In today’s briefing:
- Lucror Analytics – Morning Views Asia
- UPL Limited – ESG Report – Lucror Analytics
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: Shui On Land, Country Garden
- In the US, the UST curve bull flattened slightly in a shortened trading session. The yield on the 2Y UST fell 2 bps to 4.27%, while that on the 10Y UST was unchanged at 4.69%.
- The US equity market was closed yesterday, in observance of the national day of mourning for former president Jimmy Carter.
UPL Limited – ESG Report – Lucror Analytics
- Headquartered in Mumbai, UPL Limited is a global agrochemical company listed on the Indian stock exchange.
- It is the fifth-largest generic agrochemical company in the world (after Bayer, Dupont, Syngenta and BASF), with revenues of over USD 5.2 bn in FY 2023-24 (following the acquisition of Arysta LifeScience in 2019 for USD 4.2 bn).
- The bond issuer, UPL Corp, is 78% owned by UPL Limited, with TPG and the Abu Dhabi Investment Authority each holding 11% stakes. UPL Limited is 27.9% owned by the family of Rajnikant Shroff, who is known as the Crop Protection King.
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