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在线翻译:
szdaily -> Markets -> 
Beijing Orient shares slump after bond issue falters
    2018-05-24  08:53    Shenzhen Daily

A BEIJING-BASED urban landscaping company yesterday saw its shares fall for a fifth day after poor demand for its bond issue, illustrating the difficulties some corporate issuers are facing as investors become increasingly choosy and as credit risks rise.

Shares in Shenzhen-listed Beijing Orient Landscape & Environment Co. were 5.83 percent lower yesterday, two days after weak demand for the company’s bonds saw it attract just 50 million yuan (US$7.9 million) for an issue that was meant to raise as much as 1 billion yuan.

The bond issue, rated AA-plus by Shanghai Brilliance Credit Rating, had a coupon of 7 percent. The average yield on 3-year corporate debt rated AA-plus has risen nearly 48 basis points since April 19 amid a string of corporate debt defaults.

“The market’s requirements have changed so suddenly, and Orient Landscape wasn’t able to meet the market’s needs so quickly,” said Samuel Chien, managing director of Shanghai BoomTrend Investment.

He added that some other listed companies could face similar situations in the current market environment.

Orient Landscape said in a statement to the Shenzhen Stock Exchange on Monday that its cash conditions were good and that its operational situation was normal. The company made principal and interest payments worth 832.5 million yuan on 270-day commercial paper that matured Monday.

Eleven companies in China have defaulted on interest and principal payments on 18 bonds worth a combined 15.6 billion yuan since January. Twelve of those defaults have come since the beginning of March.

(SD-Agencies)

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