Primary Deals & Themes

New Issue Recap Cur Issuer / Obligor Rating (M/S/F) Tenor / Maturity IPG / FPG Rank Denoms (k) Nature Price Guidance Yield (%) AUD Sydney Airport Finance Company Pty Limited Baa1 / BBB+ / 7Y S/Q ASW+bps area / Secured 10 x 10 Live Deal 5.75 CNH CSCIF Hong Kong Limited / BBB+ / 2Y…...

New Issue Recap Issuer / Obligor Rating (M/S/F) Tenor Price Guidance Yield (%) Payment Rank China Great Wall International Holdings VI Limited / / BBB- 3Y 5.81 Senior Unsecured Science City (Guangzhou) Investment Group Co., Ltd. / / BBB 2Y 6.00 Senior Unsecured Chongqing Hechuan City Construction Investment (Group) Co., Ltd. / / 3Y 6.80…...

New Issue Recap Cur Issuer / Obligor Rating (M/S/F) Tenor / Maturity IPG / FPG Rank Denoms (k) Nature Price Guidance Yield (%) USD Fujian Zhanglong Group Co., Ltd. //BBB- – / Senior Unsecured 200 x 1 Mandate – Relative Value & Yield Curve Analysis Credit Assessment Trade Ideas & Investment Takeaways… Membership Required

New Issue Recap Cur Issuer / Obligor Rating (M/S/F) Tenor / Maturity IPG / FPG Rank Denoms (k) Nature Price Guidance Yield (%) USD Wuxing Industry Investment Husheng Company Limited / / 3Y 6.5% area / Senior Unsecured 200 x 1 Live Deal 6.50% Relative Value & Yield Curve Analyze Trade Ideas & Investment Takeaways…...

Market Context The market is currently absorbing a new USD mandate from Coastal Emerald Limited, rated A3 by Moody’s and A by Fitch. Understanding its pricing relative to comparable issuers and its credit profile is crucial for evaluating its attractiveness for institutional investors. New Issue Recap Cur Issuer / Obligor Rating (M/S/F) Tenor / Maturity…...