/raid1/www/Hosts/bankrupt/TCRAP_Public/210202.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, February 2, 2021, Vol. 24, No. 18
Headlines
A U S T R A L I A
ALICE MCCALL: Emerges from Voluntary Administration
EZ MACHINERY: First Creditors' Meeting Set for Feb. 10
GDC NSW: First Creditors' Meeting Set for Feb. 10
MAYFAIR 101: Court Enters Order to Wind Up Debenture Issuer
MAYVIC PTY: First Creditors' Meeting Set for Feb. 9
STAR BUSINESS: First Creditors' Meeting Set for Feb. 10
SWIFT SIGNS: Enters Into Voluntary Liquidation
C H I N A
HAINAN AIRLINES: Warns of Up to US$10.06 Billion Annual Loss
I N D I A
AINWESHA ENGINEERING: Insolvency Resolution Process Case Summary
BMI WHOLESALE: CARE Lowers Rating on INR11.34cr LT Loan to D
G V AUDIO: CARE Keeps D Debt Rating in Not Cooperating Category
GLOBECON COMMERCIAL: Insolvency Resolution Process Case Summary
HANUMAN AGRO: CARE Lowers Rating on INR12.80cr LT Loan to D
JRK INDUSTRIES: CARE Keeps D Debt Ratings in Not Cooperating
LALITPUR POWER: CARE Lowers Rating on INR196.50cr LT Loan to D
MAHARAJA COTSPIN: CARE Keeps D Debt Rating in Not Cooperating
NEELACHAL ISPAT: CARE Moves D Debt Ratings to Not Cooperating
NIKI AGRO: CARE Keeps D Debt Rating in Not Cooperating Category
NISHAKUNJ BUILDCON: Insolvency Resolution Process Case Summary
PALAK FERRO: CARE Keeps D Debt Rating in Not Cooperating Category
PATSPIN INDIA: CARE Keeps D Debt Ratings in Not Cooperating
RAGHAV INDUSTRIES: CARE Lowers Rating on INR20cr LT Loan to D
RAMDEV COTTON: CARE Keeps D Debt Rating in Not Cooperating
SAR SENAPATI: CARE Keeps D Debt Rating in Not Cooperating
SARAF AGENCIES: CARE Lowers Rating on INR97.18cr LT Loan to D
SEA BLUE: CARE Assigns C Issuer Rating
SPERRY INTERNATIONAL: CARE Keeps D Debt Rating in Not Cooperating
SPERRY PLAST: CARE Keeps D Debt Ratings in Not Cooperating
SPM WEAVING: CARE Lowers Rating on INR15cr LT Loan to D
SULOCHANA EXPORT: CARE Keeps D Debt Rating in Not Cooperating
SUMIT TEXSPIN: CARE Lowers Rating on INR75cr LT Loan to D
VIKSUN STEEL: Insolvency Resolution Process Case Summary
VRX HOSPITALITY: Insolvency Resolution Process Case Summary
I N D O N E S I A
MNC INVESTAMA: Gets Approval for Distressed Debt Plan
PT SAKA ENERGI: S&P Withdraws 'B' Long-Term Issuer Credit Rating
J A P A N
JAPAN AIRLINES: Sees Worse Net Loss This Fiscal Year
S I N G A P O R E
CONTINUUM ENERGY: Moody's Rates New USD Sr. Unsec. Notes '(P)Ba2'
SEN YUE: In CAD Probe; Chairman Suspended from Executive Functions
SEN YUE: Wholly-owned Unit Gets Letter of Demand from DBS
S O U T H K O R E A
SSANGYONG MOTOR: Prepares to File for Prepackaged Bankruptcy
X X X X X X X X
[*] BOND PRICING: For the Week Jan. 25, 2021 to Jan. 29, 2021
- - - - -
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A U S T R A L I A
=================
ALICE MCCALL: Emerges from Voluntary Administration
---------------------------------------------------
Imogen Bailey at Ragtrader reports that Alice McCall emerged from
voluntary administration on December 11 through a deed of company
arrangement (DOCA), SV Partners administrator Ian Purchas said.
According to the report, Mr. Purchas said Alice McCall owed AUD2.3
million to its largest related-party creditor - the title holder of
the intellectual property - AUD5 million to ordinary unsecured
creditors, AUD130,000 to redundant employees and AUD400,000 to the
bank.
As part of the DOCA, creditors voted to accept a 10 cents on the
dollar dividend, while employees will receive 100 cents on the
dollar.
Speaking on the process, Mr. Purchas said that a restructuring
option was the best course of action for the business, especially
seeing as the IP holder of the Alice McCall trading name was not
willing to sell, Ragtrader relates.
"I was particularly positive about the potential of the business
going into the administration. The reality was, there was never
the intention to close it. We couldn't sell the business because
there's a significant amount of value placed in the trading name
(Alice McCall) and the company that trades as Alice McCall doesn't
own that intellectual property," Ragtrader quotes Mr. Purchas as
saying.
"So potential purchasers that I spoke to who wanted to buy the
business, wanted to buy the trading name, and the owner of the
trading name wasn't prepared to sell it," he said.
The luxury label called in administrators on Nov. 8, 2020, due to
the significant downturn in sales from the COVID lockdowns and
unsustainable rental agreements.
Ragtrader notes that restructuring the business, administrators
closed 11 of 14 stores, leaving flagship locations in Westfield
Sydney, Emporium Melbourne and QueensPlaza Brisbane operating.
As part of the process, 35 staff across the closed stores and some
head office staff were made redundant, but will have their
entitlements paid in full, Ragtrader relays.
The business was returned to Alice McCall and her management team
on December 11, and according to Mr. Purchas is trading well, adds
Ragtrader.
EZ MACHINERY: First Creditors' Meeting Set for Feb. 10
------------------------------------------------------
A first meeting of the creditors in the proceedings of EZ Machinery
Australia Pty Ltd FKA 'abstract Engineering Pty Ltd', will be held
on Feb. 10, 2021, at 11:00 a.m. via virtual meeting.
Shumit Banerjee of Westburn Advisory was appointed as administrator
of EZ Machinery on Jan. 29, 2021.
GDC NSW: First Creditors' Meeting Set for Feb. 10
-------------------------------------------------
A first meeting of the creditors in the proceedings of GDC NSW Pty
Ltd will be held on Feb. 10, 2021, at 11:0 a.m. via virtual
meeting.
Morgan John Kelly of KPMG was appointed as administrator of GDC NSW
on Jan. 29, 2021.
MAYFAIR 101: Court Enters Order to Wind Up Debenture Issuer
-----------------------------------------------------------
Following an application by the Australian Securities and
Investments Commission (ASIC), the Federal Court has ordered the
winding up of M101 Nominees Pty Ltd, which issued secured
debentures promoted by Mayfair 101 known as M Core Fixed Income
Notes.
This is the first final outcome arising from ASIC's court actions
issued against Mayfair 101 Group companies and their director James
Mawhinney. In this action, ASIC sought to protect the assets of
M101 Nominees and the interests of M Core noteholders in
circumstances where:
* the product issuer had informed current investors of a
liquidity event;
* there appeared to be insufficient funds to repay investors;
and
* external administrators appointed to other products issued
by the Mayfair 101 Group had raised concerns about how the
investments had been dealt with to the detriment of
investors.
On Jan. 29, 2021, the Court ordered that M101 Nominees be wound up
on just and equitable grounds, and appointed Said Jahani and Philip
Campbell-Wilson of Grant Thornton as liquidators, after having
previously appointed them as provisional liquidators in order to
preserve the assets of the company pending the determination of
ASIC's winding up application.
M101 Nominees raised approximately AUD67 million from investors
during 2019 and 2020 based on representations that funds invested
would be fully secured, when they were not. M101 Nominees stopped
repaying funds to investors in March 2020 and froze interest
payments to investors from June 2020.
On Sept. 24, 2020, the provisional liquidators concluded that:
* M101 Nominees had been insolvent since it began in
October 2019;
* the business model of M101 Nominees was unsustainable
because it was raising funds from M Core noteholders on a
short-term basis (predominantly 6-12 months) and on-lending
to a related entity, Eleuthera Group Pty Ltd, for a term of
10 years. On this basis, M101 Nominees would not have
adequate funds to repay noteholders as their investments
fell due;
* distributions and redemptions paid to M Core noteholders
were funded from money raised from other M Core
noteholders, or to a lesser extent, from investors in
unsecured debentures promoted by Mayfair 101 known as M+
Fixed Income Notes;
* the security provided to the Security Trustee on behalf of
the M Core noteholders holds little value as it
specifically excluded real estate assets, which were the
only tangible assets held by the Mayfair 101 Group entities
and trusts giving the security; and
* the realisable value of M101 Nominees' assets is negligible
and insufficient to repay M Core noteholders' investments.
The defendants consented to the orders made by the Court. The Court
will publish reasons for its decision at a later date.
The Mayfair 101 Group owes approximately AUD211 million to those
who invested in its various products, including the M Core Fixed
Income Notes, M+ Fixed Income Notes, the IPO Wealth Fund, IPO
Capital and Australian Property Bonds.
ASIC Acting Chair, Karen Chester stated, 'ASIC moved decisively
early last year, directly and then ultimately through the courts,
to restrain Mayfair from promoting these allegedly misleading
products and to protect not only potential new investors but also
the interests of existing investors. This action is one of several
we have underway (under our project True to Label) targeting fund
managers not doing the right thing by investors. Especially those
fund managers preying on unsophisticated investors, such as older
Australians and retirees in regional Australia.'
ASIC is also seeking orders that Mr. Mawhinney, be permanently
restrained from certain activities, including advertising any
financial product and soliciting funds in connection with any
financial product. That matter will be heard by the Court on Feb.
15, 2021.
On April 3, 2020, ASIC commenced separate proceedings in the
Federal Court against companies in the Mayfair 101 group, including
M101 Nominees, alleging that those companies made statements in
advertisements that were false, misleading or deceptive.
On April 16, 2020, following an application by ASIC, the Federal
Court made interim orders restraining Mayfair Wealth Partners Pty
Ltd (trading as Mayfair Platinum) and Online Investments Pty Ltd
(trading as Mayfair 101) from promoting their debenture products,
including the M Core Fixed Income Notes, and prohibiting the use of
specific words and phrases in their advertising.
The matter is set down for trial commencing on Feb. 15, 2021.
MAYVIC PTY: First Creditors' Meeting Set for Feb. 9
---------------------------------------------------
A first meeting of the creditors in the proceedings of Mayvic Pty
Ltd, formerly known as 'Mayvic Australia Pty Ltd', will be held on
Feb. 9, 2021, at 11:00 a.m. via virtual meeting by telephone
conference.
Gavin Moss and Desmond Teng of Chifley Advisory Pty Ltd were
appointed as administrators of Mayvic Pty on Jan. 28, 2021.
STAR BUSINESS: First Creditors' Meeting Set for Feb. 10
-------------------------------------------------------
A first meeting of the creditors in the proceedings of Star
Business Group Pty Ltd, trading as Huss's Grill Cafe, will be held
on Feb. 10, 2021, at 11:00 a.m. at the offices of SM Solvency
Accountants, 10/144 Edward Street, in Brisbane, Queensland.
Brendan Nixon of SM Solvency Accountants was appointed as
administrator of Star Business on Feb. 1, 2021.
SWIFT SIGNS: Enters Into Voluntary Liquidation
----------------------------------------------
Wide Format Online reports that the creditors of Swift Signs on
Jan. 27 voted to voluntarily wind up the company.
Swift Signs, based in the inner eastern Adelaide suburb of Stepney
- and not to be confused with Swift Signs of Melbourne - went into
administration in October 2020 after the Australian Taxation Office
(ATO) continued an application in Federal Court to wind up the
business, Wide Format recalls. The ATO action came several months
after the company faced a separate winding up order application by
another creditor, Ramair Packaging.
Swift Signs remained open for business as the administrative
process took its course, the report says.
According to the report, administrator Trent McMillen of
Sydney-based MaC Insolvency called a creditors meeting in Adelaide
on November 12 to receive a report about the current financial
circumstances of the company.
Creditors were be asked to vote on: whether it would be in the
creditors' interests for the Company to execute a deed of company
arrangement (DOCA); whether it would be in the creditors' interests
for the administration to end; whether it would be in the
creditors' interests for the company to be wound up.
Wide Format relates that an ASIC notice posted on Jan. 27
announced: Notice is given that, on the resolution date set out
below [27 January 2021], the Company is taken, because of paragraph
s446AA(1)(a) to have passed a special resolution under s491 that
the Company be wound up voluntarily.
Swift Signs was established in 2009 by director Luke Knight. It
offered a full range of signage work, including large format
digital printing, vehicle graphics, shop fronts, banners, light
boxes and real estate signs.
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C H I N A
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HAINAN AIRLINES: Warns of Up to US$10.06 Billion Annual Loss
------------------------------------------------------------
South China Morning Post reports that shares of Hainan Airlines
Holding plunged on Feb. 1 after the company said that it expected
to post an annual loss of as much as US$10.06 billion, as its
parent HNA Group's bankruptcy restructuring has caused its assets
to depreciate significantly.
The Shanghai-listed firm finished the day 9.8 per cent lower at
CNY1.38, close to the daily cap of 10 per cent, the report notes.
According to the Post, the largest private airline in China said in
an exchange filing on Jan. 30 that its projected loss for 2020
could reach between CNY58 billion (US$8.98 billion) and CNY65
billion, more than the combined losses at Air China, China Eastern
Airlines and China Southern Airlines - the nation's top three
carriers.
Stock filings showed Air China's loss could be in the region of
CNY13.5 billion to CNY15.5 billion, while China Eastern Airlines
loss for 2020 could range between CNY9.8 billion and CNY12.5
billion. China Southern Airlines forecast losses of CNY7.9 billion
to CNY10.9 billion, the Post discloses.
Hainan Airlines said that the loss will result in a negative value
of net assets and it risks being delisted after the results are
released, the Post relays.
Over a quarter of the airline's loss of some CNY16.5 billion was
because of a slump in the airline's business caused by the Covid-19
pandemic. China's air passenger volume has fallen as coronavirus
outbreaks flared up in a number of provinces, according to the
Post.
Passenger volume stood at 44.41 million in November, a decline of
11.7 per cent from 50.32 million in October, according to the most
recent data from the Civil Aviation Administration of China, the
Post relays.
The other major blow to its earnings was from the bankruptcy
restructuring of its parent HNA Group. HNA said on Jan. 29 that it
was served with a petition on January 29 in the provincial High
Court seeking its bankruptcy and for it to undergo restructuring.
"Because important related parties including HNA Group have been
asked by creditors to restructure, equity investments, receivables
from related parties, financial and aircraft assets held by the
company are expected to record losses," Hainan Airlines, as cited
by the Post, said.
Other mainland-listed HNA entities also fell, the report notes. HNA
Technology ended 9.8 per cent lower at CNY2.29. HNA Infrastructure
Investment declined 0.6 per cent to CNY7.29.
HNA Investment Group, however, surged by the daily cap of 10 per
cent to CNY2.51 after it forecast as much as a elevenfold jump in
2020 profit to CNY374.8 million, the Post adds.
Based in Haikou, Hainan Province, the People's Republic of China,
Hainan Airlines Co., Ltd. -- http://www.hnair.com/-- founded in
1993, is the fourth-largest carrier in China and the largest
non-government-owned airline in China. Hainan Airlines is known
for its award-winning customer service, impeccable safety record
and on-time performance. Hainan Airlines carries more than 14
million passengers annually. Hainan Airlines currently flies to
more than 60 domestic and international cities, including the
capitals of every Chinese province. Hainan Airlines' international
flights include Budapest, Brussels, Osaka and St. Petersburg.
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I N D I A
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AINWESHA ENGINEERING: Insolvency Resolution Process Case Summary
----------------------------------------------------------------
Debtor: Ainwesha Engineering & Projects Limited
"Anwesha House", Senate Square
A-Tower, Vuda Road
Gotri, Vadodara 390021
Gujarat
Insolvency Commencement Date: January 25, 2021
Court: National Company Law Tribunal, Vadodara Bench
Estimated date of closure of
insolvency resolution process: July 24, 2021
Insolvency professional: Sachin Dinkar Bhattbhatt
Interim Resolution
Professional: Sachin Dinkar Bhattbhatt
A-103, Yogiraj Villa 2
Behind Iscon Heights
Kunal Cross Roads
Gotri-Laxmipura Road
Gotri, Vadodara 390023
Gujarat
E-mail: sachin.bhattbhatt@gmail.com
cirp.anwesha@gmail.com
Last date for
submission of claims: February 11, 2021
BMI WHOLESALE: CARE Lowers Rating on INR11.34cr LT Loan to D
------------------------------------------------------------
CARE Ratings revised the ratings on certain bank facilities of BMI
Wholesale Trading Private Limited (BMI), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 11.34 CARE D Revised from CARE B+;
Facilities Stable
Short Term Bank 3.00 CARE D Revised from CARE A4
Facilities
Detailed Rationale& Key Rating Drivers
Revision in the ratings assigned to the bank facilities of BMI
factor in continuous overdrawing in the cash credit account since
October 27, 2020 and delays in bill discounting facility.
The aforesaid constraints, however, continue to be partially offset
by the strength derived from established track record of the
promoter in the marketing of premium brands in apparels though the
licensing arrangement and established brand presence with wide
geographical reach.
Rating sensitivities
Positive Factors
* Timely servicing of debt obligations
Detailed description of the key rating drivers
Key Rating Weaknesses
* Delays in debt servicing: As per banker interaction and bank
statements shared by BMI, there has been continuous overdrawing in
the cash account since past six months due to weak liquidity
position. Further as informed by the banker there are delays in
bill discounting facility as well. Weak Liquidity position: The
liquidity position remained weak marked by low accruals to repay
its debt obligations. Further, free cash and bank balance remained
low at INR0.35 crore as on March 31, 2020 (vis-à-vis INR0.15 crore
as on March 31, 2019). The current ratio of 0.94x as on March 31,
2020 (A) vis-à-vis 1.01x as on March 31, 2019. The company had
availed moratorium provided by RBI under COVID-19 pandemic
situation.
Key Rating Strengths
* Established track record of the promoter in the marketing of
premium brands in apparels though the licensing arrangement:
Company is promoted by Prestige Brands Limited and has a legacy of
more than 45 years in the development and marketing of designer
lifestyle products. The operations of BMI are managed by Mr. Vijay
Murjani having an experience of more than a decade in the
marketing, merchandising and retail development related to premium
brands. Further the promoters are resourceful and have been
supporting the operations by regular infusion of funds.
* Established brand presence with wide geographical reach:
Currently the company has changed its business model from
franchisee business to wholesale distribution of products through
its 16 distributors who distribute to more than 120 multi brand
outlets in India, e-commerce giants namely Myntra, Flipkart, Amazon
and Ajio and one shop in shop partner I.e. "Shoppers Stop". However
as per the old business Model Company still has 15 exclusive
"French Connection" stores.
Analytical approach: Standalone
Incorporated in 2006, BMI Wholesale Trading Private Limited [BMI,
formerly known as MK Retail Private Limited] is promoted by
Prestige Brands Limited (a company wholly owned by New York based
Murjani Group). BMI is engaged in wholesale trading and marketing
of licensed products such as apparels and innerwear under the brand
'French Connection' in the Indian Territory wherein BMI has the
exclusive long term rights for French Connection.
G V AUDIO: CARE Keeps D Debt Rating in Not Cooperating Category
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of G V Audio
Visionn Private Limited (GVAVPL) continues to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 7.50 CARE D; ISSUER NOT COOPERATING;
Facilities Rating continues to remain
Under ISSUER NOT COOPERATING
CATEGORY
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated February 11, 2020, placed
the rating(s) of GVAVPL under the 'Issuer non-cooperating' category
as GVAVPL had failed to provide information for monitoring of the
rating GVAVPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and email dated January 12, 2021. In line with the extant SEBI
guidelines, CARE has reviewed the rating on the basis of the best
available information which however, in CARE's opinion is not
sufficient to arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
Detailed description of the key rating drivers
At the time of last rating on February 11, 2020 the following were
the rating strengths and weaknesses:
Key Rating Weakness
* Ongoing delays in meeting debt obligations: The company was
unable to generate sufficient cash flows leading to strained
liquidity position resulted in delays in meeting its debt
obligations in time.
Erode (Tamilnadu) based G V Audio Visionn Private Limited was
established on November 05th 2008 by Mr. KKM Khatir (Director) and
other promoter directors. The company retail outlet for consumer
durable products such as Television, AC, Fridge, Washing Machine,
etc pertaining to various brands. The promoter started the business
in the name of partnership firm M/s G V Audio Vision, Later on, the
constitution of entity was changed to Private Limited during 2008.
The company is head quartered at Erode with branch showrooms
located at Coimbatore, Tiruppur, Gobi, Namakkal and Tiruchengode in
Tamilnadu. Mr. KKM Khatir, Director of the company, has experience
in the same line of business from past 3 decades.
GLOBECON COMMERCIAL: Insolvency Resolution Process Case Summary
---------------------------------------------------------------
Debtor: Globecon Commercial Services Private Limited
6th Floor, Apeejay House
130, Mumbai Samachar Marg
Fort, Mumbai 400023
Maharashtra
Insolvency Commencement Date: January 25, 2021
Court: National Company Law Tribunal, Ahmedabad Bench
Estimated date of closure of
insolvency resolution process: July 24, 2021
(180 days from commencement)
Insolvency professional: Mr. Ajit Gyanchand Jain
Interim Resolution
Professional: Mr. Ajit Gyanchand Jain
204, Wall Street-1
Near Gujarat College
Ellisbridge
Ahmedabad 380006
E-mail: ajit@vcanca.com
cirp.gcspl@gmail.com
Last date for
submission of claims: February 10, 2021
HANUMAN AGRO: CARE Lowers Rating on INR12.80cr LT Loan to D
-----------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Hanuman Agro Industries Limited (HAIL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 12.80 CARE D; ISSUER NOT COOPERATING
Facilities Revised from CARE BB; Stable
and moved to ISSUER NOT
COOPERATING category
Short Term Bank 2.00 CARE D; ISSUER NOT COOPERATING
Facilities Revised from CARE A4 and moved
to ISSUER NOT COOPERATING
category
Detailed Rationale & Key Rating Drivers
CARE has been seeking information from HAIL to monitor the rating
vide e-mail communications/letters dated July 7, 2020, Sept. 10,
2020, Nov. 1, 2020, Nov. 24, 2020, Dec. 8, 2020, Jan. 5, 2021, Jan.
12, 2021 and numerous phone calls. However, despite our repeated
requests, the company has not provided the requisite information
for monitoring the ratings. In line with the extant SEBI
guidelines, CARE has reviewed the rating on the basis of the best
available information which however, in CARE's opinion is not
sufficient to arrive at a fair rating. Further, HAIL has not paid
the surveillance fees for the rating exercise as agreed to in its
Rating Agreement. The rating on HAIL's bank facilities will now be
denoted as CARE D; ISSUER NOT COOPERATING. The rating assigned to
the bank facilities of HAIL take into account the on-going delays
in debt servicing.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
Key Rating Weaknesses
* Ongoing Delays in debt servicing: There are ongoing delays in
servicing of Term loan. The delays were due to lower accruals from
business operations and higher dependence on external borrowings.
Liquidity analysis:
Liquidity: Poor: Poor liquidity marked by lower accruals when
compared to repayment obligations, fully utilized bank limits as on
December 31, 2020. This could constrain the ability of the entity
to repay its debt obligations on a timely basis.
Hanuman Agro Industries Ltd. (HAIL) incorporated in November 1984,
was promoted by Kanoria family of Kolkata. HAIL has been engaged in
business of paper milling having manufacturing facility in Raipur,
Chhattisgarh. Initially the company used to manufacture
agro-residue based writing and printing paper (WPP) ranging from
Maplitho, SS Cream Wove & Duplicating sheets having stretches
between 42 to 70 grams per square metre (GSM). From February 2013,
the company changed its manufacturing process using recycled fibre
and waste paper as raw material followed by an increase in capacity
from 13,200 MTPA to 16,500 MTPA. HAIL's entire power requirement is
met through its 2.5 MW captive power plant (CPP). The power plant
is registered carbon credit and generating a significant amount of
revenue as non-operating income from the United Nations Framework
Convention on Climate Change (UNFCCC). The company sells its
products through the wholesalers and distributors covering 18
states of India primarily located in eastern, northern and western
parts of the country under the brand name of 'Hanuman'.
JRK INDUSTRIES: CARE Keeps D Debt Ratings in Not Cooperating
------------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of JRK
Industries Private Limited (JRKIPL) continue to remain in the
'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 11.96 CARE D; ISSUER NOT COOPERATING;
Facilities Rating continues to remain
Under ISSUER NOT COOPERATING
CATEGORY
Short Term Bank 1.00 CARE D; ISSUER NOT COOPERATING;
Facilities Rating continues to remain
Under ISSUER NOT COOPERATING
CATEGORY
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated January 9, 2020, placed the
rating(s) of JRKIPL under the 'issuer non-cooperating' category as
JRKIPL had failed to provide information for monitoring of the
rating for the rating exercise as agreed to in its Rating
Agreement. JRKIPL continues to be non-cooperative despite repeated
requests for submission of information through e-mails, phone calls
and a letter/email dated December 21, 2020, December 23, 2020,
December 28, 2020, December 30, 2020 and numerous phone calls etc.
In line with the extant SEBI guidelines, CARE has reviewed the
rating on the basis of the best available information which
however, in CARE's opinion is not sufficient to arrive at a fair
rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Detailed description of the key rating drivers
At the time of last rating on January 9, 2020 the following were
the rating strengths and weaknesses.
Key Rating Weaknesses
* Delay in debt servicing owing to stretched liquidity position:
There were delays in debt servicing owing to stretched liquidity
position.
Jaipur (Rajasthan) based JRKIPL was incorporated in 1997 by Mr.
Bharat Kumar Poddar, Mr. Radha Krishna Jalan, Mr. Rajesh Kumar
Jalan and their family members. JRKIPL is engaged in the business
of manufacturing and supplying of steel wires, galvanized wires,
binding wires and strip for the armoring of land cables. It has
installed manufacturing capacity of 32400 MT per annum for HB wire,
Binding wire and GI wires as on March 31, 2018.
LALITPUR POWER: CARE Lowers Rating on INR196.50cr LT Loan to D
--------------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Lalitpur Power Generation Company Limited (LPGCL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 196.50 CARE D Revised from CARE BB+;
Facilities Stable
Detailed Rationale & Key Rating Drivers
The revision in the rating assigned to the bank facilities of LPGCL
takes into account the unforeseen deterioration in the liquidity
profile on account of the company's abrupt reduction in collections
from the off-takers resulting in delays in debt servicing. The
rating continues to take into cognizance the significant
counterparty credit risk emanating from customer concentration on
four distribution companies (discoms) of UP Power Corporation Ltd
(UPPCL), along with weak financial profile of the off-takers. LPGCL
has witnessed significant accumulation of regulatory receivables in
the past, which was temporarily alleviated through sizable
realization of dues in Aug'20. The rating continues to negatively
factor in the significant difference in the final project cost
vis-à-vis the project cost provisionally acknowledged by UP
Electricity Regulatory Commission (UPERC) leading to lower billing
of capacity charge currently along with the associated risk of
disallowance of the increased project cost. The rating also factors
in the leveraged capital structure of the company. The rating
derives strength from the long term power purchase agreements
(PPAs) with the discoms of Uttar Pradesh (UP) for the entire
capacity and its cost-plus tariff structure providing revenue
visibility along with the opportunity to earn fixed return on
equity. The rating also factors in the firm long term fuel supply
agreement (FSA) that LPGCL has entered with the various
subsidiaries of Coal India Ltd (CIL), its progress in inter-plant
transfer mechanism of surplus linkage coal from its group company
and its moderate operational performance.
Key Rating Sensitivities
Positive Factors - Factors that could lead to positive rating
action/upgrade:
* Ability of the company to improve timeliness of collections from
UPPCL and reduce the overall debt exposure from the funds received
* Recovery of regulatory receivables along with carrying cost as
envisaged
* Effective management of its working capital and improvement in
its liquidity position.
Detailed description of the key rating drivers
Key Rating Weaknesses
* On-going delays and poor liquidity: The liquidity position of the
company is poor with on-going delays in debt repayment. While the
first tranche of PFC/REC disbursement under the Atmanirbhar Bharat
scheme was received to LPGCL in Aug'20 realization of subsequent
receivables from UPPCL has witnessed sharp reduction. The payment
pattern of UPPCL has been sporadic and the average collection
period of LPGCL has increased continuously in the past. This was
compounded by strong power demand in Uttar Pradesh in Q3FY21
leading to higher cash outflow by LPGCL to maintain adequate coal
inventory level. The cash flow mismatch for the company resulted in
delay in debt servicing. The company's liquidity profile is further
tempered by higher working capital fund based utilization and
absence of debt service reserve account (DSRA).
* Counterparty credit risk associated with weak off-taker: LPGCL's
counterparty credit risk is two-pronged – on account of customer
concentration (entire capacity tied up to a single state) and weak
credit profile of U.P Power Corporation Ltd (UPPCL) and the discoms
of UP. The high level of Aggregate Transmission and Commercial
(AT&C) loss, the rising power purchase costs and the absence of
cost reflective tariff regimes have put a strain on the financial
position of the discoms of UP. LPGCL has provision of late payment
surcharge, which mitigates the counterparty risk to some extent.
The average collection period of LPGCL has continuously increased
from 51 days in FY18 to 106 days in FY19 and 212 days in FY20.
Debtors more than 180 days were 46.3% of total as on March 31,
2020. Further, average collection including regulatory receivables
has been high and increasing. LPGCL's collection significantly
reduced during Covid'19 induced lockdown. Subsequent to the
disbursement of liquidity support fund by PFC/REC under the
Atmanirbhar Bharat package for discoms, the debtor level of LPGCL
recovered near to pre- Covid'19 level which is still high.
* Full project cost approval risk; final tariff petition under
consideration with UPERC; provisionally approved project cost
leading to lower capacity charge recovery currently: UPERC had last
approved provisional tariff for the company in March'18 and had
recognized INR14,269 cr of capital cost. Since the entire project
cost actually incurred has not been acknowledged by UPERC yet,
LPGCL is currently billing lower capacity charge to UPPCL. However,
the final tariff upon approval is expected to be carried out on
retrospective basis. The final project cost has witnessed
significant increase from the initial estimate. Part of it is
attributable to increased scope of project (including railway
system and water canal). There was also a delay in construction of
transmission evacuation infrastructure by UPPCL which delayed
commercialization of LPGCL's units. This led to increased interest
during construction period. Since there has been a sizable increase
in the project cost from the initially appraised figure, the extent
of cost overrun acknowledged by UPERC shall remain a key
monitorable.
* Other regulatory issues leading to accumulated dues: The
company's regulatory receivables stood high above INR3,000 cr in
last three years. It primarily includes (1) the claim on capacity
charge under ABT mechanism based on Plant Availability Factor (PAF)
instead of Plant Load Factor (PLF) till the commissioning of
transmission system, (2) under-recovery of Return on Equity
component till the time linkage coal was arranged and (3) the
capacity charge claimed during FY18 as compensation for PAF loss
due to liquidity issues created on account of delayed payment by
UPPCL. LPGCL has recently received a favourable order from the
Hon'ble Supreme Court on matters (1) and (2) and from Appellate
Tribunal for Electricity (APTEL) in regard to the matter (3). The
management expects sizable realization of the regulatory dues
pertaining to matter (1) along with associated carrying cost during
H2FY21, which is expected to improve the liquidity profile of the
company.
* Leveraged capital structure: LPGCL's leveraged capital structure
is contributed by a higher component of project debt in comparison
to equity, accumulation of regulatory receivables and stretched
payment from UPPCL leading to higher working capital requirement.
Its overall gearing, although improved from 3.38x as on March 31,
2018 to 2.96x as on March 31, 2020, is still high. Interest cover
has been marginal at 1.51x in FY18, 1.70x in FY19 and 1.60x in
FY20. Similarly TD/GCA has been high with marginal improvement from
16.12x in FY18 to 13.16x in FY20.
* Industry Risk: Thermal power generation has witnessed decline in
last two years and has particularly declined during Covid'19
induced lockdown. As per CEA, all India thermal PLF declined from
60.30% in FY19 to 55.99% in FY20. Despite the gradual recovery of
demand post the reduction of lockdown restriction during Q2FY21, it
was still low at 48.48% in YTD-Aug'20 (vs 59.17% during
YTD-Aug'19). Lower commercial and industrial activities led to the
decline in demand for power. The impact was relatively less felt in
Uttar Pradesh, where the decline in base energy demand was lower
than the national average decline during H1FY21 in comparison to
that during H1FY20. Moreover, peak demand was higher during H1FY21
than that during H1FY20. Fuel availability for thermal plants has
improved during H1FY21 due to lower consumption (as demand was
low). The plants thus registered higher PAF ensuring higher
recovery of capacity charge. However, weak billing and collection
efficiency of the DISCOMs during Covid'19 lockdown has led to
stretched payments to gencos. Plants having their capacity tied up
with weaker DISCOMs have been more severely impacted. The INR1.2
lakh cr liquidity infusion by PFC/REC to the DISCOMs under the
Atmanirbhar Bharat programme has provided temporary relief to the
power value chain. Further the extent and timeliness of government/
regulatory support to DISCOMs would have a bearing to the working
capital intensity of gencos like LPGCL.
Key Rating Strengths
* Full capacity tied up in long-term PPA providing revenue
visibility: The company has its entire capacity of 1,980 MW tied up
with the four DISCOMs of Uttar Pradesh through UPPCL for 25 years
on take-or-pay basis. The tariff under PPA is two part basis (fixed
and variable) which is determined on the basis of UPERC guidelines.
The fixed charge is recoverable in full if the plant availability
is at least the normative PAF. In case the plant availability is
lower than the normative PAF, the capacity charges are recoverable
on a pro rata basis. The variable charge is determined on the basis
of landed cost of fuel applied on the quantity of fuel consumption.
The cost of fuel on the basis of pre-approved normative operating
parameter (eg. station heat rate (SHR), secondary oil consumption,
auxiliary etc) is a pass-through item.
* Fuel supply risk mitigated through firm long term FSA: The
company has executed long term Fuel Supply Agreements (FSA) with
different subsidiaries of CIL for an annual contracted quantity
(ACQ) of 5.64 million tonne per annum (MTPA) of coal in January
2018 and ACQ of 1.4807 MTPA in September 2020. LPGCL was a
successful bidder under the Scheme for Harnessing and allocating
Koyla (Coal) Transparently in India (SHAKTI) auction by passing
certain discount on its power tariff. The maximum PLF that can be
achieved through this linkage arrangement is estimated at 76.8%.
In addition to the above-mentioned FSAs, NCL has also approved
inter-plant transfer of coal from group company - Bajaj Energy
Limited (BEL, CARE BB+; Stable/ CARE A4). Upon the execution of
amendatory FSA with NCL, BEL will be able to transfer its
unutilized quota of contracted quantity from its 5 plants to LPGCL.
This added flexibility is expected to further improve linkage coal
availability of LPGCL, going forward. LPGCL has the provision to
procure coal from e-auction channel as well, in case it receives
higher scheduling.
* Moderate operational performance: LPGCL's operational performance
has been moderate characterized by a satisfactory station heat rate
(SHR) and auxiliary consumption over last three years. The plant
has also maintained requisite plant availability in the past
ensuring full recovery of capacity charge. However, due to its
higher cost of fuel, its scheduling has been low leading to lower
PLF. It stood at 45.87% in 9MFY21 (9MFY20: 50.79%).
* Experienced promoters: The Shishir Bajaj group has diversified
businesses including sugar and ethanol production, manufacturing
and marketing of FMCG products, bagasse-based co-generation of
power, real estate/infrastructure development and coal-based power
generation. The group through its subsidiaries holds the entire
shareholding of LPGCL. Mr. Kushagra Nayan Bajaj is the son of Mr.
Shishir Bajaj and is the Executive - Chairman of LPGCL. He has
completed his BSc from Carnegie Mellon University and MBA from
Northwestern University. The promoters are ably supported by the
team of senior management which has several years of experience in
finance, marketing and production across diverse sectors.
LPGCL is a special purpose vehicle of the Shishir Bajaj group
incorporated on September 4, 2009 to set up a super critical
thermal power plant in Lalitpur district, Uttar Pradesh. The plant
has three units of 660 MW with a total capacity of 1,980 MW. The
group won the bid to own, implement and operate the thermal power
plant against expression of interest (EoI) by U.P Power Corporation
Ltd (UPPCL). The group had executed a Memorandum of Understanding
(MoU) on April 22, 2010 with the Government of Uttar Pradesh for
development of the project. Pursuant to the said MoU the SPV (i.e
LPGCL) was transferred on December 10, 2010 by UPPCL to the group.
All the units were commercialized by December 2016, within the
timelines defined in the PPA. The project cost has been finalized
at INR18,575 cr.
MAHARAJA COTSPIN: CARE Keeps D Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Maharaja
Cotspin Limited (MCL) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 11.10 CARE C; Negative; ISSUER NOT
Facilities COOPERATING Rating continues to
Remain under ISSUER NOT
COOPERATING category
Long Term Bank 17.64 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Short Term Bank 15.60 CARE A4; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated October 25, 2019, placed the
ratings of MCL under the 'issuer non-cooperating' category as MCL
failed to provide information for monitoring of the rating. MCL
continues to be noncooperative despite repeated requests for
submission of information through e-mails, phone calls and a letter
dated January 19, 2021. In line with the extant SEBI guidelines,
CARE has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
Outlook: Negative
The negative outlook is on account of the instances of delays in
the servicing of the term debt obligations and weak liquidity
position of the company. The outlook may be revised to 'Stable' if
the company is able to timely repay its debt obligations, for at
least three consecutive months, while maintaining a satisfactory
liquidity position.
Detailed description of the key rating drivers
At the time of last rating on October 25, 2019, the following was
the rating weaknesses and strengths.
Key Rating Weaknesses
* Instances of delays in the debt servicing: There had been
instances of delays in the servicing of the repayment obligations
for the term loans availed by the company. Further, there had also
been instances of overdrawals in the fund based limits availed by
the company, which were, however, settled within 30 days.
* Susceptibility of margins to fluctuations in raw material prices
and foreign exchange fluctuations: The operations of MCL are highly
raw material intensive in nature with the material cost
constituting ~70% on an average (of the total income) for the last
three years. The primary raw materials of the company are polyester
and acrylic fiber, prices of which are directly linked to crude oil
prices which in turn are highly volatile in nature. The company
usually engages in bulk procurement of raw material to avail
discounts. Subsequently, sales orders are booked at prices that
factor in the raw material costs. However, operations in a highly
competitive industry limits the ability of the company to pass on
increased costs to the customers thereby exposing the profitability
margins to any adverse movement in the raw material prices.
Furthermore, the company is engaged in exports and some of its raw
material need is also met from outside India. Since the company is
not engaged in any hedging mechanism, the profitability margins
remain exposed to adverse fluctuations in the foreign exchange
rates.
* Customer and geographical concentration risk: The company has a
concentrated revenue stream with top-5 customers contributing ~38%
of the total income in FY18. Any change in the procurement policy
of these customers may adversely impact the business of the
company. This also exposes the company's revenue growth and
profitability to its customer's future growth plans. Furthermore,
the company's operations are limited to the Punjab state only, and
especially to Ludhiana city, despite being in operations for around
six years, thus exposing it to geographical concentration in its
revenue profile.
* Highly fragmented and competitive nature of the industry: The
organized sector in the textile industry, consisting of largescale
spinning units and composite mills, is responsible for the majority
of installed capacity of the yarn production. The unorganized
sector, consisting of small scale spinning units, accounts for rest
of the capacity. This leads to highly fragmented industry structure
having high level of competition and intense pricing pressures on
the players operating in the industry.
Key Rating Strengths
* Experienced promoters: The promoters have around two decades of
experience in the textile industry. The directors are further
assisted by a team of professionals who are highly experienced in
their respective domains.
Maharaja Cotspin Limited (MCL) was incorporated in April 2010 as a
closely-held public limited company, however, the operations of the
company started in August-2011. The company is primarily engaged in
the manufacturing of yarns and knitted fabrics at its sole
manufacturing facility located at Ludhiana, Punjab with an
installed capacity of 26208 spindles for yarn manufacturing and 29
circular knitted machines for knitted fabric manufacturing, as on
March 31, 2018. The company is also engaged in the trading of yarns
and knitted fabric. The group concerns of the company include Eshan
Yarns Private Limited (EYPL; rated CARE B; Stable; Issuer Not
Cooperating) which is engaged in manufacturing of polyester
fabrics, M/s Maharaja Fabrics (engaged in the manufacturing of
knitted fabrics from polyester yarn), M/s Maharaja Trading Company
(engaged in the trading of fibers and yarn) and Maharaja Dyeing and
Furnishing Mills (engaged in business of dyeing of fabrics).
NEELACHAL ISPAT: CARE Moves D Debt Ratings to Not Cooperating
-------------------------------------------------------------
CARE Ratings has migrated the rating on bank facilities of
Neelachal Ispat Nigam Limited (MMTC) to Issuer Not Cooperating
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
(i) Long Term 644.64 CARE D; ISSUER NOT COOPERATING;
Bank Facilities Rating moved to ISSUER NOT
COOPERATING category
(ii) Short Term 252.05 CARE D; ISSUER NOT COOPERATING;
Bank Facilities Rating moved to ISSUER NOT
COOPERATING category
(iii) Long Term 646.52 CARE B (CE); ISSUER NOT
Bank Facilities COOPERATING; Rating moved to
ISSUER NOT COOPERATING
category; Continues to be on
Credit watch with Developing
Implications
(iv) Long Term 39.00 CARE C (CE); ISSUER NOT
Bank Facilities COOPERATING; Rating moved to
ISSUER NOT COOPERATING
category; Continues to be on
Credit watch with Developing
Implications
(v) Short Term 5.00 CARE A4 (CE) ISSUER NOT
Bank Facilities COOPERATING Rating moved to
ISSUER NOT COOPERATING
category; Continues to be on
Credit watch with Developing
Implications
(vi) Non 200.00 CARE B (CE); ISSUER NOT
Convertible COOPERATING; Developing
Debentures-I Implications; Rating moved to
ISSUER NOT COOPERATING
category; Continues to be on
Credit watch with Developing
Implications
(vii) Non 100.00 CARE B (CE); ISSUER NOT
Convertible COOPERATING; Developing
Debentures-II Implications; Rating moved to
ISSUER NOT COOPERATING
category; Continues to be on
Credit watch with Developing
Implications
Detailed Rationale & Key Rating Drivers for the credit enhanced
debt
The ratings assigned to the bank facilities (S.no. (iii) & (v)) and
the non-convertible debentures (S.no. (vi) & (vii)) of Neelachal
Ispat Nigam Limited take into account the credit enhancement in the
form of unconditional and irrevocable corporate guarantee extended
by MMTC Limited (rated CARE B/ CARE A4 and also CARE D for few
short term facilities) (under credit watch with developing
implications)) while the rating assigned to bank facility with
S.no. (iv) takes into account the credit enhancement in the form of
unconditional and irrevocable partial corporate guarantee extended
by MMTC Limited. CARE has been seeking information from Neelachal
Ispat Nigam Limited(NINL) to monitor the rating(s) vide e-mail
communications/letters dated January 4, 2021, January 5, 2021,
January 7, 2021 among others and numerous phone calls and a letter
dated January 08, 2021 . However, despite our repeated requests,
the company has not provided the requisite information for
monitoring the ratings. In line with the extant SEBI guidelines,
CARE has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating. Further, Neelachal Ispat Nigam Limited has
not paid the surveillance fees for the rating exercise as agreed to
in its Rating Agreement. The rating on Neelachal Ispat Nigam
Limited's bank facilities and instruments will now be denoted as
per above table under ISSUER NOT COOPERATING.
Detailed Rationale & Key Rating Drivers (CE Ratings)
The credit profile of MMTC continues to take into account weakening
of credit profile of MMTC Ltd on account of its stretched liquidity
position resulting in a recent delay in repayment of short-term
loans, increasing exposure towards its associate company Neelachal
Ispat Nigam Limited (NINL) in the form of continuous fund based
support through investments and loans & advances and also continued
corporate guarantees towards NINL's loans and bonds which is
resulting in significantly high debt in the books of MMTC. The
ratings of MMTC, however, continue to derive strength from its
position as the largest international trading house in India,
predominant ownership by the Government of India (GoI) as well as
long and established track record of trading in diverse commodities
and strong internal control mechanism. The ratings continue to
remain on credit watch with developing implications on account of
the ongoing process of divestment of equity shareholding in NINL.
MMTC holds 49.78% in NINL as on June 30, 2020. Further, CARE notes
that the Cabinet Committee on Economic Affairs (CCEA) has given
'in-principle' approval for strategic disinvestment of 100% equity
of NINL in January 2020. CARE will continue to monitor the
developments in this regard and will take a view on the ratings
once the exact implications of the above on the credit risk profile
of the company are clear.
Key Rating Drivers of Neelachal Ispat Nigam Limited
The ratings assigned to the standalone bank facilities with S.no.
(i) & (ii) of Neelachal Ispat Nigam Limited continues to factor
in delays in debt servicing by the company.
Rating Sensitivities for CE Ratings
Positive Factors - Factors that could lead to positive rating
action/upgrade:
* Successful completion of the divestment of NINL resulting in a
recovery of loans & advances extended by MMTC
* Profitable increase in the scale of operation by more than 20% on
a sustained basis.
Negative Factors- Factors that could lead to negative rating
action/downgrade:
* Any further increase in advances to NINL exerting pressure on
MMTC's liquidity
Detailed description of the key rating drivers (CE Ratings)
Key Rating Weaknesses
* Stretched Liquidity: The company has defaulted in repayment of
two Short-term Loans (STL) in the month of September 2020 of INR300
crore and INR160 crore. Further, the company also has requested its
lenders for one-time restructuring of its loans as per 'Resolution
Frame work for COVID-19 related stress' announced by RBI on August
6, 2020. The liquidity position of MMTC is stretched on account of
increase in debt which has primarily been extended as operational
support to NINL.
* High group exposure & increased fund based support to NINL
leading to moderation in the financial & liquidity profile of MMTC:
The company reported a decrease of ~16.64% in revenue from
INR28891.4 cr in FY19 to INR24167.17 cr in FY20. The same is on
account of non-recognition of other trade income (which is
commission from NINL). MMTC provides operational support to NINL by
purchasing coking coal for NINL and selling NINL's products (pig
iron) on commission basis. MMTC earns 3% commission on the sales
made on behalf of NINL which is shown under other trade income in
the books of MMTC. In FY19, total commission earned was INR223.94
crore (PY: INR156.51 crore). Further, the revenue recognized in
first 3 quarters of FY20 was also written off in Q4FY20; resulting
in negative revenue from the 'Metals Segment'. This has also
resulted in negative PBILDT for FY20. The interest cost was partly
funded through internal accruals and partly through working capital
borrowings. The company reported a PAT loss of INR227.11 crore in
FY20 (PY: PAT of INR81.43 crore). The capital structure of the
company also deteriorated in FY20 due to increased working capital
borrowings and reduction in Net worth due to loss reported in FY20.
Further, for executing of one tender for import of Urea, MMTC
requested Department of Fertilizer (DoF) to arrange for loan from
National Small Savings Fund (NSSF)to avoid any cash-flow mismatch
and thus short term loan from NSSF of INR1310 crore was disbursed.
The funds were released from DoF and the loan was repaid in April
2020. This resulted in significant increase in total debt as on
March 31, 2020. Also, working capital borrowings were higher on
account of operational support extended to NINL. However, the debt
marginally reduced to INR2353.85 crore as on June 2020 with the
repayment of NSSF loan. However the off-balance sheet exposure of
the company continues to remain high which includes corporate
guarantee of INR1345.82 crore in favor of the lenders of NINL as on
March 31, 2020. MMTC being the 'Managing Promoter' for NINL extends
short-term credit facility to NINL upto a limit of INR1,425.00
crore for its day-to-day operational activities on continuing basis
and a trade related financial facility in the form of loans and
advances. MMTC's equity investment in NINL is INR459.11 crore as on
June 30, 2020. In addition, the company's total advances
recoverable from NINL as on June 30, 2020 are INR3,294.13 crore
(INR2,594.57 crore as on March 31, 2019) inclusive of interest
accrued not recognized as income of INR252.21 crore for FY20 and
INR72.82 crore for Q1FY21. MMTC has extended total advances of
INR2328 crore to NINL fromFY17 to Q1FY21. The overall gearing after
considering the corporate guarantee and deducting advances to
related parties from net-worth of MMTC Ltd, turns negative.
* H1FY21 Results: The company has reported a decrease of ~42% in
total operating income on Y-o-Y basis in H1FY21 to INR7641.83 crore
vis-à-vis INR13196.93 crore in H1FY20. The company has also
reported negative PBILDT and PAT margins in H1FY21.
Key Rating Strengths
* MMTC's position as the largest international trading house in
India: MMTC is the largest international trading company of India
and the first Public Sector Enterprise to be accorded the status of
"FIVE STAR EXPORT HOUSE" by the GOI for longstanding contribution
to exports. It is the largest non-oil importer of the nation. MMTC
has been awarded the 'Mini Ratna' status and stands as a leading
international trading house in India. It has consistently won
various prestigious awards for export performance. MMTC was
established in 1963 and is one of the major global trading players.
It has six major divisions' viz., Precious metals, Minerals & ores,
Metals and industrial raw materials, Agro products, Fertilizers &
Chemicals and Hydrocarbons.
* Established track record of trading in diverse commodities: MMTC
is involved in diverse trading activities in exports, imports and
domestic trading of goods. It is the largest exporter of minerals
from India, single largest importer/supplier of bullion and
non-ferrous metals viz. copper, aluminum, zinc, lead, tin and
nickel in the country. The company has a wholly-owned international
subsidiary in Singapore to support its international trade. MMTC
has formed Joint Ventures with various entities in order to
diversify and increase its area of operations. The fertilizers
segment was the highest contributor to the overall revenues in
FY20. MMTC imports Urea on behalf of department of fertilizers,
Ministry of Chemicals and Fertilizers. During FY20, the Fertilizer
and Chemicals segment achieved a turnover of INR11100 crore (as
compared to INR10,132 crore during FY19). The precious metals
segment include trading of gold (under export or under open general
license), silver and retail sale. Despite high volatility in prices
of bullion as well as Indian Rupee -US Dollar exchange rates,
precious metals segment contributed a gross turnover of INR8304.82
crore contributing to almost 34% of total turnover achieved by the
company in FY20.
* Internal control and risk management systems: MMTC is engaged in
both imports as well as exports of diverse commodities. The company
manages the price volatility risks by entering into back-to-back
transactions. MMTC manages foreign currency risk, by taking
adequate forward cover. Counterparty risks are mitigated to an
extent as MMTC takes earnest money deposits from its clients in
advance (Bank guarantee of 120% in case of gold imports and EMD of
10-25% in other goods to cover the price fluctuation).
Nevertheless, it remains exposed to any volatile movement in
commodity prices which can escalate counterparty risks as well as
extreme fluctuation in forex rates. In order to streamline the
process, manuals and corporate risk management policy has been put
in place to take care of internal control mechanisms, risk
assessment on the business proposals and systematic SOP for
undertaking various trades. MMTC has constituted a financial
management committee of directors (FMCOD) comprising of 3-4
directors including CMD for approval of all trade transactions
above INR2 crore. The trade on behalf of government accounts for
40% of the total volume while the balance 60% is for the private
players. In case of contract with private players there is always a
back to back contract and each leg of the trade is backed with a
letter of credit to secure the payment.
* Industry Prospects: MMTC plays a vital role in association with
the government of India in policy formulation to support Gems &
Jewellery industry in India and development of jewellery sector on
Pan-India basis. The government of India launched Gold monetization
scheme with a view to promote circulation of domestic gold within
the domestic economy to curb bullion imports and save forex outgo.
The demand for gold is expected to remain firm owing to its
traditional and religious importance. However, the near term
prospects for the gems and jewellery industry are not too bright
owing to expectations of rising prices of precious metals, economic
slowdown negatively impacting disposable incomes and leading to low
consumer sentiments. However, gradual recovery is expected from
Q3FY21 onwards, which marks the onset of the festival and wedding
season demand for which may not be at pre-covid levels owing to
fall in number of wedding days in this year and gold prices showing
no signs of receding. Long term prospects remain stable owing to
growing consciousness of branded jewellery, increasing purchasing
power in the Tier 2 & 3 cities, growing population of working
females, and increasing preference towards diamond jewelry.
Fertilizers: As per CARE, the underlying macros for the Indian
fertilizer industry look promising despite the coronavirus pandemic
and macroeconomic uncertainty. With surplus reservoirs levels,
record-high Kharif crop sowing, and plentiful rainfall during the
monsoon season, demand for the procurement of fertilizers is
expected to be promising. Sales increased sharply by 25.10% during
FY21 (from April till August) and going forward with the increase
in the liquidity of farmers, a good prospect for the Rabi season
coupled with the revival of the rural economy, demand for
fertilizers for the rest of FY21 seems optimistic for the industry.
The overall fertilizer production is expected to grow by 4-6% by
the end of FY21.
Liquidity: Stretched
The company has defaulted in repayment of two Short-term Loans
(STL) in September 2020 of INR300 crore and INR160 crore. Further,
the company also has requested its lenders for a one-time
restructuring of its loans as per the 'Resolution Framework for
COVID-19 related stress' announced by RBI on August 6, 2020. The
liquidity position of MMTC is stretched on account of increase in
debt which has primarily been extended as operational support to
NINL. Liquidity position of NINL is stretched resulting in delays
in debt servicing. Analytical approach: Guarantor's assessment on
standalone basis (after factoring in the support provided to its
subsidiaries and associates in the form of corporate guarantees and
loans and advances). Note: MMTC ltd has an associate company
Neelachal Ispat Nigam Ltd (NINL) with 49.78% shareholding however
it is in a completely different business and hence it has not been
consolidated, however, the impact of its investment has been
factored in the analysis. For standalone ratings, approach is
standalone.
About MMTC Limited
MMTC, a public sector undertaking, was incorporated on September
26, 1963, to facilitate foreign trade in India and canalize the
export and import of essential minerals and metals. It is under the
administrative control of the Ministry of Commerce & Industry, and
the Government of India (GOI) held an 89.93% stake in the company
as on June 30, 2019. MMTC deals with multiple products and markets.
The business operations of the company span across six major
divisions i.e. minerals, metals, precious metals, agro products,
fertilizers & chemicals, and coal & hydrocarbons. MMTC has also set
up a 15-MW wind energy mill in Karnataka. MMTC is one of the few
agencies, apart from banks, permitted by the GOI for import of
bullion in the country. Neelachal Ispat Nigam Limited (NINL); an
associate company of MMTC was incorporated in 1982 to set-up an
Integrated Steel Plant (ISP) to undertake the manufacture and sale
of pig iron. Originally, the main promoters were Industrial
Promotion & Investment Corporation of Orissa (IPICOL) and Orissa
Sponge Iron Ltd (OSIL). Subsequently, MMTC Limited, a majority
owned undertaking of Govt. of India, was inducted as the main
promoters since FY16 with an equity shareholding of 49.78%.
Further, the Cabinet Committee on Economic Affairs (CCEA) gave
'in-principle' approval for strategic disinvestment of 100% equity
of NINL on January 08, 2020, by selling the government's stake to a
strategic buyer which would be identified through a two-stage
auction procedure. The ratings have further been placed on credit
watch with developing implications on account of the announcement
by the company to divest its equity holding in NINL. CARE will
continue to monitor the developments in this regard and will take a
view on the ratings once the exact implications of the above on the
credit risk profile of the company are clear.
About Neelachal Ispat Nigam Limited
Neelachal Ispat Nigam Limited (NINL) was incorporated in 1982 to
set-up an integrated Steel Plant (ISP) to undertake the manufacture
and sale of pig iron. Originally, the main promoters were
Industrial Promotion & Investment Corporation of Orissa (IPICOL)
and Orissa Sponge Iron Ltd (OSIL). Subsequently, MMTC Limited, a
majority owned undertaking of Govt. of India, was inducted as the
main promoters since FY16 with an equity shareholding of 49.78%.
NINL's manufacturing unit is 5 CARE Ratings Limited Press Release
located at Kalinga Nagar Industrial complex, Dubri, Orissa having
1.1 Million Tonnes Per Annum (MTPA) capacity blast furnace as on
March 31, 2019.
NIKI AGRO: CARE Keeps D Debt Rating in Not Cooperating Category
---------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Niki Agro
Products Private Limited (NAPPL) continues to remain in the 'Issuer
Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 12.24 CARE D; ISSUER NOT COOPERATING;
Facilities Rating continues to remain
Under ISSUER NOT COOPERATING
CATEGORY
Detailed Rationale, Key Rating Drivers and Detailed description of
the key rating drivers
CARE had, vide its press release dated October 25, 2019, placed the
rating of NAPPL under the 'issuer non-cooperating' category as
NAPPL had failed to provide information for monitoring of the
rating as agreed to in its Rating Agreement. NAPPL continues to be
non-cooperative despite repeated requests for submission of
information through email letter dated July 31, 2020, October 19,
2020, October 22, 2020, November 24, 2020, January 12, 2021 and
numerous phone calls. In line with the extant SEBI guidelines, CARE
has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
Detailed description of the key rating drivers
At the time of last rating on October 25, 2019 the following were
the rating weaknesses (updated for the information available from
Registrar of Companies):
Key Rating Weaknesses
* Delay in debt servicing obligations: There have been overdrawals
in the cash credit facility and the account was classified as NPA.
Incorporated in 2001, NAPL is a Jalgaon based company promoted by
Mr. Kantilal Jain and Mr. Deepak Jain. The company is engaged in
the processing and trading of pulses comprising of Toor dal, Moong
dal, Urad dal, Masoor dal, Lobia, Chana, Rajma, dried peas etc.
NISHAKUNJ BUILDCON: Insolvency Resolution Process Case Summary
--------------------------------------------------------------
Debtor: Nishakunj Buildcon LLP
P-19, Pt. Din Dayal Upadhyay Nagar
Sukhitya Indore 452010
Madhya Pradesh
India
Insolvency Commencement Date: January 8, 2021
Court: National Company Law Tribunal, Indore Bench
Estimated date of closure of
insolvency resolution process: July 6, 2021
Insolvency professional: Sanjiv Vijay Naidu
Interim Resolution
Professional: Sanjiv Vijay Naidu
591, Orchid
Ruchi Life Escapes
Jatkhedi
Bhopal 462047
E-mail: sanjiv_naidu@hotmail.com
Last date for
submission of claims: February 8, 2021
PALAK FERRO: CARE Keeps D Debt Rating in Not Cooperating Category
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Palak Ferro
Alloys (PFA) continues to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 6.10 CARE D; ISSUER NOT COOPERATING;
Facilities Rating continues to remain
Under ISSUER NOT COOPERATING
CATEGORY
Detailed Rationale, Key Rating Drivers and Detailed description of
the key rating drivers
CARE had, vide its press release dated October 25, 2019, placed the
rating of PFA under the 'issuer noncooperating' category as PFA had
failed to provide information for monitoring of the rating as
agreed to in its Rating Agreement. PFA continues to be
non-cooperative despite repeated requests for submission of
information through email dated June 25, 2020, July 31, 2020,
October 19, 2020, November 24, 2020, January 12, 2021 and numerous
phone calls. In line with the extant SEBI guidelines, CARE has
reviewed the rating on the basis of the best available information
which however, in CARE's opinion is not sufficient to arrive at a
fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
Detailed description of the key rating drivers
At the time of last rating on October 25, 2019 the following were
the rating weaknesses:
Key Rating Weaknesses
* Delay in debt servicing obligations: As per the interaction with
the banker dated March 2, 2017, the account was classified as NPA
on account of overdrawals in cash credit facility.
Incorporated in 2008, Palak Ferro Alloys (PFA) is promoted by Rahul
Parwani and is currently engaged in manufacturing of ferro alloys
and manganese oxides. PFA products include ferro magnesium,
manganese oxide and di-oxide, silico magnesium, ferro manganese low
carbon.
PATSPIN INDIA: CARE Keeps D Debt Ratings in Not Cooperating
-----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Patspin
India Limited (PIL) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 68.36 CARE D; ISSUER NOT COOPERATING;
Facilities Rating continues to remain
Under ISSUER NOT COOPERATING
CATEGORY
Long Term/ 7.00 CARE D/CARE D; ISSUER NOT
Short Term COOPERATING; Rating continues
Bank Facilities to remain under ISSUER NOT
COOPERATING category
Long Term Bank 143.80 CARE D; ISSUER NOT COOPERATING;
Facilities Rating continues to remain
Under ISSUER NOT COOPERATING
CATEGORY
Detailed Rationale & Key Rating Drivers
CARE had vide its press release dated March 11, 2020 placed the
ratings of PIL under the issuer non cooperating category as PIL had
not paid the surveillance fees for the rating exercise as agreed to
in its rating agreement. PIL continues to be non-cooperative
despite repeated requests for submission of information through
e-mails, phone calls and a letter dated January 13, 2021. In line
with the extant SEBI guidelines,
CARE has reviewed the rating on the basis of the best available
information which, however, in CARE's opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Detailed description of the key rating drivers
At the time of last rating on March 11, 2020 the following were the
rating strength and weakness (updated for the information available
from stock exchange).
Key Rating Weaknesses
* Ongoing delays in debt servicing: During FY20, the company
reported net loss of INR24 crore on total income of INR394 crore.
On account of continuous losses over the years with inadequate cash
accruals, there have been ongoing delays in servicing of debt
obligations.
Patspin India Limited (PIL) is part of Kerala based GTN group. GTN
group was established by Late Mr. M.L. Patodia in 1960. GTN group
has presence in spinning yarn, knitting, processing and garmenting.
Primary business activity of PIL is production and sale of cotton
yarn (counts ranging from 20s to 100s). In addition to this, PIL is
also engaged in value-adding activities like TFO (Two-For-One)
twisting and gassing of textile yarn. Incorporated in the year
1991, as on March 31, 2020, the total capacity of PIL stood at
114,000 spindles.
RAGHAV INDUSTRIES: CARE Lowers Rating on INR20cr LT Loan to D
-------------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Raghav Industries Limited (RIL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 20.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category and Revised from
CARE BB-; Stable
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated December 5, 2019 placed the
rating(s) of RIL under the 'issuer non-cooperating' category as RIL
had failed to provide information for monitoring of the rating. RIL
continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and email
dated December 3, 2020. In line with the extant SEBI guidelines,
CARE has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
Detailed description of the key rating drivers
The revision in the rating takes into account of ongoing delays in
interest servicing of cash credit account and presently the account
has been classified under SMA-II category by one of its lenders.
Key Rating Weakness
* Ongoing delays: There were on ongoing delays in interest
servicing of cash credit account and presently the account has been
classified under SMA-II category by one of its lenders.
Tamil Nadu based Raghav Industries Limited (RIL) was incorporated
in November 1987 by Mr. Rajendra Kumar Kanodia (Director). RIL is
currently being managed by him and his family members who are also
directors of the company. The company is engaged in the manufacture
of textile yarn in polyester, viscose, cotton, and various blends,
and trading in polyester staple fibre (PSF) and viscose staple
fibre with branches located in Mumbai, Surat and Ludhiana and
supplies the yarn to local weavers throughout the country. The
company has availed moratorium announced by RBI for its bank
facilities amid COVID-19 outbreak.
RAMDEV COTTON: CARE Keeps D Debt Rating in Not Cooperating
----------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Ramdev
Cotton Industries (RCI) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 9.50 CARE D; ISSUER NOT COOPERATING;
Facilities Rating continues to remain
Under ISSUER NOT COOPERATING
CATEGORY
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated January 3, 2020, placed the
rating of RCI under the 'Issuer non-cooperating' category as RCI
had failed to provide information for monitoring of the ratings as
agreed to in its rating agreement. RCI continues to be
non-cooperative despite repeated requests for submission of
information through e-mails, phone calls and a letter December 2,
2020, December 3, 2020, December 4, 2020, December 7, 2020,
December 21, 2020, etc. In line with the extant SEBI guidelines,
CARE has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above ratings.
Detailed description of the key rating drivers
At the time of last rating on January 3, 2020, following was the
key rating weakness.
Key Rating Weakness
* On-going delay in debt servicing: RCI has been irregular in
servicing its debt obligation due to weak liquidity position of the
firm.
Rajkot based Ramdev Cotton Industries (RCI) was established in 2009
as a partnership firm by Mr. Ashwinbhai M. Chovatiya, Mr.
Jagdishbhai M. Sakaria, Mr. Kishorbhai N. Sakaria and Mr. Ramjibhai
K. Sakaria. All the partners are actively involved in the
management of RCI as functional heads. RCI is engaged in business
of cotton ginning & pressing to produce cotton bales and cotton
seeds with an installed capacity to produce 6048 MTPA (Metric
Tonnes per Annum) for cotton bales and 10,500 MTPA for cotton seeds
as on March 31, 2017.
SAR SENAPATI: CARE Keeps D Debt Rating in Not Cooperating
---------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Sar
Senapati Santaji Ghorpade Sugar Factory Limited (SSSGSFL) continues
to remain in the 'Issuer Not Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 265.97 CARE D; ISSUER NOT COOPERATING;
Facilities Rating continues to remain
Under ISSUER NOT COOPERATING
CATEGORY
CARE had, vide its press release dated March 9, 2017 placed the
rating of SSSGSFL under the 'issuer non-cooperating' category as
SSSGSFL had failed to provide information for monitoring of the
rating. SSSGSFL continues to be non-cooperative despite repeated
requests for submission of information through a letter dated
December 8, 2020, phone calls and emails dated December 23, 2020
and December 24 2020. In line with the extant SEBI guidelines, CARE
has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
Detailed description of the key rating drivers
At the time of last rating on December 11, 2019, following was the
rating weakness (updated for the audited result of FY19 available
with Registrar Of Companies).
Key Rating Weaknesses
* Delays in debt servicing: As per the audit report of FY19, there
are delays in making interest payment.
Incorporated on February 19, 2011, SSSGSFL is promoted by Mr.
Hasanrao Mushrif, chief promoter, along with Mr. Sajid Hasan
Mushirf, Managing Director (MD). The company is engaged in
manufacturing of sugar & related products. The manufacturing
facility is located at Kolhapur with crushing capacity of 4,800
tonnes of cane crushed per day (TCD), 30 Kilo Liters per Day (KLPD)
distillery and bagasse fired co-generation unit of 22 mega-watts
(MW).
SARAF AGENCIES: CARE Lowers Rating on INR97.18cr LT Loan to D
-------------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Saraf Agencies Private Limited (SAPL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 97.18 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category and Revised from
CARE B; Stable
Long Term/Short 55.00 CARE D/CARE D; ISSUER NOT
Term Bank COOPERATING; Rating continues
Facilities to remain under ISSUER NOT
COOPERATING category and
Revised from CARE B; Stable/
CARE A4; Stable
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated August 12, 2020, placed the
ratings of SAPL under the 'issuer non-cooperating' category as SAPL
had failed to provide information for monitoring of the ratings and
had not paid the surveillance fees for the rating exercise as
agreed to in its Rating Agreement. SAPL continues to be
non-cooperative. In line with the extant SEBI guidelines, CARE has
reviewed the rating on the basis of the best available information
which however, in CARE's opinion is not sufficient to arrive at a
fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above ratings.
The ratings have been revised on account of delays in debt
servicing by the company.
Detailed description of the key rating drivers
Key Rating Weaknesses
* Delays in servicing of debt obligations: The company had availed
moratorium on term loan and deferment of interest on working
capital facilities from March 2020 to August 2020 in terms of the
Covid-19 Regulatory Package of The Reserve Bank of India. However,
after the end of moratorium, there were delays in debt servicing
which were subsequently regularized in December 2020. The company
has applied for One Time Restructuring (OTR) under the Resolution
Framework for COVID-19 related stress and the same has been invoked
in December 2020.
SAPL was originally incorporated as Eastern Steel Forgings Pvt.
Ltd. in June, 1965 and subsequently its name was changed to its
present name in August, 2003. SAPL is a part of the Forum Group
based out of Kolkata. The group is primarily engaged in the
business of real estate development and caters to both the
commercial and residential segments in Eastern India. It has
successfully completed several projects in Eastern India. SAPL was
allotted 259.94 acres of land at Chatrapur, Ganjam District in
Odisha by Odisha Government in 2009 for developing a sector
specific Special Economic Zone (SEZ) and setting up manufacturing
facilities for various titanium products. SAPL has used 39 acres of
land for setting up a high purity titanium slag plant with a
capacity of 36,000 ton per annum (TPA) with 4 furnaces and a high
purity pig iron plant (by-product) with a capacity of 20,000 TPA.
Two furnaces out of four commenced operation in March 2017. The
third furnace was operational from April 15, 2019 and the fourth
furnace is yet to be operational.
SEA BLUE: CARE Assigns C Issuer Rating
--------------------------------------
CARE Ratings has assigned 'CARE C' Issuer rating to Sea Blue
Shipyard Limited (SBS).
Detailed Rationale & Key Rating Drivers
The issuer rating assigned to SBS are tempered by delays in debt
servicing in the past, small scale of operations amidst stiff
competition, working capital intensive nature of operations and
stressed liquidity position.
The issuer rating however derive strength from experienced promoter
in ship building industry, well-established business relations with
reputed customers and moderate order book position, turn around in
net profits during FY20 (April 1-March 31) along with comfortable
capital structure and debt coverage indicators.
Key Rating Sensitivities
Positive Factors
* Increase in the scale of operation with a total operating income
exceeding INR40 crore with and maintaining profitability margins
from the present level on a sustained basis
* Improvement in the liquidity position with current ratio
exceeding 1.50x on a sustained basis
Negative Factors
* The Issuer Ratings would be subjected to overall gearing will
remain below 0.75 times and debt coverage indicators with interest
coverage ratio reaching below 2x and total debt to gross cash
accruals exceeding 4x on a sustained basis.
* Deterioration in the collection period and exceeding 120 days on
a sustained basis
Key rating weaknesses
* Delays in debt servicing in the past: SBI has classified SBS into
NPA category on July 4, 2020 on account of delays in debt
servicing. Despite cash losses reported during FY18 & FY19, the
company was continued to repay its debt obligations with delays and
irregularities through the realization of receivables from its
debtors. In addition, during FY20, the company has reported cash
profit of INR6.10 Crore. All aforesaid facts enabled the entity to
repay its debt obligations. Further, the company has closed all its
liabilities with SBI through one time settlement scheme. The
company has settle the loans by arranging the funds by the way of
rights issues, unsecured loans from promoters, receivables from its
clientele, and partial refinancing from NBFC.
* Small scale of operations amidst stiff competition: The company
has reported smaller size of operations, however scaling up during
the review period i.e. FY18-FY20 at a CAGR of 24.58% .The total
operating income stood small at INR15.66 crore in FY20 however
improved from INR3.97 Crore in FY19. SBS faces huge competition
from strong industry major like Cochin Shipyard Limited located at
Cochin port with strong technical prowess and other small
unorganized players for afloat repairs.
* Working capital intensive nature of operations: Operations of the
company are working capital intensive mainly on account of funds
being blocked in receivables (avg. debtor's period is 120 days in
FY20 vis-à-vis 737 days in FY19). Normally a small ship building
process takes around 18 months to complete and the payment is
received stage wise from clients. For manufacturing and sale of
products, SBS follow stage wise payment for projects with long
tenure. Once the bill is raised its takes an average of 60 days
tenure for collection from government entity and 30 days tenure
from private entity. At times, the collection goes beyond 60 days
from government entity due to inspection and delay in passage of
bills. Due to long tenure and delay in payment of bills raised has
resulted in elongation of average collection period which was 120
days in FY20; however the same has improved from previous year (737
days in FY19). As on March 31, 2020, out of the total debtors, 42%
were due for more than 180 days. SBS follows Just-in-time (JIT)
mechanism for ship building and manufacturing of goods, however the
company is required to hold minimum set of inventory required for
ship repair and other services, where the average inventory period
stood at 47 days in FY20. The Company holds inventory of low value
spares and consumables in its container mainly for repairing
business and thus inventory period stood low. Furthermore, company
receives credit period from creditors of two months which resulted
in average creditor's period of 66 days in FY20 vis-a-vis 70 days
in FY19. On account of aforesaid fact, operations are relied highly
on working capital bank borrowings, marked by the operating cycle
of the company stood at 101 days in FY20 as against 762 days in
FY19.
Key Rating strengths
* Experienced promoter in ship building industry and long track
record of operations: The promoters have good experience in ship
building and repairing industry. Mr. OC John, Promoter and Managing
Director, is a post graduate in commerce and a graduate in law. He
joined a ship building and repairing firm in Kochi in 1983 and
resigned from the firm in 2002 as Chief Executive Officer and
promoted SBS in 2003 along with four other technocrats. Mr. E
Tojen, promoter and director, is a marine engineer by profession,
has 21 years of experience in shipping industry and merchant navy.
Further the entity derives support from well qualified
professionals business viz Mr. Jilish G Kanippilly (Director HR &
IT), Mr. P.G. Vinayan (Chief Finance Officer), Ms. R. Raji (Company
Secretary with adequate experience relevant line of business. The
entity is operating since 2003 and thereby registering long track
record of operations.
* Well-established business relations with reputed customers and
moderate order book position: Over the last few years the company
is able to registered as well established player in manufacturing
of ship parts and other shipping equipments business for reputed
clients such as Goa Ship Yard Ltd, Indian Navy Coast Guard,
Shipping Corporation of India, Dredging Corporation of India,
Cochin Shipyard Limited among others. Furthermore the company is
maintainaing long term with reputed customers as its operating more
then a decade. SBSL has an order book of INR16.06 crore as of
December 31, 2020 with average execution tenure from 1 month to 3
years.
* Some of the key orders are Improvement of Thottappally spillway,
wooden deck renewal: Ins Tarangini, complete dry docking and Lay-up
repairs, dry docking and allied repairs-SRP Balshil, Performing Dry
docking of barge FACT Pragatiyan and expected to receive more
orders in the remaining period of this fiscal year.
* Turn around in net profits during FY20 along with comfortable
capital structure and debt coverage indicators: The company has
reported net losses for the two fiscals ended FY18 and FY19 due to
high operational costs (material and employee costs). However the
company has reported a net profit of INR4.57 crore during FY20 on
account of revenue realized from new work orders received for ship
repairments, and executed during said period coupled with
offsetting operational costs. The company's capital structure
remained comfortable marked by the overall gearing stood at 0.26x
as at March 31, 2020 as against 0.43x as at March 31, 2019. As on
March 31, 2020, debt profile stood at 8.12 Crore as against good
networth base of INR31.69 Crore. The interest coverage stood
negative during FY18 & FY19 on account of operating losses reported
during the period by the company. The operating performance has
improved in FY20, and has enabled the company to report sufficient
operating profit to service the interest obligations of the
company. The same stood at 16.49x during FY20. Similarly the TD/GCA
though stood at negative during FY18 and FY19 owing to the cash
losses reported, it improved and stood at comfortable at 1.33x
during FY20 due to significant cash profits earned by the company
coupled with y-o-y decline in total debt levels.
Liquidity: stressed
The current ratio and quick ratio stood weak at 0.69x and 0.61x
respectively as on March 31, 2020 (vis-àvis 0.47x and 0.41x
respectively as on March 31, 2019). The cash and bank balances
stood at INR0.22 Crore as on March 31, 2020. However, the loan
facilities with SBI has been closed and there are no bank
borrowings. With the cash accruals envisaged to be generated to be
satisfactory which will aqdequate to meet out the operations going
forward. Company has not availed moratorium for its bank facilities
amid COVID-19 announced by RBI.
Sea Blue Shipyard Limited (SBS), incorporated on December 8, 2003,
is an ISO:9001-2008 certified public limited company engaged in
ship building, ship repairs, general engineering, wharfage and
berthing, tug boat services and hire charges activities. Initially
the company was established under the name of Sea Blue Marine
Engineering (Pvt.) Ltd. and later converted into a Public Limited
Company in 2009, with its new name SBS. SBS has a yard, located at
Vypin, having necessary infrastructure facilities like 200 meters
long wharfs, slipways and workshop for undertaking above works. SBS
has a branch office in Goa, established during 2009 with a view to
expand its business activities along the Western Coastal belt. It
undertakes contractual work of Goa Ship Yard Ltd, Indian Navy Coast
Guard, Shipping Corporation of India, Dredging Corporation of
India, Cochin Shipyard Limited etc. and other private agencies
operating in the Western region for specialized jobs. SBS is
registered with Navel Ship Repair Yard, Kochi for undertaking all
types of repairs of their vessels which extended upto November
2023.
SPERRY INTERNATIONAL: CARE Keeps D Debt Rating in Not Cooperating
-----------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Sperry
International Pvt Ltd (SIPL) continues to remain in the 'Issuer Not
Cooperating' category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Short Term Bank 16.80 CARE D; ISSUER NOT COOPERATING;
Facilities Rating continues to remain
Under ISSUER NOT COOPERATING
CATEGORY
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated Jan. 6, 2020, maintained the
rating(s) of SIPL under the 'issuer non-cooperating' category as
SIPL had failed to provide information for monitoring of the
rating. SIPL continues to be non-cooperative despite repeated
requests for submission of information through e-mail
communications/ letters dated Jan. 8, 2021, Jan. 7, 2021, Jan. 5,
2021, Jan. 4, 2021 and numerous phone calls. In line with the
extant SEBI guidelines, CARE has reviewed the rating on the basis
of the best available information which however, in CARE's opinion
is not sufficient to arrive at a fair rating. Further, banker could
not be contacted for due diligence.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
The rating has been reaffirmed by taking into account
non-availability of information and no due-diligence conducted due
to non-cooperation by Sperry International Pvt Ltd (SIPL) with
CARE'S efforts to undertake a review of the rating outstanding.
CARE views information availability risk as a key factor in its
assessment of credit risk. Further, banker feedback is also not
available.
The rating on the company's bank facilities will now be denoted as
CARE D; ISSUER NOT COOPERATING.
Detailed description of the key rating drivers
There have been instances of delays in debt servicing due to
stressed liquidity position.
Sperry International Private limited was incorporated in 2004 by
the name of Sperry Infrastructure and Developers Pvt Ltd and was
changed to the present name in July, 2012. Mr. Vikram Jain is the
Managing Director of the company.
SPERRY PLAST: CARE Keeps D Debt Ratings in Not Cooperating
----------------------------------------------------------
CARE Ratings said the ratings for the bank facilities of Sperry
Plast Ltd (SPL) continue to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 141.07 CARE D; ISSUER NOT COOPERATING;
Facilities Rating continues to remain
Under ISSUER NOT COOPERATING
CATEGORY
Short Term Bank 26.50 CARE D; ISSUER NOT COOPERATING;
Facilities Rating continues to remain
Under ISSUER NOT COOPERATING
CATEGORY
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated Jan. 6, 2020, maintained the
rating(s) of SPL under the 'issuer noncooperating' category as SPL
had failed to provide information for monitoring of the rating. SPL
continues to be noncooperative despite repeated requests for
submission of information through e-mail communications/ letters
dated Jan. 8, 2021, Jan. 7, 2021, Jan. 5, 2021, Jan. 4, 2021 and
numerous phone calls. In line with the extant SEBI guidelines, CARE
has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating. Further, banker could not be contacted for
due diligence.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating(s).
The rating has been reaffirmed by taking into account
non-availability of information and no due-diligence conducted due
to non-cooperation by Sperry Plast Ltd (SPL) with CARE'S efforts to
undertake a review of the rating outstanding. CARE views
information availability risk as a key factor in its assessment of
credit risk. Further, banker feedback is also not available. The
rating on the company's bank facilities will now be denoted as CARE
D; ISSUER NOT COOPERATING.
Detailed description of the key rating drivers
There have been instances of delays in debt servicing due to
stressed liquidity position.
Sperry Plast Ltd (SPL) was incorporated in 1992 by Mr. Vikram Jain
and is closely held company. SPL has its presence across three
divisions' viz. Moulding Division, Compounding Division and
Machinery Division. SPL has four production plants located in
Haryana, Greater Noida, Chennai and Jammu. The main products
include Thermo plast products (sold under the brand name of
SPERENE), Moulded products and various Injection moulding machines.
The key segments to which the company caters include: Footwear &
Sports, Automotive and Appliances.
SPM WEAVING: CARE Lowers Rating on INR15cr LT Loan to D
-------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Sri SPM Weaving Mills (SPM), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 15.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category and Revised from
CARE C; Stable
Detailed Rationale & Key Rating Drivers
CARE has conducted the review on the basis of best available
information and had classified SPM as 'Non Cooperating' vide its
press release dated December 15, 2020. Furthermore, CARE's rating
on Sri SPM Weaving Mills bank facilities will now be denoted as
CARE D Issuer Not Cooperating* on the basis of best available
information.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
Detailed description of the key rating drivers
The revision in the rating takes into account of ongoing delays as
per publically available information and non-availability of
requisite information due to non- cooperation by SPM with CARE's
efforts to undertake a review of the outstanding ratings as CARE
views information availability risk as key factor in its assessment
of credit risk profile.
Key Rating Weaknesses
* Ongoing delays: As per the publically available information there
are ongoing delays in debt servicing of interest.
Tamil Nadu based, Sri SPM Weaving Mills (SPM) was established in
the year 2015 as a partnership firm. SPM has its registered office
and plant located at M.S. Mangalam (Village), Erode, Tamilnadu with
the area covering 3.75 acres. The firm is engaged in manufacturing
of grey fabric.
SULOCHANA EXPORT: CARE Keeps D Debt Rating in Not Cooperating
-------------------------------------------------------------
CARE Ratings said the rating for the bank facilities of Sulochana
Export (SE) continues to remain in the 'Issuer Not Cooperating'
category.
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 5.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category and Revised from
CARE B; Stable
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated February 18, 2020 placed the
rating(s) of SE under the 'issuer noncooperating' category as SE
had failed to provide information for monitoring of the rating. SE
continues to be non-cooperative despite repeated requests for
submission of information through e-mails, phone calls and email
dated January 13, 2021. In line with the extant SEBI guidelines,
CARE has reviewed the rating on the basis of the best available
information which however, in CARE's opinion is not sufficient to
arrive at a fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
Detailed description of the key rating drivers
The revision in the rating takes into account of ongoing delays in
servicing the interest and instances of overdraws by more than 30
days for the cash credit facility availed by the firm.
Key Rating weaknesses
* Ongoing delays in servicing debt obligations: As confirmed by the
lender, there are ongoing delays in servicing the interest and
instances of overdraws by more than 30 days for the cash credit
facility availed by the firm due to a stressed liquidity position.
Sulochana Exports (SE) was established in 2015 as a partnership
firm and promoted by Mr. Madeswaran and his family members. The
firm is engaged in manufacturing of cotton fabrics. The
manufacturing unit is spread in total area of 45000 Sq. ft. located
at Tiruchengode, Namakkal District (Tamil Nadu). SE purchases its
key raw material (cotton yarn) from domestic market in Erode
District, which is famous for cotton production in south India. The
firm sells the cotton fabrics to the customers located at Tamil
Nadu, Andhra Pradesh and Gujarat. The firm has an installed
capacity of 15000 meters per day. The firm is utilizing around 85%
of capacity per day. The lender has indicated that the firm has
availed moratorium from March to August 2020 amid covid-19 RBI
guidelines.
SUMIT TEXSPIN: CARE Lowers Rating on INR75cr LT Loan to D
---------------------------------------------------------
CARE Ratings has revised the ratings on certain bank facilities of
Sumit Texspin Private Limited (STPL), as:
Amount
Facilities (INR crore) Ratings
---------- ----------- -------
Long Term Bank 75.00 CARE D; ISSUER NOT COOPERATING
Facilities Rating continues to remain
under ISSUER NOT COOPERATING
category and Revised from
CARE B+; Stable
Detailed Rationale & Key Rating Drivers
CARE had, vide its press release dated February 28, 2020,
classified the rating of STPL under the 'issuer non-cooperating'
category as STPL had failed to provide information for monitoring
of the rating. In line with the extant SEBI guidelines, CARE has
reviewed the rating on the basis of the best available information
which however, in CARE's opinion is not sufficient to arrive at
fair rating.
Users of this rating (including investors, lenders and the public
at large) are hence requested to exercise caution while using the
above rating.
The revision in the rating is on account of ongoing delays in debt
servicing. CARE also takes cognizance of the company availing the
moratorium granted by its lender as a Covid relief measure (as
permitted by the Reserve Bank of India) for the period from March
2020 to August 2020 on the interest component of its fund-based
limit and installments of term loan.
Detailed description of the key rating drivers
Key Rating Weaknesses
* Delays in debt servicing: As confirmed by the banker, there are
ongoing delays in term debt servicing as the repayments due for the
months of October 2020, November 2020 and December 2020 are still
unpaid.
Sumit Texspin Pvt. Ltd. (STPL), incorporated in June, 2001, is
based out of Bhilwara and is engaged in the business trading of
Fabrics and since last 15 years. Till March 31, 2017, company is
mainly involved in Yarn trading and investment activities. STPL has
purchased the defunct units (spinning and weaving plants) of Suzuki
Textile Ltd. (STL)) as per the agreement dated March 14, 2017 at
the consideration of INR70 crore for all movable and immovable
fixed assets including land, buildings, plant and machinery and
miscellaneous assets lying in the unit.
VIKSUN STEEL: Insolvency Resolution Process Case Summary
--------------------------------------------------------
Debtor: Viksun Steel & Alloy Private Limited
16, Ashish Estate
Nr. Jagannath Estate
Rakhial, Ahmedabad 380023
Gujarat
Insolvency Commencement Date: January 27, 2021
Court: National Company Law Tribunal, Ahmedabad Bench
Estimated date of closure of
insolvency resolution process: July 26, 2021
Insolvency professional: Mr. Vinod Tarachand Agrawal
Interim Resolution
Professional: Mr. Vinod Tarachand Agrawal
204, Wall Street-1
Near Gujarat College
Ellis bridge
Ahmedabad 380006
E-mail: ca.vinod@gmail.com
cirp.vsapl@gmail.com
Last date for
submission of claims: February 10, 2021
VRX HOSPITALITY: Insolvency Resolution Process Case Summary
-----------------------------------------------------------
Debtor: M/s VRX Hospitality Services Private Limited
F-101, Mauryansh Elanza
Shyamal Cross Rd
Nr. Parekh Hospital
Satellite, Ahmedabad
GJ 380015
IN
Insolvency Commencement Date: January 18, 2021
Court: National Company Law Tribunal, Ahmedabad Bench
Estimated date of closure of
insolvency resolution process: July 17, 2021
(180 days from commencement)
Insolvency professional: Mr. Anish B. Shah
Interim Resolution
Professional: Mr. Anish B. Shah
D/413, Shiromani Complex
Opp. Ocean Park
Nehrunagar, Satellite Road
Ahmedabad 380015
E-mail: anishshahcs@gmail.com
cirp.vrx@gmail.com
Last date for
submission of claims: February 6, 2021
=================
I N D O N E S I A
=================
MNC INVESTAMA: Gets Approval for Distressed Debt Plan
-----------------------------------------------------
Tassia Sipahutar at Bloomberg News reports that PT MNC Investama,
an Indonesian media and property conglomerate that has a tie-up
with former President Donald Trump's company, said it received
court approval for its debt plan after agreeing to lower its
standalone borrowings by 65%.
Bloomberg relates that the approval by the High Court of Singapore
paves the way for the company founded by tycoon Hary Tanoesoedibjo
to issue new notes and shares for investors of its distressed bonds
as it restructures its debt.
Under the agreement, MNC Investama will cap its debt at $81
million, it said. Holders of its distressed $231 million bonds will
decide whether to accept new shares or new notes, it said in a
statement, the report relays.
At least 65% of bondholders are expected to convert their bonds to
new shares, which will be issued within 12 months of the plan's
effective date, the company said. MNC Investama's standalone equity
will increase about 18% to at least IDR14.5 trillion ($1 billion),
it said, according to Bloomberg.
Other holders can choose to exchange their bonds for new five-year
notes issued with an annual fixed coupon of 1%, with an additional
variable coupon based on the cash dividend income MNC Investama
receives from units PT Global Mediacom and PT MNC Kapital
Indonesia.
"There will be direct financial benefits such as the reduction of
standalone debt, capital strengthening, and lower finance costs
borne by the company," Bloomberg quotes MNC Investama President
Director Darma Putra as saying in the statement.
The debt arrangement will allow the company to grow faster and
continue its digitalization plan for its business units, Putra
said.
According to Bloomberg, Tanoesoedibjo had previously sought to
extend the maturity of the company's dollar bonds, which were due
in 2021, as the pandemic strained finances.
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.
PT SAKA ENERGI: S&P Withdraws 'B' Long-Term Issuer Credit Rating
----------------------------------------------------------------
S&P Global Ratings withdrew its 'B' long-term issuer credit rating
on PT Saka Energi Indonesia (Saka) at the company's request. S&P
also withdrew its 'B' long-term issue rating on Saka's senior
unsecured notes. The outlook on the Indonesia-based oil and gas
exploration and production company was negative at the time of the
withdrawal.
=========
J A P A N
=========
JAPAN AIRLINES: Sees Worse Net Loss This Fiscal Year
----------------------------------------------------
Shiho Takezawa at Bloomberg News reports that Japan Airlines Co.
expects a worse loss this fiscal year than previously forecast as
the coronavirus wreaks havoc on international demand for travel.
The nation's flag carrier is now forecasting a net loss of JPY300
billion ($2.9 billion) for the 12 months ending March 31 and sales
of JPY460 billion, Bloomberg discloses citing an exchange filing
Feb. 1.
For the third quarter, JAL reported a net loss of JPY51.5 billion,
wider than the JPY36.9 billion estimated by analysts. Sales for the
period were JPY161.8 billion versus the JPY170 billion forecast,
Bloomberg relates.
According to Bloomberg, airlines in Japan are facing a grim outlook
as Covid-19 cases rise and the nation extends its state of
emergency. Surging virus numbers in Asia's second-biggest economy
could have limited JAL's traffic in the third quarter to just 27%
of pre-pandemic levels, Bloomberg Intelligence analysts said last
month.
Prime Minister Yoshihide Suga declared a state of emergency in
major cities including Tokyo in January, after the country's "Go
To" domestic tourism push aggravated infections, Bloomberg notes.
Overseas visitors meanwhile are almost non-existent, down 97.7% in
December from a year earlier, according to Japan's national tourism
organization.
Bloomberg relates that Japan is also still yet to reach a
conclusion on whether to go ahead with the Olympics later this
year. While Thomas Bach, president of the International Olympic
Committee, and the Japanese government are pledging to forge ahead,
an NHK poll shows that almost 80% of people think the games should
be canceled or postponed.
Bloomberg says the nation's other big airline, ANA Holdings Inc.,
on Jan. 29 reported a quarterly operating loss that was slightly
narrower than analysts' estimates. ANA's pledge to get back into
the black next fiscal year looks challenging considering the
pandemic shows no sign of abating.
JAL was previously forecasting a net loss of as much as JPY270
billion this fiscal year, its first slide into the red since
emerging from one of the country's biggest-ever bankruptcies,
Bloomberg notes.
Japan Airlines Co., Ltd. engages in scheduled and non-scheduled air
transport, aerial work, and aircraft maintenance services. It
operates through the Air Transport and Others segments. The Air
Transport segment engages in air transport business, airport
passenger service, ground handling service, maintenance service,
cargo service, passenger transport service and airport area
business. The Others segment includes travel planning and sales.
=================
S I N G A P O R E
=================
CONTINUUM ENERGY: Moody's Rates New USD Sr. Unsec. Notes '(P)Ba2'
-----------------------------------------------------------------
Moody's Investors Service has assigned a (P)Ba2 rating to the
proposed six-year USD senior unsecured notes to be issued by
Continuum Energy Levanter Pte. Ltd.
The outlook on the rating is stable.
Continuum Energy Levanter will use the proceeds from the USD notes
with a partial amortizing debt structure to subscribe to six-year
non-convertible debentures (NCDs) to be issued by six restricted
subsidiaries in India, which are either wholly-owned or
majority-owned by Continuum Green Energy Ltd. Singapore (CGEL)
through Continuum Green Energy (India) Pvt Ltd. At USD bond
maturity, the restricted subsidiaries will redeem the NCDs to
Continuum Energy Levanter, and the proceeds will be used to repay
the USD bond principal.
The restricted subsidiaries in India will use the proceeds from the
NCDs to refinance their existing debt, pay related transaction
costs, repay outstanding working capital loans and fund cash needs
for general corporate purposes.
The holders of the USD notes will be supported by several
structural features that establish a close linkage between the
credit profiles of Continuum Energy Levanter and the restricted
subsidiaries in India.
Such features encompass (1) Continuum Energy Levanter's status as
the subscriber of the restricted Indian subsidiaries' NCDs, with a
matching repayment structure between the proposed USD notes and the
NCDs; (2) internal cash-fund debt service reserve; (3) a mandatory
cash sweep and scheduled debt amortization likely reducing the USD
notes by 45%-47% until the maturity of the notes; (4) a
trustee-managed cash flow waterfall; (5) a collateral package; and
(6) covenants with certain carve outs.
Because of these features, the rating of the USD notes is closely
linked to the credit profile of Continuum Restricted Group 1 (RG1)
comprising Continuum Energy Levanter and the six restricted
subsidiaries in India.
The wind and solar projects of the restricted subsidiaries in India
are all located in India (Baa3 negative), and each restricted
subsidiary will be liable as the co-issuer for a portion of the
NCDs and as a guarantor for the balance. The six wholly or
majority-owned subsidiaries in Continuum RG1 include: (1) Bothe
Windfarm Development Private Limited; (2) DJ Energy Private
Limited; (3) Uttar Urja Projects Private Limited; (4) Renewable
Trinethra Private Limited; (5) Trinethra Wind & Hydro Power Private
Limited; and (6) Watsun Infrabuild Private Limited.
The provisional status of the rating will be subject to Moody's
review of the final transaction documents.
RATINGS RATIONALE
"The (P)Ba2 rating assigned to the proposed USD notes reflects
Continuum RG1's diversification of its geographic operations and
customer base, along with its improving financial profile under the
scheduled principal repayment and a mandatory cash sweep mechanism,
says Mic Kang, a Moody's Vice President and Senior Credit Officer.
Continuum RG1's geographic diversification will help the RG1
continue to generate power from its wind and solar power plants
without material variance, thereby allowing it to generate adequate
operating cash to service its debt obligations.
Moody's expects Continuum RG1's financial profile to improve over
the tenor of the USD notes, given that its senior debt will decline
under the scheduled debt amortization and the mandatory cash sweep.
The declining senior debt will also likely improve Continuum RG1's
financial buffer against variable commercial and industrial
tariffs.
Moody's projects Continuum RG1's average adjusted FFO/senior debt
to stay at 10%-12% during the tenor of the notes. The ratio will
steadily improve to low-to-mid teens from high-single digit
percentages during the tenor of the USD notes, mainly because of a
gradually declining USD bond balance. Moody's forecasts Continuum
RG1's debt service coverage ratio (DSCR) will remain within the
range of 1.5x-1.7x.
These metrics are within Moody's expectation for a Ba2 rating.
Nevertheless, Continuum RG1's credit quality is constrained by its
high exposure to competition and price risk in Gujarat and Tamil
Nadu, which can weaken the RG1's cash flow visibility. Power
generated from the remaining 49% is sold to commercial and
industrial customers (C&I) at variable tariffs with shorter lock-in
periods of one to three years under power purchase agreements
(PPA).
However, Moody's expects Continuum RG1 to remain resilient to
competition and repricing risk over the next 12-18 months, mainly
because of its customer diversity comprising around 89 C&I
customers in Gujarat and Tamil Nadu.
Continuum RG1's credit quality also factors in the RG1's exposure
to financially weak state-owned distribution companies (Discoms) in
Maharashtra and Madhya Pradesh, whose payment delays have required
working capital needs. The RG1 sells power generated from around
51% of its capacity to the Discoms at fixed tariffs under long-term
PPAs.
Morgan Stanley, the major project sponsor since 2012, plans to
partly or fully monetize its majority stake in CGEL, held by the
Morgan Stanley-managed Fund, during the tenor of the USD notes,
subject to availability of potential investors and satisfactory
terms. This move creates uncertainty around the major sponsor
profile of Continuum RG1, which is partly tempered by the
experienced management team.
Moody's assesses that the mandatory cash sweep — along with
CGEL's growing asset portfolio, which can be input into the RG1 to
support its refinancing, if needed, — mitigates refinancing risk.
Such refinancing risk can emerge particularly if repricing risk or
contract renewal risk, or both, increase during the tenor of the
notes.
The rating of the proposed USD notes also takes into account
Continuum Energy Levanter's plan to hedge its foreign exchange (FX)
exposure through call-spread hedges for all principal, coupon and
mandatory cash sweep payments based on from spot to at least
at-the-money-forward rates throughout the tenor of the notes.
However, the principal, coupon and mandatory cash sweep payments
will be hedged only to these levels during the amortization period
under the current plan, although CGEL will likely ensure that
Continuum Energy Levanter will secure funds sufficient to serve its
debt obligations from the restricted subsidiaries in India.
In terms of environmental, social, and governance (ESG) factors,
Continuum RG1 benefits from positive macroeconomic and sectoral
trends in renewable energy. The RG1's renewable energy business is
aligned with India's target to reduce its carbon footprint and meet
its nationally determined contributions.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING
The stable outlook reflects Moody's expectation that Continuum
RG1's performance is unlikely to change materially over the next
12-18 months relative to Moody's base case expectation.
Moody's could upgrade the rating if Continuum RG1's FFO/senior debt
improves to 14% or above on a sustained basis. In addition, upward
rating momentum could occur if CGEL's sponsor profile materially
improves following Morgan Stanley's potential exit, thereby
positively affecting the RG1's business and financial profiles.
Moody's could downgrade the rating if Continuum RG1's FFO/senior
debt declines to 8% or below on a sustained basis. In addition,
downgrade rating pressure could build up if Continuum Energy
Levanter's FX exposure is higher than Moody's expectation such that
it will have insufficient headroom against unfavorable FX
movements. The rating could also come under pressure, if CGEL's
sponsor profile materially weakens as a result of Morgan Stanley's
potential exit, worsening the RG1's business and financial
profiles.
The principal methodology used in this rating was Power Generation
Projects Methodology published in July 2020.
Continuum RG1 -- comprising the issuer of the senior notes and the
Indian operating subsidiaries -- owns and operates 722.9 megawatts
(MW) of power plants -- 644.1 MW wind and 78.8 MW solar -- across
the four states of Maharashtra, Madhya Pradesh, Tamil Nadu and
Gujarat. Continuum RG1 will be owned by Continuum Green Energy
Limited, Singapore (CGEL, formerly known as Continuum Wind Energy
Limited) through Continuum Green Energy (India) Pvt Ltd, which is
an India-based holdco.
Continuum Green Energy Ltd. Singapore (CGEL), a holding company
based in Singapore, has operational wind and solar power plants of
757 MW generating capacity, 154 MW under construction and 150 MW
ready to construct on a consolidated basis in the four states. CGEL
aims at increasing its total capacity to 2,000-2,100 MW over the
next couple of years. CGEL is 83% owned by Clean Energy Investing
Ltd, Singapore (Morgan Stanley Infrastructure Partners) on a
fully-diluted basis and 17% by the founders.
SEN YUE: In CAD Probe; Chairman Suspended from Executive Functions
------------------------------------------------------------------
Vivienne Tay at The Business Times reports that catalist-listed Sen
Yue Holdings has been ordered by the Commercial Affairs Department
(CAD) on Jan. 27 to produce certain documents and information for
the financial years ended Sept. 30, 2015 to 2020.
This is in relation to offences under the Penal Code (Cap 224) and
the Securities and Futures Act (Cap 289) according to the Criminal
Procedure Code, the waste-management group said in a bourse filing,
BT relays.
According to BT, the move came after Sen Yue chief executive and
executive director Neo Gim Kiong, and audit committee chairman Chim
Suan Kit Mark filed a report with the CAD on Jan. 5 over matters
highlighted in a recent independent review.
BT relates that the review, conducted by Foo Kon Tan Advisory
Services (FKT), supposedly found that customers of Sen Yue's
wholly-owned subsidiary SMC Industrial (SMCI) had ties to executive
chairman Koh Mia Seng.
SMCI provides industrial waste solutions in Asia, with a niche in
electronic-waste management and recycling solutions.
The FKT report noted certain non-disclosure of interested person
transactions. The accounting firm recommended the company lodge a
report with the appropriate authorities and request said
authorities to carry out a full investigation.
FKT said there are reasons to believe there are certain fraudulent
and/or fictitious transactions, as well as a high risk that some
transactions between SMCI and certain companies may be fraudulent
and/or fictitious, according to BT. There is also evidence that
criminal offences may have been committed, FKT said.
Mr. Koh was suspended from all executive functions on Jan. 8 and
redesignated as non-executive chairman on Jan. 13. Mr. Neo has
taken on Mr. Koh's duties and responsibilities in the group.
BT says the group's nominating committee considered Mr. Koh's
responses to the FKT report findings unsatisfactory. Hence, it
believes Mr. Koh is not suitable to remain as a director of the
company and its subsidiaries as the report findings "put into
question his character and integrity", Sen Yue said.
Mr. Koh and certain SMCI staff - Koh Wen An and Priscilla Loh -
were interviewed by CAD officers on Jan. 27, says BT. Sen Yue has
not been informed by these parties if there were any formal charges
or arrests, whether or not their passports have been impounded and
whether or not there were any restrictions or conditions imposed by
the CAD.
BT adds that the group said it intends to fully cooperate with the
CAD to assist in the investigation. Its nominating committee is
also consulting with bourse watchdog Singapore Exchange Regulation
about removing Mr. Koh from the board.
"While the CAD investigation has no direct impact on the group's
operations in light of Mr. Koh's redesignation to non-executive
chairman, the group still faces challenges in its business
operations arising from the amounts due and outstanding to SMCI's
creditors," Sen Yue, as cited by BT, said.
It added that its board is preparing an update to shareholders
about the report findings and an executive summary of the FKT
report and Mr. Koh's responses. It will release a further
announcement on the matter, BT notes.
About Sen Yue
Sen Yue Holdings Limited is an investment holding company. The
Company is principally engaged in three business verticals: e-waste
management solutions, commodities trading, and surface coating and
related services. The Company provides holistic e-waste management
solutions to local and overseas customers. It offers e-waste
management solutions in Singapore to recycle lithium-ion batteries.
The Company's commodities trading and processing business
activities is an extension of its e-waste management business by
creating new value in metal scraps. Its surface coating and related
services offer protection from corrosion and extend the service
life of its customers' products and components, while staying
environmentally friendly.
SEN YUE: Wholly-owned Unit Gets Letter of Demand from DBS
---------------------------------------------------------
Vivienne Tay at The Business Times reports that catalist-listed Sen
Yue Holdings said its wholly-owned subsidiary SMC Industrial (SMCI)
received a letter of demand from DBS's lawyers on Jan. 27.
BT says the letter noted that events of default have occurred under
the various banking facilities granted by the bank to SMCI. DBS has
recalled these banking facilities.
SMCI owes DBS around SGD5.9 million and has about US$9 million
outstanding, plus all accrued interest and legal costs on an
indemnity basis. The bank has demanded these sums be paid within
three weeks or SMCI will be liable to be compulsorily wound up, BT
notes.
BT relates that Sen Yue said it is in discussions with DBS on
suitable repayment proposals and the company will update
shareholders as and when further material developments occur.
In October last year, SP PowerAssets sent a second letter of demand
to SMCI to pay an aggregate balance outstanding sum of close to
SGD7.5 million and any accrued interest for late payment of this
amount, BT recalls.
Sen Yue called for a trading halt in end-April 2020, before
converting it to a suspension in May. Its shares last traded at 2.2
Singapore cents on April 27, BT notes.
About Sen Yue
Sen Yue Holdings Limited is an investment holding company. The
Company is principally engaged in three business verticals: e-waste
management solutions, commodities trading, and surface coating and
related services. The Company provides holistic e-waste management
solutions to local and overseas customers. It offers e-waste
management solutions in Singapore to recycle lithium-ion batteries.
The Company's commodities trading and processing business
activities is an extension of its e-waste management business by
creating new value in metal scraps. Its surface coating and related
services offer protection from corrosion and extend the service
life of its customers' products and components, while staying
environmentally friendly.
=====================
S O U T H K O R E A
=====================
SSANGYONG MOTOR: Prepares to File for Prepackaged Bankruptcy
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Pulse by Maeil Business News Korea reports that SsangYong Motor Co.
is prepping to file for a prepackaged bankruptcy, a speedier
turnaround with the help of creditors, after winding up talks with
a new potential investor.
According to the report, SsangYong Motor CEO Yea Byung-tae said the
company would be drawing up a prepackaged prospectus with HAAH
Automotive Holdings, a candidate to buy stake from Indian parent
Mahindra & Mahindra, according to industry sources on Jan. 28.
A prepackaged bankruptcy was instituted in 2016 in Korea to
expedite court process for a corporate turnaround when deemed the
company is savable, the report notes. It requires approval from
creditors as they would have to write off existing debts or
shoulder new funding.
Whether the main creditor Korea Development Bank will accept the
plan however is uncertain, Pulse says. The state-led bank earlier
warned that SsangYong could not receive any additional funding
unless the union promises not to strike until business
normalization by stretching the binding period for the collective
bargaining terms to three years instead of annual renewal.
Originally the automaker was given Feb. 28 as deadline to solve its
default crisis and avoid the court-led receivership, the report
states. Mahindra & Mahindra and HAAH Automotive Holdings have not
reached an agreement for stake sale.
SsangYong Motor has debt obligations of KRW180-200 billion
($161.7-179.6 million) promissory notes due on Friday to its parts
suppliers, Pulse discloses.
Amid stalled talks, the government on Jan. 29 decided to provide
financial aids to the parts suppliers of SsangYong under trouble
due to delayed payment dues, Pulse reports. State-run banks and
funds will allow rollover of their existing loans.
About Ssangyong Motor
Headquartered in Kyeonggi-Do, South Korea, Ssangyong Motor Co. Ltd.
engages in the manufacture and sale of automobiles. The Company
mainly manufactures and sells recreational vehicles (RVs), sports
utility vehicles (SUVs), multi-purpose vehicles (CDVs) and
passenger cars under the brand name of rexton sports, korando,
korando sports, korando turismo, tivoli, tivoli air and others. The
Company also provides automobile parts. The Company distributes its
products within domestic market and to overseas markets.
SsangYong Motor Co. on Dec. 21, 2020, filed for court receivership
as it struggles with snowballing debts amid the COVID-19 pandemic,
according to Yonhap News Agency. The decision comes after SsangYong
Motor, the South Korean unit of Indian carmaker Mahindra & Mahindra
Ltd., failed to pay KRW60 billion (US$54.8 million) worth of debts
to its three creditor banks.
The company received a three-month suspension of its obligation to
pay its debts, as it aims to find a new investor during the period
before the court-led restructuring begins on Feb. 28, Yonhap said.
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[*] BOND PRICING: For the Week Jan. 25, 2021 to Jan. 29, 2021
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Issuer Coupon Maturity Currency Price
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AUSTRALIA
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ACN 113 874 712 PTY LTD 13.25 02/15/18 USD 0.15
ACN 113 874 712 PTY LTD 13.25 02/15/18 USD 0.15
CLEAN SEAS SEAFOOD LTD 8.00 11/18/22 AUD 1.06
CLIME CAPITAL LTD/FUND 6.25 11/30/21 AUD 0.98
GLENNON SMALL COS LTD 5.60 09/30/30 AUD 10.43
PALADIN ENERGY LTD 10.00 02/01/23 USD 66.38
PALADIN ENERGY LTD 10.00 02/01/23 USD 66.38
VIRGIN AUSTRALIA HOLDIN 7.88 10/15/21 USD 8.30
VIRGIN AUSTRALIA HOLDIN 7.88 10/15/21 USD 8.50
VIRGIN AUSTRALIA HOLDIN 8.25 05/30/23 AUD 8.39
VIRGIN AUSTRALIA HOLDIN 8.08 03/05/24 AUD 9.39
VIRGIN AUSTRALIA HOLDIN 8.13 11/15/24 USD 8.42
VIRGIN AUSTRALIA HOLDIN 8.13 11/15/24 USD 8.63
VIRGIN AUSTRALIA HOLDIN 8.00 11/26/24 AUD 5.02
CHINA
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CITIC GUOAN GROUP CORP 5.80 12/15/19 CNY 18.25
CITIC GUOAN GROUP CORP 4.23 12/15/20 CNY 18.25
CITIC GUOAN GROUP CORP 4.49 03/08/21 CNY 89.00
CIXI CITY CONSTRUCTION 6.18 08/18/21 CNY 20.25
CIXI CITY CONSTRUCTION 6.18 08/18/21 CNY 28.80
CULTURAL INVESTMENT HOL 5.45 10/26/22 CNY 55.00
DAFANG COUNTY CONSTRUCT 6.00 09/26/23 CNY 58.31
DAFANG COUNTY CONSTRUCT 6.00 09/26/23 CNY 59.17
DALI ECONOMIC DEVELOPME 7.90 03/04/21 CNY 20.00
DALI ECONOMIC DEVELOPME 7.90 03/04/21 CNY 20.04
DALI HAIDONG DEVELOPMEN 6.01 01/25/23 CNY 40.05
DALI HAIDONG DEVELOPMEN 6.01 01/25/23 CNY 59.82
DALIAN PULANDIAN CONSTR 3.80 01/25/23 CNY 59.61
DALIAN PULANDIAN CONSTR 3.80 01/25/23 CNY 60.00
DALIAN RONGDA INVESTMEN 5.69 12/05/21 CNY 20.28
DALIAN RONGQIANG INVEST 7.92 04/14/21 CNY 20.09
DALIAN RONGQIANG INVEST 7.92 04/14/21 CNY 20.09
DALIAN SHITAI CITY CONS 7.09 02/20/21 CNY 19.93
DALIAN SHITAI CITY CONS 4.50 02/01/23 CNY 56.61
DALIAN SHITAI CITY CONS 4.50 02/01/23 CNY 57.32
DANDONG PORT GROUP CO L 5.50 01/27/21 CNY 59.00
DANGTU COUNTY CONSTRUCT 5.38 08/10/22 CNY 40.38
DANGTU COUNTY CONSTRUCT 5.38 08/10/22 CNY 40.45
DANGYANG XINYUAN INVEST 7.99 05/23/21 CNY 20.00
DANGYANG XINYUAN INVEST 4.97 03/29/23 CNY 59.28
DANGYANG XINYUAN INVEST 4.97 03/29/23 CNY 60.35
DANYANG HI-TECH INDUSTR 6.40 04/24/22 CNY 39.76
DANYANG HI-TECH INDUSTR 6.40 04/24/22 CNY 40.00
DANYANG INVESTMENT GROU 3.99 01/25/23 CNY 39.80
DATONG ECONOMIC CONSTRU 4.49 10/22/22 CNY 40.23
DATONG ECONOMIC CONSTRU 4.49 10/22/22 CNY 40.30
DAWA COUNTY CITY CONSTR 6.29 06/12/22 CNY 39.30
DAWA COUNTY CITY CONSTR 6.29 06/12/22 CNY 39.31
DAWA COUNTY LINGANG ECO 5.99 10/19/24 CNY 70.88
DAWA COUNTY LINGANG ECO 5.99 10/19/24 CNY 74.43
DAYE ZHENHENG CITY DEVE 7.30 03/03/21 CNY 20.03
DAYE ZHENHENG CITY DEVE 7.30 03/03/21 CNY 23.53
DAYE ZHENHENG CITY DEVE 4.50 03/28/23 CNY 58.47
DAYE ZHENHENG CITY DEVE 4.50 03/28/23 CNY 59.12
DAYE ZHENHENG CITY DEVE 4.05 08/31/23 CNY 58.15
DAYE ZHENHENG CITY DEVE 4.05 08/31/23 CNY 58.39
DAZHOU DEVELOPMENT HOLD 6.55 01/14/22 CNY 20.00
DAZHOU DEVELOPMENT HOLD 6.55 01/14/22 CNY 20.37
DAZHOU DEVELOPMENT HOLD 5.10 11/27/22 CNY 40.00
DAZHOU DEVELOPMENT HOLD 5.10 11/27/22 CNY 40.19
DAZHOU INVESTMENT CO LT 3.99 11/04/26 CNY 74.85
DEHONGZHOU HONGKANG INV 6.68 01/23/22 CNY 20.10
DEHONGZHOU HONGKANG INV 6.68 01/23/22 CNY 40.15
DEQING CONSTRUCTION INV 3.60 11/11/23 CNY 58.63
DEQING CONSTRUCTION INV 3.60 11/11/23 CNY 59.04
DEXING INVESTMENT HOLDI 5.99 03/21/23 CNY 59.94
DEXING INVESTMENT HOLDI 5.99 03/21/23 CNY 59.97
DEYANG ECONOMIC DEVELOP 7.90 04/28/21 CNY 20.11
DEYANG ECONOMIC DEVELOP 7.90 04/28/21 CNY 28.26
DONGLING GROUP INC CO 8.00 07/14/22 CNY 40.00
DONGLING GROUP INC CO 8.00 07/14/22 CNY 40.78
DONGTAI STATE-OWNED ASS 3.04 11/16/23 CNY 57.13
DONGTAI UBAN CONSTRUCTI 7.58 04/23/21 CNY 20.11
DONGTAI UBAN CONSTRUCTI 7.58 04/23/21 CNY 28.48
DONGYING CITY URBAN ASS 5.57 03/31/22 CNY 40.28
DONGYING CITY URBAN ASS 5.57 03/31/22 CNY 41.58
DONGZHI COUNTY CITY OPE 4.88 06/20/23 CNY 59.94
DONGZHI COUNTY CITY OPE 4.88 06/20/23 CNY 60.05
DUJIANGYAN XINGYAN INVE 6.10 03/12/22 CNY 37.30
DUJIANGYAN XINGYAN INVE 6.10 03/12/22 CNY 39.16
DUNYUN STATE-OWNED ASSE 6.60 12/28/22 CNY 40.26
ENSHI URBAN CONSTRUCTIO 7.50 06/03/21 CNY 20.24
ENSHI URBAN CONSTRUCTIO 7.50 06/03/21 CNY 27.54
ENSHI URBAN CONSTRUCTIO 3.84 11/01/23 CNY 57.94
ENSHI URBAN CONSTRUCTIO 3.84 11/01/23 CNY 58.57
EZHOU CITY CONSTRUCTION 7.76 05/15/21 CNY 20.18
EZHOU CITY CONSTRUCTION 7.76 05/15/21 CNY 26.50
EZHOU CITY CONSTRUCTION 6.68 09/19/21 CNY 20.23
EZHOU CITY CONSTRUCTION 6.68 09/19/21 CNY 20.53
FANGCHENGGANG GANGFA HO 8.09 04/16/21 CNY 20.10
FANGCHENGGANG GANGFA HO 8.09 04/16/21 CNY 20.50
FEICHENG CITY ASSETS MA 4.04 03/23/23 CNY 59.39
FEICHENG CITY ASSETS MA 4.04 03/23/23 CNY 59.61
FEIXI COUNTY URBAN & RU 4.45 06/03/23 CNY 60.07
FEIXI COUNTY URBAN & RU 4.45 06/03/23 CNY 61.24
FENG COUNTY ECONOMIC DE 5.18 06/21/23 CNY 58.53
FENG COUNTY ECONOMIC DE 5.18 06/21/23 CNY 59.44
FENGCHENG CITY CONSTRUC 6.49 02/10/22 CNY 40.34
FENGCHENG CITY CONSTRUC 6.49 02/10/22 CNY 40.34
FENGCHENG CITY MODERN I 5.76 12/17/22 CNY 39.83
FENGCHENG CITY MODERN I 5.76 12/17/22 CNY 40.00
FENGXIAN URBAN INVESTME 4.23 07/13/21 CNY 19.85
FENGXIAN URBAN INVESTME 4.23 07/13/21 CNY 19.85
FENGXIAN URBAN INVESTME 6.48 03/20/22 CNY 40.00
FENGXIAN URBAN INVESTME 6.48 03/20/22 CNY 40.06
FENYI CITY CONSTRUCTION 4.54 08/22/23 CNY 58.83
FENYI CITY CONSTRUCTION 4.54 08/22/23 CNY 59.12
FUGUINIAO CO LTD 6.30 04/22/20 CNY 13.00
FUJIAN FUSHENG GROUP CO 7.90 11/19/21 CNY 60.00
FUJIAN FUSHENG GROUP CO 7.90 12/17/21 CNY 70.99
FUJIAN JINJIANG INDUSTR 7.08 06/27/21 CNY 20.25
FUJIAN JINJIANG INDUSTR 7.08 06/27/21 CNY 20.65
FUJIAN JINJIANG URBAN C 3.35 08/24/23 CNY 59.71
FUJIAN JINJIANG URBAN C 3.35 08/24/23 CNY 59.86
FUJIAN PROVINCE LIANJIA 6.29 04/30/22 CNY 40.00
FUJIAN PROVINCE LIANJIA 6.29 04/30/22 CNY 40.44
FUJIAN ZHANGLONG GROUP 4.99 08/07/22 CNY 40.00
FUJIAN ZHANGLONG GROUP 4.99 08/07/22 CNY 40.48
FUNING URBAN INVESTMENT 7.19 08/15/21 CNY 20.35
FUNING URBAN INVESTMENT 7.19 08/15/21 CNY 21.15
FUQING CITY STATE-OWNED 6.66 03/01/21 CNY 25.02
FUQING CITY STATE-OWNED 5.94 11/26/22 CNY 40.89
FUXIN INFRASTRUCTURE CO 6.18 03/18/22 CNY 39.74
FUZHOU CHANGLE DISTRICT 4.50 04/11/23 CNY 59.06
FUZHOU CHANGLE DISTRICT 4.50 04/11/23 CNY 59.81
FUZHOU DEVELOPMENT ZONE 3.53 08/25/23 CNY 59.18
FUZHOU LINCHUAN URBAN C 5.68 07/05/23 CNY 59.41
FUZHOU LINCHUAN URBAN C 5.68 07/05/23 CNY 59.44
FUZHOU URBAN AND RURAL 5.48 01/26/22 CNY 40.00
FUZHOU URBAN AND RURAL 5.48 01/26/22 CNY 40.50
FUZHOU URBAN AND RURAL 4.89 07/08/22 CNY 40.48
FUZHOU URBAN AND RURAL 4.89 07/08/22 CNY 40.55
GANSU PROVINCIAL HIGHWA 6.58 09/24/22 CNY 72.38
GANZHOU CITY DEVELOPMEN 5.50 06/16/22 CNY 40.00
GANZHOU CITY DEVELOPMEN 5.50 06/16/22 CNY 40.71
GANZHOU DEVELOPMENT INV 8.10 12/11/23 CNY 64.65
GANZHOU DEVELOPMENT ZON 7.43 02/19/21 CNY 19.00
GANZHOU DEVELOPMENT ZON 7.43 02/19/21 CNY 20.02
GAOMI STATE-OWNED ASSET 4.69 01/26/23 CNY 59.89
GAOMI STATE-OWNED ASSET 4.69 01/26/23 CNY 59.96
GAOYOU CITY CONSTRUCTIO 5.48 09/15/22 CNY 40.00
GAOYOU CITY CONSTRUCTIO 5.48 09/15/22 CNY 40.38
GAOYOU CITY ECONOMY DEV 3.65 09/02/23 CNY 59.28
GAOYOU CITY ECONOMY DEV 3.65 09/02/23 CNY 60.00
GONG'AN COUNTY CITY CON 4.30 08/30/23 CNY 59.21
GONG'AN COUNTY CITY CON 4.30 08/30/23 CNY 59.35
GONGQINGCHENG FINANCIAL 5.85 03/25/23 CNY 60.58
GONGQINGCHENG FINANCIAL 5.85 03/25/23 CNY 60.59
GOOCOO INVESTMENT CO LT 8.00 02/01/21 CNY 50.00
GOTION HIGH-TECH CO LTD 6.50 04/13/23 CNY 61.03
GUANGAN DEVELOPMENT AND 6.39 03/24/22 CNY 40.35
GUANGAN DEVELOPMENT AND 6.39 03/24/22 CNY 44.00
GUANGAN ECONOMIC & TECH 7.10 09/22/21 CNY 20.16
GUANGAN ECONOMIC & TECH 7.10 09/22/21 CNY 20.16
GUANGAN ECONOMIC & TECH 5.16 04/14/23 CNY 59.49
GUANGAN ECONOMIC & TECH 5.16 04/14/23 CNY 59.50
GUANGAN TRANSPORTATION 5.39 12/01/23 CNY 60.48
GUANGDONG HUIZHOU COMMU 4.16 05/17/23 CNY 60.25
GUANGDONG HUIZHOU COMMU 4.16 05/17/23 CNY 60.37
GUANGDONG HUIZHOU COMMU 4.95 12/27/23 CNY 61.24
GUANGDONG HUIZHOU COMMU 4.95 12/27/23 CNY 61.24
GUANGRAO COUNTY ECONOMI 3.61 09/08/23 CNY 59.27
GUANGRAO COUNTY ECONOMI 3.61 09/08/23 CNY 60.00
GUANGXI BAISE DEVELOPME 7.27 06/20/21 CNY 20.00
GUANGXI BAISE DEVELOPME 7.27 06/20/21 CNY 20.10
GUANGXI LAIBIN INDUSTRI 5.97 11/26/21 CNY 20.00
GUANGXI LAIBIN INDUSTRI 5.97 11/26/21 CNY 20.14
GUANGXI QINZHOU LINHAI 7.68 02/20/21 CNY 20.01
GUANGXI QINZHOU LINHAI 7.68 02/20/21 CNY 24.77
GUANGXI URBAN CONSTRUCT 7.59 04/14/21 CNY 20.11
GUANGXI URBAN CONSTRUCT 7.59 04/14/21 CNY 23.00
GUANGYUAN INVESTMENT HO 7.30 04/22/21 CNY 20.05
GUANGYUAN INVESTMENT HO 7.30 04/22/21 CNY 21.15
GUANGYUAN YUANQU CONSTR 8.35 08/26/21 CNY 20.20
GUANGYUAN YUANQU CONSTR 8.35 08/26/21 CNY 27.00
GUANGYUAN YUANQU CONSTR 4.48 03/10/23 CNY 58.50
GUANGYUAN YUANQU CONSTR 4.48 03/10/23 CNY 58.52
GUANGZHOU HUANTOU NANSH 6.38 11/18/24 CNY 60.54
GUANGZHOU HUANTOU NANSH 6.38 11/18/24 CNY 60.65
GUANGZHOU METRO GROUP C 6.45 04/02/24 CNY 60.00
GUANGZHOU METRO GROUP C 6.45 04/02/24 CNY 62.78
GUANGZHOU METRO GROUP C 6.05 06/03/24 CNY 62.63
GUANGZHOU METRO GROUP C 6.05 06/03/24 CNY 62.70
GUILIN CITY INVESTMENT 6.90 06/13/21 CNY 20.00
GUILIN CITY INVESTMENT 6.90 06/13/21 CNY 20.06
GUILIN ECONOMIC CONSTRU 5.60 04/22/22 CNY 40.00
GUILIN ECONOMIC CONSTRU 5.60 04/22/22 CNY 40.40
GUIRENNIAO CO LTD 7.00 12/03/19 CNY 49.50
GUIXI CITY CONSTRUCTION 4.18 08/18/23 CNY 58.87
GUIXI CITY CONSTRUCTION 4.18 08/18/23 CNY 58.97
GUIYANG BAIYUN CITY CON 4.75 09/13/26 CNY 74.85
GUIYANG BAIYUN INDUSTRY 7.30 03/27/22 CNY 40.06
GUIYANG BAIYUN INDUSTRY 7.30 03/27/22 CNY 45.00
GUIYANG CITY CONSTRUCTI 4.00 11/14/26 CNY 74.64
GUIYANG CITY CONSTRUCTI 4.00 11/14/26 CNY 74.70
GUIYANG GUANCHENG INDUS 7.50 12/25/22 CNY 70.95
GUIYANG GUANSHANHU DIST 4.87 01/28/23 CNY 59.13
GUIYANG GUANSHANHU DIST 4.87 01/28/23 CNY 59.34
GUIYANG GUANSHANHU DIST 4.48 03/09/23 CNY 58.86
GUIYANG GUANSHANHU DIST 4.48 03/09/23 CNY 59.00
GUIYANG URBAN CONSTRUCT 5.23 12/02/22 CNY 39.85
GUIZHOU EAST LAKE CITY 5.18 01/06/23 CNY 38.47
GUIZHOU EAST LAKE CITY 5.18 01/06/23 CNY 40.31
GUIZHOU FANJINGSHAN INV 6.95 01/28/22 CNY 40.00
GUIZHOU FANJINGSHAN INV 6.95 01/28/22 CNY 40.00
GUIZHOU GUIAN CONSTRUCT 4.17 10/28/22 CNY 40.03
GUIZHOU GUIAN CONSTRUCT 4.17 10/28/22 CNY 41.00
GUIZHOU GUILONG INDUSTR 7.80 04/28/22 CNY 50.44
GUIZHOU GUILONG INDUSTR 7.80 04/28/22 CNY 50.71
GUIZHOU HONGCAI INVESTM 6.00 06/07/23 CNY 48.53
GUIZHOU HONGCAI INVESTM 6.00 06/07/23 CNY 48.57
GUIZHOU LIUPANSHUI PAND 7.30 07/24/24 CNY 60.01
GUIZHOU RAILWAY INVESTM 7.20 03/27/22 CNY 40.73
GUIZHOU RAILWAY INVESTM 7.50 04/23/24 CNY 60.60
GUIZHOU RAILWAY INVESTM 7.50 04/23/24 CNY 62.99
GUIZHOU SHUICHENG CITY 4.98 11/22/23 CNY 54.41
GUIZHOU SHUICHENG CITY 4.98 11/22/23 CNY 56.52
GUIZHOU SHUICHENG WATER 8.00 11/27/25 CNY 61.00
GUIZHOU XINDONGGUAN CIV 7.70 09/05/24 CNY 70.05
GULIN STATE-OWNED ASSET 4.18 08/04/23 CNY 58.43
GULIN STATE-OWNED ASSET 4.18 08/04/23 CNY 59.80
HAIAN COUNTY DEVELOPMEN 5.45 04/13/23 CNY 59.47
HAIAN COUNTY DEVELOPMEN 5.45 04/13/23 CNY 59.65
HAIAN DEVELOPMENT ZONE 4.47 11/16/23 CNY 58.16
HAIAN DEVELOPMENT ZONE 4.47 11/16/23 CNY 58.31
HAIAN URBAN DEMOLITION 5.08 11/27/22 CNY 40.53
HAIAN URBAN DEMOLITION 5.08 11/27/22 CNY 40.88
HAICHENG URBAN JINCAI L 8.17 04/16/21 CNY 20.06
HAICHENG URBAN JINCAI L 5.37 08/10/23 CNY 59.85
HAIFENG MARINE INFRASTR 6.84 04/29/22 CNY 40.35
HAIKOU MEILAN INTERNATI 5.25 09/06/19 USD 46.65
HAIMEN CITY DEVELOPMENT 6.22 04/03/22 CNY 40.67
HAIMEN CITY DEVELOPMENT 6.22 04/03/22 CNY 42.20
HAINAN AIRLINES HOLDING 6.20 05/24/21 CNY 45.00
HAINING CITY DEVELOPMEN 5.58 10/22/21 CNY 20.31
HAMI JIANHUI STATE-OWNE 3.90 09/21/23 CNY 58.17
HAMI JIANHUI STATE-OWNE 3.90 09/21/23 CNY 58.75
HANCHENG CITY INVESTMEN 4.69 12/05/23 CNY 56.93
HANCHENG CITY INVESTMEN 4.69 12/05/23 CNY 57.29
HANCHUAN CITY HANRONG I 4.25 07/18/23 CNY 58.86
HANCHUAN CITY HANRONG I 4.25 07/18/23 CNY 59.38
HANDAN CONSTRUCTION & I 5.48 05/27/22 CNY 40.63
HANDAN CONSTRUCTION & I 5.48 05/27/22 CNY 47.20
HANGZHOU CANAL COMPREHE 3.40 10/17/23 CNY 59.65
HANGZHOU CANAL COMPREHE 3.40 10/17/23 CNY 59.65
HANGZHOU CITY CONSTRUCT 3.80 03/14/23 CNY 60.00
HANGZHOU CITY CONSTRUCT 3.80 03/14/23 CNY 60.19
HANGZHOU FUYANG CITY CO 7.20 03/19/21 CNY 20.10
HANGZHOU FUYANG CITY CO 7.20 03/19/21 CNY 20.10
HANGZHOU FUYANG DEVELOP 7.70 04/28/21 CNY 20.22
HANGZHOU FUYANG DEVELOP 7.70 04/28/21 CNY 29.00
HANGZHOU FUYANG DEVELOP 4.76 01/27/23 CNY 60.02
HANGZHOU FUYANG DEVELOP 4.76 01/27/23 CNY 60.21
HANGZHOU GONGSHU DISTRI 6.90 07/21/21 CNY 20.35
HANGZHOU GONGSHU DISTRI 6.90 07/21/21 CNY 20.40
HANGZHOU METRO GROUP CO 5.97 09/17/24 CNY 62.65
HANGZHOU WEST LAKE INVE 4.30 04/25/23 CNY 59.98
HANGZHOU WEST LAKE INVE 4.30 04/25/23 CNY 60.58
HANGZHOU XIAOSHAN ECO&T 6.90 05/13/21 CNY 20.17
HANGZHOU XIAOSHAN QIANJ 4.00 03/22/23 CNY 60.14
HANGZHOU XIAOSHAN QIANJ 4.00 03/22/23 CNY 60.23
HANGZHOU YUHANG CITY CO 7.00 03/03/21 CNY 20.06
HANGZHOU YUHANG ECONOMI 7.45 03/03/21 CNY 20.06
HANGZHOU YUHANG ECONOMI 7.45 03/03/21 CNY 20.75
HANGZHOU YUHANG TRANSPO 7.19 04/18/21 CNY 20.18
HANGZHOU YUHANG TRANSPO 7.19 04/18/21 CNY 21.85
HAWTAI MOTOR GROUP LTD 7.20 04/14/21 CNY 60.00
HAWTAI MOTOR GROUP LTD 6.10 10/26/21 CNY 74.00
HEBEI ZHONGYUE CITY CON 4.10 11/16/21 CNY 19.84
HEBEI ZHONGYUE CITY CON 4.10 11/16/21 CNY 19.89
HEBI INVESTMENTS GROUP 7.88 08/01/21 CNY 20.29
HEBI INVESTMENTS GROUP 7.88 08/01/21 CNY 20.99
HECHI CITY CONSTRUCTION 5.58 11/13/22 CNY 39.74
HECHI CITY CONSTRUCTION 5.58 11/13/22 CNY 42.42
HECHI STATE-OWNED ASSET 4.37 11/04/23 CNY 58.21
HECHI STATE-OWNED ASSET 4.37 11/04/23 CNY 58.39
HEFEI CONSTRUCTION INVE 7.20 04/29/24 CNY 63.55
HEFEI XINCHENG STATE-OW 4.13 07/15/23 CNY 59.36
HEFEI XINCHENG STATE-OW 4.13 07/15/23 CNY 59.63
HEILONGJIANG HECHENG CO 5.60 11/11/21 CNY 20.01
HEILONGJIANG HECHENG CO 7.05 06/21/22 CNY 30.34
HEISHAN TONGHE ASSET MA 6.79 09/18/22 CNY 39.28
HEISHAN TONGHE ASSET MA 6.79 09/18/22 CNY 39.63
HENAN ENERGY & CHEMICAL 6.98 11/02/21 CNY 37.87
HENGDONG URBAN & RURAL 6.60 12/27/23 CNY 60.40
HENGDONG URBAN & RURAL 6.60 12/27/23 CNY 60.80
HENGYANG BAISHAZHOU DEV 6.87 08/22/21 CNY 19.97
HENGYANG BAISHAZHOU DEV 6.87 08/22/21 CNY 24.50
HENGYANG COMMUNICATION 4.28 01/21/23 CNY 40.00
HENGYANG COMMUNICATION 4.28 01/21/23 CNY 59.78
HENGYANG XIANGJIANG WAT 7.40 04/23/21 CNY 20.13
HENGYANG XIANGJIANG WAT 7.40 04/23/21 CNY 21.10
HESHAN PUBLIC ASSET MAN 4.08 09/28/23 CNY 58.21
HESHAN PUBLIC ASSET MAN 4.08 09/28/23 CNY 58.68
HESHAN PUBLIC ASSET MAN 5.08 12/07/23 CNY 60.65
HESHAN PUBLIC ASSET MAN 5.08 12/07/23 CNY 60.71
HETIAN YUXIN STATE-OWNE 4.65 03/28/23 CNY 59.10
HETIAN YUXIN STATE-OWNE 4.65 03/28/23 CNY 59.38
HEYUAN CITY RUNYE INVES 6.20 12/03/21 CNY 20.28
HEYUAN CITY RUNYE INVES 6.20 12/03/21 CNY 25.88
HEZE INVESTMENT DEVELOP 7.14 03/24/21 CNY 20.10
HEZE INVESTMENT DEVELOP 7.14 03/24/21 CNY 20.95
HEZHOU URBAN CONSTRUCTI 8.16 05/16/21 CNY 20.14
HEZHOU URBAN CONSTRUCTI 8.16 05/16/21 CNY 21.00
HNA GROUP CO LTD 7.10 04/15/20 CNY 70.00
HNA GROUP CO LTD 5.99 11/27/22 CNY 29.10
HONGHEZHOU DEVELOPMENT 5.90 07/12/24 CNY 71.00
HUACHEN ENERGY CO LTD 6.63 05/18/20 USD 34.50
HUAIAN CITY HUAIAN DIST 4.63 05/03/23 CNY 60.00
HUAIAN CITY HUAIAN DIST 4.63 05/03/23 CNY 60.20
HUAIAN CITY URBAN ASSET 5.70 04/23/22 CNY 40.65
HUAIAN CITY URBAN ASSET 5.70 04/23/22 CNY 41.54
HUAIAN CITY XUYI URBAN 5.10 04/15/23 CNY 59.44
HUAIAN CITY XUYI URBAN 5.10 04/15/23 CNY 59.81
HUAI'AN DEVELOPMENT HOL 7.30 03/10/21 CNY 20.07
HUAI'AN DEVELOPMENT HOL 7.30 03/10/21 CNY 27.84
HUAIAN HONGRI TRANSPORT 5.09 04/20/23 CNY 57.84
HUAIAN HONGRI TRANSPORT 5.09 04/20/23 CNY 59.01
HUAIAN HONGZE DISTRICT 4.37 07/18/23 CNY 58.69
HUAIAN HONGZE DISTRICT 4.37 07/18/23 CNY 58.74
HUAI'AN NEW CITY INVEST 7.45 03/04/21 CNY 20.00
HUAI'AN NEW CITY INVEST 7.45 03/04/21 CNY 20.04
HUAI'AN NEW CITY INVEST 6.95 07/28/21 CNY 20.30
HUAI'AN NEW CITY INVEST 6.95 07/28/21 CNY 27.50
HUAIHUA CITY CONSTRUCTI 4.18 08/31/23 CNY 58.49
HUAIHUA CITY CONSTRUCTI 4.18 08/31/23 CNY 58.70
HUAIHUA ECONOMIC DEVELO 6.80 03/26/22 CNY 39.96
HUAIHUA ECONOMIC DEVELO 6.80 03/26/22 CNY 40.00
HUAIHUA TRANSPORTATION 4.96 04/12/23 CNY 59.38
HUAIHUA TRANSPORTATION 4.96 04/12/23 CNY 59.38
HUAINAN URBAN CONSTRUCT 6.79 07/09/21 CNY 20.24
HUAINAN URBAN CONSTRUCT 6.79 07/09/21 CNY 20.26
HUANGGANG CITY CONSTRUC 7.45 03/04/21 CNY 20.12
HUANGGANG CITY CONSTRUC 7.45 03/04/21 CNY 20.12
HUANGGANG CITY CONSTRUC 4.08 01/18/23 CNY 39.95
HUANGGANG CITY CONSTRUC 4.08 01/18/23 CNY 40.10
HUANGSHAN CHENGTOU GROU 5.95 05/06/22 CNY 40.54
HUANGSHAN CHENGTOU GROU 5.95 05/06/22 CNY 40.65
HUANGSHI CIHU HIGH-TECH 4.97 06/08/23 CNY 59.85
HUANGSHI CIHU HIGH-TECH 4.50 06/08/23 CNY 59.95
HUANGSHI CIHU HIGH-TECH 4.97 06/08/23 CNY 59.99
HUANGSHI CIHU HIGH-TECH 4.50 06/08/23 CNY 63.00
HUANGSHI URBAN CONSTRUC 5.99 04/29/22 CNY 40.00
HUANGSHI URBAN CONSTRUC 5.99 04/29/22 CNY 40.52
HUAWEN MEDIA GROUP 5.45 11/08/22 CNY 72.07
HUAWEN MEDIA GROUP 6.00 04/04/23 CNY 45.10
HUBEI PROVINCE CHANGJIA 6.15 04/03/22 CNY 40.47
HUBEI PROVINCE CHANGJIA 6.15 04/03/22 CNY 42.40
HULUDAO INVESTMENT GROU 7.50 10/18/23 CNY 46.09
HULUNBEIER INVESTMENT C 6.31 04/30/22 CNY 39.92
HULUNBEIER INVESTMENT C 6.31 04/30/22 CNY 40.36
HUNAN CHANGDE DEYUAN IN 6.50 06/16/21 CNY 20.21
HUNAN CHANGDE DEYUAN IN 6.50 06/16/21 CNY 22.25
HUNAN CHUZHISHENG HOLDI 5.60 12/18/22 CNY 40.50
HUNAN CHUZHISHENG HOLDI 5.60 12/18/22 CNY 40.55
HUNAN JINYANG INVESTMEN 5.70 11/27/21 CNY 18.60
HUNAN JINYANG INVESTMEN 5.70 11/27/21 CNY 20.10
HUNAN JINYANG INVESTMEN 4.37 01/19/23 CNY 39.51
HUNAN JINYANG INVESTMEN 4.37 01/19/23 CNY 39.70
HUNAN JINYANG INVESTMEN 4.39 04/06/23 CNY 59.39
HUNAN JINYANG INVESTMEN 4.39 04/06/23 CNY 59.58
HUNAN JINYANG NEW CITY 4.43 10/23/22 CNY 39.87
HUNAN JINYANG NEW CITY 4.43 10/23/22 CNY 39.94
HUNAN LINGANG DEVELOPME 4.24 07/21/23 CNY 57.90
HUNAN LINGANG DEVELOPME 4.24 07/21/23 CNY 58.64
HUNAN LINGANG DEVELOPME 3.94 10/26/23 CNY 57.14
HUNAN LINGANG DEVELOPME 3.94 10/26/23 CNY 57.18
HUNAN LOUDI ECONOMIC & 6.36 03/13/22 CNY 39.21
HUNAN LOUDI ECONOMIC & 6.36 03/13/22 CNY 47.00
HUNAN LOUDI ECONOMIC & 4.89 03/30/23 CNY 56.56
HUNAN LOUDI ECONOMIC & 4.89 03/30/23 CNY 58.32
HUNAN PROVINCIAL RAILWA 6.09 04/30/25 CNY 70.00
HUNAN PROVINCIAL RAILWA 6.09 04/30/25 CNY 72.85
HUNAN SENTE INDUSTRIAL 6.90 11/28/24 CNY 40.00
HUNAN SHAODONG ECO-INDU 6.50 01/11/23 CNY 39.31
HUNAN SHAODONG ECO-INDU 6.50 01/11/23 CNY 39.45
HUNAN SHAODONG ECO-INDU 6.58 12/13/23 CNY 61.71
HUNAN SHAODONG ECO-INDU 6.58 12/13/23 CNY 61.71
HUNAN TIER GROUP CO LTD 7.10 03/03/21 CNY 20.06
HUNAN TIER GROUP CO LTD 7.10 03/03/21 CNY 20.30
HUNAN TIER GROUP CO LTD 4.20 03/17/23 CNY 57.93
HUNAN TIER GROUP CO LTD 4.20 03/17/23 CNY 58.87
HUNAN XIANGJIANG NEW AR 7.36 03/17/21 CNY 20.00
HUNAN XIANGJIANG NEW AR 7.36 03/17/21 CNY 20.14
HUNAN YOUZHOU INVESTMEN 4.80 07/07/23 CNY 59.90
HUNAN YOUZHOU INVESTMEN 4.80 07/07/23 CNY 59.91
HUZHOU URBAN CONSTRUCTI 6.48 08/28/21 CNY 20.24
HUZHOU URBAN CONSTRUCTI 6.48 08/28/21 CNY 22.38
HUZHOU XISAISHAN DEVELO 7.80 04/29/21 CNY 20.00
HUZHOU XISAISHAN DEVELO 7.80 04/29/21 CNY 20.15
INNER MONGOLIA JINLONG 7.30 11/19/22 CNY 39.50
INNER MONGOLIA JINLONG 7.30 11/19/22 CNY 39.51
INNER MONGOLIA KE'ERQIN 6.50 03/11/22 CNY 39.21
INNER MONGOLIA KE'ERQIN 6.45 04/30/22 CNY 39.04
INNER MONGOLIA KE'ERQIN 6.45 04/30/22 CNY 40.00
INNER MONGOLIA SHENGXIA 8.18 08/21/21 CNY 20.10
INNER MONGOLIA SHENGXIA 8.18 08/21/21 CNY 24.00
INNER MONGOLIA ZHUNGEER 6.54 12/31/21 CNY 20.41
INNER MONGOLIA ZHUNGEER 6.54 12/31/21 CNY 22.10
JIAN CITY JINGANGSHAN D 7.99 06/03/21 CNY 20.21
JIAN CITY JINGANGSHAN D 7.99 06/03/21 CNY 20.87
JIAN CITY JINGANGSHAN D 4.87 01/27/23 CNY 58.90
JIAN CITY JINGANGSHAN D 4.87 01/27/23 CNY 59.93
JIANAN INVESTMENT HOLDI 6.85 05/23/21 CNY 20.21
JIANAN INVESTMENT HOLDI 6.85 05/23/21 CNY 26.50
JIANAN INVESTMENT HOLDI 4.30 03/08/23 CNY 59.89
JIANAN INVESTMENT HOLDI 4.30 03/08/23 CNY 60.08
JIANAN INVESTMENT HOLDI 3.50 09/05/23 CNY 59.45
JIANAN INVESTMENT HOLDI 3.85 09/05/23 CNY 59.47
JIANAN INVESTMENT HOLDI 3.85 09/05/23 CNY 59.47
JIANAN INVESTMENT HOLDI 3.50 09/05/23 CNY 61.00
JIANGDONG HOLDING GROUP 7.14 04/24/21 CNY 20.15
JIANGMEN NEW HI-TECH IN 6.03 04/22/22 CNY 40.55
JIANGMEN NEW HI-TECH IN 6.03 04/22/22 CNY 41.10
JIANGSU BEIGU INDUSTRIA 5.80 06/20/23 CNY 60.47
JIANGSU BEIGU INDUSTRIA 5.80 06/20/23 CNY 60.73
JIANGSU DAHANG LINGANG 5.18 09/22/23 CNY 58.97
JIANGSU DAHANG LINGANG 5.18 09/22/23 CNY 58.99
JIANGSU GAOCHUN ECONOMI 3.67 09/23/23 CNY 59.29
JIANGSU GAOCHUN ECONOMI 3.67 09/23/23 CNY 59.59
JIANGSU GAOCHUN ECONOMI 3.92 11/23/23 CNY 59.44
JIANGSU GAOCHUN ECONOMI 3.92 11/23/23 CNY 59.45
JIANGSU HAIZHOU DEVELOP 4.67 06/06/23 CNY 59.95
JIANGSU HAIZHOU DEVELOP 4.67 06/06/23 CNY 61.51
JIANGSU HANRUI INVESTME 4.63 04/15/23 CNY 60.20
JIANGSU HANRUI INVESTME 4.63 04/15/23 CNY 60.51
JIANGSU HANRUI INVESTME 5.00 08/31/23 CNY 57.69
JIANGSU HANRUI INVESTME 5.00 08/31/23 CNY 57.72
JIANGSU JINGUAN INVESTM 7.90 04/08/21 CNY 20.13
JIANGSU JINGUAN INVESTM 7.90 04/08/21 CNY 20.80
JIANGSU JINTAN GUOFA IN 6.85 05/30/21 CNY 20.00
JIANGSU JINTAN GUOFA IN 6.85 05/30/21 CNY 20.21
JIANGSU JINTAN GUOFA IN 4.60 08/22/23 CNY 58.85
JIANGSU JINTAN GUOFA IN 4.60 08/22/23 CNY 58.86
JIANGSU JURONG FUDI BIO 7.70 03/21/21 CNY 40.18
JIANGSU JURONG FUDI BIO 7.70 03/21/21 CNY 40.25
JIANGSU NANTONG NO2 CON 8.10 07/10/21 CNY 20.00
JIANGSU NANTONG NO2 CON 8.10 07/10/21 CNY 20.16
JIANGSU RUNCHENG ASSET 7.88 04/16/21 CNY 20.12
JIANGSU RUNCHENG ASSET 7.88 04/16/21 CNY 28.80
JIANGSU RUNQI WANGUO IN 4.14 10/21/21 CNY 29.72
JIANGSU RUNQI WANGUO IN 4.14 10/21/21 CNY 30.00
JIANGSU SUHAI INVESTMEN 7.28 05/29/21 CNY 20.10
JIANGSU SUHAI INVESTMEN 7.28 05/29/21 CNY 25.00
JIANGSU TAICANG PORT DE 7.40 04/28/21 CNY 20.00
JIANGSU TAICANG PORT DE 7.40 04/28/21 CNY 20.14
JIANGSU WUZHONG ECONOMI 5.49 11/19/21 CNY 20.21
JIANGSU WUZHONG ECONOMI 5.49 11/19/21 CNY 20.32
JIANGSU XISHAN ECONOMIC 5.78 07/20/22 CNY 40.00
JIANGSU XISHAN ECONOMIC 5.78 07/20/22 CNY 40.67
JIANGSU YANGKOU PORT CO 6.23 04/10/22 CNY 40.41
JIANGSU YANGKOU PORT CO 6.23 04/10/22 CNY 47.50
JIANGSU YINGZHOU DEVELO 4.33 09/21/23 CNY 57.67
JIANGSU YINGZHOU DEVELO 4.33 09/21/23 CNY 57.69
JIANGSU YIXING ECONOMIC 7.69 04/18/21 CNY 20.15
JIANGSU YIXING ECONOMIC 7.69 04/18/21 CNY 30.19
JIANGSU ZHANGJIAGANG EC 3.95 03/22/23 CNY 60.00
JIANGSU ZHANGJIAGANG EC 3.95 03/22/23 CNY 60.12
JIANGSU ZHUFU INDUSTRIA 4.47 07/20/23 CNY 56.30
JIANGSU ZHUFU INDUSTRIA 4.47 07/20/23 CNY 58.41
JIANGXI HEJI INVESTMENT 5.09 12/17/22 CNY 39.38
JIANGXI HEJI INVESTMENT 5.09 12/17/22 CNY 40.00
JIANGXI HUIHENG PROPERT 4.43 08/30/21 CNY 29.61
JIANGXI HUIHENG PROPERT 4.43 08/30/21 CNY 40.08
JIANGXI LONGHU MOUNTAIN 4.35 03/16/23 CNY 59.12
JIANGXI LONGHU MOUNTAIN 4.35 03/16/23 CNY 59.62
JIANGXI PINGXIANG CHANG 8.18 05/22/21 CNY 20.23
JIANGXI PINGXIANG CHANG 8.18 05/22/21 CNY 29.34
JIANGXI PROVINCE SITONG 8.20 04/18/21 CNY 20.10
JIANGXI PROVINCE SITONG 8.20 04/18/21 CNY 20.37
JIANGYOU HONGFEI INVEST 6.55 09/02/22 CNY 40.05
JIANGYOU HONGFEI INVEST 6.55 09/02/22 CNY 40.31
JIANHU COUNTY DEVELOPME 7.29 09/25/21 CNY 20.17
JIANHU COUNTY DEVELOPME 7.29 09/25/21 CNY 22.75
JIANHU URBAN CONSTRUCTI 3.28 10/13/21 CNY 39.42
JIANHU URBAN CONSTRUCTI 3.28 10/13/21 CNY 41.00
JIANHU URBAN CONSTRUCTI 6.30 06/01/22 CNY 39.91
JIANHU URBAN CONSTRUCTI 6.30 06/01/22 CNY 42.86
JIANYANG DEVELOPMENT HO 3.93 11/10/23 CNY 57.35
JIANYANG DEVELOPMENT HO 3.93 11/10/23 CNY 57.87
JIAXING ECONOMIC&TECHNO 7.89 03/05/21 CNY 20.09
JIAXING ECONOMIC&TECHNO 7.89 03/05/21 CNY 21.13
JIAXING NANHU INVESTMEN 7.45 02/26/21 CNY 20.04
JIAXING NANHU INVESTMEN 7.45 02/26/21 CNY 20.07
JIAXING XIANGJIADANG DE 4.13 07/20/23 CNY 59.53
JIAXING XIANGJIADANG DE 4.13 07/20/23 CNY 59.73
JIAXING XIANGJIADANG DE 3.87 09/21/23 CNY 58.12
JIAXING XIANGJIADANG DE 3.87 09/21/23 CNY 59.53
JIAYU COUNTY URBAN TOWN 5.70 01/19/23 CNY 40.41
JIAYU COUNTY URBAN TOWN 5.70 01/19/23 CNY 60.00
JIAYU COUNTY URBAN TOWN 6.50 01/19/24 CNY 61.67
JIAYU COUNTY URBAN TOWN 6.50 01/19/24 CNY 80.44
JIAYUGUAN CITY INFRASTR 7.83 09/23/21 CNY 20.00
JIAYUGUAN CITY INFRASTR 7.83 09/23/21 CNY 20.05
JIEYANG CITY INVESTMENT 6.55 08/27/21 CNY 20.27
JIEYANG CITY INVESTMENT 6.55 08/27/21 CNY 20.30
JILIN CITY CONSTRUCTION 3.80 01/27/23 CNY 59.06
JILIN ECONOMIC AND TECH 6.20 04/29/23 CNY 59.40
JILIN ECONOMIC AND TECH 6.20 04/29/23 CNY 60.18
JILIN NORTHEAST SOCK IN 7.50 05/19/22 CNY 71.02
JILIN RAILWAY INVESTMEN 7.18 03/04/21 CNY 19.85
JILIN RAILWAY INVESTMEN 7.18 03/04/21 CNY 20.05
JINAN CITY CONSTRUCTION 6.80 03/20/21 CNY 20.08
JINAN CITY CONSTRUCTION 6.80 03/20/21 CNY 20.26
JINAN CITY LICHENG DIST 5.00 06/23/22 CNY 39.69
JINAN CITY LICHENG DIST 5.00 06/23/22 CNY 40.41
JINAN HI-TECH HOLDING G 6.38 06/19/21 CNY 20.20
JINAN HI-TECH HOLDING G 6.38 06/19/21 CNY 20.22
JINCHANG CONSTRUCTION I 6.79 12/21/22 CNY 40.00
JINCHANG CONSTRUCTION I 6.79 12/21/22 CNY 40.46
JINCHENG STATE-OWNED CA 4.99 11/11/21 CNY 20.00
JINCHENG STATE-OWNED CA 4.99 11/11/21 CNY 20.15
JINGDEZHEN CERAMIC CULT 5.38 11/27/22 CNY 39.84
JINGDEZHEN CERAMIC CULT 5.38 11/27/22 CNY 40.00
JINGHONG STATE-OWNED AS 8.08 05/23/21 CNY 20.00
JINGHONG STATE-OWNED AS 8.08 05/23/21 CNY 20.01
JINGJIANG CITY INVESTME 4.55 03/30/23 CNY 59.65
JINGJIANG CITY INVESTME 4.55 03/30/23 CNY 59.77
JINGJIANG HARBOUR GROUP 7.30 08/05/21 CNY 20.16
JINGJIANG HARBOUR GROUP 7.30 08/05/21 CNY 20.16
JINGMEN CITY CONSTRUCTI 6.85 07/09/22 CNY 30.00
JINGMEN CITY CONSTRUCTI 6.85 07/09/22 CNY 30.57
JINGMEN HIGH-TECH DEVEL 5.48 08/11/22 CNY 39.80
JINGMEN HIGH-TECH DEVEL 5.48 08/11/22 CNY 40.13
JINGMEN HIGH-TECH DEVEL 4.15 07/28/23 CNY 58.87
JINGMEN HIGH-TECH DEVEL 4.15 07/28/23 CNY 59.01
JINGSHAN JINGCHENG INVE 4.38 08/29/23 CNY 58.70
JINGSHAN JINGCHENG INVE 4.38 08/29/23 CNY 59.78
JINGZHOU URBAN CONSTRUC 3.97 03/10/23 CNY 59.70
JINGZHOU URBAN CONSTRUC 3.97 03/10/23 CNY 59.82
JINHU COUNTY STATE-OWNE 7.75 08/25/21 CNY 20.33
JINHU COUNTY STATE-OWNE 7.75 08/25/21 CNY 21.33
JINHU COUNTY STATE-OWNE 4.00 07/26/22 CNY 49.71
JINHU COUNTY STATE-OWNE 4.00 07/26/22 CNY 49.99
JINING CITY SHIZHONG DI 6.39 01/29/22 CNY 40.09
JINING CITY SHIZHONG DI 6.39 01/29/22 CNY 44.44
JINING CITY SHIZHONG DI 3.52 09/14/23 CNY 58.99
JINING HIGH TECH URBAN 6.09 04/30/22 CNY 40.55
JINING HIGH TECH URBAN 6.09 04/30/22 CNY 41.50
JINSHA COUNTY CONSTRUCT 6.01 09/05/23 CNY 58.78
JINSHA COUNTY CONSTRUCT 6.01 09/05/23 CNY 59.19
JINTANG MODERN AGRICULT 5.49 07/14/23 CNY 58.90
JINTANG MODERN AGRICULT 5.49 07/14/23 CNY 59.42
JINZHAI URBAN DEVELOPME 5.90 04/25/23 CNY 60.88
JINZHAI URBAN DEVELOPME 5.90 04/25/23 CNY 60.93
JINZHOU CITY INVESTMENT 6.44 08/18/21 CNY 19.96
JINZHOU CITY INVESTMENT 6.44 08/18/21 CNY 24.91
JINZHOU HUAXING INVESTM 8.38 02/25/21 CNY 20.04
JINZHOU HUAXING INVESTM 8.38 02/25/21 CNY 25.00
JISHOU HUATAI STATE OWN 7.18 02/09/22 CNY 40.17
JISHOU HUATAI STATE OWN 7.18 02/09/22 CNY 42.82
JIUJIANG CITY CONSTRUCT 5.50 05/22/22 CNY 39.55
JIUJIANG CITY CONSTRUCT 5.50 05/22/22 CNY 40.51
JIUJIANG LAND INVESTMEN 6.20 03/23/22 CNY 40.36
JIUJIANG LAND INVESTMEN 6.20 03/23/22 CNY 40.52
JIUJIANG LIANXI DISTRIC 4.58 03/30/23 CNY 59.11
JIUJIANG LIANXI DISTRIC 4.58 03/30/23 CNY 59.54
JIUQUAN ECONOMIC DEVELO 7.40 02/26/21 CNY 20.03
JIUQUAN ECONOMIC DEVELO 7.40 02/26/21 CNY 20.60
JIXI STATE OWN ASSET MA 6.87 01/19/22 CNY 19.88
JIXI STATE OWN ASSET MA 6.87 01/19/22 CNY 20.85
JIZHONG ENERGY GROUP CO 6.05 08/13/22 CNY 59.77
KAIFENG URBAN OPERATION 6.35 03/23/22 CNY 40.10
KAIFENG URBAN OPERATION 6.35 03/23/22 CNY 40.11
KAIFU CITY DEVELOPMENT 4.20 01/21/23 CNY 38.50
KAIFU CITY DEVELOPMENT 4.20 01/21/23 CNY 59.86
KAIFU CITY DEVELOPMENT 3.73 08/22/23 CNY 59.30
KAIFU CITY DEVELOPMENT 3.73 08/22/23 CNY 59.39
KAILI GUIZHOU TOWN CONS 5.29 12/17/22 CNY 38.53
KAILI GUIZHOU TOWN CONS 5.29 12/17/22 CNY 40.00
KAILI GUIZHOU TOWN CONS 4.20 10/13/23 CNY 55.70
KAILI GUIZHOU TOWN CONS 4.20 10/13/23 CNY 55.97
KANGMEI PHARMACEUTICAL 6.28 03/20/21 CNY 20.13
KANGMEI PHARMACEUTICAL 6.10 03/28/21 CNY 20.13
KANGMEI PHARMACEUTICAL 5.50 04/20/21 CNY 20.13
KANGMEI PHARMACEUTICAL 7.00 06/21/21 CNY 18.95
KANGMEI PHARMACEUTICAL 6.80 06/28/21 CNY 20.13
KANGMEI PHARMACEUTICAL 6.33 01/27/22 CNY 36.69
KANGMEI PHARMACEUTICAL 5.20 07/17/22 CNY 20.34
KANGMEI PHARMACEUTICAL 5.29 08/16/22 CNY 20.13
KANGMEI PHARMACEUTICAL 5.47 09/15/22 CNY 20.13
KASHI URBAN CONSTRUCTIO 5.80 07/20/22 CNY 40.00
KASHI URBAN CONSTRUCTIO 5.80 07/20/22 CNY 40.33
KUNMING DONGJUN REAL ES 4.50 11/02/21 CNY 24.75
KUNSHAN COMMUNICATION D 6.95 05/22/21 CNY 20.24
KUNSHAN COMMUNICATION D 6.95 05/22/21 CNY 25.45
KUNSHAN HIGH TECHNOLOGY 7.10 03/26/21 CNY 20.10
LAIWU CITY ECONOMIC DEV 7.08 02/28/21 CNY 20.06
LAIWU CITY ECONOMIC DEV 7.08 02/28/21 CNY 20.60
LANZHOU STATE OWNED ASS 6.32 09/10/21 CNY 14.90
LANZHOU STATE OWNED ASS 6.32 09/10/21 CNY 19.79
LAOHEKOU CITY CONSTRUCT 6.75 08/12/22 CNY 39.99
LAOHEKOU CITY CONSTRUCT 6.75 08/12/22 CNY 40.33
LEIYANG CITY AND RURAL 7.80 04/10/22 CNY 40.95
LEIYANG CITY AND RURAL 7.80 04/10/22 CNY 40.95
LEPING STATE-OWNED ASSE 3.70 10/20/23 CNY 58.69
LEPING STATE-OWNED ASSE 3.70 10/20/23 CNY 59.30
LEQING CITY STATE OWNED 5.99 10/20/21 CNY 20.35
LEQING CITY STATE OWNED 5.99 10/20/21 CNY 20.85
LESHAN STATE-OWNED ASSE 5.68 10/22/21 CNY 20.00
LESHAN STATE-OWNED ASSE 5.68 10/22/21 CNY 20.16
LIANYUNGANG TRANSPORT G 5.47 11/17/21 CNY 20.15
LIANYUNGANG TRANSPORT G 5.47 11/17/21 CNY 25.00
LIAOCHENG ANTAI URBAN R 5.16 04/11/23 CNY 59.28
LIAOCHENG ANTAI URBAN R 4.58 04/11/23 CNY 59.74
LIAOCHENG ANTAI URBAN R 4.58 04/11/23 CNY 59.82
LIAOCHENG ANTAI URBAN R 5.16 04/11/23 CNY 60.11
LIAOCHENG XINGYE ECONOM 5.20 04/13/23 CNY 59.00
LIAOCHENG XINGYE ECONOM 5.20 04/13/23 CNY 60.54
LIAONING COASTAL ECONOM 8.90 04/01/21 CNY 3.63
LIAONING COASTAL ECONOM 8.90 04/01/21 CNY 10.99
LIAONING GUANLONG CONST 4.70 11/10/23 CNY 58.65
LIAONING GUANLONG CONST 4.70 11/10/23 CNY 58.80
LIAONING YAODU DEVELOPM 6.50 04/29/23 CNY 60.60
LILING HIGH-TECH INDUST 4.93 01/19/23 CNY 38.84
LILING HIGH-TECH INDUST 4.93 01/19/23 CNY 39.97
LINFEN YAODU DISTRICT I 7.19 03/13/22 CNY 40.39
LINFEN YAODU DISTRICT I 7.19 03/13/22 CNY 40.49
LINYI CITY DEVELOPMENT 3.85 11/22/23 CNY 59.14
LINYI CITY DEVELOPMENT 3.85 11/22/23 CNY 59.69
LISHUI CITY CULTURAL TO 5.67 08/13/22 CNY 39.93
LISHUI CITY CULTURAL TO 5.67 08/13/22 CNY 40.50
LIUPANSHUI DEVELOPMENT 3.74 01/20/23 CNY 38.38
LIUPANSHUI DEVELOPMENT 3.74 01/20/23 CNY 39.57
LIUPANSHUI MINSHENG INV 5.08 01/29/23 CNY 52.88
LIUPANSHUI MINSHENG INV 5.08 01/29/23 CNY 59.56
LIUYANG MODERN MANUFACT 4.72 01/19/23 CNY 39.24
LIUYANG MODERN MANUFACT 4.72 01/19/23 CNY 39.37
LIUYANG URBAN CONSTRUCT 6.98 08/22/21 CNY 20.38
LIUYANG URBAN CONSTRUCT 4.45 05/24/23 CNY 60.36
LIUYANG URBAN CONSTRUCT 4.45 05/24/23 CNY 60.41
LIUZHOU CITY INVESTMENT 7.18 12/31/22 CNY 30.12
LIUZHOU DONGTONG INVEST 4.45 07/22/23 CNY 58.03
LIUZHOU DONGTONG INVEST 4.45 07/22/23 CNY 58.09
LIUZHOU INVESTMENT HOLD 4.28 03/08/23 CNY 58.81
LIUZHOU INVESTMENT HOLD 4.28 03/08/23 CNY 58.83
LIUZHOU LONGJIAN INVEST 8.28 04/30/24 CNY 61.99
LIYANG KUNLUN URBAN CON 5.90 10/24/21 CNY 18.00
LIYANG KUNLUN URBAN CON 5.90 10/24/21 CNY 20.22
LONGHAI STATE-OWNED ASS 6.58 08/15/21 CNY 20.20
LONGYAN RAILWAY CONSTRU 4.98 04/13/23 CNY 59.45
LONGYAN RAILWAY CONSTRU 4.98 04/13/23 CNY 59.60
LOUDI CITY CONSTRUCTION 7.95 04/15/21 CNY 20.14
LOUDI CITY CONSTRUCTION 7.95 04/15/21 CNY 30.31
LOUDI TIDU INVESTMENT D 7.18 08/27/21 CNY 19.95
LOUDI TIDU INVESTMENT D 7.18 08/27/21 CNY 20.00
LOUDI TIDU INVESTMENT D 4.83 01/20/23 CNY 39.60
LOUDI TIDU INVESTMENT D 4.83 01/20/23 CNY 39.75
LOUDI WANBAO NEW DISTRI 5.13 02/01/23 CNY 59.42
LOUDI WANBAO NEW DISTRI 5.13 02/01/23 CNY 59.51
LOUDI WANBAO NEW DISTRI 4.42 08/01/23 CNY 58.36
LOUDI WANBAO NEW DISTRI 4.42 08/01/23 CNY 58.72
LU'AN CITY CONSTRUCTION 3.97 02/22/21 CNY 50.03
LU'AN CITY CONSTRUCTION 5.05 04/26/21 CNY 50.17
LUJIANG CITY CONSTRUCTI 6.70 04/16/22 CNY 40.00
LUJIANG CITY CONSTRUCTI 6.70 04/16/22 CNY 40.61
LUOYANG CITY COUNTRY CO 4.28 04/26/23 CNY 60.26
LUOYANG CITY COUNTRY CO 4.28 04/26/23 CNY 60.54
LUOYANG CITY DEVELOPMEN 4.47 12/02/22 CNY 40.00
LUOYANG CITY DEVELOPMEN 4.47 12/02/22 CNY 40.28
LUZHOU FUYANG INVESTMEN 5.00 08/11/23 CNY 59.26
LUZHOU FUYANG INVESTMEN 5.00 08/11/23 CNY 59.27
LUZHOU XINGLU INVESTMEN 6.41 04/23/25 CNY 70.00
LUZHOU XINGLU INVESTMEN 6.41 04/23/25 CNY 73.70
LUZHOU XINGYANG INVESTM 4.87 01/28/23 CNY 59.37
LUZHOU XINGYANG INVESTM 4.87 01/28/23 CNY 59.73
MA'ANSHAN CIHU HIGH TEC 6.85 09/09/21 CNY 20.16
MA'ANSHAN CIHU HIGH TEC 6.85 09/09/21 CNY 23.00
MA'ANSHAN CIHU HIGH TEC 3.90 11/28/23 CNY 59.09
MA'ANSHAN CIHU HIGH TEC 3.90 11/28/23 CNY 60.40
MAANSHAN ECONOMIC TECHN 6.49 03/06/22 CNY 40.21
MAANSHAN ECONOMIC TECHN 6.49 03/06/22 CNY 44.99
MAANSHAN HUASHAN DISTRI 6.07 04/20/22 CNY 40.46
MAANSHAN HUASHAN DISTRI 6.07 04/20/22 CNY 40.60
MAANSHAN SOUTHERN INDUS 4.53 07/25/23 CNY 58.41
MAANSHAN SOUTHERN INDUS 4.53 07/25/23 CNY 58.69
MAANSHAN SOUTHERN INDUS 4.43 09/02/23 CNY 58.04
MAANSHAN SOUTHERN INDUS 4.43 09/02/23 CNY 58.71
MEISHAN ASSET MANAGEMEN 7.84 02/26/21 CNY 20.00
MEISHAN ASSET MANAGEMEN 7.84 02/26/21 CNY 20.05
MEISHAN CITY DONGPO DEV 5.90 06/30/23 CNY 59.39
MEISHAN CITY DONGPO DEV 5.90 06/30/23 CNY 59.54
MEISHAN HONGDA CONSTRUC 4.18 03/28/23 CNY 59.17
MEISHAN HONGDA CONSTRUC 4.18 03/28/23 CNY 59.23
MEIZHOU CITY XIN JIN YE 6.02 04/22/22 CNY 40.48
MEIZHOU CITY XIN JIN YE 6.02 04/22/22 CNY 45.32
MEIZHOU MEI COUNTY DIST 5.00 12/30/22 CNY 40.00
MEIZHOU MEI COUNTY DIST 5.00 12/30/22 CNY 40.13
MUDANJIANG AREA URBAN D 6.48 06/30/22 CNY 40.00
MUDANJIANG AREA URBAN D 6.48 06/30/22 CNY 45.00
MUDANJIANG STATE-OWNED 7.70 04/14/21 CNY 20.08
MUDANJIANG STATE-OWNED 7.70 04/14/21 CNY 20.08
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 59.40
NANCHANG ECONOMY TECHNO 3.83 09/22/23 CNY 59.48
NANCHONG AIRPORT INVEST 6.80 01/26/22 CNY 39.99
NANCHONG AIRPORT INVEST 6.80 01/26/22 CNY 40.18
NANCHONG ECONOMIC DEVEL 8.28 04/21/21 CNY 20.11
NANCHONG ECONOMIC DEVEL 8.28 04/21/21 CNY 31.20
NANJING BAIXIA STATE-OW 3.98 03/29/23 CNY 59.90
NANJING BAIXIA STATE-OW 3.98 03/29/23 CNY 60.07
NANJING HEXI NEW TOWN A 3.47 06/17/21 CNY 40.01
NANJING HEXI NEW TOWN A 3.20 07/22/21 CNY 39.76
NANJING JIANGNING ECONO 7.94 04/14/24 CNY 64.04
NANJING JIANGNING URBAN 3.48 11/11/23 CNY 59.46
NANJING JIANGNING URBAN 3.48 11/11/23 CNY 59.66
NANJING JIANYE SCIENCE 4.37 06/24/23 CNY 60.00
NANJING JIANYE SCIENCE 4.37 06/24/23 CNY 60.12
NANJING LISHUI ECONOMIC 6.27 09/22/21 CNY 20.23
NANJING LISHUI ECONOMIC 6.27 09/22/21 CNY 21.29
NANJING LISHUI ECONOMIC 3.41 11/09/23 CNY 59.03
NANJING LISHUI ECONOMIC 3.41 11/09/23 CNY 59.50
NANJING LISHUI URBAN CO 4.97 04/28/23 CNY 59.94
NANJING LISHUI URBAN CO 4.97 04/28/23 CNY 60.65
NANJING METRO GROUP CO 3.29 08/29/23 CNY 59.40
NANJING METRO GROUP CO 3.29 08/29/23 CNY 59.76
NANJING QIXIA STATE-OWN 4.10 06/24/23 CNY 59.67
NANJING QIXIA STATE-OWN 4.10 06/24/23 CNY 60.23
NANJING STATE OWNED ASS 5.60 03/06/23 CNY 45.96
NANJING STATE OWNED ASS 5.60 03/06/23 CNY 46.10
NANJING TANGSHAN CONSTR 6.80 06/30/21 CNY 20.13
NANJING TANGSHAN CONSTR 6.80 06/30/21 CNY 26.80
NANNING HI-TECH INDUSTR 4.28 03/25/23 CNY 55.20
NANNING HI-TECH INDUSTR 4.28 03/25/23 CNY 59.29
NANNING HI-TECH INDUSTR 3.82 10/20/23 CNY 58.01
NANNING HI-TECH INDUSTR 3.82 10/20/23 CNY 58.41
NANNING LVGANG CONSTRUC 7.30 06/27/21 CNY 19.64
NANNING LVGANG CONSTRUC 7.30 06/27/21 CNY 24.80
NANPING CITY WUYI NEW D 4.96 09/28/22 CNY 40.18
NANPING CITY WUYI NEW D 4.96 09/28/22 CNY 40.60
NANTONG CHONGCHUAN URBA 7.15 04/18/21 CNY 20.07
NANTONG CHONGCHUAN URBA 7.15 04/18/21 CNY 25.40
NANTONG CHONGCHUAN URBA 5.70 07/21/22 CNY 70.00
NANTONG CHONGCHUAN URBA 5.70 07/21/22 CNY 71.22
NANTONG CITY GANGZHA DI 3.80 09/06/21 CNY 39.79
NANTONG CITY GANGZHA DI 3.80 09/06/21 CNY 39.85
NANTONG CITY TONGZHOU D 3.75 07/07/23 CNY 59.44
NANTONG CITY TONGZHOU D 3.75 07/07/23 CNY 60.13
NANTONG HIGH TECHNOLOGY 5.00 10/19/22 CNY 40.38
NANTONG HIGH TECHNOLOGY 5.00 10/19/22 CNY 41.52
NANTONG SUTONG SCIENCE 6.20 03/18/22 CNY 40.00
NANTONG SUTONG SCIENCE 6.20 03/18/22 CNY 40.36
NANYANG HIGH-TECH DISTR 6.45 04/29/23 CNY 60.27
NANYANG HIGH-TECH DISTR 6.45 04/29/23 CNY 61.14
NANZHANG COUNTY CONSTRU 6.00 01/20/24 CNY 59.86
NANZHANG COUNTY CONSTRU 6.00 01/20/24 CNY 62.05
NEIJIANG CITY XINGYUAN 4.28 08/16/23 CNY 58.17
NEIJIANG CITY XINGYUAN 4.28 08/16/23 CNY 58.29
NEIJIANG INVESTMENT HOL 7.99 04/24/21 CNY 20.10
NEIJIANG INVESTMENT HOL 7.99 04/24/21 CNY 28.53
NEIJIANG STATE-OWNED AS 6.20 04/12/23 CNY 59.64
NEIJIANG STATE-OWNED AS 6.20 04/12/23 CNY 59.68
NEIJINAG CONSTRUCTION E 5.03 12/25/22 CNY 36.36
NEIJINAG CONSTRUCTION E 5.03 12/25/22 CNY 39.60
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 20.07
NINGBO CITY HAISHU GUAN 7.75 03/06/21 CNY 26.30
NINGBO CITY ZHENHAI INV 5.85 12/04/21 CNY 20.32
NINGBO CITY ZHENHAI INV 5.85 12/04/21 CNY 20.36
NINGBO ECONOMIC & TECHN 7.09 04/21/21 CNY 20.15
NINGBO ECONOMIC & TECHN 7.09 04/21/21 CNY 29.00
NINGBO MEISHAN ISLAND D 6.27 03/23/22 CNY 40.38
NINGBO MEISHAN ISLAND D 6.27 03/23/22 CNY 48.29
NINGGUO CITY STATE OWNE 8.70 04/28/21 CNY 20.22
NINGHAI CITY INVESTMENT 7.99 04/16/21 CNY 20.20
NINGHAI CITY INVESTMENT 7.99 04/16/21 CNY 20.70
NINGXIANG CITY CONSTRUC 6.70 01/20/22 CNY 20.20
NINGXIANG CITY CONSTRUC 6.70 01/20/22 CNY 20.52
NINGXIANG ECONOMIC TECH 8.20 04/16/21 CNY 20.15
NINGXIANG ECONOMIC TECH 3.87 01/27/23 CNY 59.63
NINGXIANG ECONOMIC TECH 3.87 01/27/23 CNY 60.00
NINGXIANG STATE-OWNED A 4.89 06/03/23 CNY 59.20
NINGXIANG STATE-OWNED A 4.89 06/03/23 CNY 59.53
NINGXIANG STATE-OWNED A 3.88 11/02/23 CNY 58.89
NINGXIANG STATE-OWNED A 3.88 11/02/23 CNY 59.02
ONE BELT ONE ROAD JIANG 4.70 07/15/23 CNY 60.12
ONE BELT ONE ROAD JIANG 4.70 07/15/23 CNY 60.19
PANJIN CITY SHUANGTAIZI 7.25 01/22/22 CNY 20.02
PANJIN CITY SHUANGTAIZI 7.25 01/22/22 CNY 20.76
PANJIN WATER GROUP CO L 5.18 10/28/23 CNY 56.98
PANJIN WATER GROUP CO L 5.18 10/28/23 CNY 59.33
PANSHAN COUNTY STATE-OW 7.48 01/21/22 CNY 20.32
PANSHAN COUNTY STATE-OW 7.48 01/21/22 CNY 20.32
PANZHIHUA STATE OWNED A 7.60 03/05/21 CNY 20.06
PANZHIHUA STATE OWNED A 7.60 03/05/21 CNY 20.32
PANZHIHUA STATE OWNED A 8.18 03/13/22 CNY 40.00
PANZHIHUA STATE OWNED A 8.18 03/13/22 CNY 40.70
PEIXIAN CITY INVESTMENT 5.20 11/10/22 CNY 40.00
PEIXIAN CITY INVESTMENT 5.20 11/10/22 CNY 40.18
PEKING UNIVERSITY FOUND 6.20 05/31/20 CNY 11.00
PEKING UNIVERSITY FOUND 6.15 07/23/20 CNY 11.00
PEKING UNIVERSITY FOUND 6.30 09/12/20 CNY 11.00
PEKING UNIVERSITY FOUND 4.80 07/26/21 CNY 11.00
PEKING UNIVERSITY FOUND 6.10 08/22/21 CNY 11.00
PEKING UNIVERSITY FOUND 5.99 11/02/21 CNY 11.00
PEKING UNIVERSITY FOUND 5.80 01/28/22 CNY 11.00
PEKING UNIVERSITY FOUND 6.68 08/09/23 CNY 11.00
PEKING UNIVERSITY FOUND 6.50 11/16/23 CNY 11.00
PEKING UNIVERSITY FOUND 6.30 03/04/24 CNY 11.00
PENGZHOU STATE-PENGZHOU 3.95 10/20/23 CNY 57.19
PENGZHOU STATE-PENGZHOU 3.95 10/20/23 CNY 58.09
PINGHU CITY INVESTMENT 5.13 04/29/23 CNY 60.51
PINGHU CITY INVESTMENT 5.13 04/29/23 CNY 60.58
PINGHU ECONOMIC DEVELOP 7.99 04/17/21 CNY 20.10
PINGHU ECONOMIC DEVELOP 7.99 04/17/21 CNY 20.66
PINGLIANG CULTURAL & TO 6.85 11/30/22 CNY 36.00
PINGLIANG CULTURAL & TO 6.85 11/30/22 CNY 40.46
PINGTAN COMPREHENSIVE P 3.92 01/29/23 CNY 60.00
PINGTAN COMPREHENSIVE P 3.92 01/29/23 CNY 60.14
PINGXIANG CHANGXING INV 5.26 04/11/23 CNY 59.12
PINGXIANG CHANGXING INV 5.26 04/11/23 CNY 59.51
PINGXIANG HUIFENG INVES 6.60 01/26/22 CNY 40.01
PINGXIANG HUIFENG INVES 6.60 01/26/22 CNY 40.54
PINGYANG STATE-OWNED AS 4.97 01/08/23 CNY 40.00
PINGYANG STATE-OWNED AS 4.97 01/08/23 CNY 40.15
PIZHOU CITY HENGRUN INV 6.46 12/05/21 CNY 20.20
PIZHOU CITY HENGRUN INV 6.46 12/05/21 CNY 22.46
PIZHOU ECONOMIC DEVELOP 5.00 10/29/22 CNY 39.49
PIZHOU ECONOMIC DEVELOP 5.00 10/29/22 CNY 40.00
PUTIAN HIGH TECHNOLOGY 5.90 05/03/22 CNY 49.63
PUTIAN HIGH TECHNOLOGY 5.90 05/03/22 CNY 49.63
QIANAN URBAN CONSTRUCTI 8.88 01/23/21 CNY 20.00
QIANAN URBAN CONSTRUCTI 8.88 01/23/21 CNY 20.00
QIANAN URBAN CONSTRUCTI 7.19 08/11/21 CNY 20.00
QIANAN URBAN CONSTRUCTI 7.19 08/11/21 CNY 20.21
QIANAN XINGYUAN WATER I 6.25 04/22/22 CNY 40.34
QIANAN XINGYUAN WATER I 6.25 04/22/22 CNY 46.90
QIANDONGNAN TRANSPORTAT 5.79 12/21/22 CNY 37.20
QIANDONGNAN TRANSPORTAT 5.79 12/21/22 CNY 37.78
QIANDONGNANZHOU KAIHONG 5.30 09/22/26 CNY 63.88
QIANDONGNANZHOU KAIHONG 5.30 09/22/26 CNY 63.98
QIANJIANG URBAN CONSTRU 8.38 04/22/21 CNY 20.17
QIANJIANG URBAN CONSTRU 8.38 04/22/21 CNY 20.35
QIANJIANG URBAN CONSTRU 5.19 12/21/22 CNY 39.96
QIANJIANG URBAN CONSTRU 5.19 12/21/22 CNY 40.00
QIANNANZHOU INVESTMENT 6.43 03/09/22 CNY 39.58
QIANXINAN AUTONOMOUS RE 5.90 06/22/23 CNY 59.05
QIANXINAN AUTONOMOUS RE 5.90 06/22/23 CNY 59.83
QICHUN COUNTY CONSTRUCT 4.96 10/18/23 CNY 57.60
QICHUN COUNTY CONSTRUCT 4.96 10/18/23 CNY 57.81
QIDONG COMMUNICATIONS I 4.00 03/18/23 CNY 59.75
QIDONG STATE-OWNED ASSE 7.30 11/20/22 CNY 31.01
QIDONG STATE-OWNED ASSE 4.00 03/09/23 CNY 59.30
QIDONG STATE-OWNED ASSE 4.00 03/09/23 CNY 60.05
QIDONG URBAN CONSTRUCTI 8.20 04/04/21 CNY 20.20
QIDONG URBAN CONSTRUCTI 8.20 04/04/21 CNY 20.46
QIDONG URBAN CONSTRUCTI 7.90 04/28/21 CNY 20.14
QIHE CITY OPERATION CON 5.10 03/07/23 CNY 59.51
QIHE CITY OPERATION CON 5.10 03/07/23 CNY 59.61
QINGDAO CHANGYANG INVES 3.73 09/12/23 CNY 59.09
QINGDAO CHANGYANG INVES 3.73 09/12/23 CNY 59.09
QINGDAO CONSON DEVELOPM 6.40 12/12/22 CNY 31.17
QINGDAO CONSON DEVELOPM 6.40 12/12/22 CNY 31.20
QINGDAO HICREAT DEVELOP 6.88 04/25/21 CNY 20.13
QINGDAO HICREAT DEVELOP 6.88 04/25/21 CNY 21.13
QINGDAO JIAOZHOU BAY DE 6.33 09/18/21 CNY 20.35
QINGDAO JIAOZHOU BAY DE 6.33 09/18/21 CNY 21.30
QINGDAO JIMO CITY TOURI 5.47 11/17/21 CNY 20.29
QINGDAO JIMO CITY TOURI 5.47 11/17/21 CNY 21.00
QINGDAO LAIXI CITY ASSE 7.50 03/06/21 CNY 20.08
QINGDAO LAIXI CITY ASSE 7.50 03/06/21 CNY 28.79
QINGDAO OCEAN INVESTMEN 4.36 05/12/23 CNY 59.57
QINGDAO OCEAN INVESTMEN 4.36 05/12/23 CNY 60.20
QINGDAO WEST COAST DEVE 4.26 06/06/23 CNY 59.68
QINGDAO WEST COAST DEVE 4.26 06/06/23 CNY 60.08
QINGHAI PROVINCIAL INVE 7.25 02/22/20 USD 29.41
QINGHAI PROVINCIAL INVE 7.88 03/22/21 USD 30.00
QINGHAI PROVINCIAL INVE 6.40 07/10/21 USD 31.16
QINGHAI STATE-OWNED ASS 5.90 12/17/22 CNY 56.00
QINGHAI STATE-OWNED ASS 5.40 05/21/23 CNY 30.45
QINGHAI STATE-OWNED ASS 6.38 08/14/28 CNY 44.63
QINGHAI STATE-OWNED ASS 7.20 11/25/28 CNY 44.63
QINGHAI STATE-OWNED ASS 6.70 10/10/29 CNY 44.63
QINGYANG CITY ECONOMIC 7.98 04/16/21 CNY 20.08
QINGYANG CITY ECONOMIC 7.98 04/16/21 CNY 20.08
QINGZHOU HONGYUAN PUBLI 7.59 05/29/21 CNY 20.06
QINHUANGDAO CITY DEVELO 4.69 04/14/23 CNY 59.19
QINHUANGDAO CITY DEVELO 4.69 04/14/23 CNY 60.11
QINHUANGDAO DEVELOPMENT 8.45 04/18/21 CNY 20.15
QINHUANGDAO DEVELOPMENT 8.45 04/18/21 CNY 21.28
QINHUANGDAO DEVELOPMENT 4.07 08/26/23 CNY 57.57
QINHUANGDAO DEVELOPMENT 4.07 08/26/23 CNY 58.39
QINZHOU BINHAI NEW CITY 6.99 07/07/21 CNY 20.00
QINZHOU BINHAI NEW CITY 6.99 07/07/21 CNY 20.00
QIONGLAI CITY CONSTRUCT 6.98 03/25/22 CNY 40.36
QIONGLAI CITY CONSTRUCT 6.98 03/25/22 CNY 40.80
QUANJIAO URBAN INFRASTR 5.10 05/18/23 CNY 59.90
QUANJIAO URBAN INFRASTR 5.10 05/18/23 CNY 60.11
QUJING CITY QILIN DISTR 5.37 11/26/22 CNY 39.67
QUJING CITY QILIN DISTR 5.37 11/26/22 CNY 41.95
QUJING DEVELOPMENT INVE 7.48 04/28/21 CNY 20.13
QUJING DEVELOPMENT INVE 7.48 04/28/21 CNY 22.55
QUJING ECO TECH DEVELOP 7.48 07/21/21 CNY 19.92
QUJING ECO TECH DEVELOP 7.48 07/21/21 CNY 20.04
QUJING ECO TECH DEVELOP 5.75 06/01/23 CNY 59.44
QUJING ECO TECH DEVELOP 5.75 06/01/23 CNY 59.92
QUZHOU STATE OWNED ASSE 7.20 04/21/21 CNY 20.19
QUZHOU STATE OWNED ASSE 7.20 04/21/21 CNY 23.42
RENHUAI CITY DEVELOPMEN 8.09 05/16/21 CNY 20.24
RENHUAI CITY DEVELOPMEN 8.09 05/16/21 CNY 20.25
RENHUAI CITY DEVELOPMEN 5.12 04/14/23 CNY 58.39
RENHUAI CITY DEVELOPMEN 5.12 04/14/23 CNY 58.41
RENQIU CONSTRUCTION INV 5.68 11/18/22 CNY 40.81
RENQIU CONSTRUCTION INV 5.68 11/18/22 CNY 41.09
RENSHOU DEVELOPMENT OF 6.42 12/22/22 CNY 40.00
RENSHOU DEVELOPMENT OF 6.42 12/22/22 CNY 40.14
REWARD SCIENCE AND TECH 5.53 07/05/21 CNY 29.10
REWARD SCIENCE AND TECH 6.40 03/03/22 CNY 70.00
RIGHT WAY REAL ESTATE D 8.00 07/15/21 CNY 43.89
RIZHAO CITY CONSTRUCTIO 3.98 12/07/22 CNY 39.63
RUDONG COUNTY DONGTAI S 6.99 06/20/21 CNY 20.17
RUDONG COUNTY DONGTAI S 6.99 06/20/21 CNY 25.90
RUDONG COUNTY JINXIN TR 8.08 03/03/21 CNY 20.11
RUDONG COUNTY JINXIN TR 8.08 03/03/21 CNY 24.03
RUDONG COUNTY JINXIN TR 3.80 07/26/23 CNY 59.45
RUDONG COUNTY JINXIN TR 3.80 07/26/23 CNY 59.62
RUDONG COUNTY JINXIN TR 4.57 07/26/23 CNY 59.73
RUDONG COUNTY JINXIN TR 4.57 07/26/23 CNY 59.77
RUDONG COUNTY KAITAI CI 4.57 01/08/23 CNY 39.88
RUDONG NEW WORLD INVEST 4.37 07/18/23 CNY 59.50
RUDONG NEW WORLD INVEST 4.37 07/18/23 CNY 59.66
RUGAO COMMUNICATIONS CO 3.74 03/23/23 CNY 59.53
RUGAO COMMUNICATIONS CO 3.74 03/23/23 CNY 59.88
RUGAO ECONOMIC & TRADE 3.95 03/24/23 CNY 59.87
RUGAO ECONOMIC & TRADE 3.95 03/24/23 CNY 60.00
RUGAO YANJIANG DEVELOPM 8.60 01/24/21 CNY 20.00
RUGAO YANJIANG DEVELOPM 8.60 01/24/21 CNY 20.05
RUIAN STATE OWNED ASSET 4.56 01/27/23 CNY 59.79
RUIAN STATE OWNED ASSET 4.56 01/27/23 CNY 60.23
RUICHANG CITY INVESTMEN 5.68 03/25/23 CNY 60.70
RUICHANG CITY INVESTMEN 5.68 03/25/23 CNY 60.70
RUICHANG CITY INVESTMEN 5.50 06/17/23 CNY 59.94
RUICHANG CITY INVESTMEN 5.50 06/17/23 CNY 60.69
RUIJIN URBAN DEVELOPMEN 4.13 09/06/23 CNY 58.36
RUIJIN URBAN DEVELOPMEN 4.13 09/06/23 CNY 58.57
RUZHOU CITY XINYUAN INV 6.30 09/16/21 CNY 25.12
RUZHOU CITY XINYUAN INV 4.43 09/26/23 CNY 56.18
RUZHOU CITY XINYUAN INV 4.43 09/26/23 CNY 56.20
SANMEN COUNTY STATE-OWN 6.85 10/29/21 CNY 20.00
SANMEN COUNTY STATE-OWN 6.85 10/29/21 CNY 20.26
SANMEN COUNTY STATE-OWN 6.80 03/18/22 CNY 40.00
SANMEN COUNTY STATE-OWN 6.80 03/18/22 CNY 40.69
SANMING TRANSPORTATION 3.68 03/29/23 CNY 59.53
SHAANXI ANKANG HIGH TEC 8.78 09/17/21 CNY 20.38
SHAANXI ANKANG HIGH TEC 8.78 09/17/21 CNY 27.00
SHAANXI XIXIAN NEW AREA 5.10 06/06/23 CNY 59.33
SHAANXI XIXIAN NEW AREA 5.10 06/06/23 CNY 59.35
SHAANXI XIXIAN NEW AREA 6.85 08/15/21 CNY 19.80
SHAANXI XIXIAN NEW AREA 6.85 08/15/21 CNY 20.06
SHAANXI XIXIAN NEW AREA 6.89 01/05/22 CNY 20.12
SHAANXI XIXIAN NEW AREA 6.89 01/05/22 CNY 23.10
SHAANXI XIXIAN NEW AREA 5.15 11/27/22 CNY 39.83
SHAANXI XIXIAN NEW AREA 5.15 11/27/22 CNY 41.01
SHANDONG BORUN INDUSTRI 6.50 11/02/21 CNY 33.24
SHANDONG BOXING COUNTY 8.00 12/22/21 CNY 20.58
SHANDONG BOXING COUNTY 8.00 12/22/21 CNY 20.62
SHANDONG CENTURY SUNSHI 8.19 07/21/21 CNY 20.36
SHANDONG CENTURY SUNSHI 8.19 07/21/21 CNY 20.37
SHANDONG FUYU CHEMICAL 7.70 09/18/22 CNY 70.00
SHANDONG GAOCHUANG CONS 6.05 06/18/22 CNY 40.50
SHANDONG GAOCHUANG CONS 6.05 06/18/22 CNY 42.45
SHANDONG HONGHE HOLDING 8.50 06/23/21 CNY 20.29
SHANDONG HONGHE HOLDING 8.50 06/23/21 CNY 24.00
SHANDONG JINMAO TEXTILE 6.97 04/01/21 CNY 20.70
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 42.70
SHANDONG TENGJIAN INVES 6.00 06/08/22 CNY 40.00
SHANDONG TENGJIAN INVES 6.00 06/08/22 CNY 40.12
SHANDONG WANTONG PETROL 7.97 11/29/21 CNY 0.20
SHANGHAI CAOHEJING HI-T 7.24 04/09/21 CNY 20.13
SHANGHAI CAOHEJING HI-T 7.24 04/09/21 CNY 20.13
SHANGHAI JIADING ROAD C 6.80 04/23/21 CNY 20.17
SHANGHAI JIADING ROAD C 6.80 04/23/21 CNY 20.75
SHANGHAI LAKE DIANSHAN 5.95 01/30/21 CNY 24.99
SHANGHAI LAKE DIANSHAN 5.95 01/30/21 CNY 25.75
SHANGHAI MINHANG URBAN 5.63 04/20/22 CNY 40.55
SHANGHAI MINHANG URBAN 5.63 04/20/22 CNY 40.79
SHANGHAI MUNICIPAL INVE 4.80 11/05/24 CNY 61.30
SHANGHAI MUNICIPAL INVE 4.80 11/05/24 CNY 61.60
SHANGHAI NANHUI URBAN C 6.04 08/20/21 CNY 20.31
SHANGHAI NANHUI URBAN C 6.04 08/20/21 CNY 20.33
SHANGHAI PUTAILAI NEW E 5.50 03/19/21 CNY 66.67
SHANGHAI URBAN CONSTRUC 3.50 01/06/23 CNY 39.40
SHANGHAI URBAN CONSTRUC 3.50 01/06/23 CNY 40.03
SHANGRAO CITY STATE-OWN 4.65 01/29/23 CNY 60.02
SHANGRAO CITY STATE-OWN 4.65 01/29/23 CNY 60.22
SHANTOU CITY CONSTRUCTI 8.57 03/23/22 CNY 30.88
SHANTOU INVESTMENT HOLD 7.99 03/04/24 CNY 63.50
SHANTOU INVESTMENT HOLD 7.99 03/04/24 CNY 63.55
SHANXI INTERNATIONAL EL 5.88 05/24/22 CNY 62.60
SHANXI XIANG KUANG GROU 8.80 02/11/22 CNY 54.50
SHANXI XIANG KUANG GROU 8.80 02/11/22 CNY 70.29
SHAOGUAN URBAN INVESTME 3.67 10/25/24 CNY 68.56
SHAOGUAN URBAN INVESTME 3.67 10/25/24 CNY 68.68
SHAOWU URBAN CONSTRUCTI 5.88 09/11/22 CNY 40.08
SHAOWU URBAN CONSTRUCTI 5.88 09/11/22 CNY 43.39
SHAOXING CHENGZHONGCUN 6.09 04/27/22 CNY 40.39
SHAOXING CHENGZHONGCUN 6.09 04/27/22 CNY 40.51
SHAOXING CITY INVESTMEN 5.75 04/17/22 CNY 40.75
SHAOXING CITY INVESTMEN 5.75 04/17/22 CNY 48.00
SHAOXING CITY KEQIAO DI 6.40 08/20/21 CNY 20.22
SHAOXING CITY KEQIAO DI 6.40 08/20/21 CNY 20.48
SHAOXING JINGHU NEW DIS 6.13 04/30/22 CNY 40.57
SHAOXING KEQIAO CITY CO 3.64 09/19/23 CNY 59.17
SHAOXING KEQIAO CITY CO 3.64 09/19/23 CNY 59.26
SHAOXING KEQIAO ECONOMI 7.00 12/10/21 CNY 20.00
SHAOXING KEQIAO ECONOMI 7.00 12/10/21 CNY 20.45
SHAOXING KEYAN CONSTRUC 6.28 03/24/22 CNY 40.00
SHAOXING KEYAN CONSTRUC 6.28 03/24/22 CNY 40.44
SHAOXING PAOJIANG INDUS 6.98 05/29/21 CNY 20.16
SHAOXING PAOJIANG INDUS 6.98 05/29/21 CNY 23.90
SHAOXING SHANGYU ECONOM 4.76 04/11/23 CNY 59.73
SHAOXING SHANGYU ECONOM 4.76 04/11/23 CNY 60.13
SHAOXING SHANGYU URBAN 6.80 08/07/21 CNY 20.26
SHAOXING SHANGYU URBAN 6.80 08/07/21 CNY 21.15
SHAOYANG BAOQING INDUST 5.78 07/04/26 CNY 69.31
SHAOYANG DULIANG INVEST 5.50 04/13/23 CNY 58.94
SHAOYANG DULIANG INVEST 5.50 04/13/23 CNY 59.74
SHENGZHOU INVESTMENT HO 7.60 07/17/21 CNY 20.39
SHENGZHOU INVESTMENT HO 7.60 07/17/21 CNY 20.59
SHENMU CITY STATE-OWNED 7.28 06/23/21 CNY 20.22
SHENMU CITY STATE-OWNED 7.28 06/23/21 CNY 20.60
SHENYANG DADONG STATE-O 6.05 03/20/22 CNY 40.00
SHENYANG DADONG STATE-O 6.05 03/20/22 CNY 40.37
SHENYANG ECONOMIC AFFOR 7.17 04/29/22 CNY 38.00
SHENYANG ECONOMIC AFFOR 7.17 04/29/22 CNY 39.71
SHENYANG TIEXI STATE-OW 6.00 01/14/22 CNY 20.02
SHENYANG TIEXI STATE-OW 6.00 01/14/22 CNY 27.50
SHENZHEN METRO GROUP CO 5.40 03/25/23 CNY 45.38
SHENZHEN METRO GROUP CO 6.75 01/24/24 CNY 46.80
SHIJIAZHUANG HUTUO NEW 5.28 12/24/25 CNY 55.00
SHIJIAZHUANG HUTUO NEW 5.28 12/24/25 CNY 55.50
SHIJIAZHUANG STATE-OWNE 5.75 04/09/22 CNY 40.60
SHIJIAZHUANG STATE-OWNE 5.75 04/09/22 CNY 47.20
SHIJIAZHUANG URBAN CONS 6.55 03/09/21 CNY 40.24
SHISHI CITY CONSTRUCTIO 6.10 05/04/22 CNY 40.62
SHIYAN ECO DEVELOPMENT 3.98 08/05/23 CNY 59.11
SHIYAN ECO DEVELOPMENT 3.98 08/05/23 CNY 59.35
SHIYAN STATE-OWNED CAPI 6.58 08/20/21 CNY 20.00
SHIYAN STATE-OWNED CAPI 6.58 08/20/21 CNY 20.31
SHIYAN STATE-OWNED CAPI 4.88 01/11/26 CNY 69.72
SHIYAN STATE-OWNED CAPI 4.88 01/11/26 CNY 70.00
SHIZHU TUJIA HONGSHENG 7.00 11/13/24 CNY 64.00
SHUCHENG COUNTY URBAN C 5.50 04/29/23 CNY 60.67
SHUCHENG COUNTY URBAN C 5.50 04/29/23 CNY 60.68
SHUYANG JINGYUAN ASSET 7.39 04/14/21 CNY 20.00
SHUYANG JINGYUAN ASSET 7.39 04/14/21 CNY 20.12
SHUYANG JINGYUAN ASSET 5.49 09/11/22 CNY 40.20
SHUYANG JINGYUAN ASSET 5.49 09/11/22 CNY 46.00
SICHUAN COAL GASIFICATI 7.00 04/18/23 CNY 59.65
SICHUAN COAL GASIFICATI 7.00 12/14/23 CNY 61.23
SICHUAN COAL INDUSTRY G 7.70 01/09/18 CNY 45.00
SICHUAN LANGZHONG FAMOU 5.60 04/19/23 CNY 59.54
SICHUAN LANGZHONG FAMOU 5.60 04/19/23 CNY 59.81
SICHUAN LONGYANG TIANFU 5.45 05/27/23 CNY 59.74
SICHUAN LONGYANG TIANFU 5.45 05/27/23 CNY 60.48
SICHUAN NAXING INDUSTRI 7.17 09/11/21 CNY 19.98
SICHUAN NAXING INDUSTRI 7.17 09/11/21 CNY 20.00
SICHUAN NAXING INDUSTRI 6.80 08/18/22 CNY 51.24
SICHUAN NAXING INDUSTRI 6.80 08/18/22 CNY 51.24
SICHUAN NAXING INDUSTRI 4.68 03/31/23 CNY 58.94
SICHUAN NAXING INDUSTRI 4.68 03/31/23 CNY 60.15
SICHUAN TIANYIN INDUSTR 6.79 03/25/22 CNY 40.28
SICHUAN TIANYIN INDUSTR 6.79 03/25/22 CNY 48.00
SIHONG COUNTY HONG YUAN 6.15 03/16/22 CNY 40.30
SIHONG COUNTY HONG YUAN 6.15 03/16/22 CNY 40.35
SIHUI STATE OWNED ASSET 4.59 01/14/23 CNY 39.31
SIHUI STATE OWNED ASSET 4.59 01/14/23 CNY 39.92
SIYANG COUNTY MINKANG R 4.94 01/21/23 CNY 40.56
SIYANG COUNTY MINKANG R 4.94 01/21/23 CNY 59.52
SLENDER WEST LAKE TOURI 6.80 06/25/21 CNY 20.00
SLENDER WEST LAKE TOURI 6.80 06/25/21 CNY 20.29
SONGYUAN URBAN DEVELOPM 5.79 12/04/21 CNY 19.86
SONGYUAN URBAN DEVELOPM 5.79 12/04/21 CNY 20.78
SUINING CITY HEDONG DEV 8.36 04/17/21 CNY 20.14
SUINING CITY HEDONG DEV 8.36 04/17/21 CNY 27.82
SUINING COUNTY RUNQI IN 7.10 06/25/21 CNY 20.16
SUINING COUNTY RUNQI IN 7.10 06/25/21 CNY 20.25
SUINING COUNTY RUNQI IN 5.42 11/20/22 CNY 39.95
SUINING COUNTY RUNQI IN 5.42 11/20/22 CNY 40.00
SUINING FUYUAN INDUSTRY 6.39 03/17/22 CNY 39.78
SUINING FUYUAN INDUSTRY 6.39 03/17/22 CNY 44.18
SUINING FUYUAN INDUSTRY 5.34 12/02/23 CNY 57.32
SUINING FUYUAN INDUSTRY 5.34 12/02/23 CNY 59.15
SUINING KAIDA INVESTMEN 8.69 04/21/21 CNY 20.00
SUINING KAIDA INVESTMEN 8.69 04/21/21 CNY 20.18
SUINING KAIDA INVESTMEN 4.89 04/08/23 CNY 57.97
SUINING KAIDA INVESTMEN 4.89 04/08/23 CNY 58.02
SUINING ROUGANG INVESTM 5.65 01/24/24 CNY 58.93
SUIZHOU DEVELOPMENT INV 8.40 04/30/21 CNY 20.17
SUIZHOU DEVELOPMENT INV 8.40 04/30/21 CNY 20.71
SUIZHOU HIGH-TECH INDUS 4.47 03/25/23 CNY 59.07
SUIZHOU HIGH-TECH INDUS 4.47 03/25/23 CNY 59.08
SUIZHOU URBAN CONSTRUCT 7.18 09/02/21 CNY 20.30
SUIZHOU URBAN CONSTRUCT 7.18 09/02/21 CNY 21.20
SUIZHOU YULONG WATER SU 6.10 03/28/23 CNY 60.05
SUNING.COM CO LTD 5.00 03/13/23 CNY 65.00
SUZHOU CITY CONSTRUCTIO 3.89 03/24/23 CNY 60.05
SUZHOU CITY CONSTRUCTIO 3.89 03/24/23 CNY 60.05
SUZHOU CITY HENGCHENG C 4.40 03/01/23 CNY 60.70
SUZHOU CITY HENGCHENG C 4.40 03/01/23 CNY 61.34
SUZHOU FENHU INVESTMENT 7.49 02/28/21 CNY 20.00
SUZHOU FENHU INVESTMENT 7.49 02/28/21 CNY 20.05
SUZHOU NEW & HIGH-TECH 4.18 03/23/23 CNY 59.36
SUZHOU NEW & HIGH-TECH 4.18 03/23/23 CNY 59.76
SUZHOU SND GROUP CO LTD 6.20 07/22/21 CNY 20.25
SUZHOU SND GROUP CO LTD 6.20 07/22/21 CNY 20.45
SUZHOU WUJIANG DISTRICT 5.25 07/08/22 CNY 40.60
SUZHOU WUJIANG DISTRICT 5.25 07/08/22 CNY 40.72
SUZHOU XIANGCHENG URBAN 6.95 03/19/21 CNY 20.08
SUZHOU XIANGCHENG URBAN 6.95 03/19/21 CNY 22.60
TAIAN TAISHAN HOLDINGS 5.50 04/26/23 CNY 59.73
TAIAN TAISHAN HOLDINGS 5.50 04/26/23 CNY 60.16
TAICANG ASSETS MANAGEME 7.00 02/27/21 CNY 20.04
TAICANG ASSETS MANAGEME 7.00 02/27/21 CNY 20.07
TAICANG SCIENCE EDUCATI 5.54 08/28/22 CNY 40.55
TAICANG SCIENCE EDUCATI 5.54 08/28/22 CNY 44.65
TAIXING CITY HONGQIAO Y 5.03 10/29/22 CNY 39.53
TAIXING CITY HONGQIAO Y 5.03 10/29/22 CNY 43.87
TAIYUAN ECONOMIC TECHNO 7.43 04/24/21 CNY 20.00
TAIYUAN ECONOMIC TECHNO 7.43 04/24/21 CNY 20.12
TAIYUAN STATE-OWNED INV 7.20 03/19/21 CNY 20.11
TAIYUAN STATE-OWNED INV 7.20 03/19/21 CNY 26.50
TAIZHOU CITY CONSTRUCTI 6.92 10/16/23 CNY 47.27
TAIZHOU CITY CONSTRUCTI 6.92 10/16/23 CNY 47.55
TAIZHOU HAILING CITY DE 4.60 12/14/22 CNY 39.00
TAIZHOU HAILING CITY DE 4.60 12/14/22 CNY 40.02
TAIZHOU JIAOJIANG STATE 6.18 07/06/22 CNY 40.81
TAIZHOU JIAOJIANG STATE 6.18 07/06/22 CNY 44.00
TAIZHOU JINDONG URBAN C 5.10 06/02/23 CNY 59.48
TAIZHOU JINDONG URBAN C 5.10 06/02/23 CNY 59.98
TAIZHOU XINBINJIANG DEV 7.60 03/05/21 CNY 20.08
TAIZHOU XINBINJIANG DEV 7.60 03/05/21 CNY 21.00
TAIZHOU XINTAI GROUP CO 4.07 03/23/23 CNY 59.80
TAIZHOU XINTAI GROUP CO 4.07 03/23/23 CNY 59.88
TIANCHANG CITY CONSTRUC 4.99 12/05/23 CNY 55.31
TIANCHANG CITY CONSTRUC 4.99 12/05/23 CNY 59.12
TIANJIN BEICHEN DISTRIC 7.00 04/21/21 CNY 20.00
TIANJIN BEICHEN DISTRIC 7.00 04/21/21 CNY 27.15
TIANJIN BEICHEN TECHNOL 6.87 08/20/21 CNY 19.81
TIANJIN BEICHEN TECHNOL 6.87 08/20/21 CNY 27.00
TIANJIN BOHAI STATE-OWN 3.82 04/18/23 CNY 59.13
TIANJIN DONGFANG CAIXIN 5.19 01/29/22 CNY 39.59
TIANJIN DONGFANG CAIXIN 5.19 01/29/22 CNY 39.98
TIANJIN DONGLI CITY INF 4.28 12/02/22 CNY 39.96
TIANJIN ECONOMIC TECHNO 6.50 12/03/22 CNY 30.47
TIANJIN ECONOMIC TECHNO 6.50 12/03/22 CNY 31.30
TIANJIN GUANGCHENG INVE 7.45 07/24/21 CNY 19.98
TIANJIN GUANGCHENG INVE 7.45 07/24/21 CNY 29.00
TIANJIN GUANGCHENG INVE 6.97 02/22/23 CNY 44.24
TIANJIN GUANGCHENG INVE 5.40 04/20/23 CNY 58.04
TIANJIN GUANGCHENG INVE 5.40 04/20/23 CNY 58.59
TIANJIN HARBOR CONSTRUC 8.80 01/24/21 CNY 39.99
TIANJIN HARBOR CONSTRUC 8.00 04/01/21 CNY 40.05
TIANJIN HARBOR CONSTRUC 6.29 10/21/21 CNY 39.60
TIANJIN HUANCHENG URBAN 7.20 03/21/21 CNY 20.03
TIANJIN HUANCHENG URBAN 7.20 03/21/21 CNY 20.35
TIANJIN HUANCHENG URBAN 5.75 04/27/22 CNY 40.03
TIANJIN HUANCHENG URBAN 5.75 04/27/22 CNY 40.50
TIANJIN INFRASTRUCTURE 5.70 02/26/23 CNY 44.75
TIANJIN JINNAN CITY CON 6.50 06/03/21 CNY 19.93
TIANJIN LINGANG INVESTM 7.75 02/26/21 CNY 20.02
TIANJIN METRO GROUP CO 4.27 10/16/25 CNY 69.98
TIANJIN METRO GROUP CO 4.27 10/16/25 CNY 74.00
TIANJIN NINGHE DISTRICT 7.00 05/30/21 CNY 20.05
TIANJIN NINGHE DISTRICT 7.00 05/30/21 CNY 27.50
TIANJIN NINGHE INVESTME 5.50 04/22/23 CNY 59.31
TIANJIN NINGHE INVESTME 5.50 04/22/23 CNY 60.45
TIANJIN RAILWAY CONSTRU 5.58 04/13/25 CNY 71.98
TIANJIN RAILWAY CONSTRU 5.58 04/13/25 CNY 73.40
TIANJIN REAL ESTATE GRO 4.50 09/29/20 USD 73.75
TIANJIN REAL ESTATE TRU 8.59 03/13/21 CNY 19.50
TIANJIN WATER INVESTMEN 6.60 07/28/21 CNY 19.46
TIANJIN WATER INVESTMEN 6.60 07/28/21 CNY 21.80
TIANJIN WUQING ECONOMIC 6.65 09/12/21 CNY 19.53
TIANJIN WUQING ECONOMIC 6.65 09/12/21 CNY 19.97
TIANJIN WUQING STATE-OW 7.18 03/19/21 CNY 20.00
TIANJIN WUQING STATE-OW 7.18 03/19/21 CNY 20.07
TIANJIN WUQING STATE-OW 4.15 11/17/22 CNY 39.00
TIANJIN WUQING STATE-OW 4.15 11/17/22 CNY 40.03
TIANMEN CITY CONSTRUCTI 8.20 08/28/21 CNY 20.37
TIANMEN CITY CONSTRUCTI 8.20 08/28/21 CNY 25.16
TIANMEN CITY CONSTRUCTI 3.98 11/15/23 CNY 58.08
TIANMEN CITY CONSTRUCTI 3.98 11/15/23 CNY 58.29
TONGLING CONSTRUCTION I 4.12 03/14/23 CNY 59.67
TONGLING CONSTRUCTION I 4.12 03/14/23 CNY 60.00
TONGLU STATE-OWNED ASSE 8.09 04/18/21 CNY 20.17
TONGLU STATE-OWNED ASSE 8.09 04/18/21 CNY 20.98
TSINGHUA HOLDINGS CORP 4.10 08/24/21 CNY 66.77
TSINGHUA HOLDINGS CORP 3.15 10/25/21 CNY 48.64
TSINGHUA HOLDINGS CORP 4.95 08/08/22 CNY 36.40
TSINGHUA HOLDINGS CORP 5.30 03/26/23 CNY 42.00
TSINGHUA UNIGROUP CO LT 5.60 11/15/20 CNY 19.38
TSINGHUA UNIGROUP CO LT 6.20 03/16/21 CNY 19.38
TSINGHUA UNIGROUP CO LT 6.15 12/26/21 CNY 12.96
TSINGHUA UNIGROUP CO LT 4.94 03/25/22 CNY 16.55
TSINGHUA UNIGROUP CO LT 5.85 03/27/22 CNY 19.38
TSINGHUA UNIGROUP CO LT 6.00 08/14/22 CNY 19.38
TSINGHUA UNIGROUP CO LT 5.20 12/10/23 CNY 11.65
TSINGHUA UNIGROUP CO LT 5.11 01/25/24 CNY 13.00
TULUFAN DISTRICT STATE- 6.20 03/19/22 CNY 40.33
TUNGHSU GROUP CO LTD 6.55 03/13/22 CNY 45.00
ULANQAB CITY INVESTMENT 8.39 04/25/22 CNY 50.90
ULANQAB JINING DISTRICT 6.16 03/24/23 CNY 59.14
ULANQAB JINING DISTRICT 6.16 03/24/23 CNY 59.33
URUMQI ECO&TECH DEVELOP 6.40 04/13/22 CNY 40.00
URUMQI ECO&TECH DEVELOP 6.40 04/13/22 CNY 40.68
WAFANGDIAN COASTAL PROJ 3.98 02/01/23 CNY 58.40
WAFANGDIAN COASTAL PROJ 3.98 02/01/23 CNY 60.00
WANGCHENG ECONOMIC DEVE 6.57 01/22/22 CNY 20.42
WANGCHENG ECONOMIC DEVE 6.57 01/22/22 CNY 28.81
WANGCHENG ECONOMIC DEVE 3.75 07/13/23 CNY 59.67
WANGCHENG ECONOMIC DEVE 3.75 07/13/23 CNY 61.05
WEIFANG BINHAI INVESTME 6.16 04/16/21 CNY 25.07
WEIHAI LANCHUANG CONSTR 4.80 12/17/22 CNY 39.24
WEIHAI LANCHUANG CONSTR 4.80 12/17/22 CNY 39.39
WEIHAI URBAN CONSTRUCTI 3.33 03/02/23 CNY 58.40
WEIHAI URBAN CONSTRUCTI 3.33 03/02/23 CNY 59.58
WEIHAI WENDENG DISTRICT 3.64 10/26/23 CNY 58.51
WEIHAI WENDENG DISTRICT 3.64 10/26/23 CNY 58.72
WEIHAI WENDENG URBAN PR 4.80 05/26/23 CNY 59.18
WEIHAI WENDENG URBAN PR 4.80 05/26/23 CNY 59.36
WEINAN CITY INVESTMENT 6.09 03/11/22 CNY 40.00
WEINAN CITY INVESTMENT 6.09 03/11/22 CNY 40.33
WENDENG GOLDEN BEACH IN 3.97 03/21/23 CNY 58.87
WENDENG GOLDEN BEACH IN 3.97 03/21/23 CNY 59.39
WENSHAN URBAN CONSTRUCT 4.50 09/13/23 CNY 58.06
WENSHAN URBAN CONSTRUCT 4.50 09/13/23 CNY 58.76
WENZHOU CITY CONSTRUCTI 4.05 01/25/23 CNY 60.00
WENZHOU CITY CONSTRUCTI 4.05 01/25/23 CNY 60.21
WENZHOU CITY CONSTRUCTI 5.00 04/26/23 CNY 60.86
WENZHOU CITY CONSTRUCTI 5.00 04/26/23 CNY 60.97
WENZHOU GANGCHENG DEVEL 5.19 03/29/23 CNY 60.22
WENZHOU GANGCHENG DEVEL 5.19 03/29/23 CNY 60.22
WENZHOU HIGH-TECH INDUS 7.95 03/21/21 CNY 19.80
WENZHOU HIGH-TECH INDUS 7.95 03/21/21 CNY 20.12
WENZHOU HIGH-TECH INDUS 7.30 05/30/21 CNY 20.00
WENZHOU HIGH-TECH INDUS 7.30 05/30/21 CNY 20.16
WENZHOU LUCHENG CITY DE 5.58 11/03/21 CNY 20.22
WENZHOU OUHAI NEW CITY 3.98 10/26/23 CNY 59.31
WENZHOU OUHAI NEW CITY 3.98 10/26/23 CNY 59.51
WINTIME ENERGY CO LTD 7.00 07/05/18 CNY 43.63
WINTIME ENERGY CO LTD 7.30 08/06/18 CNY 43.63
WINTIME ENERGY CO LTD 7.00 08/25/18 CNY 43.63
WINTIME ENERGY CO LTD 6.78 10/23/18 CNY 43.63
WINTIME ENERGY CO LTD 7.00 12/15/18 CNY 43.63
WINTIME ENERGY CO LTD 7.00 03/19/19 CNY 43.63
WINTIME ENERGY CO LTD 7.00 04/26/19 CNY 43.63
WINTIME ENERGY CO LTD 7.70 11/15/20 CNY 43.63
WINTIME ENERGY CO LTD 7.50 11/16/20 CNY 43.63
WINTIME ENERGY CO LTD 7.50 12/06/20 CNY 43.63
WINTIME ENERGY CO LTD 7.90 12/22/20 CNY 43.63
WINTIME ENERGY CO LTD 7.90 03/29/21 CNY 43.63
WINTIME ENERGY CO LTD 7.50 04/04/21 CNY 43.63
WINTIME ENERGY CO LTD 4.75 07/07/22 CNY 43.63
WUHAI CITY CONSTRUCTION 8.19 04/21/21 CNY 5.42
WUHAI CITY CONSTRUCTION 8.19 04/21/21 CNY 20.12
WUHAN CHEDU CORP LTD 7.18 02/27/21 CNY 20.06
WUHAN CHEDU CORP LTD 7.18 02/27/21 CNY 20.96
WUHAN CITY HUANPI DISTR 6.43 09/17/21 CNY 20.28
WUHAN CITY HUANPI DISTR 6.43 09/17/21 CNY 23.02
WUHAN JIANGXIA URBAN CO 4.80 06/03/23 CNY 60.21
WUHAN JIANGXIA URBAN CO 4.80 06/03/23 CNY 60.27
WUHAN METRO GROUP CO LT 5.25 04/14/22 CNY 40.18
WUHAN METRO GROUP CO LT 5.25 04/14/22 CNY 40.58
WUHAN QIAOKOU STATE OWN 3.48 08/29/23 CNY 58.93
WUHAN QIAOKOU STATE OWN 3.48 08/29/23 CNY 59.44
WUHU COMMUNICATIONS INV 4.50 04/28/23 CNY 59.73
WUHU COMMUNICATIONS INV 4.50 04/28/23 CNY 59.74
WUHU COMMUNICATIONS INV 3.58 09/23/23 CNY 59.08
WUHU COMMUNICATIONS INV 3.58 09/23/23 CNY 59.12
WUHU COUNTY CONSTRUCTIO 6.60 12/08/21 CNY 20.20
WUHU COUNTY CONSTRUCTIO 6.60 12/08/21 CNY 26.35
WUHU JINGHU CONSTRUCTIO 4.37 07/20/23 CNY 59.48
WUHU JINGHU CONSTRUCTIO 4.37 07/20/23 CNY 59.67
WUHU JIUJIANG CONSTRUCT 8.49 04/14/21 CNY 20.00
WUHU JIUJIANG CONSTRUCT 8.49 04/14/21 CNY 20.19
WUHU JIUJIANG CONSTRUCT 3.96 03/21/23 CNY 57.60
WUHU JIUJIANG CONSTRUCT 3.96 03/21/23 CNY 59.70
WUHU XINMA INVESTMENT C 4.87 11/04/22 CNY 40.00
WUHU XINMA INVESTMENT C 4.87 11/04/22 CNY 40.58
WUHU YIJU INVESTMENT GR 6.45 08/11/21 CNY 20.30
WUHU YIJU INVESTMENT GR 6.45 08/11/21 CNY 20.33
WUWEI CITY ECONOMY DEVE 8.20 04/24/21 CNY 20.08
WUWEI CITY ECONOMY DEVE 8.20 04/24/21 CNY 20.10
WUXI HUIKAI ECONOMIC DE 4.16 04/08/23 CNY 59.83
WUXI HUIKAI ECONOMIC DE 4.16 04/08/23 CNY 59.86
WUXI HUNING METRO HUISH 4.38 06/08/21 CNY 40.05
WUXI HUNING METRO HUISH 4.38 06/08/21 CNY 40.45
WUXI TAIHU NEW CITY DEV 4.49 05/03/23 CNY 60.01
WUXI TAIHU NEW CITY DEV 4.49 05/03/23 CNY 60.50
WUXI TAIHU NEW CITY DEV 3.47 08/29/23 CNY 59.50
WUXI TAIHU NEW CITY DEV 3.47 08/29/23 CNY 59.77
WUXI XIDONG NEW TOWN CO 3.92 11/09/23 CNY 59.43
WUXI XIDONG NEW TOWN CO 3.92 11/09/23 CNY 59.55
WUYANG CONSTRUCTION GRO 7.80 09/11/20 CNY 32.48
XIAMEN TORCH GROUP CO L 7.49 04/21/21 CNY 20.14
XIAMEN TORCH GROUP CO L 7.49 04/21/21 CNY 24.88
XIAN FENGDONG DEVELOPME 4.67 01/08/23 CNY 39.62
XIAN FENGDONG DEVELOPME 4.67 01/08/23 CNY 39.65
XI'AN INTERNATIONAL HOR 6.20 10/21/21 CNY 20.10
XI'AN INTERNATIONAL HOR 6.20 10/21/21 CNY 21.46
XI'AN INTERNATIONAL INL 7.90 09/23/21 CNY 20.22
XI'AN INTERNATIONAL INL 7.90 09/23/21 CNY 22.28
XIANGSHUI GUANJIANG HOL 4.98 12/24/22 CNY 36.60
XIANGSHUI GUANJIANG HOL 4.98 12/24/22 CNY 39.22
XIANGTAN CITY CONSTRUCT 7.80 01/30/22 CNY 54.50
XIANGTAN CITY CONSTRUCT 7.60 04/02/22 CNY 44.70
XIANGTAN CITY'S CONSTRU 3.95 08/04/23 CNY 56.76
XIANGTAN CITY'S CONSTRU 3.95 08/04/23 CNY 58.02
XIANGTAN CITY'S CONSTRU 3.60 08/04/23 CNY 59.50
XIANGTAN HI-TECH GROUP 8.16 02/25/21 CNY 20.03
XIANGTAN HI-TECH GROUP 8.16 02/25/21 CNY 28.99
XIANGTAN JIUHUA ECONOMI 6.59 01/21/22 CNY 18.52
XIANGTAN JIUHUA ECONOMI 6.59 01/21/22 CNY 19.40
XIANGTAN JIUHUA ECONOMI 5.00 07/25/26 CNY 71.53
XIANGTAN LIANGXING SOCI 7.89 04/23/21 CNY 20.11
XIANGTAN WANLOU XINCHEN 6.90 01/14/22 CNY 15.49
XIANGTAN WANLOU XINCHEN 6.90 01/14/22 CNY 19.72
XIANGXIANG ECONOMIC DIS 5.28 09/09/23 CNY 57.03
XIANGXIANG ECONOMIC DIS 5.28 09/09/23 CNY 57.13
XIANGXIANG URBAN CONSTR 5.84 05/18/23 CNY 59.45
XIANGXIANG URBAN CONSTR 5.84 05/18/23 CNY 59.79
XIANGYANG CITY XIANGZHO 5.18 04/28/23 CNY 60.37
XIANGYANG CITY XIANGZHO 5.18 04/28/23 CNY 60.38
XIANGYANG HIGH TECH STA 7.00 05/29/21 CNY 20.12
XIANGYANG HIGH TECH STA 7.00 05/29/21 CNY 23.38
XIANGYANG STATE-OWNED C 4.62 01/25/23 CNY 39.69
XIANGYANG STATE-OWNED C 4.62 01/25/23 CNY 59.74
XIANNING HIGH-TECH INVE 6.29 02/10/22 CNY 40.44
XIANNING HIGH-TECH INVE 6.29 02/10/22 CNY 40.56
XIANTAO CITY CONSTRUCTI 8.15 02/24/21 CNY 20.00
XIANTAO CITY CONSTRUCTI 8.15 02/24/21 CNY 20.09
XIANTAO CITY CONSTRUCTI 4.59 04/18/23 CNY 59.73
XIANTAO CITY CONSTRUCTI 4.59 04/18/23 CNY 60.28
XIAOCHANG SHUNHE DEVELO 4.15 10/17/23 CNY 57.68
XIAOGAN GAOCHUANG INVES 7.43 06/23/21 CNY 20.06
XIAOGAN GAOCHUANG INVES 7.43 06/23/21 CNY 32.72
XIAOGAN GAOCHUANG INVES 6.87 09/22/21 CNY 20.11
XIAOGAN GAOCHUANG INVES 6.87 09/22/21 CNY 26.69
XIAOGAN URBAN CONSTRUCT 6.89 05/29/21 CNY 20.21
XIAOGAN URBAN CONSTRUCT 6.89 05/29/21 CNY 20.40
XIAOGAN URBAN CONSTRUCT 3.94 07/05/21 CNY 62.90
XIAOXIAN COUNTY DEVELOP 4.85 06/22/23 CNY 60.11
XIAOXIAN COUNTY DEVELOP 4.85 06/22/23 CNY 60.17
XINDONGGANG HOLDING GRO 5.53 04/27/23 CNY 59.38
XINDONGGANG HOLDING GRO 5.53 04/27/23 CNY 59.45
XINGAN COUNTY URBAN CON 5.48 08/03/23 CNY 57.85
XINGAN COUNTY URBAN CON 5.48 08/03/23 CNY 58.85
XINGAN LEAGUE URBAN DEV 6.18 12/21/22 CNY 27.97
XINGAN LEAGUE URBAN DEV 6.18 12/21/22 CNY 28.78
XINGHUA CITY ECONOMIC D 5.28 06/13/22 CNY 49.75
XINGHUA CITY ECONOMIC D 5.28 06/13/22 CNY 49.78
XINGYI XINHENG URBAN CO 5.40 12/16/22 CNY 38.40
XINGYI XINHENG URBAN CO 5.40 12/16/22 CNY 38.59
XINJIANG KAIDI INVESTME 7.80 04/22/21 CNY 20.07
XINJIANG KAIDI INVESTME 7.80 04/22/21 CNY 21.35
XINMI CAIYUAN CITY CONS 4.35 02/28/23 CNY 59.68
XINMI CAIYUAN CITY CONS 4.35 02/28/23 CNY 59.70
XINMIN CITY LUXIN MUNIC 6.41 07/29/21 CNY 13.72
XINMIN CITY LUXIN MUNIC 6.41 07/29/21 CNY 13.87
XINTAI CITY COORDINATIN 6.35 03/23/22 CNY 40.25
XINTAI CITY COORDINATIN 6.35 03/23/22 CNY 40.75
XINYANG HUAXIN INVESTME 7.55 04/15/21 CNY 20.15
XINYANG HUAXIN INVESTME 7.55 04/15/21 CNY 26.30
XINYI CITY INVESTMENT & 4.30 01/19/23 CNY 38.89
XINYI CITY INVESTMENT & 4.30 01/19/23 CNY 40.00
XINYI URBAN TRANSPORTAT 6.14 02/06/22 CNY 40.47
XINYI URBAN TRANSPORTAT 6.14 02/06/22 CNY 41.53
XINYU CHENGDONG CONSTRU 8.48 05/27/21 CNY 20.17
XINYU CITY SHANTYTOWN Z 6.50 11/13/22 CNY 71.53
XINYU CITY YUSHUI DISTR 7.70 06/24/22 CNY 40.62
XINYU CITY YUSHUI DISTR 7.70 06/24/22 CNY 41.39
XINZHENG NEW DISTRICT D 6.40 01/29/21 CNY 25.00
XINZHOU ASSET MANAGEMEN 7.90 02/21/21 CNY 20.08
XINZHOU ASSET MANAGEMEN 7.90 02/21/21 CNY 21.07
XIWANG GROUP CO LTD 7.80 12/03/22 CNY 49.94
XUANCHENG CITY ECONOMY 7.95 09/22/21 CNY 20.39
XUANCHENG CITY ECONOMY 7.95 09/22/21 CNY 26.00
XUANCHENG STATE-OWNED A 7.95 03/27/21 CNY 20.13
XUANCHENG STATE-OWNED A 7.95 03/27/21 CNY 26.00
XUANCHENG STATE-OWNED A 4.12 04/07/23 CNY 60.00
XUANCHENG STATE-OWNED A 4.12 04/07/23 CNY 60.03
XUZHOU BOCHANT DEVELOPM 5.69 07/28/21 CNY 32.31
XUZHOU CITY JIAWANG CON 4.00 03/23/23 CNY 59.69
XUZHOU CITY TONGSHAN DI 5.23 09/18/22 CNY 40.00
XUZHOU CITY TONGSHAN DI 5.23 09/18/22 CNY 40.44
XUZHOU ECONOMIC TECHNOL 7.35 04/21/21 CNY 20.20
XUZHOU ECONOMIC TECHNOL 7.35 04/21/21 CNY 20.30
XUZHOU HI-TECH INDUSTRI 7.86 04/22/21 CNY 20.21
XUZHOU HI-TECH INDUSTRI 7.86 04/22/21 CNY 31.50
XUZHOU HI-TECH INDUSTRI 3.78 11/11/23 CNY 58.66
XUZHOU HI-TECH INDUSTRI 3.78 11/11/23 CNY 59.21
XUZHOU TRANSPORTATION H 7.09 05/15/21 CNY 20.20
XUZHOU TRANSPORTATION H 7.09 05/15/21 CNY 20.24
XUZHOU XINSHENG INVESTM 5.13 08/12/22 CNY 40.61
XUZHOU XINSHENG INVESTM 5.13 08/12/22 CNY 44.46
YANCHENG DAFENG DISTRIC 8.70 01/24/21 CNY 20.01
YANCHENG DAFENG DISTRIC 8.70 01/24/21 CNY 20.97
YANCHENG HIGH-TECH ZONE 3.90 12/14/22 CNY 39.90
YANCHENG HIGH-TECH ZONE 3.90 12/14/22 CNY 39.95
YANCHENG ORIENTAL INVES 6.48 09/15/21 CNY 20.05
YANCHENG ORIENTAL INVES 6.48 09/15/21 CNY 20.13
YANCHENG SOUTH DISTRICT 6.70 07/30/21 CNY 20.33
YANCHENG SOUTH DISTRICT 6.70 07/30/21 CNY 20.40
YANCHENG YANDU DISTRICT 3.67 03/17/23 CNY 59.21
YANCHENG YANDU DISTRICT 3.67 03/17/23 CNY 59.71
YANGJIANG HENGCAI CITY 6.24 04/14/22 CNY 40.42
YANGJIANG HENGCAI CITY 6.24 04/14/22 CNY 41.20
YANGZHONG TRANSPORTATIO 4.95 04/07/23 CNY 59.30
YANGZHONG TRANSPORTATIO 4.98 04/07/23 CNY 60.05
YANGZHONG TRANSPORTATIO 4.95 04/07/23 CNY 60.06
YANGZHONG TRANSPORTATIO 4.98 04/07/23 CNY 60.28
YANGZHOU CHEMICAL INDUS 8.58 01/24/21 CNY 20.01
YANGZHOU CHEMICAL INDUS 8.58 01/24/21 CNY 26.00
YANGZHOU ECONOMIC & TEC 7.40 03/05/21 CNY 40.00
YANGZHOU ECONOMIC & TEC 7.40 03/05/21 CNY 40.18
YANGZHOU GUANGLING NEW 3.62 09/07/23 CNY 57.93
YANGZHOU GUANGLING NEW 3.62 09/07/23 CNY 58.93
YANGZHOU HANJIANG CONST 5.88 06/15/22 CNY 40.70
YANGZHOU HANJIANG CONST 5.88 06/15/22 CNY 46.63
YI CHENG CONSTRUCTION I 5.44 04/27/23 CNY 59.62
YI ZHENG CITY DEVELOPME 4.63 01/08/23 CNY 39.98
YI ZHENG CITY DEVELOPME 4.63 01/08/23 CNY 40.00
YICHANG HIGH-TECH INVES 4.80 12/15/22 CNY 40.00
YICHANG HIGH-TECH INVES 4.80 12/15/22 CNY 40.31
YICHANG HIGH-TECH INVES 3.74 07/21/23 CNY 58.99
YICHANG HIGH-TECH INVES 3.74 07/21/23 CNY 59.68
YICHUN URBAN CONSTRUCTI 7.09 05/15/21 CNY 20.20
YICHUN URBAN CONSTRUCTI 7.09 05/15/21 CNY 23.47
YICHUN VENTURE CAPITAL 6.70 03/23/22 CNY 40.51
YICHUN VENTURE CAPITAL 6.70 03/23/22 CNY 40.61
YIHUA ENTERPRISE GROUP 6.80 03/15/21 CNY 47.99
YIHUA ENTERPRISE GROUP 7.00 04/29/22 CNY 54.00
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 20.08
YILI KAZAKH AUTONOMOUS 7.68 02/28/21 CNY 20.20
YINCHUAN URBAN CONSTRUC 6.88 05/12/21 CNY 20.00
YINCHUAN URBAN CONSTRUC 6.88 05/12/21 CNY 20.15
YINGKOU COASTAL DEVELOP 6.45 01/26/22 CNY 39.95
YINGKOU COASTAL DEVELOP 6.45 01/26/22 CNY 40.29
YINGKOU ECO & TECH DEVE 5.20 08/05/23 CNY 58.90
YINGKOU ECO & TECH DEVE 5.20 08/05/23 CNY 59.35
YINGKOU LAOBIAN CITY CO 5.63 12/16/22 CNY 39.99
YINGKOU LAOBIAN CITY CO 4.98 03/11/23 CNY 58.38
YINGKOU LAOBIAN CITY CO 4.98 03/11/23 CNY 60.00
YINGTAN LONGGANG ASSET 6.75 07/31/22 CNY 40.80
YINGTAN LONGGANG ASSET 6.75 07/31/22 CNY 41.18
YINGTAN STATE-OWNED ASS 3.63 08/12/21 CNY 39.89
YINGTAN STATE-OWNED ASS 7.50 12/12/22 CNY 31.02
YINGTAN STATE-OWNED ASS 7.50 12/12/22 CNY 31.02
YINING CITY STATE OWNED 8.90 01/23/21 CNY 19.92
YINING CITY STATE OWNED 8.90 01/23/21 CNY 20.00
YINING CITY STATE OWNED 5.37 09/24/22 CNY 39.00
YINING CITY STATE OWNED 5.37 09/24/22 CNY 39.11
YIWU CITY CONSTRUCTION 4.31 12/07/22 CNY 39.95
YIWU CITY CONSTRUCTION 4.31 12/07/22 CNY 40.40
YIWU URBAN & RURAL NEW 4.25 11/24/21 CNY 24.96
YIXING CITY CONSTRUCTIO 6.16 03/30/22 CNY 40.00
YIXING CITY CONSTRUCTIO 6.16 03/30/22 CNY 40.69
YIXING TUOYE INDUSTRIAL 7.60 05/28/21 CNY 20.15
YIXING TUOYE INDUSTRIAL 7.60 05/28/21 CNY 23.50
YIYANG ADVANCED INDUSTR 7.00 03/30/22 CNY 40.06
YIYANG ADVANCED INDUSTR 7.00 03/30/22 CNY 48.00
YIYANG PROVINCE AREA IN 4.95 10/13/23 CNY 56.50
YIYANG PROVINCE AREA IN 4.95 10/13/23 CNY 57.79
YIYANG PROVINCE AREA IN 5.16 11/23/23 CNY 56.35
YIYANG PROVINCE AREA IN 5.16 11/23/23 CNY 57.47
YIZHANG XINGYI CONSTRUC 5.49 09/02/24 CNY 68.87
YIZHANG XINGYI CONSTRUC 5.49 09/02/24 CNY 69.34
YONGCHENG COAL & ELECTR 7.50 02/02/21 CNY 39.88
YONGJIA INVESTMENT GROU 6.50 11/12/21 CNY 20.00
YONGJIA INVESTMENT GROU 6.50 11/12/21 CNY 20.25
YONGXING YINDU CONSTRUC 5.60 03/24/23 CNY 59.38
YONGXING YINDU CONSTRUC 5.60 03/24/23 CNY 60.42
YONGZHOU ECONOMIC CONST 3.55 01/14/23 CNY 39.42
YONGZHOU ECONOMIC CONST 3.55 01/14/23 CNY 39.50
YUANAN COUNTY QIFENG CI 5.50 05/27/23 CNY 60.35
YUANAN COUNTY QIFENG CI 5.50 05/27/23 CNY 60.41
YUEYANG CITY DONGTING N 6.15 03/20/22 CNY 40.03
YUEYANG CITY DONGTING N 6.15 03/20/22 CNY 40.07
YUEYANG HUILIN INVESTME 5.50 11/03/21 CNY 19.76
YUEYANG HUILIN INVESTME 5.50 11/03/21 CNY 20.07
YUEYANG YUNXI CITY CONS 6.00 07/08/23 CNY 59.71
YUEYANG YUNXI CITY CONS 6.00 07/08/23 CNY 60.09
YUEYANG YUNXI CITY CONS 5.18 11/21/23 CNY 57.78
YUHUAN CITY COMMUNICATI 5.65 11/03/21 CNY 20.14
YUHUAN CITY COMMUNICATI 5.65 11/03/21 CNY 20.22
YUHUAN CITY COMMUNICATI 6.18 03/20/22 CNY 40.51
YUHUAN CITY COMMUNICATI 6.18 03/20/22 CNY 44.47
YUHUAN CITY CONSTRUCTIO 5.10 05/03/23 CNY 60.12
YUHUAN CITY CONSTRUCTIO 5.10 05/03/23 CNY 60.45
YUHUAN CITY CONSTRUCTIO 3.72 10/21/23 CNY 58.75
YUHUAN CITY CONSTRUCTIO 3.72 10/21/23 CNY 59.36
YUNCHENG SHUIHU CITY CO 4.54 11/21/23 CNY 57.60
YUNCHENG SHUIHU CITY CO 4.54 11/21/23 CNY 58.63
YUNNAN HEALTH & CULTURA 6.77 05/23/21 CNY 18.00
YUNNAN HEALTH & CULTURA 6.77 05/23/21 CNY 19.85
YUYAO CITY CONSTRUCTION 7.09 05/19/21 CNY 20.24
YUZHOU GENERAL INVESTME 4.68 01/19/23 CNY 39.54
YUZHOU GENERAL INVESTME 4.68 01/19/23 CNY 40.00
ZAOYANG CITY CONSTRUCTI 5.50 03/22/23 CNY 59.80
ZAOYANG CITY CONSTRUCTI 5.50 03/22/23 CNY 60.12
ZHANGJIAGANG JINCHENG I 6.88 04/28/21 CNY 20.20
ZHANGJIAGANG JINCHENG I 6.88 04/28/21 CNY 20.21
ZHANGJIAJIE ECONOMIC DE 7.80 04/17/21 CNY 20.07
ZHANGQIU STATE OWNED AS 3.69 08/09/23 CNY 59.30
ZHANGQIU STATE OWNED AS 3.69 08/09/23 CNY 59.34
ZHANGSHU STATE-OWNED AS 4.80 06/22/23 CNY 59.82
ZHANGSHU STATE-OWNED AS 4.80 06/22/23 CNY 62.67
ZHANGYE CITY INVESTMENT 6.92 09/22/21 CNY 20.23
ZHANGYE CITY INVESTMENT 6.92 09/22/21 CNY 20.90
ZHANGZHOU ECONOMIC DEVE 6.17 04/27/22 CNY 40.52
ZHANGZHOU JIULONGJIANG 6.48 06/20/21 CNY 20.14
ZHANGZHOU JIULONGJIANG 6.48 06/20/21 CNY 20.30
ZHAODONG DONGSHENG CONS 6.50 01/20/24 CNY 61.79
ZHAODONG DONGSHENG CONS 6.50 01/20/24 CNY 61.80
ZHAOQING GAOYAO DISTRIC 6.68 04/14/22 CNY 40.00
ZHAOQING GAOYAO DISTRIC 6.68 04/14/22 CNY 40.59
ZHAOQING HI-TECH ZONE C 3.97 08/26/23 CNY 59.02
ZHAOQING HI-TECH ZONE C 3.97 08/26/23 CNY 59.07
ZHEJIANG BINHAI NEW CIT 4.65 12/23/22 CNY 40.22
ZHEJIANG CHANGXING JING 7.99 03/03/21 CNY 20.07
ZHEJIANG CHANGXING JING 7.99 03/03/21 CNY 30.00
ZHEJIANG GUOXING INVEST 6.94 08/01/21 CNY 20.31
ZHEJIANG GUOXING INVEST 6.94 08/01/21 CNY 28.50
ZHEJIANG HANGZHOU QINGS 7.90 04/23/21 CNY 20.17
ZHEJIANG HANGZHOU QINGS 7.90 04/23/21 CNY 24.00
ZHEJIANG HUISHENG INVES 4.49 03/15/24 CNY 69.89
ZHEJIANG HUISHENG INVES 4.49 03/15/24 CNY 70.00
ZHEJIANG OUHAI CONSTRUC 6.45 04/23/22 CNY 40.64
ZHEJIANG OUHAI CONSTRUC 6.45 04/23/22 CNY 40.66
ZHEJIANG OUHAI CONSTRUC 4.83 01/21/23 CNY 39.89
ZHEJIANG OUHAI CONSTRUC 4.83 01/21/23 CNY 40.36
ZHEJIANG PROVINCE XINCH 5.88 10/30/21 CNY 20.24
ZHEJIANG PROVINCE XINCH 5.88 10/30/21 CNY 21.06
ZHEJIANG PROVINCE XINCH 6.95 12/31/21 CNY 20.49
ZHEJIANG PROVINCE XINCH 6.95 12/31/21 CNY 21.20
ZHEJIANG YATAI PHARMACE 0.50 04/02/25 CNY 70.01
ZHENGZHOU AIRPORT ECONO 4.27 07/20/26 CNY 69.41
ZHENGZHOU AIRPORT ECONO 4.27 07/20/26 CNY 69.42
ZHENGZHOU JINGKAI INVES 5.48 07/31/22 CNY 40.00
ZHENGZHOU JINGKAI INVES 5.48 07/31/22 CNY 40.55
ZHENGZHOU MOUZHONG DEVE 7.48 12/11/21 CNY 20.33
ZHENGZHOU MOUZHONG DEVE 7.48 12/11/21 CNY 26.20
ZHENGZHOU MOUZHONG DEVE 4.59 04/18/23 CNY 60.00
ZHENGZHOU MOUZHONG DEVE 4.59 04/18/23 CNY 60.02
ZHENJIANG DANTU DISTRIC 5.89 11/03/21 CNY 19.80
ZHENJIANG DANTU DISTRIC 5.89 11/03/21 CNY 20.02
ZHENJIANG NEW AREA URBA 8.35 02/26/21 CNY 20.02
ZHENJIANG NEW AREA URBA 5.31 07/14/23 CNY 58.97
ZHENJIANG NEW AREA URBA 5.31 07/14/23 CNY 60.78
ZHIJIANG STATE-OWNED AS 4.78 01/11/23 CNY 39.54
ZHIJIANG STATE-OWNED AS 4.78 01/11/23 CNY 40.00
ZHIJIANG STATE-OWNED AS 4.38 03/28/23 CNY 59.15
ZHIJIANG STATE-OWNED AS 4.38 03/28/23 CNY 64.70
ZHONGGUANCUN DEVELOPMEN 4.20 08/12/22 CNY 39.87
ZHONGGUANCUN DEVELOPMEN 4.20 08/12/22 CNY 40.29
ZHONGMINTOU LEASING HOL 7.55 09/21/21 CNY 49.49
ZHONGSHAN TRANSPORTATIO 5.25 11/26/21 CNY 20.00
ZHONGSHAN TRANSPORTATIO 5.25 11/26/21 CNY 20.20
ZHOUKOU INVESTMENT GROU 7.49 04/21/21 CNY 20.07
ZHOUSHAN DINGHAI CITY C 6.67 07/20/22 CNY 40.25
ZHOUSHAN DINGHAI STATE- 7.13 08/04/21 CNY 20.18
ZHOUSHAN DINGHAI STATE- 7.13 08/04/21 CNY 20.27
ZHOUSHAN ISLANDS NEW DI 6.98 10/22/22 CNY 40.80
ZHOUSHAN ISLANDS NEW DI 6.98 10/22/22 CNY 40.94
ZHOUSHAN PUTUO DISTRICT 7.18 06/20/22 CNY 41.09
ZHOUSHAN PUTUO DISTRICT 7.18 06/20/22 CNY 41.90
ZHUHAI HUIHUA INFRASTRU 4.70 06/27/23 CNY 59.96
ZHUHAI HUIHUA INFRASTRU 4.70 06/27/23 CNY 60.00
ZHUJI CITY EAST NEW TOW 3.89 08/26/23 CNY 59.54
ZHUJI CITY YUEDU INVEST 6.38 04/07/22 CNY 40.57
ZHUZHOU CITY CONSTRUCTI 8.36 11/10/21 CNY 23.75
ZHUZHOU GECKOR GROUP CO 6.95 08/11/21 CNY 20.17
ZHUZHOU GECKOR GROUP CO 6.95 08/11/21 CNY 20.86
ZHUZHOU GECKOR GROUP CO 6.38 04/17/22 CNY 40.00
ZHUZHOU GECKOR GROUP CO 6.38 04/17/22 CNY 40.41
ZHUZHOU GECKOR GROUP CO 3.78 09/28/23 CNY 58.59
ZHUZHOU GECKOR GROUP CO 3.78 09/28/23 CNY 58.67
ZHUZHOU HI-TECH AUTO EX 4.47 11/03/23 CNY 74.62
ZHUZHOU RECYCLING ECONO 4.38 03/24/23 CNY 57.52
ZHUZHOU RECYCLING ECONO 4.38 03/24/23 CNY 58.30
ZHUZHOU XIANGJIANG SCEN 5.39 11/25/22 CNY 39.30
ZHUZHOU XIANGJIANG SCEN 5.39 11/25/22 CNY 40.58
ZIBO BANYANG CITY URBAN 5.50 09/09/22 CNY 39.75
ZIBO BANYANG CITY URBAN 5.50 09/09/22 CNY 40.00
ZIYANG WATER INVESTMENT 3.97 03/17/23 CNY 57.70
ZIYANG WATER INVESTMENT 3.97 03/17/23 CNY 57.83
ZIZHONG COUNTY XINGZI I 5.97 01/18/23 CNY 39.64
ZIZHONG COUNTY XINGZI I 5.97 01/18/23 CNY 39.68
ZUNYI ECONOMIC DEVELOPM 4.87 01/22/23 CNY 38.01
ZUNYI ECONOMIC DEVELOPM 4.87 01/22/23 CNY 40.00
ZUNYI HONGHUAGANG CITY 5.05 06/27/23 CNY 57.89
ZUNYI HONGHUAGANG CITY 5.05 06/27/23 CNY 59.29
ZUNYI NEW DISTRICT DEVE 5.99 04/07/26 CNY 62.75
ZUNYI NEW DISTRICT DEVE 5.99 04/07/26 CNY 70.02
ZUNYI ROAD & BRIDGE CON 6.10 04/27/23 CNY 52.51
ZUNYI ROAD & BRIDGE CON 6.10 04/27/23 CNY 57.96
ZUNYI TRAFFIC TRAVEL IN 7.70 09/27/27 CNY 70.05
HONG KONG
---------
CAIYUN INTERNATIONAL IN 5.50 04/08/22 USD 63.74
DR PENG HOLDING HONGKON 7.55 12/01/21 USD 70.25
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 9.88
ACME MEDAK SOLAR ENERGY 0.01 08/29/46 INR 12.55
ACME RANGA REDDY SOLAR 0.01 08/31/46 INR 12.43
AMPSOLAR SOLUTION PVT L 0.01 10/27/37 INR 26.39
AMPSOLAR SOLUTION PVT L 0.01 11/03/37 INR 26.34
APG HABITAT PVT LTD 1.00 09/09/28 INR 62.37
APG INTELLI HOMES PVT L 1.25 02/04/35 INR 44.17
APG INTELLI HOMES PVT L 1.25 02/04/35 INR 45.32
AUTOMOTIVE EXCHANGE PVT 4.00 06/01/30 INR 63.30
AUTOMOTIVE EXCHANGE PVT 4.00 10/11/30 INR 63.00
BREEZE CONSTRUCTIONS PV 0.01 06/29/30 INR 46.52
BRITANNIA INDUSTRIES LT 8.00 08/28/22 INR 31.26
CHANDRAJYOTI ESTATE DEV 0.01 07/06/30 INR 48.00
CREIXENT SPECIAL STEELS 0.01 08/28/25 INR 71.51
CUMULUS TRADING CO PVT 0.01 01/23/30 INR 64.12
CUMULUS TRADING CO PVT 0.01 05/21/32 INR 40.14
DEWAN HOUSING FINANCE C 8.50 04/18/23 INR 25.94
DLF ASPINWAL HOTELS PVT 0.01 10/15/30 INR 43.16
DLF EMPORIO RESTAURANTS 0.01 06/29/30 INR 47.87
DLF EMPORIO RESTAURANTS 0.01 08/12/30 INR 47.41
DLF HOME DEVELOPERS LTD 0.01 06/29/30 INR 49.99
DLF HOMES SERVICES PVT 0.01 06/29/30 INR 46.52
DLF REAL ESTATE BUILDER 0.01 06/23/30 INR 47.94
DLF RECREATIONAL FOUNDA 0.01 10/15/30 INR 45.24
DLF RESIDENTIAL BUILDER 0.01 06/23/30 INR 46.51
DLF RESIDENTIAL DEVELOP 0.01 06/28/30 INR 47.87
DLF SOUTHERN TOWNS PVT 0.01 07/09/30 INR 48.19
DOMUS REAL ESTATE PVT L 0.01 07/11/30 INR 48.09
EDELWEISS ASSET RECONST 2.00 03/28/27 INR 74.66
EDELWEISS ASSET RECONST 2.00 11/20/27 INR 72.32
EDELWEISS ASSET RECONST 2.00 10/07/28 INR 68.92
EDELWEISS ASSET RECONST 2.00 01/15/29 INR 67.89
EDELWEISS ASSET RECONST 2.00 03/28/29 INR 67.18
EDELWEISS ASSET RECONST 2.00 07/22/29 INR 66.07
ESSAR POWER TRANSMISSIO 3.00 03/31/43 INR 50.53
ESSAR POWER TRANSMISSIO 3.00 03/31/43 INR 50.53
GREEN URJA PVT LTD 0.01 02/14/30 INR 49.83
GTL INFRASTRUCTURE LTD 6.73 10/26/22 USD 6.69
HINDUSTAN CONSTRUCTION 0.01 01/05/27 INR 65.20
HITODI INFRASTRUCTURE L 0.01 06/30/27 INR 61.44
JAIPRAKASH ASSOCIATES L 5.75 09/08/17 USD 55.13
JAIPRAKASH POWER VENTUR 7.00 05/15/17 USD 4.59
JCT LTD 2.50 04/08/11 USD 25.75
JSM CORP PVT LTD 0.01 08/31/36 INR 28.49
JTPM ATSALI LTD 0.01 08/29/48 INR 11.72
KANAKADURGA FINANCE LTD 0.01 04/15/36 INR 27.27
KRIBHCO INFRASTRUCTURE 1.00 04/15/26 INR 73.51
MARIS POWER SUPPLY CO P 2.00 04/18/28 INR 70.00
MELOSA BUILDERS & DEVEL 0.01 06/29/30 INR 46.69
MENS BUILDCON PVT LTD 0.01 06/29/30 INR 46.69
MYTRAH AADHYA POWER PVT 0.01 07/05/35 INR 31.98
MYTRAH ADVAITH POWER PV 0.01 07/13/36 INR 29.35
MYTRAH AKSHAYA ENERGY P 0.01 07/13/36 INR 29.35
NEEMUCH SOLAR POWER PVT 0.01 08/29/46 INR 12.55
ORIGAMI CELLULO PVT LTD 0.01 11/14/36 INR 28.09
PRAKASH INDUSTRIES LTD 5.25 04/30/15 USD 22.63
PUNJAB INFRASTRUCTURE D 0.40 10/15/26 INR 72.61
PUNJAB INFRASTRUCTURE D 0.40 10/15/27 INR 67.68
PUNJAB INFRASTRUCTURE D 0.40 10/15/28 INR 63.05
PUNJAB INFRASTRUCTURE D 0.40 10/15/29 INR 58.79
PUNJAB INFRASTRUCTURE D 0.40 10/15/30 INR 54.87
PUNJAB INFRASTRUCTURE D 0.40 10/15/31 INR 51.32
PUNJAB INFRASTRUCTURE D 0.40 10/15/32 INR 48.08
PUNJAB INFRASTRUCTURE D 0.40 10/15/33 INR 45.17
PURVANCHAL SOLAR POWER 0.01 08/29/46 INR 12.55
PYRAMID SAIMIRA THEATRE 1.75 07/04/12 USD 0.26
R L FINE CHEM PVT LTD 0.10 08/19/36 INR 28.97
REDKITE CAPITAL PVT LTD 2.50 01/15/28 INR 74.08
REDKITE CAPITAL PVT LTD 2.50 03/30/29 INR 69.54
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 8.61
REWANCHAL SOLAR POWER P 0.01 08/29/46 INR 12.55
SAKET HOLIDAYS RESORTS 0.01 06/29/30 INR 47.88
SHIVAJI MARG MAINTENANC 0.01 06/28/30 INR 46.43
SINTEX INDUSTRIES LTD 3.50 05/25/22 USD 23.63
SUNWORLD SOLAR POWER PV 0.01 08/31/46 INR 12.43
SURBHI INVESTMENTS & TR 2.50 10/21/28 INR 70.57
SUTARA ROADS & INFRA LT 0.01 08/31/30 INR 55.59
SUZLON ENERGY LTD 5.75 07/16/19 USD 23.48
SUZLON ENERGY LTD 5.75 07/16/19 USD 23.48
SVOGL OIL GAS & ENERGY 5.00 08/17/15 USD 0.61
TATA SMARTFOODZ LTD 0.01 07/15/25 INR 73.53
TATA SMARTFOODZ LTD 0.01 11/23/25 INR 71.29
TN URJA PVT LTD 0.10 02/22/36 INR 30.14
WATSUN INFRABUILD PVT L 4.00 10/16/37 INR 59.02
WS T&D LTD 0.10 03/24/29 INR 54.24
ZYDUS FOUNDATION 0.10 03/25/25 INR 74.90
INDONESIA
---------
ALAM SUTERA REALTY TBK 6.25 11/02/25 USD 72.26
DELTA MERLIN DUNIA TEKS 8.63 03/12/24 USD 4.38
DELTA MERLIN DUNIA TEKS 8.63 03/12/24 USD 5.40
MEDIKALOKA HERMINA TBK 8.00 09/08/23 IDR 58.35
MNC INVESTAMA TBK PT 9.00 05/11/21 USD 66.91
WAHANA OTTOMITRA MULTIA 9.15 05/29/21 IDR 70.75
JAPAN
-----
AVANSTRATE INC 0.15 10/29/32 JPY 9.75
HIS CO LTD 0.44 02/20/24 JPY 67.25
HIS CO LTD 0.58 02/19/27 JPY 50.68
MITSUI E&S HOLDINGS CO 0.70 09/15/23 JPY 70.52
TKJP CORP 1.02 12/15/17 JPY 0.50
TKJP CORP 0.85 03/06/19 JPY 2.02
TKJP CORP 0.58 03/26/21 JPY 2.02
UNIZO HOLDINGS CO LTD 0.51 05/26/21 JPY 71.25
UNIZO HOLDINGS CO LTD 0.43 11/29/21 JPY 59.91
UNIZO HOLDINGS CO LTD 0.52 05/27/22 JPY 45.37
UNIZO HOLDINGS CO LTD 0.75 11/28/22 JPY 39.76
UNIZO HOLDINGS CO LTD 0.85 05/26/23 JPY 35.50
UNIZO HOLDINGS CO LTD 0.80 11/29/23 JPY 30.50
UNIZO HOLDINGS CO LTD 0.89 05/29/24 JPY 28.50
UNIZO HOLDINGS CO LTD 1.10 11/28/24 JPY 26.96
UNIZO HOLDINGS CO LTD 0.99 11/27/26 JPY 22.50
UNIZO HOLDINGS CO LTD 1.20 05/28/27 JPY 20.50
UNIZO HOLDINGS CO LTD 1.50 11/26/27 JPY 19.90
MALAYSIA
--------
AEGEAN MARINE PETROLEUM 4.00 11/01/18 USD 24.50
AEGEAN MARINE PETROLEUM 4.25 12/15/21 USD 24.50
ASIAN PAC HOLDINGS BHD 3.00 05/25/22 MYR 0.65
BERJAYA CORP BHD 5.00 04/22/22 MYR 0.23
BERJAYA CORP BHD 2.00 05/29/26 MYR 0.10
ELK-DESA RESOURCES BHD 3.25 04/14/22 MYR 1.11
HIAP TECK VENTURE BHD 5.00 06/23/21 MYR 0.38
HUME CEMENT INDUSTRIES 5.00 05/29/24 MYR 1.33
MALAYAN FLOUR MILLS BHD 5.00 01/24/24 MYR 1.64
PENGURUSAN AIR SPV BHD 1.00 09/28/35 MYR 68.66
PENGURUSAN AIR SPV BHD 1.00 11/05/35 MYR 67.89
PMB TECHNOLOGY BHD 3.00 07/12/23 MYR 5.30
SENAI-DESARU EXPRESSWAY 1.35 06/30/31 MYR 73.58
VIZIONE HOLDINGS BHD 3.00 08/08/21 MYR 0.03
NEW ZEALAND
-----------
PRECINCT PROPERTIES NEW 4.80 09/27/21 NZD 1.18
SINGAPORE
---------
ASL MARINE HOLDINGS LTD 3.00 03/28/25 SGD 42.13
ASL MARINE HOLDINGS LTD 3.00 10/01/26 SGD 42.13
BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 1.01
BAKRIE TELECOM PTE LTD 11.50 05/07/15 USD 1.01
BAYAN TELECOMMUNICATION 15.00 07/15/06 USD 22.75
BLD INVESTMENTS PTE LTD 8.63 03/23/15 USD 4.88
BLUE OCEAN RESOURCES PT 8.00 12/31/21 USD 28.38
BLUE OCEAN RESOURCES PT 8.00 12/31/21 USD 28.38
BLUE OCEAN RESOURCES PT 8.00 12/31/21 USD 28.38
DAVOMAS INTERNATIONAL F 11.00 05/09/11 USD 0.80
DAVOMAS INTERNATIONAL F 11.00 05/09/11 USD 0.80
DAVOMAS INTERNATIONAL F 11.00 12/08/14 USD 0.80
DAVOMAS INTERNATIONAL F 11.00 12/08/14 USD 0.80
ENERCOAL RESOURCES PTE 9.25 08/05/14 USD 45.75
ETERNA CAPITAL PTE LTD 8.00 12/11/22 USD 44.61
EZRA HOLDINGS LTD 4.88 04/24/18 SGD 5.00
INDO INFRASTRUCTURE GRO 2.00 07/30/10 USD 1.00
INNOVATE CAPITAL PTE LT 6.00 12/11/24 USD 13.00
ITNL OFFSHORE PTE LTD 7.50 01/18/21 CNY 15.00
JGC VENTURES PTE LTD 10.75 08/30/21 USD 30.00
MICLYN EXPRESS OFFSHORE 8.75 11/25/18 USD 16.23
MODERNLAND OVERSEAS PTE 6.95 04/13/24 USD 29.85
MULHACEN PTE LTD 6.50 08/01/23 EUR 60.59
MULHACEN PTE LTD 6.50 08/01/23 EUR 60.78
NT RIG HOLDCO PTE LTD 7.50 12/20/21 USD 58.13
ORO NEGRO DRILLING PTE 7.50 01/24/19 USD 14.23
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 68.23
SOECHI CAPITAL PTE LTD 8.38 01/31/23 USD 69.76
SSMS PLANTATION HOLDING 7.75 01/23/23 USD 69.82
SWIBER CAPITAL PTE LTD 6.25 10/30/17 SGD 4.20
SWIBER CAPITAL PTE LTD 6.50 08/02/18 SGD 4.20
SWIBER HOLDINGS LTD 5.55 10/10/16 SGD 12.25
SWIBER HOLDINGS LTD 7.13 04/18/17 SGD 6.13
SWIBER HOLDINGS LTD 7.75 09/18/17 CNY 6.12
SOUTH KOREA
-----------
ECOMAISTER CO LTD 2.00 10/11/22 KRW 73.13
HEUNGKUK FIRE & MARINE 5.70 12/29/46 KRW 43.81
KIBO ABS SPECIALTY CO L 5.00 02/26/21 KRW 68.00
KIBO ABS SPECIALTY CO L 5.00 08/28/21 KRW 73.78
KIBO ABS SPECIALTY CO L 5.00 02/24/22 KRW 73.10
KIBO ABS SPECIALTY CO L 5.00 02/28/22 KRW 72.26
KIBO ABS SPECIALTY CO L 5.00 02/24/23 KRW 71.04
LOTTE CARD CO LTD 3.95 06/28/49 KRW 38.96
POSCO ENERGY CO LTD 5.21 08/29/43 KRW 61.61
SAMPYO CEMENT CO LTD 8.30 04/20/14 KRW 70.00
SAMPYO CEMENT CO LTD 7.50 07/20/14 KRW 70.00
SAMPYO CEMENT CO LTD 8.30 09/10/14 KRW 70.00
SAMPYO CEMENT CO LTD 8.10 04/12/15 KRW 70.00
SAMPYO CEMENT CO LTD 8.10 06/26/15 KRW 70.00
SINBO SECURITIZATION SP 5.00 03/21/21 KRW 67.67
SINBO SECURITIZATION SP 5.00 06/29/21 KRW 73.95
SINBO SECURITIZATION SP 5.00 07/26/21 KRW 64.87
SINBO SECURITIZATION SP 5.00 08/31/21 KRW 63.31
SINBO SECURITIZATION SP 5.00 12/27/21 KRW 72.92
SINBO SECURITIZATION SP 5.00 01/25/22 KRW 61.55
SINBO SECURITIZATION SP 5.00 01/26/22 KRW 62.84
SINBO SECURITIZATION SP 5.00 02/23/22 KRW 63.75
SINBO SECURITIZATION SP 5.00 02/28/22 KRW 72.25
SINBO SECURITIZATION SP 5.00 06/27/22 KRW 65.80
SINBO SECURITIZATION SP 5.00 06/29/22 KRW 74.61
SINBO SECURITIZATION SP 5.00 07/24/22 KRW 65.48
SINBO SECURITIZATION SP 5.00 07/26/22 KRW 66.71
SINBO SECURITIZATION SP 5.00 08/29/22 KRW 66.30
SINBO SECURITIZATION SP 5.00 08/31/22 KRW 66.34
SINBO SECURITIZATION SP 5.00 09/26/22 KRW 66.05
SINBO SECURITIZATION SP 5.00 09/28/22 KRW 74.71
SINBO SECURITIZATION SP 5.00 12/25/22 KRW 70.15
SINBO SECURITIZATION SP 5.00 01/25/23 KRW 65.78
SINBO SECURITIZATION SP 5.00 01/29/23 KRW 69.93
SINBO SECURITIZATION SP 5.00 02/28/23 KRW 72.70
SINBO SECURITIZATION SP 5.00 03/20/23 KRW 72.54
SINBO SECURITIZATION SP 5.00 06/27/23 KRW 67.91
SINBO SECURITIZATION SP 5.00 07/24/23 KRW 67.58
SINBO SECURITIZATION SP 5.00 08/29/23 KRW 68.45
SINBO SECURITIZATION SP 5.00 08/29/23 KRW 68.45
SINBO SECURITIZATION SP 5.00 09/26/23 KRW 68.18
SINBO SECURITIZATION SP 5.00 09/26/23 KRW 68.18
SINBO SECURITIZATION SP 5.00 09/26/23 KRW 68.18
SINBO SECURITIZATION SP 5.00 10/24/23 KRW 67.97
SINBO SECURITIZATION SP 5.00 10/24/23 KRW 67.97
SINBO SECURITIZATION SP 3.00 11/21/23 KRW 64.49
SINBO SECURITIZATION SP 5.00 11/21/23 KRW 68.85
SINBO SECURITIZATION SP 4.00 12/25/23 KRW 66.32
SINBO SECURITIZATION SP 4.00 12/25/23 KRW 66.32
SINBO SECURITIZATION SP 5.00 12/25/23 KRW 70.51
SINBO SECURITIZATION SP 3.00 01/29/24 KRW 66.35
SINBO SECURITIZATION SP 4.00 01/29/24 KRW 68.32
SINBO SECURITIZATION SP 4.00 01/29/24 KRW 68.32
SINBO SECURITIZATION SP 5.00 02/27/24 KRW 69.23
SINBO SECURITIZATION SP 4.00 04/15/24 KRW 66.57
SRI LANKA
---------
SRI LANKA DEVELOPMENT B 6.92 01/01/23 USD 73.67
SRI LANKA DEVELOPMENT B 4.28 01/22/23 USD 69.16
SRI LANKA DEVELOPMENT B 4.48 01/22/23 USD 69.45
SRI LANKA DEVELOPMENT B 5.94 01/22/23 USD 71.73
SRI LANKA DEVELOPMENT B 4.26 03/16/23 USD 67.75
SRI LANKA DEVELOPMENT B 6.62 03/16/23 USD 71.60
SRI LANKA DEVELOPMENT B 4.13 05/01/23 USD 66.44
SRI LANKA DEVELOPMENT B 4.17 05/01/23 USD 66.50
SRI LANKA DEVELOPMENT B 5.66 05/01/23 USD 69.09
SRI LANKA DEVELOPMENT B 6.69 05/01/23 USD 70.80
SRI LANKA DEVELOPMENT B 6.70 05/01/23 USD 70.82
SRI LANKA DEVELOPMENT B 6.71 05/01/23 USD 70.83
SRI LANKA DEVELOPMENT B 4.81 01/22/25 USD 59.18
SRI LANKA DEVELOPMENT B 5.98 01/22/25 USD 61.79
SRI LANKA DEVELOPMENT B 6.02 01/22/25 USD 61.89
SRI LANKA DEVELOPMENT B 6.05 01/22/25 USD 61.97
SRI LANKA DEVELOPMENT B 6.50 01/22/25 USD 63.11
SRI LANKA DEVELOPMENT B 6.75 01/22/25 USD 63.75
SRI LANKA DEVELOPMENT B 6.80 01/22/25 USD 63.88
SRI LANKA DEVELOPMENT B 6.82 01/22/25 USD 63.93
SRI LANKA DEVELOPMENT B 6.87 01/22/25 USD 64.05
SRI LANKA GOVERNMENT IN 5.88 07/25/22 USD 70.48
SRI LANKA GOVERNMENT IN 5.88 07/25/22 USD 70.60
SRI LANKA GOVERNMENT IN 5.75 04/18/23 USD 67.06
SRI LANKA GOVERNMENT IN 5.75 04/18/23 USD 67.07
SRI LANKA GOVERNMENT IN 6.85 03/14/24 USD 65.73
SRI LANKA GOVERNMENT IN 6.85 03/14/24 USD 65.90
SRI LANKA GOVERNMENT IN 6.35 06/28/24 USD 65.67
SRI LANKA GOVERNMENT IN 6.35 06/28/24 USD 65.72
SRI LANKA GOVERNMENT IN 6.13 06/03/25 USD 64.55
SRI LANKA GOVERNMENT IN 6.13 06/03/25 USD 64.61
SRI LANKA GOVERNMENT IN 6.85 11/03/25 USD 64.35
SRI LANKA GOVERNMENT IN 6.85 11/03/25 USD 64.44
SRI LANKA GOVERNMENT IN 6.83 07/18/26 USD 63.87
SRI LANKA GOVERNMENT IN 6.83 07/18/26 USD 63.90
SRI LANKA GOVERNMENT IN 6.20 05/11/27 USD 62.71
SRI LANKA GOVERNMENT IN 6.20 05/11/27 USD 62.82
SRI LANKA GOVERNMENT IN 6.75 04/18/28 USD 62.62
SRI LANKA GOVERNMENT IN 6.75 04/18/28 USD 62.72
SRI LANKA GOVERNMENT IN 7.85 03/14/29 USD 62.95
SRI LANKA GOVERNMENT IN 7.85 03/14/29 USD 62.96
SRI LANKA GOVERNMENT IN 7.55 03/28/30 USD 62.52
SRI LANKA GOVERNMENT IN 7.55 03/28/30 USD 62.71
SRILANKAN AIRLINES LTD 7.00 06/25/24 USD 56.82
THAILAND
--------
G STEEL PCL 3.00 10/04/15 USD 0.55
MDX PCL 4.75 09/17/03 USD 22.88
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter-Asia Pacific is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Marites O. Claro, Joy A. Agravante, Rousel Elaine T. Fernandez,
Julie Anne L. Toledo, Ivy B. Magdadaro and Peter A. Chapman,
Editors.
Copyright 2021. All rights reserved. ISSN: 1520-9482.
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*** End of Transmission ***