Zhongxin Longitude and Latitude, January 7 (Gao Boning) On the 7th, most of the Short-ended varieties of Shibor rose. Overnight varieties rose 12.5bp at 1.839%, 7-day upside at 6.1bp at 2.103%, 14-day downside at 2.9bp at 1.966%, and 1-month upside at 0.1bp at 2.43%. 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
Shimao Construction: The news of the material default of its 645 million yuan debt is untrue
R&F Properties: Proceeds from the sale of certain assets may not be eligible for redemption on the settlement date
Huawei Investment Holdings: Proposed to issue 4 billion yuan of medium-term notes
Yuzhou Group: United International downgraded its international long-term issuer rating to B
Industrial assets: the cumulative amount of new borrowings in the previous year was 2.193 billion yuan
Shandong Ruyi: Listed as a judgment defaulter
LONGi shares: announced the results of the lottery for convertible bonds, with more than 2.65 million numbers winning
Sunshine City: Zhu Rongbin, executive chairman and president of the company, resigned for personal reasons
GAC Group: GAC Bond Swap will stop trading on January 10
Shanghai Electric Power: 2021 performance pre-loss of 1.785 billion yuan to 1.985 billion yuan
News tracking
1. Shimao Construction: The news of the substantial default of its 645 million yuan debt is untrue
On January 6, according to the announcement on the official website of China Chengxin Trust, the "2020 Zhongxin Trust Chengyi No. 11 Collective Fund Trust Plan" was issued by Shanghai Qianyi Building Materials and Foshan Demao Real Estate, a shareholding company of Shimao, in September 2020, with a scale of 645 million yuan. The announcement of China Chengxin Trust disclosed that as of December 25, 2021, as the common deficiency compensation obligors, Shanghai Qianyi and Foshan Demao should have paid a total of 910 million yuan of liquidation reserves to the trustees, but the actual payment was only 608 million yuan, and 302 million yuan had not yet been received.
On January 7, Shanghai Shimao Construction Co., Ltd. issued an announcement on the matter, saying that the previous online rumors of material defaults and other untrue contents, so far Shanghai Shimao Construction has not yet had a debt default in the open market, and the relevant matters of the aforementioned trust financing will not trigger the accelerated repayment of public market debts. On January 7, many Shimao bonds fell sharply.
Related bonds: 19 Shimao G3, 19 Shimao 01, 20 Shimao 06
2. R&F Real Estate: The proceeds from the sale of certain assets may not be cashed out on the settlement date
On January 5, Guangzhou R&F Real Estate Co., Ltd. announced that the tender offer and consent solicitation for US$460 million notes due January 13, 2022 by the company expired at 4:00 p.m. London time on January 4, 2022. As of the relevant tendering and voting deadlines, a total of 95.88% of the holders of the two offers were validly bids.
R&F Properties also announced that the proceeds from certain assets to be sold by the Company may not be cashed out on the settlement date. As a result, the actual amount of special funds that its wholly-owned offshore subsidiary, Yiluo, expects to be available to facilitate the repurchase and solicit consent may be lower than previously expected at approximately US$300 million.
Related bonds: 20 R&F Real Estate PPN001
3. Huawei Investment Holdings: Proposed to issue 4 billion yuan of medium-term notes
On January 5, Huawei Investment Holdings announced the application for the first medium-term note in 2022, with a note issuance scale of 4 billion yuan, a debt financing instrument term of 3 years, a subscription range of 2.7%-3.3%, and no basic underwriting.
According to the announcement, the notes issued this time will be used to supplement the working capital of the company's headquarters and subsidiaries, and promise not to use them for long-term investment, real estate investment, financial management and various types of equity investment.
4. Yuzhou Group: United International downgraded its international long-term issuer rating to B
On January 6, United International reported downgrading the international long-term issuer rating of Yuzhou Group Holdings Limited from "BB-" to "B" and the international long-term issuance debt rating of its senior unsecured DOLLAR notes from "BB-" to "B". In addition, United International will continue to place the company's rating on the Negative Rating Watch List.
On 6 January, Yuzhou Group announced that it would sell shares of its indirect wholly-owned subsidiary, Yuzhou Property Services Co., Ltd., for up to RMB1.06 billion (equivalent to the sale of the entire issued share capital of the Company) to China Resources Vientiane Life Co., Ltd.
According to Wind data, in January 2022, Yuzhou Group has two US dollar bonds due, one of which is $350 million and subject to principal and interest payment of $347 million, and the other is $500 million, subject to redemption of $242 million.
Related bonds: Yuzhou Group 9.95% N20230608
5. Industrial assets: the cumulative amount of new borrowings in the previous year was 2.193 billion yuan
On January 6, Industrial Asset Management Co., Ltd. announced that as of the end of December 2021, the company's cumulative new borrowing amount was 2.193 billion yuan, and the cumulative new borrowing accounted for 51.94% of the net assets at the end of the previous year.
Related bonds: 20 DSV 01
6. Shandong Ruyi: Listed as a judgment defaulter
On January 6, Northeast Securities issued a temporary entrusted management announcement saying that Shandong Ruyi Technology Group Co., Ltd. and related parties had been restricted from high consumption and listed as judgment defaulters.
Related bonds: 18 Ruyi 01
7. LONGi shares: announced the results of the lottery of convertible bonds, and more than 2.65 million numbers were won
On January 6, LONGi announced the results of the online lottery for the public issuance of convertible corporate bonds, with a total of 2,652,802 winning numbers, and each winning number could only subscribe for 1 lot (1,000 yuan) of Long 22 convertible bonds.
Related bonds: Long 22 convertible bonds
8. Sunshine City: Zhu Rongbin, executive chairman and president of the company, resigned due to personal reasons
On the evening of January 5, Sunshine City announced that Zhu Rongbin applied to the board of directors of the company for personal reasons to resign as executive chairman and president of the 10th board of directors of the company, and at the same time no longer served as a member of the strategy committee of the board of directors, and did not hold any other position in the company after resignation, and the resignation report took effect from the date of delivery to the board of directors of the company.
Related bonds: 21 Sunshine City MTN001
9. GAC Group: GAC Bond Swap will stop trading on January 10
On January 6, GAC Group announced that GAC's bond swap would mature on January 21. According to the regulations, GAC's bond-to-bond swap will stop trading on January 10, and after the cessation of trading and before the end of the equity conversion period, the holders of GAC's bond-to-bond swap can still convert GAC's bond-to-bond into shares of GAC Group in accordance with the agreed conditions.
Related bonds: GAC Convertible Bonds
10. Shanghai Electric Power: 2021 performance pre-loss of 1.785 billion yuan to 1.985 billion yuan
On January 7, Shanghai Electric Power announced that it expects a net loss of 1.785 billion yuan to 1.985 billion yuan in 2021. Net profit in the same period last year was 889 million yuan; the company's cumulative coal discounted coal unit price for the whole year was about 1097 yuan / ton (excluding tax), an increase of 67% year-on-year, increasing the company's annual fuel cost by about 5.3 billion yuan.
Related bonds: 21 Shanghai Power SCP021
(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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