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New Bond Issues:

1. AIIB - HKD 3Y
Issuer: Asian Infrastructure Investment Bank
Initial Price Guidance: 3.875% Area

2. MIRAE ASSET SECURITIES - USD 3Y
Issuer: Mirae Asset Securities Co., Ltd.
Initial Price Guidance: CT3 + 125 bps area (Est. 5.570%)

3. LENDLEASE GLOBAL COMMERCIAL REIT - SGD PERPNC3
Issuer: Lendlease Global Commercial REIT
Initial Price Guidance: 5.000% Area

❗Cathay Pacific Soars Back to Peak Profitability!✈️💹

Discover how Cathay Pacific has not only returned to profitability but is also clearing debts ahead of schedule. Could this be the airline's golden era? 👀

Read the full story here: https://bit.ly/4gKxm0m

New Bond Issues:

1. HUTCHISON PORT HOLDINGS TRUS - USD 5Y
Issuer: HPHT Finance (25) Limited
Guarantor: (1) Hutchison Port Holdings Trust (2) HPHT Limited
Initial Price Guidance: T+110 bps Area (Est. 5.427%)

2. KANSAI ELECTRIC POWER - USD 5Y
Issuer: The Kansai Electric Power Company, Incorporated
Initial Price Guidance: UST+100bps area (Est: 5.327%)

3. SMFG - USD Perp
Issuer: Sumitomo Mitsui Financial Group
Initial Price Guidance: 6.875% Area

4. ORIX - USD 10Y
Issuer: ORIX Corporation
Initial Price Guidance: T+115-120bps (Est. 5.626%-5.676%)

❗GuocoLand Unveils New SGD NC5 Perpetuals at 4.65% IPG! 🏢

Explore GuocoLand's latest offering in the bond market with an attractive initial price guidance of 4.65%. Could this be the perpetual security you've been waiting for? 👀

Read more here: https://bit.ly/3XsECqX

❗Idea of the Week: Embraer Bonds - A Strong Case for Investment!📈✈️

Embraer shines with robust 3Q24 financials, high order backlog, and significant deleveraging. Learn why their bond could be a good pick 📈

Read the full breakdown here: https://bit.ly/3CCciLv

🔥STRIPS: Small Investments for a Big Future🌱

Discover how STRIPS can transform small investments into a big future. Learn the ins and outs of this investment strategy.

Read all about it here: https://bit.ly/4hAsITJ

❗CSI Properties' Rights Issue: A Solution for Debt Repayment? 💵🏢

Explore how CSI Properties plans to use a rights issue to manage its debt. Will it be enough to repay the July 2025 USD bond? 🧐

Get the full story here: https://bit.ly/4guWPKP

New Bond Issues:

1. FAR EAST HORIZON LIMITED - CNH 3Y
Issuer: Far East Horizon Limited
Initial Price Guidance: 4.75% Area

2. KEPCO - USD 3Y
Issuer: Korea Electric Power Corporation
Initial Price Guidance: CT3+ 90bps area (Est. 5.106%)

Interested to learn more about Astrea Private Equity bonds and the performance of the bonds?

Join the annual Astrea Investor Day 2025 hosted by Azalea Investment Management on 18 Feb (Tue) 10:30am – 12pm!

Also, don’t miss the special segment featuring Margaret and En Yaw as they reflect on a decade of Azalea’s achievements and share their insights on the series of Astrea bonds.

Register here: https://zoom.us/webinar/register/6417376448110/WN_wVNubDb5RIqu2FmbC-pHFQ

🔍 January 2025 FOMC Meeting Recap 📊

Get the latest insights on the Federal Reserve's decisions and what they mean for the markets. What's next for interest rates? 🏦

Read the full breakdown here: https://bit.ly/40HZoTZ

❗Bank of New Zealand Offers Attractive 5.6% Yield-to-Call on New USD Tier 2 Bond 🇳🇿

Explore this high-yield opportunity from the Bank of New Zealand now available on Bond Express!

Check out the details here: https://bit.ly/3PQ3XGU

Country Garden - Progress in Restructuring and Financial Results Announcement

🔹On 9 January 2025, Country Garden disclosed the latest developments in its offshore debt restructuring and business operations.

🔹The Group reached a consensus with the co-ordination committee (comprising seven banks controlling 48% outstanding principal amount of three syndicated loans) on key terms of the restructuring plan.

🔹The Group anticipates that the restructuring plan will reduce its offshore debt by up to USD 11.6 billion, equivalent to 70% of the total offshore debt (approximately USD 10.3 billion in bonds, USD 3.6 billion in syndicated loans, USD 1.1 billion in shareholder loans, and around USD 1.4 billion in other offshore debt).

Link to full article:

https://www.bondsupermart.com/bsm/article-detail/country-garden-progress-in-restructuring-and-financial-results-announcement-ARTIC0000001462

❗Great Eastern Life: New USD NC7 AT1 Bond 📈

Great Eastern Life introduces a new USD NC7 AT1 bond with an impressive 5.90% Initial Price Guidance.

Learn more here: https://bit.ly/42d9oXL

New Bond Issues:

1. GREAT EASTERN LIFE - USD PerpNC7
Issuer: The Great Eastern Life Assurance Company Limited
Initial Price Guidance: 5.90% Area

2. BOC MACAU BRANCH - CNH 2Y
Issuer: Bank of China Limited, Macau Branch
Final Price Guidance: 2.90% Area

3. TOYOTA FINANCE AUSTRALIA - AUD 5Y
Issuer: Toyota Finance Australia Limited
Initial Price Guidance: SQASW + 115bps Area (Est. 5.282%)

4. HYUNDAI CAPITAL SERVICES - USD 3Y
Issuer: Hyundai Capital Services, Inc.
Initial Price Guidance: CT3+105bps Area (Est. 5.528%)

5. HDB - SGD 5Y
Issuer: Housing & Development Board
Final Price Guidance: 3.120% Area

❗CTF Services: The Toll Road Dilemma 🛣️💰

Discover how disposing of all toll road businesses might be the key to managing debt for CTF Services. Will this strategy pay off? 👀

Read the full analysis here: https://bit.ly/3C61apK

New Bond Issues:

1. BPCE - SGD 10NC5
Issuer: BPCE SA
Initial Price Guidance: 4.85% Area

2. Commonwealth Bank of Australia - USD 5Y
Issuer: Commonwealth Bank of Australia
Initial Price Guidance: T5 + 235bps Area (Est 3.621%)

New Bond Issue:

CLP POWER HK - USD PERP
Issuer: CLP Power Hong Kong Financing Limited
Guarantor: CLP Power Hong Kong Limited
Final Price Guidance: 5.875% Area

New Bond Issues:

1. FOSUN INTERNATIONAL LTD - USD
Issuer: Fortune Star (BVI) Limited
Guarantor: Fosun International Limited
Final Price Guidance: 8.50% Area

2. AIRPORT AUTHORITY HONG KONG - CNH
Issuer: Airport Authority Hong Kong

**10Y
Initial Price Guidance: 3.20% Area

**30Y
Initial Price Guidance: 3.70% Area

3. AIRPORT AUTHORITY HONG KONG - HKD
Issuer: Airport Authority Hong Kong

**3Y
Initial Price Guidance: 4.40% Area

**5Y
Initial Price Guidance: 4.45% Area

**10Y
Initial Price Guidance: 4.60% Area

**30Y
Initial Price Guidance: 4.90% Area

4. CRÉDIT AGRICOLE - SGD 10NC5
Issuer: Crédit Agricole S.A.
Initial Price Guidance: 4.55% Area

5. BOC AVIATION - USD 3Y
Issuer: BOC Aviation (USA) Corporation
Guarantor: BOC Aviation Limited
Initial Price Guidance: T+90bps area (Est. 5.225%)

New Bond Issues:

1. CHINA HONGQIAO - USD 3Y
Issuer: China Hongqiao Group Limited
Initial Price Guidance: 7.50% Area

2. NATIONAL AUSTRALIA BANK - USD
Issuer: National Australia Bank Limited

**5Y
Initial Price Guidance: T+75 bps area (Est. 5.181%)

**11Y
Initial Price Guidance: T+155bps area (Est. 6.172%)

3. MUFG - USD
Issuer: Mitsubishi UFJ Financial Group, Inc. (MUFG)

**6Y
Initial Price Guidance: T+100bps area (Est. 5.180%)

**11Y
Initial Price Guidance: T+115-120bps area (Est. 5.330%)

4. EXPORT-IMPORT BANK OF INDIA - USD 10Y
Issuer: Export-Import Bank of India
Initial Price Guidance: T+130 bps area (Est. 5.898%)

🔥 Investment-Grade Bonds: Seize the Yield Opportunity! 💰

Discover how investment-grade bonds can be your portfolio's new best friend - offering security and impressive yields in today's market. 📈

Read-up: https://bit.ly/4a3dDHb

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