Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

The Asia HY Trade Recommendations report for February includes a summary of our recommendations, as well as our high-conviction ideas. We also provide relative-value charts and lists of the bonds in the Lucror Asia HY index.

   The Asia HY Trade Recommendations report for February includes a summary of our recommendations, as well as our high-conviction ideas. We also provide relative-value charts and lists of the bonds in the Lucror Asia HY index. 

Asia HY Trade Recommendations - February 2019 - Lucror Analytics

In this month’s “In-Focus” section, we look at agency ratings for Asian issuers. The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the "In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market.

   In this month’s “In-Focus” section, we look at agency ratings for Asian issuers.    The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the "In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market. 

Asia HY Monthly - Agency Ratings For Asian Issuers - Lucror Analytics

The Asia HY Trade Recommendations report for January includes a summary of our recommendations, as well as our high-conviction ideas. We also provide relative-value charts and lists of the bonds in the Lucror Asia HY index.

   The Asia HY Trade Recommendations report for January includes a summary of our recommendations, as well as our high-conviction ideas. We also provide relative-value charts and lists of the bonds in the Lucror Asia HY index. 

Asia HY Trade Recommendations - January 2019 - Lucror Analytics

In this month’s “In-Focus” section, we discuss Corporate Governance in Chinese Companies. Specifically, we highlight: [1] the nascent development of the Chinese corporate governance regime; [2] the lack of strong external examination/review; [3] different types of Chinese public companies; and [4] Lucror’s approach to assessing corporate governance. The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the "In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market.

   In this month’s “In-Focus” section, we discuss Corporate Governance in Chinese Companies. Specifically, we highlight: [1] the nascent development of the Chinese corporate governance regime; [2] the lack of strong external examination/review; [3] different types of Chinese public companies; and [4] Lucror’s approach to assessing corporate governance.    The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the "In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market. 

Asia HY Monthly - Corporate Governance In Chinese Companies - Lucror Analytics

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Melco Resorts and Entertainment (Philippines) / Event-Driven

Melco Resorts and Entertainment (Philippines) (MRP PM)

Melco Resorts and Entertainment (Philippines)

MCO (Philippines) Investments Limited, an indirect wholly-owned subsidiary of <a href="https://www.smartkarma.com/entities/810" target="_blank" data-smartkarma-citation="entities:810:1">Melco Resorts &amp; Entertainment (MLCO US)</a>, <a href="http://www.melco-group.com/doc/english/eAnnouncement%20(Tender%20Offer%20Notice)_Draft%204.pdf" target="_blank">announced</a> a voluntary tender offer for up to 1,543,421,147 (27.23%) outstanding shares of <a href="https://www.smartkarma.com/entities/5293" target="_blank" data-smartkarma-citation="entities:5293:1">Melco Resorts and Entertainment (Philippines) (MRP PM)</a>, PHP7.25/share, a ~17% premium to the undisturbed price.
The Tender Offer will be made in connection with a proposed voluntary delisting of MRP’s shares from the PSE. MRP's board has approved the voluntary delisting and intends to file a petition for voluntary delisting on or about 17 September 2018. MRP intends to proceed with the request for voluntary delisting regardless of the level of acceptances under the Tender Offer.

MCO (Philippines) Investments Limited, an indirect wholly-owned subsidiary of Melco Resorts &amp; Entertainment (MLCO US), announced a voluntary tender offer for up to 1,543,421,147 (27.23%) outstanding shares of Melco Resorts and Entertainment (Philippines) (MRP PM), PHP7.25/share, a ~17% premium to the undisturbed price.
The Tender Offer will be made in connection with a proposed voluntary delisting of MRP’s shares from the PSE. MRP's board has approved the voluntary delisting and intends to file a petition for voluntary delisting on or about 17 September 2018. MRP intends to proceed with the request for voluntary delisting regardless of the level of acceptances under the Tender Offer.

Melco to Conduct Delisting Offer for Melco Philippines

Philippines

Energy Development Corporation (EDC) is a leading Philippine-based renewable energy company. It primarily focuses on the exploration, development, and operation of geothermal energy resources, and also operates wind, hydroelectric, and solar energy projects. The company is headquartered in Pasig City, Philippines, and was founded on March 5, 1976.

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Energy Development Corporation (EDC PM)

Asia HY Trade Recommendations - February 2019 - Lucror Analytics

The Asia HY Trade Recommendations report for February includes a summary of our recommendations, as well as our high-conviction ideas. We also...

Lucror Analytics

Asia HY Monthly - Agency Ratings For Asian Issuers - Lucror Analytics

In this month’s “In-Focus” section, we look at agency ratings for Asian issuers. The Asia Monthly focuses on providing updates on recent events,...

Lucror Analytics

Asia HY Trade Recommendations - January 2019 - Lucror Analytics

The Asia HY Trade Recommendations report for January includes a summary of our recommendations, as well as our high-conviction ideas. We also...

Lucror Analytics

Asia HY Monthly - Corporate Governance In Chinese Companies - Lucror Analytics

In this month’s “In-Focus” section, we discuss Corporate Governance in Chinese Companies. Specifically, we highlight: [1] the nascent development...

Lucror Analytics

Melco to Conduct Delisting Offer for Melco Philippines

MCO (Philippines) Investments Limited, an indirect wholly-owned subsidiary of Melco Resorts & Entertainment (MLCO US), announced a voluntary...

David Blennerhassett

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