Zhongxin Jingwei, December 31 (Gao Boning) Wind data show that as of December 31, the total stock of the bond market was 130.40 trillion yuan, an increase of 16.14 trillion yuan from the beginning of the year; the stock of interest rate bonds was 73.79 trillion yuan, an increase of 9.30 trillion yuan from the beginning of the year; the stock of credit bonds was 42.71 trillion yuan, an increase of 4.05 trillion yuan from the beginning of the year; and the stock of interbank certificates of deposit was 13.90 trillion yuan, an increase of 2.79 trillion yuan from the beginning of the year. As of December 31, a total of 144 bonds in 2021 were in material default, with a balance of 152.693 billion yuan.
On the 31st, Shibor short-end varieties rose and fell. Overnight Shibor was trading at 2.1290%, up 85.30 basis points; 7-day Shibor was 2.2710%, down 5.00 basis points; 14-day Shibor was 2.9880%, down 12.50 basis points; and January Shibor was 2.4310%, up 0.10 basis points. Judging from the news, what announcements and news in the bond market are worth paying attention to? JingweiJun combs through for you one by one.
Announcements at a glance
National Development and Reform Commission: Conduct a comprehensive and systematic investigation of risks such as principal and interest redemption of corporate bonds in 2022
Interbank Dealers Association: Self-discipline measures were imposed on 6 issuers
Evergrande Wealth: Released the redemption plan for investment products
Shimao shares: The amount of open market bonds maturing in the first quarter of 2022 is about 3.35 billion yuan
Guangdong Yuecai Investment Holdings: The company plans a major asset restructuring
Bright Food: Xu Ziying was appointed as the president of the company
Sunshine City: The shares held by the controlling shareholder were judicially frozen
Hongkun Weiye: "19 Hongkun 01" credit enhancement measures have changed
Loncin Holdings: Has signed a restructuring investment framework agreement
Blu-ray Development: The cumulative default principal is 5.447 billion yuan
Goldwind: S&P revokes its long-term issuer credit rating
Shenzhen Logistics: United Credit lowered its credit rating
Lanzhou Construction Investment: New Century Rating adjusted its rating outlook to negative
Grammy: United Credit terminates its credit rating
News tracking
1. National Development and Reform Commission: Conduct a comprehensive and systematic investigation of risks such as principal and interest redemption of corporate bonds in 2022
On December 31, the National Development and Reform Commission issued a notice requiring a comprehensive and systematic investigation of risks such as principal and interest redemption of corporate bonds in 2022, consolidating the work results of the "five early" risk prevention and control mechanism; carrying out investigation and special inspection of the situation of issued corporate bonds, strengthening the supervision of bond duration; improving the ability of corporate bonds to serve the real economy, further increasing support for promoting the implementation of major national strategies, giving full play to special bonds for the construction of urban parking lots, special bonds for the construction of urban underground comprehensive pipe corridors, Special bonds such as special bonds for industries in the social field and special enterprise bonds for the construction of new urbanization in counties and towns support the role of expanding domestic demand; do a good job of project selection reserves, and actively organize qualified enterprises in the region to apply for the issuance of high-quality corporate bonds.
2. Interbank Dealers Association: Self-discipline measures were imposed on 6 issuers
On December 31, the Interbank Dealers Association announced that six issuers, including Baota Petrochemical, Furen Pharmaceutical, Tianfang Group, Tsinghua Unigroup, and Tsinghua Unigroup, failed to disclose regular financial information on time during the existence of debt financing instruments, and the relevant issuers had defaulted on debt financing instruments, which was a situation that should be dealt with heavily or heavily, and they were subject to self-discipline measures.
3. Evergrande Wealth: Released the redemption plan for investment products
On the afternoon of December 31, Evergrande Wealth released its investment product redemption plan on its official website.
According to the plan, in December 2021 and January and February 2022, the principal amount of 0.8 million yuan will be paid to each investor every month. The remaining principal of less than $24,000 will be redeemed with the remaining principal until the remaining principal is paid, and in March 2022 and thereafter, the Company will actively raise funds to further improve the follow-up redemption plan based on the implementation of Article 1 of the "Redemption Plan", which will be announced in late March 2022. The company will accelerate the disposal and realization of various assets through various channels such as transfer, auction, establishment of trust plans, litigation, etc., and all the funds obtained will be used for the redemption of investment products.
Related bonds: China Evergrande 12.0% N20240122
4. Shimao shares: The amount of open market bonds due in the first quarter of 2022 is about 3.35 billion yuan
On December 30, Shimao co., Ltd. received the Regulatory Inquiry Letter issued by the Shanghai Stock Exchange. On the same day, Shimao replied that the company's production and operation activities were normal. Regarding the scale and timing of the three-month maturity bonds, the repayment funding arrangement of the bonds due in the most recent month, Shimao co., Ltd. replied that the amount of open market bonds due by the company in the first quarter of 2022 was about 3.35 billion yuan, of which the balance of corporate bonds 19 Shimao G1 was 1.9 billion yuan, which will mature on January 15, 2022, and the balance of the directional financing instrument 20 Hu Shimao PPN001 was 500 million yuan, which will mature on January 19, 2022. In order to ensure the maturity and payment of open market debts, Shimao Co., Ltd. adopts communication and revitalization of regulatory funds, disposal of project equity and assets, active recovery of various types of claims, sorting out saleable resources, and coordinating banks to issue mortgage loans.
On December 29, United Credit determined to maintain the long-term credit rating of Shimao shares as AAA, and the rating outlook was adjusted to negative.
Related bonds: 20 Hu Shimao MTN001, 19 Shimao G1
5. Guangdong Yuecai Investment Holdings: The company plans a major asset restructuring
On December 30, Guangdong Yuecai Investment Holdings Co., Ltd. announced that the company was planning a major asset restructuring. The Company intends to make a strategic investment in Guangdong Nanyue Bank Co., Ltd. after the approval of the regulatory authorities and become the controlling shareholder of Nanyue Bank. The proposed investment target, Nanyue Bank, has no affiliation with the Company.
Related bonds: 18 Guangdong Cai 01
6. Bright Food: Xu Ziying was appointed as the president of the company
On December 31, Bright Food (Group) Co., Ltd. announced that the company decided to change the members of the board of directors and the board of supervisors, and hired Xu Ziying as the president of the company, and the personnel change will not adversely affect the company's daily management, production and operation, solvency and the effectiveness of the resolutions of the board of directors and the board of supervisors.
Related Bonds: 19 Bright 01
7. Sunshine City: The shares held by the controlling shareholder are judicially frozen
On December 30, Dagong International Credit Appraisal Co., Ltd. was concerned that some shareholders of Sunshine City had reduced their shares and the shares held by the controlling shareholders had been judicially frozen. Dagong believes that there is some uncertainty about the impact of the above matters on the business activities and credit level of Sunshine City.
Earlier, Fujian Sunshine Group Co., Ltd. announced that the company received a notice from Huaxia Bank on December 28 that some of the shares in Sunshine City held by the company and its wholly-owned subsidiary, Oriental Xinlong, were judicially frozen.
Related bonds: 21 Sunshine City MTN001, 21 Fujian Sunshine SCP001
8. Hongkun Weiye: "19 Hongkun 01" credit enhancement measures have changed
On December 30, Beijing Hongkun Weiye Real Estate Development Co., Ltd. announced that the "19 Hongkun 01" credit enhancement measures have changed. The full unconditional and irrevocable joint and several liability guarantee guarantee is provided by Hongkun Group Co., Ltd. and the actual controller (Zhao Weihao).
Related bonds: 19 Hongkun 01
9. Loncin Holdings: Has signed a restructuring investment framework agreement
On December 30, Loncin Holdings Co., Ltd. announced that "16 Loncin MTN001" had previously defaulted, and as of the date of the announcement, with the authorization of 13 enterprises including Loncin Holdings, the pre-restructuring auxiliary institution had signed the "Reorganization Investment Agreement" with the reorganization investors. The reorganization investment agreement signed this time is only a framework agreement, and the specific reorganization plan is subject to the reorganization plan approved by the court's ruling.
According to the announcement issued on December 29, 570 million restricted shares of Chongqing Rural Commercial Bank held by Loncin Holdings Co., Ltd. were frozen in turn, accounting for 100% of the bank's shares held by Loncin Holdings Co., Ltd. and 5.02% of the bank's total share capital. On December 30, New Century Ratings issued an announcement that in response to the judicial freezing of the equity held by Loncin Holdings Co., Ltd. in listed companies, New Century Ratings will continue to pay attention to Loncin Holdings' liquidity risk mitigation measures and implementation effects, as well as changes in the company's future financing capabilities, and track the credit quality of Loncin Holdings and disclose relevant information in a timely manner.
Related Bonds: 16 Loncin MTN001
10. Blu-ray development: The cumulative default principal is 5.447 billion yuan
On December 31, Blu-ray Development issued an announcement on the follow-up progress of multiple corporate bond defaults. Up to now, Blu-ray Development has issued a total of 8 unpaid corporate bonds, with an existing principal of 5.554 billion yuan, including 6 public corporate bonds and 2 private corporate bonds. Except for the unsold part of "19 Blu-ray 02", the corporate bonds of Blu-ray Development have been defaulted, and the cumulative default principal amount is 5.447 billion yuan.
The announcement said that it will maintain good communication with bondholders in the follow-up and respond to the demands of bondholders. As of now, the relevant debt restructuring plan is still being formulated and there is no substantive progress.
Related bonds: 19 Blu-ray 02
11. Goldwind: S&P revokes its long-term issuer credit rating
On December 31, S&P reported that at the request of Xinjiang Goldwind Technology Co., Ltd., S&P revoked its "BB+" long-term issuer credit rating, and its outlook was "stable" before the rating was revoked.
Related bonds: 20 Goldwind MTN001
12. Shenzhen Logistics: United Credit lowers its credit rating
On December 30, United Credit decided to downgrade the credit rating of the main body of Shenzhen Shenzhen Logistics Group Co., Ltd. and "20 Shenzhen Industry 03" and "20 Shenzhen Industry 04" to BB, and the rating outlook was negative.
Related bonds: 20 Shenzhen 03, 20 Shenzhen 04
13. Lanzhou Construction Investment: New Century Rating adjusted its rating outlook to negative
On December 30, New Century Ratings issued an announcement that in view of the heavy rigid debt burden of Lanzhou Construction Investment (Holdings) Group Co., Ltd. and the slow progress of financing due to the original plan, New Century Rating decided to maintain the credit rating of Lanzhou Construction Investment Entity as AA+ and adjust its rating outlook to "negative".
Related bonds: 21 Lanzhou Construction Investment PPN001
14. Grammy: United Credit terminates its credit rating
On December 30, United Credit announced that the credit rating of the main body and related debts of Grimme Co., Ltd. was terminated. As of December 27, 2021, the "16 Green Green Bond/16 Green G1" has been redeemed in advance and no longer exists. (Zhongxin Jingwei APP)
(The views in this article are for reference only and do not constitute investment advice, investment is risky, and you need to be cautious when entering the market.) )
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