In today’s briefing:
- Shandong Hi-Speed New Energy (1250 HK)’s Unconditional MGO Now Open
- Lucror Analytics – Morning Views Asia
Shandong Hi-Speed New Energy (1250 HK)’s Unconditional MGO Now Open
- Back on the 27 December, Shandong Hi-Speed Holdings (412 HK) completed two SPAs, elevating its stake in Shandong Hi-Speed New Energy (1250 HK) to 56.97% from 43.45%, triggering an unconditional MGO.
- The Composite Doc is now out, and the Offer is open for tendering. The close of the Offer is the 18th Feb, 21 days out. Don’t expect an extension.
- The IFA has declared the terms fair & reasonable. Which is probably true.
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: Adani Energy Solutions, China Water Affairs, Anton Oilfield, Tata Steel, China Vanke
- In the US, December 2024 new-home sales rose 3.6% m-o-m (1.7% e / 9.6% revised p) to an annualised 698 k units. Full-year newhome sales were up 2.5% y-o-y at 683 k units, with the median sale price rising 2.1% to USD 427 k.
- Treasuries rallied on haven demand amid a sell-off in equities, as well as on the back of a strong 5Y notes auction. The yield on the 2Y UST declined 7 bps to 4.20%, while the yield on the 10Y UST fell 9 bps to 4.54%.
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