CreditDaily Briefs

Daily Brief Credit: Lucror Analytics – Morning Views Asia and more

In today’s briefing:

  • Lucror Analytics – Morning Views Asia
  • China Water Affairs – Event Flash – Proposed Issuance Of 5NC3 USD Notes – Lucror Analytics


Lucror Analytics – Morning Views Asia

By Leonard Law, CFA

  • In today’s Morning Views publication we comment on developments of the following high yield issuers: Genting Berhad, China Vanke
  • The US treasury market was closed yesterday for Columbus Day. Equities rebounded from Friday’s decline, after the US and China signalled willingness to continue trade talks. The S&P 500 rose 1.6% to 6,655, while the Nasdaq was up 2.2% at 22,695.
  • China’s September exports accelerated 8.3% y-o-y (6.6% e / 4.4% p) to USD 329 bn, the highest monthly total YTD.

China Water Affairs – Event Flash – Proposed Issuance Of 5NC3 USD Notes – Lucror Analytics

By Leonard Law, CFA

  • China Water Affairs (CWA) is roadshowing an issuance of senior unsecured Reg-S only 5NC3 USD notes.
  • The notes are being issued as blue bonds under the company’s green and blue finance framework.
  • Moody’s has provided a second-party opinion, and assigned a SQS2 (very good) sustainability quality score to the framework. 

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