Treasury market Fengyun ｜ S & P reduced the four major asset management companies rating Guangfa Securities to issue secondary corporate bonds for approval

Zhongxin Jingwei, September 21 (Lei Zongrun) On September 21, the capital continued to converge, and Shibor went online. Overnight varieties are reported to 1.468%, 3.9bp reported at 1.726%in 7 days, 11.5bp reported at 1.8%in 14 days, and 2BP reported at 1.593%in 1 month. Judging from the news, what news is worthy of attention in the bond market? Jingwei Jun combed you one by one.

[Research Focus]

Central Bank: Carry out 26 billion yuan 7 days and 14 days of reverse repurchase operations

China Banking Regulatory Commission: Agree with Zhongwang Group Finance Co., Ltd. to enter the bankruptcy procedure according to law

Goldenke: Delay Payment of "21 Gold Real Estate SCP004" principal and interest

Ruyi Technology: Can't pay "18 Ruyi 01" back to the principal and interest on schedule

Guangfa Securities: The subsidized issuance of less than 10 billion yuan in corporate bonds

Poly Real Estate Group: It is planned to issue corporate bonds not over 5 billion yuan

【Macro Express】

Central Bank: Carry out 26 billion yuan 7 days and 14 days of reverse repurchase operations, and the bid interest rates are flat

On September 21, the central bank announced that in order to maintain the stable liquidity at the end of the quarter, the 7 -day period of 2 billion yuan and 19 billion yuan were launched on September 21, and the bid interest rate was 2.0. %, 2.15%. Wind data shows that the 2 billion yuan reverse repurchase and 40 billion national treasury cash fixed -term expiration on that day.

【Entreprise's news】

Goldenke: Delay Payment of "21 Gold Real Estate SCP004" principal and interest

On September 21, Jinke Real Estate Group Co., Ltd. announced that the company will allocate interest on "21 Jinke Real Estate SCP004" on December 19, 2022 at 6.80%. All principal 800 million yuan will be paid 270 days after the original redemption (ie June 16, 2023). During the principal period, the interest during the exhibition period is calculated according to the original ticket interest rate and the principal of the unpaid principal will be together at the expiration date after the exhibition period. Pay.

China Banking Regulatory Commission: Agree with Zhongwang Group Finance Co., Ltd. to enter the bankruptcy procedure according to law

On September 20, the China Banking and Insurance Regulatory Commission issued a approval of the bankruptcy of Zhongwang Group Finance Co., Ltd., and agreed to enter the bankruptcy procedure in accordance with the law.

Kangmei Pharmaceutical: Kangmei Industrial was ruled by the court to accept bankruptcy liquidation and designated managers

On September 20, Kangmei Pharmaceutical Co., Ltd. announced that the company received a notice that the company's shareholder Kangmei Industrial received the "2022) Guangdong 52 Civil Ruling of Jieyang Municipal People's Court, Guangdong Province, and ruled to accept it. Puning City Building Materials Inspection Center's application for bankruptcy liquidation of Kangmei Industry. At the same time, the Jieyang Intermediate People's Court made (2022) Guangdong 52 Break 13 "Decision Book", designated Beijing Jindu (Shenzhen) Law Firm as the manager of Kangmei Industrial Investment Holding Co., Ltd.

Lord underwriter: The issuer's bankruptcy and reorganization, "21 Yanggu Xiangguang SCP001" has not paid the principal and interest on schedule

On September 19, the main underwriter Hengfeng Bank announced that the "21 Yanggu Xiangguang SCP001" of Yanggu Xiangguang Copper Co., Ltd. did not pay the principal and interest on schedule. On May 10, the Yanggu County People's Court ruled that the judicial reorganization of Yanggu Xiangguang Copper Co., Ltd. is still among the bankruptcy reorganization procedures. It is still unable to repay that the principal and interest of the bond shall be repaid on schedule. The main underwriters actively dock the issuer and reorganized manager, understand the progress of the issuer's reorganization in a timely manner, supervise the issuer to do well in information disclosure, and safeguard the legitimate rights and interests of bond holders.

Ruyi Technology: Can't pay "18 Ruyi 01" back to the principal and interest on schedule

On September 19, Shandong Ruyi Technology Group Co., Ltd. announced that the company failed to pay the "18 Ruyi 01" in 2020 due to liquidity problems and interest in 2021. As the company's liquidity pressure has not yet been completely relieved, the principal and bonds that should be paid on September 19, 2022 should not be paid on schedule for interest payable in 2022.

【Rating changes】

Moody's: Low the family rating of Hongyang Real Estate Enterprise to "CAA2" and look forward to "negative"

On September 21, Moody's report said that the corporate family rating of Hongyang Real Estate Group Co., Ltd. was lowered from "CAA1" to "CAA2", looking forward to "negative", and lowered its high -level unsecured rating from "CAA2" "CAA3" Essence

Fitch: Because Zhengrong Real Estate stops participating in the rating, its "RD" long -term issuer breach of contract rating

On September 21, Fitch Report said that because Zhengrong Real Estate Group Co., Ltd. chose not to participate in the rating, Fitch could not obtain sufficient information that was sufficient to maintain rating, so Fitch canceled its "RD" long -term issuer's breach of contract rating, " C "Advanced Unsecured Rating and" RR5 "recovery rate rating.

S & P: Develop a long -term credit rating of the Great Wall assets to "BBB", and look forward to "stable"

On September 21, the S & P reported that the long-term issuer's credit rating of Great Wall Asset Management Co., Ltd. was lowered from "A-" to "BBB", looking forward to "stable", and confirmed that its short-term issuer's credit rating was " A-2 ". At the same time, S & P also reduced the long-term issuer's credit rating of the Great Wall Assets (International) Holdings Co., Ltd. from "BBB+" to "BBB", looking forward to "stable", and confirmed that its short-term issuer's credit rating was "A-2" Essence In addition, S & P removed all rating from the credit observation list. S & P: Develop a long-term distribution of China Huarong and Huarong International's credit rating to "BBB-", and look forward to "stable"

On September 21, the S & P reported that the long-term issuer's credit rating of China Huarong Asset Management Co., Ltd. and China Huarong International Holdings Co., Ltd. was lowered from "BBB" to "BBB-", looking forward to "stable", and and and and. The short-term issuer's credit rating of the two companies is lowered from "A-2" to "A-3". In addition, S & P also confirmed that the long -term issuer's credit rating of Huari Financial Leasing Co., Ltd. was "BB+", the rating outlook was "developed", and the credit rating of its short -term issuer was "B".

S & P: Decreased the long -term distribution of China Cinda and Cinda Hong Kong to "BBB+", and look forward to "stable"

On September 21, the S & P reported that the long-term issuer rating of China Cinda Asset Management Co., Ltd. and its core subsidiary China Cinda (Hong Kong) Holdings Co., Ltd. was lowered from "A-" to "BBB+". "Stable" and confirmed that the short-term issuer of the two companies was rated as "A-2".

S & P: Decreased credit rating for long -term issuers in Oriental Assets to "BBB", looking forward to "stable"

On September 21, the S & P reported that the long -term issuer's credit rating of China Oriental Asset Management Co., Ltd. and its subsidiaries China Oriental Asset Management (International) Holdings Co., Ltd. was lowered from "BBB+" to "BBB". Stable and confirmed that the short-term issuer's credit rating of the two companies was "A-2". In addition, S & P also reduced the long-term issuer's credit rating of Dongxing Securities Co., Ltd. from "BBB" to "BBB-", looking forward to "stable", and lowered its short-term issuer's credit rating from "A-2" to " A-3.

Moody's: Dowards the family rating rating of Yinchuan Tonglian Enterprise to "BA2", and the prospects are adjusted to "negative"

On September 20, Moody's report said that the corporate family rating of Yinchuan Tonglian Capital Investment and Operation Co., Ltd. was lowered from "BA1" to "BA2", and the outlook was adjusted from "stability" to "negative".

S & P: Confirm that Dongfeng Group shares "A" has long -term issuer credit rating, and the outlook is reduced to "negative"

On September 19, the S & P reported that the long -term issuer's credit rating of Dongfeng Motor Group Co., Ltd. was confirmed to be "A", and the outlook was lowered from "stability" to "negative", and confirmed Long -term distribution rating "A".

【New debt issuance】

Blue Sky Gas: It is planned to issue convertible bonds not over 870 million yuan

On September 21, the Blue Sky Gas issued a public issuance of convertible corporate bond plans. The total amount of funds raised this time (including issuance expenses) did not exceed 870 million yuan (inclusive). It is used in the village of the village of the natural gas pipeline network of Zhumadian; 83 million yuan for Changyuan City Natural Gas Utilization Project; 112 million yuan for the construction project of Xinzheng Lantian Gas Co., Ltd. Repair bank borrowing.

Guangfa Securities: The subsidized issuance of less than 10 billion yuan in corporate bonds

On September 21, Guangfa Securities issued an announcement saying that recently, the company received the China Securities Regulatory Commission's "Approval on Agree to Agree with Guangfa Securities Co., Ltd. to publicly issue sub -company bond registration to professional investors" Number), agree that the company's publicly issued publicly issued face value to the professional investor does not exceed 10 billion yuan in sub -company bonds for secondary corporate bonds. The batch is valid within 24 months from the date of registration, and the company can issue corporate bonds in installments within the validity period.

Jin Hong Gas: It is planned to issue convertible bonds to raise funds not more than 1.016 billion yuan

On September 21, Jinhong Gas announced that it was planned to issue convertible bonds to raise funds of not more than 1.016 billion yuan. Projects, carbon capture comprehensive utilization projects, hydrogen storage facilities construction projects, and supplementary funds.

Poly Real Estate Group: It is planned to issue corporate bonds not over 5 billion yuan

On September 19, Poly Real Estate Group announced that on September 14, 2022, the China Securities Regulatory Commission approved the company's wholly -owned subsidiary Poly Real Estate Group Co., Ltd. ("Shanghai Baoli Real Estate") Relevant suggestions to apply for domestic corporate bonds with the face value of not exceeding RMB 5 billion in staging of qualified investors. According to the approval, Shanghai Poly Real Estate can issue corporate bonds within 24 months from the date of the China Securities Regulatory Commission's approval of corporate bond issuance.

Tianshan Co., Ltd.: It is planned to disclose corporate bonds of no more than 2 billion yuan

On September 19, Tianshan Co., Ltd. issued an announcement of the issuance of corporate bonds (the first phase) to professional investors (the first phase) of Xinjiang Tianshan Cement Co., Ltd. in Xinjiang Tianshan Cement Co., Ltd.The bond is 3 years, and the inquiry range of the ticket interest rate is 2.30%-3.30%; the two-year bonds are 5 years, and the inquiry range of the ticket interest rate is 2.60%-3.60%.(Zhongxin Jingwei APP) (The point of view in the article is for reference only, does not constitute investment suggestions, investment is risky, and you need to be cautious when entering the market.)

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Editor in charge: Li Zhongyuan

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