIANG SCEN 5.39 11/25/22 CNY 60.24
ZIBO BANYANG CITY URBAN 5.50 09/09/22 CNY 41.03
ZIBO BANYANG CITY URBAN 5.50 09/09/22 CNY 40.00
ZIYANG WATER INVESTMENT 3.97 03/17/23 CNY 58.30
ZIYANG WATER INVESTMENT 3.97 03/17/23 CNY 58.29
ZIYANG WATER INVESTMENT 7.40 10/21/20 CNY 20.01
ZIYANG WATER INVESTMENT 7.40 10/21/20 CNY 20.00
ZIZHONG COUNTY XINGZI I 5.97 01/18/23 CNY 59.68
ZIZHONG COUNTY XINGZI I 5.97 01/18/23 CNY 58.59
ZUNYI ECONOMIC DEVELOPM 4.87 01/22/23 CNY 60.00
ZUNYI ECONOMIC DEVELOPM 4.87 01/22/23 CNY 57.87
ZUNYI HONGHUAGANG CITY 6.98 07/25/24 CNY 74.90
ZUNYI HONGHUAGANG CITY 5.05 06/27/23 CNY 59.06
ZUNYI HONGHUAGANG CITY 5.05 06/27/23 CNY 57.87
ZUNYI NEW DISTRICT DEVE 5.99 04/07/26 CNY 69.89
ZUNYI NEW DISTRICT DEVE 5.99 04/07/26 CNY 69.62
ZUNYI ROAD & BRIDGE CON 6.10 04/27/23 CNY 57.96
ZUNYI ROAD & BRIDGE CON 6.10 04/27/23 CNY 52.90
HONG KONG
---------
DR PENG HOLDING HONGKON 7.55 12/01/21 USD 71.55
HNA GROUP INTERNATIONAL 6.25 10/05/21 USD 54.33
INDIA
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3I INFOTECH LTD 2.50 03/31/25 USD 9.75
AMPSOLAR SOLUTION PVT L 0.01 10/27/37 INR 26.92
AMPSOLAR SOLUTION PVT L 0.01 11/03/37 INR 26.88
APG HABITAT PVT LTD 1.00 09/09/28 INR 60.52
APG INTELLI HOMES PVT L 1.25 02/04/35 INR 44.36
APG INTELLI HOMES PVT L 1.25 02/04/35 INR 42.26
AUTOMOTIVE EXCHANGE PVT 4.00 06/01/30 INR 63.09
AUTOMOTIVE EXCHANGE PVT 4.00 10/11/30 INR 62.85
BREEZE CONSTRUCTIONS PV 0.01 06/29/30 INR 44.46
BRITANNIA INDUSTRIES LT 8.00 08/28/22 INR 31.16
CHANDRAJYOTI ESTATE DEV 0.01 07/06/30 INR 47.08
CREIXENT SPECIAL STEELS 0.01 08/28/25 INR 68.72
CUMULUS TRADING CO PVT 0.01 01/23/30 INR 62.29
CUMULUS TRADING CO PVT 0.01 05/21/32 INR 39.17
DEWAN HOUSING FINANCE C 8.50 04/18/23 INR 28.36
DLF EMPORIO RESTAURANTS 0.01 06/29/30 INR 46.44
DLF EMPORIO RESTAURANTS 0.01 08/12/30 INR 45.99
DLF HOME DEVELOPERS LTD 0.01 06/29/30 INR 48.53
DLF HOMES SERVICES PVT 0.01 06/29/30 INR 44.46
DLF REAL ESTATE BUILDER 0.01 06/23/30 INR 47.05
DLF RESIDENTIAL BUILDER 0.01 06/23/30 INR 44.47
DLF RESIDENTIAL DEVELOP 0.01 06/28/30 INR 47.09
DLF SOUTHERN TOWNS PVT 0.01 07/09/30 INR 47.16
DOMUS REAL ESTATE PVT L 0.01 07/11/30 INR 47.15
EDELWEISS ASSET RECONST 2.00 03/28/27 INR 71.85
EDELWEISS ASSET RECONST 2.00 11/20/27 INR 69.50
EDELWEISS ASSET RECONST 2.00 10/07/28 INR 66.12
EDELWEISS ASSET RECONST 2.00 01/15/29 INR 65.13
EDELWEISS ASSET RECONST 2.00 07/22/29 INR 63.32
ESSAR POWER TRANSMISSIO 3.00 03/31/43 INR 48.35
ESSAR POWER TRANSMISSIO 3.00 03/31/43 INR 48.35
GREEN URJA PVT LTD 0.01 02/14/30 INR 48.36
GTL INFRASTRUCTURE LTD 6.73 10/26/22 USD 5.65
HINDUSTAN CONSTRUCTION 0.01 01/05/27 INR 61.32
HITODI INFRASTRUCTURE L 0.01 06/30/27 INR 57.46
JAIPRAKASH ASSOCIATES L 5.75 09/08/17 USD 55.13
JAIPRAKASH POWER VENTUR 7.00 05/15/17 USD 4.56
JCT LTD 2.50 04/08/11 USD 25.75
JSM CORP PVT LTD 0.01 08/31/36 INR 28.72
JTPM ATSALI LTD 0.01 08/29/48 INR 13.66
KANAKADURGA FINANCE LTD 0.01 04/15/36 INR 27.46
KRIBHCO INFRASTRUCTURE 1.00 04/15/26 INR 71.43
MARIS POWER SUPPLY CO P 2.00 04/18/28 INR 68.47
MELOSA BUILDERS & DEVEL 0.01 06/29/30 INR 45.46
MENS BUILDCON PVT LTD 0.01 06/29/30 INR 45.46
MYTRAH AADHYA POWER PVT 0.01 07/05/35 INR 32.04
MYTRAH ADVAITH POWER PV 0.01 07/13/36 INR 29.72
MYTRAH AKSHAYA ENERGY P 0.01 07/13/36 INR 29.72
ORIGAMI CELLULO PVT LTD 0.01 11/14/36 INR 28.40
PRAKASH INDUSTRIES LTD 5.25 04/30/15 USD 22.63
PUNJAB INFRASTRUCTURE D 0.40 10/15/26 INR 70.75
PUNJAB INFRASTRUCTURE D 0.40 10/15/27 INR 65.95
PUNJAB INFRASTRUCTURE D 0.40 10/15/28 INR 61.43
PUNJAB INFRASTRUCTURE D 0.40 10/15/29 INR 57.24
PUNJAB INFRASTRUCTURE D 0.40 10/15/30 INR 53.39
PUNJAB INFRASTRUCTURE D 0.40 10/15/31 INR 49.88
PUNJAB INFRASTRUCTURE D 0.40 10/15/32 INR 46.69
PUNJAB INFRASTRUCTURE D 0.40 10/15/33 INR 43.97
PYRAMID SAIMIRA THEATRE 1.75 07/04/12 USD 0.26
R L FINE CHEM PVT LTD 0.10 08/19/36 INR 29.26
REDKITE CAPITAL PVT LTD 2.50 01/15/28 INR 71.74
REDKITE CAPITAL PVT LTD 2.50 03/30/29 INR 67.63
REI AGRO LTD 5.50 11/13/14 USD 0.96
REI AGRO LTD 5.50 11/13/14 USD 0.96
RELIANCE COMMUNICATIONS 6.50 11/06/20 USD 9.95
SAKET HOLIDAYS RESORTS 0.01 06/29/30 INR 47.10
SHIVAJI MARG MAINTENANC 0.01 06/28/30 INR 44.93
SINTEX INDUSTRIES LTD 3.50 05/25/22 USD 25.00
SURBHI INVESTMENTS & TR 2.50 10/21/28 INR 68.93
SUZLON ENERGY LTD 5.75 07/16/19 USD 24.85
SUZLON ENERGY LTD 5.75 07/16/19 USD 24.85
SVOGL OIL GAS & ENERGY 5.00 08/17/15 USD 0.61
TATA SMARTFOODZ LTD 0.01 07/15/25 INR 71.05
TN URJA PVT LTD 0.10 02/22/36 INR 31.21
VIDEOCON INDUSTRIES LTD 2.80 12/31/20 USD 28.88
WATSUN INFRABUILD PVT L 4.00 10/16/37 INR 60.47
WS T&D LTD 0.10 03/24/29 INR 52.48
ZYDUS FOUNDATION 0.10 03/25/25 INR 72.11
INDONESIA
---------
ABM INVESTAMA TBK PT 7.13 08/01/22 USD 63.34
ABM INVESTAMA TBK PT 7.13 08/01/22 USD 62.64
BERAU COAL ENERGY TBK P 7.25 03/13/17 USD 44.38
BERAU COAL ENERGY TBK P 7.25 03/13/17 USD 44.38
DELTA MERLIN DUNIA TEKS 8.63 03/12/24 USD 10.20
DELTA MERLIN DUNIA TEKS 8.63 03/12/24 USD 6.86
GAJAH TUNGGAL TBK PT 8.38 08/10/22 USD 68.28
MNC INVESTAMA TBK PT 9.00 05/11/21 USD 68.42
JAPAN
-----
AVANSTRATE INC 0.10 10/29/32 JPY 9.75
TKJP CORP 0.58 03/26/21 JPY 2.02
TKJP CORP 0.85 03/06/19 JPY 2.02
TKJP CORP 1.02 12/15/17 JPY 0.50
UNIZO HOLDINGS CO LTD 0.85 05/26/23 JPY 74.87
UNIZO HOLDINGS CO LTD 0.80 11/29/23 JPY 71.76
UNIZO HOLDINGS CO LTD 0.89 05/29/24 JPY 69.44
UNIZO HOLDINGS CO LTD 1.10 11/28/24 JPY 67.42
UNIZO HOLDINGS CO LTD 0.99 11/27/26 JPY 63.00
UNIZO HOLDINGS CO LTD 1.50 11/26/27 JPY 61.88
UNIZO HOLDINGS CO LTD 1.20 05/28/27 JPY 61.48
MALAYSIA
--------
ASIAN PAC HOLDINGS BHD 3.00 05/25/22 MYR 0.53
BERJAYA CORP BHD 5.00 04/22/22 MYR 0.26
BERJAYA CORP BHD 2.00 05/29/26 MYR 0.11
ELK-DESA RESOURCES BHD 3.25 04/14/22 MYR 1.14
HIAP TECK VENTURE BHD 5.00 06/23/21 MYR 0.18
HUME INDUSTRIES BHD 5.00 05/29/24 MYR 1.01
MALAYAN FLOUR MILLS BHD 5.00 01/24/24 MYR 1.11
PENGURUSAN AIR SPV BHD 1.00 09/28/35 MYR 69.10
PMB TECHNOLOGY BHD 3.00 07/12/23 MYR 2.56
SENAI-DESARU EXPRESSWAY 1.35 12/31/30 MYR 74.02
SENAI-DESARU EXPRESSWAY 1.35 06/30/31 MYR 72.72
VIZIONE HOLDINGS BHD 3.00 08/08/21 MYR 0.03
NEW ZEALAND
-----------
PRECINCT PROPERTIES NEW 4.80 09/27/21 NZD 1.14
PHILIPPINES
-----------
BAYAN TELECOMMUNICATION 15.00 07/15/06 USD 22.75
SINGAPORE
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ALAM SYNERGY PTE LTD 11.50 04/22/21 USD 72.50
ALAM SYNERGY PTE LTD 6.63 04/24/22 USD 58.39
APL REALTY HOLDINGS PTE 5.95 06/02/24 USD 68.39
ASL MARINE HOLDINGS LTD 3.00 03/28/25 SGD 46.25
ASL MARINE HOLDINGS LTD 3.00 10/01/26 SGD 46.25
BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 0.63
BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 0.63
BERAU CAPITAL RESOURCES 12.50 07/08/15 USD 32.01
BERAU CAPITAL RESOURCES 12.50 07/08/15 USD 32.01
BLD INVESTMENTS PTE LTD 8.63 03/23/15 USD 4.88
BLUE OCEAN RESOURCES PT 8.00 12/31/21 USD 30.06
BLUE OCEAN RESOURCES PT 8.00 12/31/21 USD 30.06
BLUE OCEAN RESOURCES PT 8.00 12/31/21 USD 30.06
ENERCOAL RESOURCES PTE 9.25 08/05/14 USD 45.75
ETERNA CAPITAL PTE LTD 7.50 12/11/22 USD 43.48
ETERNA CAPITAL PTE LTD 8.00 12/11/22 USD 22.86
EZRA HOLDINGS LTD 4.88 04/24/18 SGD 5.00
GEO COAL INTERNATIONAL 8.00 10/04/22 USD 44.01
GEO COAL INTERNATIONAL 8.00 10/04/22 USD 43.86
HYFLUX LTD 4.60 09/23/19 SGD 10.00
HYFLUX LTD 4.20 08/29/19 SGD 10.00
HYFLUX LTD 4.25 09/07/18 SGD 10.00
INDO INFRASTRUCTURE GRO 2.00 07/30/10 USD 1.00
INNOVATE CAPITAL PTE LT 6.00 12/11/24 USD 18.00
JGC VENTURES PTE LTD 10.75 08/30/21 USD 38.00
MICLYN EXPRESS OFFSHORE 8.75 11/25/18 USD 24.16
MODERNLAND OVERSEAS PTE 6.95 04/13/24 USD 40.09
MULHACEN PTE LTD 6.50 08/01/23 EUR 46.06
MULHACEN PTE LTD 6.50 08/01/23 EUR 45.58
NT RIG HOLDCO PTE LTD 7.50 12/20/21 USD 60.00
ORO NEGRO DRILLING PTE 7.50 01/24/19 USD 14.50
OXLEY MTN PTE LTD 6.50 02/28/23 SGD 74.15
PACIFIC INTERNATIONAL L 8.50 11/16/20 SGD 48.20
PACIFIC RADIANCE LTD 4.30 03/31/20 SGD 10.00
RICKMERS MARITIME 8.45 05/15/17 SGD 5.00
SOECHI CAPITAL PTE LTD 8.38 01/31/23 USD 62.03
SOECHI CAPITAL PTE LTD 8.38 01/31/23 USD 60.56
SSMS PLANTATION HOLDING 7.75 01/23/23 USD 56.72
SWIBER CAPITAL PTE LTD 6.50 08/02/18 SGD 4.20
SWIBER CAPITAL PTE LTD 6.25 10/30/17 SGD 4.20
SWIBER HOLDINGS LTD 5.55 10/10/16 SGD 12.25
SWIBER HOLDINGS LTD 7.75 09/18/17 CNY 7.75
SWIBER HOLDINGS LTD 7.13 04/18/17 SGD 7.75
SOUTH KOREA
-----------
ECOMAISTER CO LTD 2.00 10/11/22 KRW 66.73
HEUNGKUK FIRE & MARINE 5.70 12/29/46 KRW 45.55
JT CAPITAL FIRST ASSET 2.73 07/24/45 KRW 68.23
KIBO ABS SPECIALTY CO L 5.00 08/28/21 KRW 73.06
KIBO ABS SPECIALTY CO L 5.00 02/24/22 KRW 72.34
KIBO ABS SPECIALTY CO L 5.00 02/28/22 KRW 71.50
KIBO ABS SPECIALTY CO L 5.00 02/24/23 KRW 70.24
KIBO ABS SPECIALTY CO L 5.00 02/26/21 KRW 64.62
LOTTE CARD CO LTD 3.95 06/28/49 KRW 37.37
POSCO ENERGY CO LTD 5.21 08/29/43 KRW 61.02
SAMPYO CEMENT CO LTD 8.10 06/26/15 KRW 70.00
SAMPYO CEMENT CO LTD 8.10 04/12/15 KRW 70.00
SAMPYO CEMENT CO LTD 8.30 09/10/14 KRW 70.00
SAMPYO CEMENT CO LTD 7.50 07/20/14 KRW 70.00
SAMPYO CEMENT CO LTD 8.30 04/20/14 KRW 70.00
SINBO SECURITIZATION SP 5.00 09/28/22 KRW 73.84
SINBO SECURITIZATION SP 5.00 06/29/22 KRW 73.76
SINBO SECURITIZATION SP 5.00 06/29/21 KRW 73.27
SINBO SECURITIZATION SP 5.00 12/27/21 KRW 72.18
SINBO SECURITIZATION SP 5.00 02/28/23 KRW 71.88
SINBO SECURITIZATION SP 5.00 03/20/23 KRW 71.73
SINBO SECURITIZATION SP 5.00 02/28/22 KRW 71.49
SINBO SECURITIZATION SP 5.00 12/25/23 KRW 69.69
SINBO SECURITIZATION SP 5.00 12/25/22 KRW 69.25
SINBO SECURITIZATION SP 5.00 10/24/23 KRW 69.23
SINBO SECURITIZATION SP 5.00 10/24/23 KRW 69.23
SINBO SECURITIZATION SP 5.00 11/21/23 KRW 69.10
SINBO SECURITIZATION SP 5.00 07/24/23 KRW 68.90
SINBO SECURITIZATION SP 5.00 08/29/23 KRW 68.47
SINBO SECURITIZATION SP 5.00 08/29/23 KRW 68.47
SINBO SECURITIZATION SP 5.00 09/26/23 KRW 68.16
SINBO SECURITIZATION SP 5.00 09/26/23 KRW 68.16
SINBO SECURITIZATION SP 5.00 09/26/23 KRW 68.16
SINBO SECURITIZATION SP 5.00 01/25/23 KRW 68.14
SINBO SECURITIZATION SP 5.00 06/27/23 KRW 67.98
SINBO SECURITIZATION SP 5.00 12/21/20 KRW 67.95
SINBO SECURITIZATION SP 5.00 07/24/22 KRW 66.71
SINBO SECURITIZATION SP 5.00 07/26/22 KRW 66.68
SINBO SECURITIZATION SP 4.00 12/25/23 KRW 66.62
SINBO SECURITIZATION SP 4.00 12/25/23 KRW 66.62
SINBO SECURITIZATION SP 5.00 08/29/22 KRW 66.22
SINBO SECURITIZATION SP 5.00 08/31/22 KRW 66.21
SINBO SECURITIZATION SP 5.00 09/26/22 KRW 65.90
SINBO SECURITIZATION SP 5.00 01/25/22 KRW 65.87
SINBO SECURITIZATION SP 5.00 01/26/22 KRW 65.87
SINBO SECURITIZATION SP 5.00 06/27/22 KRW 65.84
SINBO SECURITIZATION SP 5.00 02/23/22 KRW 65.74
SINBO SECURITIZATION SP 3.00 11/21/23 KRW 64.44
SINBO SECURITIZATION SP 5.00 03/21/21 KRW 63.99
SINBO SECURITIZATION SP 5.00 07/26/21 KRW 62.83
SINBO SECURITIZATION SP 5.00 08/31/21 KRW 62.06
SRI LANKA
---------
SRI LANKA DEVELOPMENT B 5.66 05/01/23 USD 74.48
SRI LANKA DEVELOPMENT B 4.48 01/22/23 USD 74.10
SRI LANKA DEVELOPMENT B 4.29 01/22/23 USD 73.75
SRI LANKA DEVELOPMENT B 4.27 03/16/23 USD 72.67
SRI LANKA DEVELOPMENT B 4.17 05/01/23 USD 71.91
SRI LANKA DEVELOPMENT B 4.13 05/01/23 USD 71.83
SRI LANKA DEVELOPMENT B 6.87 01/22/25 USD 70.93
SRI LANKA DEVELOPMENT B 6.80 01/22/25 USD 70.73
SRI LANKA DEVELOPMENT B 6.75 01/22/25 USD 70.58
SRI LANKA DEVELOPMENT B 6.50 01/22/25 USD 69.85
SRI LANKA DEVELOPMENT B 6.02 01/22/25 USD 68.44
SRI LANKA DEVELOPMENT B 5.98 01/22/25 USD 68.32
SRI LANKA DEVELOPMENT B 4.91 01/22/25 USD 65.35
SRI LANKA GOVERNMENT IN 5.75 04/18/23 USD 73.10
SRI LANKA GOVERNMENT IN 5.75 04/18/23 USD 72.81
SRI LANKA GOVERNMENT IN 6.85 03/14/24 USD 72.12
SRI LANKA GOVERNMENT IN 6.85 03/14/24 USD 71.96
SRI LANKA GOVERNMENT IN 6.35 06/28/24 USD 71.35
SRI LANKA GOVERNMENT IN 6.35 06/28/24 USD 71.30
SRI LANKA GOVERNMENT IN 6.85 11/03/25 USD 69.81
SRI LANKA GOVERNMENT IN 6.85 11/03/25 USD 69.79
SRI LANKA GOVERNMENT IN 6.13 06/03/25 USD 69.25
SRI LANKA GOVERNMENT IN 6.13 06/03/25 USD 69.21
SRI LANKA GOVERNMENT IN 6.83 07/18/26 USD 68.61
SRI LANKA GOVERNMENT IN 6.83 07/18/26 USD 68.39
SRI LANKA GOVERNMENT IN 7.85 03/14/29 USD 67.57
SRI LANKA GOVERNMENT IN 7.85 03/14/29 USD 67.43
SRI LANKA GOVERNMENT IN 7.55 03/28/30 USD 66.32
SRI LANKA GOVERNMENT IN 6.75 04/18/28 USD 66.31
SRI LANKA GOVERNMENT IN 7.55 03/28/30 USD 66.28
SRI LANKA GOVERNMENT IN 6.20 05/11/27 USD 66.26
SRI LANKA GOVERNMENT IN 6.75 04/18/28 USD 66.21
SRI LANKA GOVERNMENT IN 6.20 05/11/27 USD 66.09
SRILANKAN AIRLINES LTD 7.00 06/25/24 USD 67.64
THAILAND
--------
MDX PCL 4.75 09/17/03 USD 22.88
G STEEL PCL 3.00 10/04/15 USD 0.55
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter-Asia Pacific is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Marites O. Claro, Joy A. Agravante, Rousel Elaine T. Fernandez,
Julie Anne L. Toledo, Ivy B. Magdadaro and Peter A. Chapman,
Editors.
Copyright 2020. All rights reserved. ISSN: 1520-9482.
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