Treasury market Fengyun ｜ The central bank's reverse repurchase continues to increase the stability at the end of the Ningde era.

Zhongxin Jingwei, September 28 (Lei Zongrun) On the 28th, most of the short -term Shibor varieties went up. Overnight varieties were reported to 1.27%, and 5bp reported at 1.7470%in 7 days. 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: Maintenance at the end of the quarter is stable, carry out 133 billion yuan 7 -day reverse repurchase operation

Shimao Co., Ltd.: "20 Shimao G3" will be paid for the first time on September 30th.

Zhengrong Real Estate Holdings: Receiving the 2021 annual report extension disclosure police letter

Rongxin Investment: It will work hard to raise funds for "20 Rongxin 01" and "20 Rongxin 03" for the width period

Fitch: Rejuvenation of Ligao Group Related Rating

Ningde Times: It is planned to be registered and issued not over 10 billion yuan in medium -term bills

【Macro Express】

Central Bank: Maintenance at the end of the quarter is stable, carry out 133 billion yuan 7 -day reverse repurchase operation

On September 28, the central bank announced that in order to maintain the stable liquidity at the end of the quarter, September 28 launched a 7 -day period of 7 days and 67 billion yuan for a 14 -day reflection operation by interest rate bidding. %, 2.15%. Wind data shows that the 2 billion yuan reverse repurchase expired on the day, so it invested 198 billion yuan in a single day. In the last week of the third quarter, the central bank's inverse repurchase operations increased significantly, and on September 26th and 27th, the single -day net investment was 133 billion yuan and 173 billion yuan.

【Entreprise's news】

Shimao Co., Ltd.: "20 Shimao G3" will be paid for the first time on September 30th.

On September 28, Shanghai Shimao Co., Ltd. announced that "20th Mao G3" will start paying some interest from September 1, 2021 to August 31, 2022. One -sixth of the interest of this bond payment is 0.665 yuan (including tax).

Lord underwriter: "14 CITIC Guoan MTN002" and other bonds such as defaults to follow -up progress

On September 28, the main underwriter China Agricultural Bank of China announced that CITIC Guoan Group Co., Ltd. "14 CITIC Guoan MTN002", "15 CITIC Guoan MTN004" and "16 CITIC Guoan MTN001" had had a substantial breach of contract. The subsequent main underwriters will maintain the issuer's access to the bankruptcy reorganization procedure with the communication and coordination of the manager and holder, and report to the dealer association.

Shimao Co., Ltd.: "19 Shanghai Shimao MTN001" has an uncertainty in paying the principal and interest

On September 27, Shanghai Shimao Co., Ltd. announced that "19 Shanghai Shimao MTN001" should pay the principal and interest on October 21, 2022 (the interest rate period is October 21, 2021 to October 21, 2022 To. Affected by the macroeconomic environment, the regulation of the real estate industry policy, and the overlapping of multi -round and overseas epidemic conditions at home and abroad, the company currently faces the issue of staged cash flow matching, and there is an uncertainty in the current bond redemption principal and interest.

Rongxin Investment: It will work hard to raise funds for "20 Rongxin 01" and "20 Rongxin 03" for the width period

On September 26, Rongxin (Fujian) Investment Group Co., Ltd. announced that although the company has done its best to reduce the impact of various unfavorable factors on business, and actively raise funds during this period, go all out to ensure the payment of the company's bonds for the existence of company bonds. Interest and redemption. However, as of the date of this report, the company is still raising funds to pay for interest payable this month. In view of the "20 -merger 01" and "20 Rongxin 03" holder meeting, the "Proposal on Increasing the Wide Wide Limitation of 30 days" will be considered. Strive to raise funds and strive to steadily promote the principal and interest payment of bonds in accordance with the conventions of the bond holder meeting.

Zhengrong Real Estate Holdings: Receiving the 2021 annual report extension disclosure police letter

On September 26, Zhengrong Real Estate Holdings Co., Ltd. announced that the company received the administrative supervision measures of the Shanghai Supervision Bureau of the China Securities Regulatory Commission on September 23, 2022, " Decisions of the warning letter, due to the postponed disclosure of the 2021 annual report.

【Rating changes】

Fitch: Rejuvenation of Ligao Group Related Rating

On September 28, Fitch reported that the long-term foreign currency issuer's default rating and high-level unsecured rating of Ligan High Real Estate Group Co., Ltd. will be reduced from "CCC-" to "CC", and the recovery rate rating maintains "RR4". Subsequently, because Ligao Group chose to stop participating in the rating, Fitch no longer had enough information to maintain rating, so Fitch decided to revoke all the above rating.

S & P: Declined Red Star Macalline's long-term issuer's credit rating to "B-", looking forward to maintain "negative"

On September 27, the S & P reported that the long-term issuer's credit rating of Hongxing Macalline Home Co., Ltd. was lowered from "B+" to "B-", and the outlook to maintain "negative".

Moody's: For business reasons, the "BA3" corporate family rating of Lion Bridge Capital

On September 27, Moody's report said that for its own business reasons, Moody's withdrawal from the "BA3" corporate family rating and "B1" domestic and foreign currency issuer rating of Shiqiao Capital Co., Ltd. Essence Fitch: Confirm that Jinhui shares "B+" has a long -term issuer's breach of contract rating, and the outlook is lowered to "negative"

On September 27, the Fitch report said that the long -term issuer of Jinhui Group Co., Ltd. was rated as "B+", and the outlook was lowered from "stability" to "negative" and confirmed that its high -level unsecured rating was "B+", and its high -level unsecured rating was "B+". The recovery rate rating is "RR4".

Moody: Confirm that Shanghai Pudong Development Bank has a long -term issuer's credit rating "BBB"

On September 26, the S & P reported that the long-term issuer's credit rating of Shanghai Pudong Development Bank Co., Ltd. was confirmed as "BBB", looking forward to maintaining "stability", and confirming that its short-term issuer's credit rating was "A-2".

【New debt issuance】

Ningde Times: It is planned to be registered and issued not over 10 billion yuan in medium -term bills

On September 28, the Ningde Times announced that in order to ensure the company's future production and operation and business development capital demand, broaden the company's financing channels, optimize the financial structure, and reduce financing costs. According to the relevant laws and regulations, the company intends to go to interbank bonds across the country. The market registration and distribution of no more than RMB 10 billion (including 10 billion yuan) medium -term bills.

Shinto Technology: It is planned to issue convertible bonds to raise funds not more than 577 million yuan

On the evening of September 28, Shinto Technology announced that it was planned to issue convertible bonds for not more than 577 million yuan for the construction project of optical lens production bases.

Hongwei Technology: It is planned to issue a convertible bond of no more than 450 million yuan

On September 27, Hongwei Technology disclosed to unspecularly issued convertible corporate bond plans to unspecified objects. The company issued the total amount of corporate bonds to the unspecified company this time. The net fundraising funds will be used for the production and development project of car -level power semiconductor separate devices (Phase 1).

Central Plains Securities: Approved issuance of less than 4 billion yuan in corporate bonds

On September 26, Central Plains Securities announced that recently, the company received the China Securities Regulatory Commission's "Approval of the Registration of Secondary Corporate Bonds for Professional Investors" (CSRC License [2022] No. 2213). The China Securities Regulatory Commission agrees that the company's publicly issued face value to professional investors does not exceed 4 billion yuan of sub -company bond registration applications; the batch is valid within 24 months from the date of registration, and the company can issue secondary issuance within the validity period of the registration period. Corporate bonds. (Zhongxin Jingwei APP)

(The views in the article are for reference only, do not constitute investment suggestions, have risks in investment, and need to be cautious to enter the market.)

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Editor in charge: Li Zhongyuan

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