Markets· Bond

China Bond Daily News 09:50 BJT

minutes 2019/12/02 03:56:08

Dec 02, 2019 (China Knowledge) - Today 222 new bonds to be listed for trading, 39 new bonds put up for tender.

Today SSE T-bond index opened higher, up 176.49bp at 0.02%.

14-day pledge-style T-bond on the Shanghai Stock Exchange (SSE) rose 4 bp to 2.75%.

PBoC says the banking system’s liquidity is at reasonably high level,it will not carry out reverse repo, and no reverse repo will come due today.

The opening price of 1-day inter-bank pledge-style repo (DR001) was 2.50%, and the weighted average price of the previous day at 2.3585%. The opening price of the 7-day inter-bank pledge-style repo (DR007) priced at 2.60%,and the weighted average price of previous day was 2.5765%.

T-bond futures opened lower with 10-year and 5-year contracts up by 0.19% and 0.12%,respectively.

The yields on 10-year bond ‘190215’ issued by China Development Bank was slightly up 3 bp at 3.5975%.

Guirenniao (603555) announced, as of to date, its subsidiary “14 Guirenniao” bond of RMB 647 mln, with interest rate of 7% mature today (Dec 3, 2019). Due to its current liquidity problem, there is a risk that this may not be redeemed. At present, the company is seeking to redeem matured bonds.

China Central Depository & Clearing Co., Ltd. supports CDB to issue the first financial bond with floating interest pegging to one-year LPR (no less than 135 BPS). The bonds adopt Dutch Bidding, with a two-year term and an issue scale of RMB 3 bln. The Bid-to-Cover ratio is 9.42.

This week, 10 public companies will announced plans to issue convertible bonds, raising a total of RMB 8.643 bln.

2 Dec,1-day inter-bank pledge-style repo climbed up by 29.76 bp to 2.3585%,7-day declined by 1.97 bp to 2.5765%,14-day slid 2.26 bp to 2.5016%.

Shanghai Pudong Development Bank announced it will issue not more than RMB 8 bln Tier-2 capital bonds.

There will be 5 corporate bonds to be issued on China's onshore bond market, with a planned issuance scale of RMB 31.40 bln. 

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