New Bond Issue:

PEOPLE'S REPUBLIC OF CHINA - CNH
Issuer: The Ministry of Finance of the People's Republic of China

** 2Y
Initial Price Guidance: 2.250% Area

** 5Y
Initial Price Guidance: 2.450% Area

How Will RBI’s New Measures Impact Muthoot Finance? 🤔

The Reserve Bank of India (RBI) has stepped up its regulatory game for non-banking financial institutions (NBFCs), setting a new bar that affects companies like Manappuram Finance and IIFL Finance 🚀. So, what gives Muthoot Finance 🏦 a unique edge in this shifting landscape?

Get the full breakdown in our latest article: https://bit.ly/3UAXpPf

New Bond Issue:

GUOCOLAND LIMITED - SGD 3Y
Issuer: GLL IHT Pte. Ltd.
Guarantor: GuocoLand Limited
Initial Price Guidance: 3.50% Area

New Bond Issues:

1. ANZ - SGD 10NC5
Issuer: Australia and New Zealand Banking Group Limited
Initial Price Guidance: 4.10% Area

2. SINGAPORE MEDICAL GROUP - SGD 5Y
Issuer: Singapore Medical Group Limited
Guarantor: Credit Guarantee & Investment Facility
Initial Price Guidance: 3.80% Area

💡ANZ Banking Group announces new SGD Tier 2 10NC5 paper at the IPG of 4.10% 📈

Australia and New Zealand Banking Group Limited plans on issuing a new SGD Tier 2 10NC5 paper with an initial price guidance of 4.10%. Our analyst dives into the details of this issuance and what it means for investors 📊

Read more here: https://bit.ly/3Cj1D7I

New Bond Issues:

1. FOSUN INTERNATIONAL LTD - USD 3.5NC2
Issuer: Fortune Star (BVI) Limited
Guarantor: Fosun International Limited
Initial Price Guidance: 8.875% Area

2. CHINA EVERBRIGHT BANK HK BRANCH - USD 2Y
Issuer: China Everbright Bank Co., Ltd., Hong Kong
Initial Price Guidance: 3.00% Area

🇺🇸 All You (Bond Investors) Need to Know After a Trump Election and a Fed Cut Last Week 🏆

The US Presidential Elections and the latest Fed meeting made waves last week! With interest rates likely staying higher 📈 for longer, our analysts break down what this means for your portfolio 👀

Catch the full recap here: https://bit.ly/40LwRhV

New Bond Issues:

1. SP GROUP TREASURY PTE. LTD. - USD 5Y
Issuer: SP Group Treasury Pte. Ltd.
Guarantor: Singapore Power Limited
Initial Price Guidance: CT5+75 Area (Est.5.057%)

2. OUE REIT - SGD 7Y
Issuer: OUE REIT Treasury Pte. Ltd.
Guarantor: DBS Trustee Limited
Initial Price Guidance: 3.780% Area

💡Idea of the Week: 7%+ Yields from Mexico’s Leading Bank!

BBVA Mexico stands strong as the country’s number one bank 🏦, boasting a stable credit profile and a dominant market position. With yields exceeding 7%, its bonds present an attractive opportunity for investors seeking both stability and returns📈

Discover more here: https://bit.ly/3UQtd2x

New Bond Issues:

1. ALIBABA - CNH
Issuer: Alibaba Group Holding Limited

** 3.5Y
Initial Price Guidance: 2.90% Area

** 5Y
Initial Price Guidance: 3.10% Area

** 10Y
Initial Price Guidance: 3.40% Area

** 20Y
Initial Price Guidance: 3.80% Area

2. ALIBABA - USD
Issuer: Alibaba Group Holding Limited

** 5.5Y
Initial Price Guidance: T+90bps Area (Est. 5.175%)

** 10.5Y
Initial Price Guidance: T+115bps Area (Est. 5.564%)

** 30Y
Initial Price Guidance: T+130bps Area (Est. 5.910%)

3. HDB - SGD 7Y
Issuer: Housing and Development Board
Initial Price Guidance: 3.092% Area

💡Alibaba announces multiple new USD and CNH bonds at IPGs of up to 5.9%

Alibaba has just announced the issuance of new USD and CNH bonds, offering yields of up to 5.9% 👀. Our analysts break down the key details and what this means for bond investors.

Read the full article here: https://bit.ly/3Ze0EyT

New Bond Issue:

BARCLAYS PLC (BACR) - SGD PerpNC-March-2030
Issuer: Barclays PLC
Initial Price Guidance: 5.800% Area

💡Idea of the Week: Investment grade and >4% yields? It’s right here! 🏦

Commerzbank’s SGD Tier 2 subordinated bonds are still a great option, offering over 4% in returns and maintaining an investment-grade rating. ⚖️

Discover more here: https://bit.ly/4fDt4Ih

💡Idea of the Week

Just Group – Around 6% Yield Investment Grade GBP Bond

🟦 Just Group is a UK-based financial services group that provides pension solutions and management services.

🟦 The Group is listed on the London Stock Exchange (Stock Code: JUST.LN) and has a current market capitalization of around GBP 1.45 billion.

🔉Click link below to read article

http://bit.ly/3ZfLEiP

➡️ Bond in the spotlight

🔹 JUSTLN 8.125% 26Oct2029 Corp (GBP)

https://www.bondsupermart.com/bsm/bond-factsheet/XS2059770409

⭐A New Member of Bond Express⭐

⭐Start investing from GBP 5,000 nominal⭐

💎 Check out more on Bond Express Marketplace

https://www.bondsupermart.com/bsm/bond-express

🔉 Restructuring Update

Times China’s Offshore Debt Restructuring Plan

🔹 On 22nd November, Times China announced that it has entered into a restructuring support agreement with a group of offshore creditors and unveiled its formal offshore debt restructuring plan.

🔹 This plan requires the approval of 75% of the creditors to pass. As it is a court-led restructuring plan rather than an exchange offer, if the plan is approved, it will be binding on all bondholders.

🔹All new bonds under the restructuring plan will take effect on the restructuring effective date or by 30th June 2025 (with the company having the right to extend to 30th September 2025), whichever is earlier.

🔹 Creditors who agree to Times China's restructuring plan will receive an early consent fee or a general consent fee.

🔉Click link below to read full article

https://bit.ly/TimesChinasOffshoreDebtRestructuringPlan

🔉Update on Century Sunshine defaulted bonds

▶️ In this article, we provide an update on Century Sunshine’s defaulted bonds, and our thoughts on the recent rights issue of REMT

🔹 Background on Century Sunshine default

➡️ In 2020, Century Sunshine defaulted on its bonds, with management attributing the outbreak of COVID-19 as a main driver, hurting demand and production of its fertilisers.

➡️ Following that, a restructuring plan was proposed and approved.

➡️ These 2020 bonds have since been delisted on the SGX, and bondholders would receive a pro-rata share of the Scheme Consideration.

➡️ The Scheme Consideration would consist of a few parts, including the:

- Term Extension Interest;

- Interim Payment(s); and/or

- Term Extension Repayment(s); and/or

- Early Repayment(s); and

- the Final Payment.

Click the link below to read the full update

https://bit.ly/UpdateonCenturySunshinedefaultedbonds

🔉 Brief Commentary on Tan Chong Motor

Recently, Tan Chong Motor Holdings Berhad (TCMH) announced its 3QFY2024 results.

Click link below to read the full commentary

https://bit.ly/CommentaryonTanChongMotor

➡️ Related article

Cloudy outlook for Tan Chong Motors

https://bit.ly/CloudyoutlookforTanChongMotors

New Bond Issue:

1. ANZ – USD
Issuer: Australia and New Zealand Banking Group Limited of New York

** 2Y
Initial Price Guidance: T+50 bps area (Est. 4.596%)

** 5Y
Initial Price Guidance: T+75 bps area (Est. 4.773%)

💡LBS Bina Is Back! 🏢

Malaysia’s trusted real estate developer, LBS Bina, has announced a new bond offering 📈. Want to know more about their latest move and what sets them apart?

Dive into the full details here: https://bit.ly/3D69PZy

❗SingPost’s credit rating placed on negative watch

S&P Global Ratings has placed the long-term issuer credit rating on SingPost on negative watch. Here's what you should know 👀

Read full article here: https://bit.ly/3OJ3CFz