Main

Last Update Date:8 January 2020

Notes, Risk Disclosure and Disclaimer

Independence intermediary

Phillip Securities (Hong Kong) Ltd. is an independent intermediary for the product of bonds because:

1. we do not receive fees, commissions, or any other monetary benefits, provided by any party in relation to the distribution of the investment product to you; and

2. we do not have any close links or other legal or economic relationships with the product of bond issuers, or receive any non-monetary benefits from any party, which are likely to impair its independence to favour any bond product, any class of bond products or any bond issuer.

Key Product Risks

It is crucial to understand the specific forms and risks mentioned in the relevant offering documents (if applicable) before investing. Key risks include but are not limited:

●Credit Risk

Investors assume credit risk of the Issuer and the Guarantor (if applicable). Any changes to the credit rating of them will affect the price and value of the bonds. Bonds are subject to the risk of the issuer defaulting on its obligations, i.e. An issuer fails to make principal and interest payments when due. The worst case such as bankruptcy of the Issuer/Guarantor will result in the loss of your entire investment. Credit ratings assigned by credit rating agencies do not guarantee the creditworthiness of the issuer.

●Liquidity Risk

The bond may have limited liquidity and may not be actively traded and/or quoted by brokers in the market. As such,

(i)The value of bond and/or indicative bid/offer price will depend on market liquidity and conditions and may not be available at all times;

(ii)It may take a longer time or impossible to sell the bond to the market and;

(iii)The executable sale price may be unfavourably different by large amounts from the indicative bid price quoted.

●Interest Rate Risk

Bonds are more susceptible to fluctuations in interest rates and generally prices of bonds will fall when interest rates rise.

●Market Risk

The value of investments may fluctuate due to changing political, legal, economic conditions and change in interest rate. This is common to all markets and asset classes. Investor may get back an amount substantially less than initially invested.

●Currency Risk

For bonds denominated in a foreign currency, there may be an exchange loss when converting the redemption amount back to the local or base currency.

For Product denominated in Renminbi (RMB) or with underlying assets that are denominated in RMB only

Conversion between RMB and foreign currencies, including Hong Kong dollar, subject to PRC regulatory restrictions – RMB is currently not freely convertible and conversion of RMB through banks in Hong Kong is subject to certain restrictions. The PRC government regulates conversion between RMB and foreign currency both in Hong Kong SAR and mainland China, which as a result may affect the liquidity.

Some bonds may contain special features and risks that warrant special attention. These include bonds:

●Risk associated with Subordinated Debentures

Holders of subordinated debentures will bear higher risks than holders of senior debentures of the issuer due to a lower priority of claim in event of the Issuer’s liquidation. Subordinated debentures are unsecured and have lesser priority than that of an additional debt claim of the same asset. They usually have a lower credit rating than senior bonds. Investor’s specific attention is drawn to the credit information of this product, including the respective credit rating of the issuer, the debenture and/or the guarantor, as the case may be.

●Risk associated with Variable Coupon/ Coupon Deferral Features

If the bonds contain variable and/or deferral of interest payment terms and investors would face uncertainty over the amount and time of the interest payments to be received.

●Risk associated with Extendable Maturity Date

If the bonds contain extendable maturity dates terms and investors would not have a definite schedule of principal repayment.

●Risk associated with Convertible or Exchangeable Debentures

They are convertible or exchangeable in nature and investors are subject to both equity and bond investment risk; and/or that have contingent write-down or loss absorption feature and the bond may be written-off fully or partially or converted to common stock on the occurrence of a trigger event.

●Risk associated with High Yield Bond

1.Higher default risk: The bonds with higher yield are usually with a lower investment grading or even no credit rating, therefore their default risk is higher;

2.During the economic recession, the issuers of high yield bonds may be more susceptible to financial difficulties, therefore their default risk is higher;

3.The liquidity of high yield bonds are usually lower, a higher discount may be needed when selling or even cannot sell in the secondary market;

4.When there is adverse news in the market or the issuer, the price or liquidity of the high yield bonds may even drop further.

●Risk associated with Complex Bond

1.Complex bonds are bonds with special features (including, but not limited to, perpetual or subordinated bonds, or those with variable or deferred interest payment terms, extendable maturity dates, or those which are convertible or exchangeable or have contingent write down or loss absorption features, or those with multiple credit support providers and structures) and/or bonds comprising one or more special features;

2.SFC has not audited the related offering documents of the bonds, investors have to understand the terms clearly before taking actions;

3.As the bonds contain complex terms, the past performance of the bonds is less useful for reference and cannot be an indicator of future performance.

●Risk associated with Non-rated Bond

1.Non-rated bonds present additional uncertainties because of the difficulties in determining their comparability to rated bonds;

2.Non-rated bonds are often compared to speculative bonds as they generally carry more uncertainties than investment grade bonds;

3.Non-rated bonds tend to have smaller issue size; these bonds may have less liquidity than rated bonds that have a larger issue size;

4.Bondholders may face significant price volatility, or potential lack of liquidity and investment loss.

●Risk associated with Perpetual Debentures

1.The bondholder may face reinvestment risk when the issuer exercises its right to redeem the bond before it matures. This usually occurs when interest rates have fallen substantially since the issuance date;

2.Reinvestment risk refers to the risk that the rate at which coupon and principal cash flows from a bond are reinvested will be lower than the expected rate in effect when the bond was purchased;

3.The predictability of cash flow pattern of a callable bond may be uncertain due to the embedded option;

4.The price appreciation potential of a callable bond would be limited relative to a comparable option-free bond since the upside of the bond price is capped at the call price;

5.As time passes, uncertainties over the creditworthiness of the issuer increase;

6.Interest rate may rise substantially since the issuance date. Under such situation, the coupon rate paid by the perpetual bond may be significantly lower than the prevailing interest rate.

●Risk associated with Callable Bond

1.The bondholder may face reinvestment risk when the issuer exercises its right to redeem the bond before it matures. This usually occurs when interest rates have fallen substantially since the issuance date;

2.Reinvestment risk refers to the risk that the rate at which coupon and principal cash flows from a bond are reinvested will be lower than the expected rate in effect when the bond was purchased;

3.The predictability of cash flow pattern of a callable bond may be uncertain due to the embedded option;

4.A call schedule for a callable bond may have different call prices depending on the call dates;

5.The price appreciation potential of a callable bond would be limited relative to a comparable option-free bond since the upside of the bond price is capped at the call price;

6.If an investor bought a bond with a premium, a loss may occur when the bond is called back by an issuer before the date of maturity.

●This is a putable bond. Investors should note that:

1.The bondholder may face reinvestment risk when he/she exercises his/her right to sell the bond before it matures. This usually occurs when interest rates have risen substantially since the issuance date;

2.Reinvestment risk refers to the risk that the rate at which coupon and principal cash flows from a bond are reinvested will be lower than the expected rate in effect when the bond was purchased;

3.The predictability of cash flow pattern of a putable bond may be uncertain due to the embedded option;

4.Once the put option is exercised, the bondholder loses any future coupon payments that he/she may otherwise have been due;

5.In the event of a liquidity problem, an issuer may not able to buy back the bonds when bondholders exercise the put option.

●Risk associated with Make Whole Call Option (Special Feature)

1.The bondholder may face reinvestment risk when the issuer exercises its right to redeem the bond before it matures. This usually occurs when interest rates have fallen substantially since the issuance date;

2.Reinvestment risk refers to the risk that the rate at which coupon and principal cash flows from a bond are reinvested will be lower than the expected rate in effect when the bond was purchased;

3.Under a Make-Whole Call provision, the issuer has to make a payment set as a yield spread over a reference rate, or a payment equal to the present value of all future coupon and principal payments that bondholders would have received, had the bond not been called;

4.The predictability of cash flow pattern of a bond with a make-whole call option may be uncertain;

5.Unlike a normal callable bond, there may be no predetermined callable date and callable price for bonds with a make-whole call option

 

Bonds Trading

Besides traditional stock market, we are also providing the bonds trading and investing services, which let you enjoy a fixed and steady income under the fast changing environment.

About bonds

Bond is an instrument of indebtedness of the bond issuer to the holders. Government, corporations and companies issue bonds to raise fund. Buying bonds is same as lending fund to the issuers, issuers are obliged to pay them interest (the coupon) and/or to repay the principal at a later date, termed the maturity. Bond holders can choose to hold to bonds until it matures or sell it before maturity at the market price.

Why Investing Bonds

  • Enjoy a higher return than bank fixed deposits
  • Receive coupon interest regularly
  • Variety of choice. Select the bonds suit you the most
  • Credit ratings of government bonds are higher than the banks
  • Maturity can be as short as 3 months
  • Withdraw before maturity without charging extra interests
  • Can be used as stock margin deposits*
  • Handling fee as low as 0.15% of the nominal value
  • Generally, Corporate bonds are less volatile than the related stock

*Margin ratio of bonds up to 80%

Bonds

Bonds Investment service in Phillip

We are providing you a comprehensive bonds investment service with a direct hotline, perfect branch network and precise quote service.

  • Minimum Investment amount: HKD 500,000 or minimum niminal value for HKD bonds. USD100,000 for USD bonds.
  • No interest collection charges or redeem fees.
  • Feel free to call us at 2277 6662 to ask for more information and quotes.

查詢

查詢債券最新報價及進行交易,歡迎聯絡您的客戶主任或致電債券投資熱線 2277 6662。
電郵 : bonds@phillip.com.hk


亦可參考本公司於香港金融管理局債券報價網站之最新報價

香港金融管理局債券報價網站

 

債券最新報價亦可參考香港金融管理局的輝立証券(香港)有限公司 債券報價網站
本公司以主事人身分行事,並與以上產品的發行人沒有從屬關係。

 

輝立証券(香港)有限公司已採取措施提供準確而可靠的資料,但並不保證資料絕對無誤,及不擬就有關由第三方提供的資料所出現的錯誤或違漏承擔任何責任。 以上所有資料只供參考用途。投資決定在於您本人。除非你完全明白及願意承擔債券的相關風險,否則你不應投資該產品。 債券表現受發行人的實際和預計借貸能力所影響。就償債責任而言,債券不保證發行人不會拖欠債務。在最壞情況下(如發行者不履行契約),債券持有人可能無法取回債券的利息和本金。
債券主要提供中長期的投資,並不是短線投機的工具。你應準備於整段投資期內將資金投資於有關債券上;若你選擇在到期日之前提早出售債券,可能會損失部份或全部的投資本金。
債券的利息和本金是由發行者償還,債券持有人須承擔發行者的信貸風險。如果發行者不履行契約,債券持有人可能無法取回債券的利息和本金。在此情況下,債券持有人不能向本公司追討任何賠償,並與以上產品的發行人沒有從屬關係。

有關債券的風險請查看此連結

We have performed product due diligence on the list of bonds listed below. Clients may select the right product from list according to their own product risk.
The availability of a reference price for any particular bond is subject to market liquidity. Please contact 2277-6662 for the quotation or further details.

   
United States Treasury securities
Currency Issuer Coupon
(%)
Maturity
(dd/mm/yyyy)
Bid Offer Yield
(%)
Offer Yield
(%)
Risk Min. Piece Increment Redeem
USD US TREASURY N/B
T 2 1/2 08/15/23
2.5 15-Aug-2023 98.37 98.73 4.96 4.41 - 20000 100 N
USD US TREASURY N/B
T 2 3/8 01/31/23
2.375 31-Jan-2023 99.56 99.94 5.41 2.73 - 20000 100 N
USD US TREASURY N/B
T 2 3/4 04/30/23
2.75 30-Apr-2023 99.16 99.53 4.94 3.97 - 20000 100 N
USD US TREASURY N/B
T 4 3/8 10/31/24
4.375 31-Oct-2024 99.92 100.24 4.42 4.24 - 20000 100 N
USD US TREASURY N/B
T 3 06/30/24
3 30-Jun-2024 97.59 97.94 4.62 4.38 - 20000 100 N
USD US TREASURY N/B
T 2 3/8 02/29/24
2.375 29-Feb-2024 97.21 97.56 4.75 4.45 - 20000 100 N
USD US TREASURY N/B
T 2 7/8 06/15/25
2.875 15-Jun-2025 96.98 97.32 4.15 4.01 - 20000 100 N
USD US TREASURY N/B
T 4 1/4 10/15/25
4.25 15-Oct-2025 100.48 100.8 4.07 3.95 - 20000 100 N
USD US TREASURY N/B
T 4 1/8 09/30/27
4.125 30-Sep-2027 101.77 102.1 3.72 3.64 - 20000 100 N
USD US TREASURY N/B
T 3 1/4 06/30/27
3.25 30-Jun-2027 97.9 98.24 3.76 3.67 - 20000 100 N
USD US TREASURY N/B
T 1 3/4 11/15/29
1.75 15-Nov-2029 89.43 89.81 3.48 3.41 - 20000 100 N
USD US TREASURY N/B
T 3 7/8 09/30/29
3.875 30-Sep-2029 101.65 101.98 3.6 3.54 - 20000 100 N
USD US TREASURY N/B
T 2 3/4 08/15/32
2.75 15-Aug-2032 94.16 94.53 3.46 3.42 - 20000 100 N
USD US TREASURY N/B
T 2 7/8 05/15/32
2.875 15-May-2032 95.29 95.63 3.46 3.42 - 20000 100 N
USD US TREASURY N/B
T 4 1/2 02/15/36
4.5 15-Feb-2036 111.55 112.26 3.4 3.34 - 20000 100 N
USD US TREASURY N/B
T 2 3/8 11/15/49
2.375 15-Nov-2049 79.74 80.23 3.55 3.52 - 20000 100 N
High Yield Bonds
Currency Issuer Coupon
(%)
Maturity
(dd/mm/yyyy)
Bid Offer Yield
(%)
Offer Yield
(%)
Risk Min. Piece Increment Redeem
USD CN ENERGY RSRVE CHMCALS
CERCG 6 1/8 01/15/19
6.125 15-Jan-2019 - - - - - 200000 1000 N
USD QINGHAI INVEST GROUP
QHINVG 7 1/4 02/22/20
7.25 22-Feb-2020 - - - - - 200000 1000 N
USD ZHONGRONG INT RES CO LTD
SDCOKI 7 1/4 10/26/20
7.25 26-Oct-2020 - - - - - 200000 1000 N
USD TAHOE GROUP GLOBAL CO LT
THHTGP 7 7/8 01/17/21
7.875 17-Jan-2021 - - - - - 200000 1000 N
USD MODERN LAND CHINA CO LTD
MOLAND 12.85 10/25/21
12.85 25-Oct-2021 5.42 8.29 - - - 200000 1000 N
USD OCEANWIDE HOLDINGS III
FANHAI 14 1/2 05/23/21
14.5 23-May-2021 - - - - - 200000 1000 N
USD FANTASIA HOLDINGS GROUP
FTHDGR 15 12/18/21
15 18-Dec-2021 7.07 8.95 - - - 200000 1000 N
USD FANTASIA HOLDINGS GROUP
FTHDGR 6.95 12/17/21
6.95 17-Dec-2021 6.95 8.83 - - - 200000 1000 N
USD FANTASIA HOLDINGS GROUP
FTHDGR 7 3/8 10/04/21
7.375 04-Oct-2021 7.18 9.04 - - - 200000 1000 Y
USD CFLD CAYMAN INVESTMENT
CHFOTN 8 5/8 02/28/21
8.625 28-Feb-2021 9.03 11 - - - 200000 1000 N
USD CFLD CAYMAN INVESTMENT
CHFOTN 9 06/21/21
9 21-Jun-2021 8.9 11.03 - - - 200000 1000 N
USD CFLD CAYMAN INVESTMENT
CHFOTN 9 07/31/21
9 31-Jul-2021 8.81 11.28 - - - 200000 1000 N
USD CHINA AOYUAN GROUP LTD
CAPG 8 1/2 01/23/22
8.5 23-Jan-2022 6.15 8.1 - - - 200000 1000 Y
USD CENTRAL CHN REAL ESTATE
CENCHI 6 7/8 08/08/22
6.875 08-Aug-2022 - - - - - 200000 1000 Y
USD CFLD CAYMAN INVESTMENT
CHFOTN 7 1/8 04/08/22
7.125 08-Apr-2022 8.91 10.67 - - - 200000 1000 N
USD CFLD CAYMAN INVESTMENT
CHFOTN 8 3/4 09/28/22
8.75 28-Sep-2022 8.94 10.69 - - - 200000 1000 N
USD SOFTBANK GROUP CORP
SOFTBK 5 3/8 07/30/22
5.375 30-Jul-2022 - - - - - 200000 1000 Y
USD RONSHINE CHINA
RONXIN 8 3/4 10/25/22
8.75 25-Oct-2022 4.39 6.15 - - - 200000 1000 Y
USD AGILE GROUP HOLDINGS LTD
AGILE 5 1/8 08/14/22
5.125 14-Aug-2022 - - - - - 200000 1000 Y
USD CHINA AOYUAN GROUP LTD
CAPG 5 3/8 09/13/22
5.375 13-Sep-2022 5.97 8.18 - - - 200000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 7.95 07/05/22
7.95 05-Jul-2022 6.97 8.87 - - - 200000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 11 3/4 04/17/22
11.75 17-Apr-2022 7.1 8.95 - - - 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 9 1/2 04/11/22
9.5 11-Apr-2022 6.28 7.97 - - - 200000 1000 N
USD FANTASIA HOLDINGS GROUP
FTHDGR 12 1/4 10/18/22
12.25 18-Oct-2022 7.06 8.84 - - - 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 8 1/4 03/23/22
8.25 23-Mar-2022 6.08 7.92 - - - 200000 1000 Y
USD ZOOMLION HK SPV CO LTD
ZOOMLI 6 1/8 12/20/22
6.125 20-Dec-2022 99.24 100.5 32.79 -11.49 - 200000 1000 N
USD CHINA HONGQIAO GROUP LTD
HONGQI 7 1/8 07/22/22
7.125 22-Jul-2022 - - - - - 200000 1000 N
USD CHINA SHUIFA SINGYES
CSSXF 6 12/19/22
6 19-Dec-2022 93.64 95.93 269.87 170.88 - 150000 1 Y
USD LOGAN GROUP CO LTD
LOGPH 7 1/2 08/25/22
7.5 25-Aug-2022 17.1 19.45 - - - 200000 1000 Y
USD LANDSEA GREEN MANAGEMENT
LSEAGN 10 3/4 10/21/22
10.75 21-Oct-2022 65.48 66.21 - - - 200000 1000 N
USD MODERN LAND CHINA CO LTD
MOLAND 11.8 02/26/22
11.8 26-Feb-2022 5.42 8.29 - - - 200000 1000 N
USD POWERLONG REAL ESTATE
PWRLNG 7 1/8 11/08/22
7.125 08-Nov-2022 - - - - - 200000 1000 Y
USD REDCO PROPERTIES GROUP
REDPRO 11 08/06/22
11 06-Aug-2022 - - - - - 200000 1000 N
USD SCENERY JOURNEY LTD
TIANHL 11 1/2 10/24/22
11.5 24-Oct-2022 4.65 6.71 - - - 200000 1000 Y
USD SCENERY JOURNEY LTD
TIANHL 13 11/06/22
13 06-Nov-2022 4.49 6.57 - - - 200000 1000 Y
USD HEJUN SHUNZE INVESTMENT
LGUANG 11 06/04/22
11 04-Jun-2022 0.52 2.4 - - - 200000 1000 N
USD YANGO CAYMAN INVESTMENT
YANGOG 11 3/4 09/08/22
11.75 08-Sep-2022 - - - - - 200000 1000 N
USD HEJUN SHUNZE INVESTMENT
LGUANG 8.85 01/10/22
8.85 10-Jan-2022 0.78 2.31 - - - 200000 1000 N
USD SUNAC CHINA HOLDINGS LTD
SUNAC 7.95 08/08/22
7.95 08-Aug-2022 16.63 18.92 - - - 200000 1000 Y
USD YANGO JUSTICE INTL
SUNSHI 10 1/4 03/18/22
10.25 18-Mar-2022 2.61 4.09 - - - 200000 1000 Y
USD YANGO JUSTICE INTL
SUNSHI 10 1/4 09/15/22
10.25 15-Sep-2022 1.59 4.12 - - - 200000 1000 Y
USD JIAYUAN INTL GROUP LTD
JIAYUA 12 10/30/22
12 30-Oct-2022 - - - - - 200000 1000 N
USD KAISA GROUP HOLDINGS LTD
KAISAG 10 1/2 09/07/22
10.5 07-Sep-2022 12 13.89 - - - 200000 1000 N
USD KAISA GROUP HOLDINGS LTD
KAISAG 11 1/4 04/09/22
11.25 09-Apr-2022 12.13 13.54 - - - 200000 1000 Y
USD NEW METRO GLOBAL LTD
FTLNHD 5 08/08/22
5 08-Aug-2022 - - - - - 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 11.95 10/22/22
11.95 22-Oct-2022 12.12 13.89 - - - 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 8 1/2 06/30/22
8.5 30-Jun-2022 12.03 13.92 - - - 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 8.65 07/22/22
8.65 22-Jul-2022 12.11 13.92 - - - 200000 1000 N
SGD OLAM INTERNATIONAL LTD
OLAMSP 6 10/25/22
6 25-Oct-2022 - - - - - 250000 250000 N
USD SINIC HOLDINGS GROUP CO
SINHLD 10 1/2 06/18/22
10.5 18-Jun-2022 0.92 3.55 - - - 200000 1000 N
USD SUNAC CHINA HOLDINGS LTD
SUNAC 6 1/2 07/09/23
6.5 09-Jul-2023 9.6 10.33 825.97 778.66 - 200000 1000 Y
USD SHUI ON DEVELOPMENT HLDG
SHUION 5 3/4 11/12/23
5.75 12-Nov-2023 91.57 93.38 15.92 13.62 - 200000 1000 Y
USD RONSHINE CHINA
RONXIN 8.95 01/22/23
8.95 22-Jan-2023 6.45 7.18 - - - 200000 1000 Y
USD HOPSON DEVELOPMENT HLDGS
HPDLF 6.8 12/28/23
6.8 28-Dec-2023 79.94 82.49 30.51 27.03 - 200000 1000 Y
USD NEW METRO GLOBAL LTD
FTLNHD 6.8 08/05/23
6.8 05-Aug-2023 89.71 92.39 24.75 19.73 - 200000 1000 Y
USD SEAZEN GROUP LTD
FUTLAN 6.15 04/15/23
6.15 15-Apr-2023 - - - - - 200000 1000 Y
USD GOLDEN WHEEL TIANDI
GWTH 14 1/4 01/09/23
14.25 09-Jan-2023 - - - - - 200000 1000 Y
AUD VIRGIN AUSTRALIA HOLDING
VAHAU 8 1/4 05/30/23
8.25 30-May-2023 0.91 10.38 - 778.1 - 50000 10000 Y
AUD CENTURIA CAPITAL 2 FUND
CNIAU 6 1/2 04/21/23
6.5 21-Apr-2023 - - - - - 50000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 9 1/4 07/28/23
9.25 28-Jul-2023 5.53 6.26 - - - 200000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 9 7/8 10/19/23
9.875 19-Oct-2023 5.65 6.38 903.02 833.6 - 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 11 1/2 01/30/23
11.5 30-Jan-2023 9.03 9.76 874.84 825.31 - 200000 1000 Y
USD HAIMEN ZHONGNAN INV DEV
JIAZHO 12 06/05/23
12 05-Jun-2023 - - - - - 150000 1 Y
USD YANGO JUSTICE INTL
SUNSHI 8 1/4 11/25/23
8.25 25-Nov-2023 1.48 3.75 - - - 200000 1000 Y
USD YANGO JUSTICE INTL
SUNSHI 9 1/4 04/15/23
9.25 15-Apr-2023 1.76 4.01 - - - 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 7.95 10/11/23
7.95 11-Oct-2023 17.2 17.93 399.11 384.53 - 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 8.35 04/19/23
8.35 19-Apr-2023 11.65 12.38 708.76 673.82 - 200000 1000 Y
USD YANGO JUSTICE INTL
SUNSHI 10 02/12/23
10 12-Feb-2023 1 4.07 - - - 200000 1000 N
USD LOGAN GROUP CO LTD
LOGPH 5 1/4 02/23/23
5.25 23-Feb-2023 16.9 17.63 501.38 481.68 - 200000 1000 Y
USD LOGAN GROUP CO LTD
LOGPH 6 1/2 07/16/23
6.5 16-Jul-2023 17.15 17.88 496.23 477.04 - 200000 1000 Y
USD SCENERY JOURNEY LTD
TIANHL 13 3/4 11/06/23
13.75 06-Nov-2023 5.15 5.88 916.62 842.14 - 200000 1000 Y
USD SCENERY JOURNEY LTD
TIANHL 12 10/24/23
12 24-Oct-2023 5.4 6.13 917.89 846.19 - 200000 1000 Y
USD REDCO PROPERTIES GROUP
REDPRO 13 05/27/23
13 27-May-2023 - - - - - 200000 1000 Y
USD GEMSTONES INTERNATIONAL
LVGEM 12 03/10/23
12 10-Mar-2023 73.78 74.51 152.23 147.03 - 200000 1000 N
USD FORTUNE STAR BVI LTD
FOSUNI 5.95 01/29/23
5.95 29-Jan-2023 95.86 98.38 14.14 10.33 - 200000 1000 Y
USD FORTUNE STAR BVI LTD
FOSUNI 6 3/4 07/02/23
6.75 02-Jul-2023 91.66 94.45 23.42 17.53 - 200000 1000 Y
USD SOFTBANK GROUP CORP
SOFTBK 5 1/2 04/20/23
5.5 20-Apr-2023 98.75 100.42 9.01 4.29 - 200000 1000 Y
USD RKPF OVERSEAS 2019 A LTD
ROADKG 7 7/8 02/01/23
7.875 01-Feb-2023 97.29 99.39 26.97 11.92 - 200000 1000 Y
GBP PROVIDENT FINANCIAL PLC
PFGLN 5 1/8 10/09/23
5.125 09-Oct-2023 - - - - - 50000 100 N
USD GARUDA ID GLOBAL SUKUK
GARUDA 5.95 06/03/23
5.95 03-Jun-2023 - - - - - 200000 1000 N
USD CHINA HONGQIAO GROUP LTD
HONGQI 7 3/8 05/02/23
7.375 02-May-2023 97.69 99.41 13.44 8.85 - 200000 1000 N
USD KNIGHT CASTLE INVESTMNTS
SHANSA 7.99 01/23/23
7.99 23-Jan-2023 - - - - - 200000 1000 N
USD TBLA INTERNATIONAL PTE L
TBLAIJ 7 01/24/23
7 24-Jan-2023 - - - - - 200000 1000 Y
USD ARCELIK AS
ACKAF 5 04/03/23
5 03-Apr-2023 99.02 100.61 8.13 3.01 - 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 11 1/2 01/22/23
11.5 22-Jan-2023 6.65 7.38 - - - 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 10 04/11/23
10 11-Apr-2023 6.5 7.23 - - - 200000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 11 7/8 06/01/23
11.875 01-Jun-2023 6.9 7.63 - - - 200000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 10 7/8 01/09/23
10.875 09-Jan-2023 6.65 7.38 - - - 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 7 1/2 06/28/23
7.5 28-Jun-2023 5.4 6.13 - - - 200000 1000 Y
USD RONSHINE CHINA
RONXIN 8.1 06/09/23
8.1 09-Jun-2023 2.62 3.35 - - - 200000 1000 Y
HKD NWD MTN LTD
NWDEVL 5.9 09/18/23
5.9 18-Sep-2023 - - - - - 2000000 500000 N
USD RONSHINE CHINA
RONXIN 7.35 12/15/23
7.35 15-Dec-2023 5.85 6.58 683.48 631.13 - 200000 1000 Y
USD CHINA AOYUAN GROUP LTD
CAPG 7.95 02/19/23
7.95 19-Feb-2023 3.85 4.58 - - - 200000 1000 Y
USD POWERLONG REAL ESTATE
PWRLNG 6.95 07/23/23
6.95 23-Jul-2023 29.62 30.35 284.15 276.17 - 200000 1000 Y
USD CENTRAL CHN REAL ESTATE
CENCHI 7.65 08/27/23
7.65 27-Aug-2023 29.65 30.38 286.02 277.9 - 200000 1000 Y
USD CFLD CAYMAN INVESTMENT
CHFOTN 6.9 01/13/23
6.9 13-Jan-2023 10.48 11.21 - - - 200000 1000 N
USD CENTRAL CHN REAL ESTATE
CENCHI 7 1/4 04/24/23
7.25 24-Apr-2023 24.15 24.88 357.32 346.18 - 200000 1000 Y
USD CENTRAL CHN REAL ESTATE
CENCHI 7 3/4 05/24/24
7.75 24-May-2024 23.85 27.68 149.09 130.42 - 200000 1000 Y
USD CFLD CAYMAN INVESTMENT
CHFOTN 8.6 04/08/24
8.6 08-Apr-2024 8.47 9.2 354.53 336.52 - 200000 1000 N
SGD OXLEY MTN PTE LTD
OHLSP 6.9 07/08/24
6.9 08-Jul-2024 93.12 95.94 11.8 9.73 - 250000 250000 N
USD CHINA AOYUAN GROUP LTD
CAPG 6.35 02/08/24
6.35 08-Feb-2024 6.45 7.18 488.26 457.33 - 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 9 1/2 03/29/24
9.5 29-Mar-2024 5.4 6.13 478.75 445.62 - 200000 1000 Y
USD FANTASIA HOLDINGS GROUP
FTHDGR 10 7/8 03/02/24
10.875 02-Mar-2024 6.4 7.13 475.34 446.29 - 200000 1000 Y
USD CHINA EVERGRANDE GROUP
EVERRE 10 1/2 04/11/24
10.5 11-Apr-2024 6.5 7.23 425.43 399.4 - 200000 1000 Y
USD ABJA INVESTMENT CO
TATAIN 5.95 07/31/24
5.95 31-Jul-2024 99.27 101.04 6.42 5.27 - 200000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 12 01/22/24
12 22-Jan-2024 6.5 7.23 551.03 516.53 - 200000 1000 Y
USD GCL NEW ENERGY HOLDINGS
GCLNE 10 01/30/24
10 30-Jan-2024 - - - - - 200000 1 Y
USD UKRAINE RAIL (RAIL CAPL)
RAILUA 8 1/4 07/09/24
8.25 09-Jul-2024 19.4 20.13 162.41 157.78 - 200000 1000 N
USD UKRAINE RAIL (RAIL CAPL)
RAILUA 8 1/4 07/09/24
8.25 09-Jul-2024 19.4 20.13 162.41 157.78 - 200000 1000 N
USD COUNTRY GARDEN HLDGS
COGARD 8 01/27/24
8 27-Jan-2024 70.21 72.9 44.13 40 - 200000 1000 Y
USD CHINA SOUTH CITY HOLDING
CSCHCN 9 12/11/24
9 11-Dec-2024 53.76 57.62 47.13 42.48 - 200000 1000 Y
USD CHINA SOUTH CITY HOLDING
CSCHCN 9 06/26/24
9 26-Jun-2024 53.85 56.6 58.15 53.77 - 200000 1000 Y
USD CHINA SOUTH CITY HOLDING
CSCHCN 9 04/12/24
9 12-Apr-2024 53.67 55.3 66.14 63.05 - 200000 1000 Y
USD CHINA SOUTH CITY HOLDING
CSCHCN 9 10/09/24
9 09-Oct-2024 49.15 52.9 57.22 51.68 - 200000 1000 Y
USD CHINA SOUTH CITY HOLDING
CSCHCN 9 07/20/24
9 20-Jul-2024 49.31 52.13 63.59 58.78 - 200000 1000 Y
USD PINEBRIDGE INVEST LP
PIBRIN 6 09/12/24
6 12-Sep-2024 - - - - - 200000 1000 N
USD RKPF OVERSEAS 2019 A LTD
ROADKG 6.7 09/30/24
6.7 30-Sep-2024 84.68 87.59 16.87 14.76 - 200000 1000 Y
USD REDCO PROPERTIES GROUP
REDPRO 9.9 02/17/24
9.9 17-Feb-2024 3.78 4.51 656.13 599.37 - 200000 1000 N
GBP HEATHROW FINANCE PLC
HTHROW 4 3/4 03/01/24
4.75 01-Mar-2024 96.49 98.34 7.8 6.17 - 100000 1000 Y
USD FORTUNE STAR BVI LTD
FOSUNI 6.85 07/02/24
6.85 02-Jul-2024 82.67 85.36 20.34 18.01 - 200000 1000 Y
USD MODERN LAND CHINA CO LTD
MOLAND 11.95 03/04/24
11.95 04-Mar-2024 - - - - - 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 9 3/8 06/30/24
9.375 30-Jun-2024 5.4 6.13 393.87 365.68 - 200000 1000 Y
USD SHUI ON DEVELOPMENT HLDG
SHUION 6.15 08/24/24
6.15 24-Aug-2024 84.73 86.45 16.79 15.47 - 200000 1000 Y
USD SHIMAO GROUP HLDGS LTD
SHIMAO 6 1/8 02/21/24
6.125 21-Feb-2024 8.65 9.38 387.14 367.34 - 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 7 1/2 02/01/24
7.5 01-Feb-2024 14.15 14.88 300.26 289.08 - 200000 1000 Y
USD SUNAC CHINA HOLDINGS LTD
SUNAC 6 1/2 01/10/25
6.5 10-Jan-2025 16.86 18.38 128.98 121.28 - 200000 1000 Y
USD SHUI ON DEVELOPMENT HLDG
SHUION 5 1/2 03/03/25
5.5 03-Mar-2025 79.82 82.44 16.69 15.04 - 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 9.95 07/23/25
9.95 23-Jul-2025 12.15 13.36 143.51 134.86 - 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 11.7 11/11/25
11.7 11-Nov-2025 12.16 13.88 141.06 128.85 - 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 10 1/2 01/15/25
10.5 15-Jan-2025 12.15 13.88 177.88 162.85 - 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 11 1/4 04/16/25
11.25 16-Apr-2025 12.16 13.37 163.51 153.58 - 200000 1000 Y
USD EASY TACTIC LTD
GZRFPR 7 1/2 07/11/25
7.5 11-Jul-2025 20.87 23.05 92.49 85.78 - 150000 1 Y
USD FORTUNE STAR BVI LTD
FOSUNI 5.95 10/19/25
5.95 19-Oct-2025 72.14 74.56 19.02 17.65 - 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 5 1/8 01/17/25
5.125 17-Jan-2025 58.58 61.52 34.34 31.48 - 200000 1000 Y
USD BOMBARDIER INC
BBDBCN 7 1/2 03/15/25
7.5 15-Mar-2025 98.3 101.09 8.33 6.96 - 50000 1000 Y
USD RKPF OVERSEAS 2019 A LTD
ROADKG 5.9 03/05/25
5.9 05-Mar-2025 72.75 75.23 21.94 20.19 - 200000 1000 Y
USD RKPF OVERSEAS 2019 A LTD
ROADKG 6 09/04/25
6 04-Sep-2025 70.77 74.1 20.47 18.48 - 200000 1000 Y
USD REPUBLIC OF SRI LANKA
SRILAN 6 1/8 06/03/25
6.125 03-Jun-2025 30.85 33.67 66.89 61.65 - 200000 1000 N
USD UKRAINE GOVERNMENT
UKRAIN 7 3/4 09/01/25
7.75 01-Sep-2025 23.05 24.83 82.43 77.79 - 100000 1000 N
USD CHINA EVERGRANDE GROUP
EVERRE 8 3/4 06/28/25
8.75 28-Jun-2025 6.5 7.23 209.53 196.34 - 200000 1000 Y
GBP HEATHROW FINANCE PLC
HTHROW 5 3/4 03/03/25
5.75 03-Mar-2025 96.5 98.51 7.48 6.47 - 100000 1000 N
USD AGILE GROUP HOLDINGS LTD
AGILE 5 3/4 01/02/25
5.75 02-Jan-2025 45.71 48.39 51.45 47.76 - 200000 1000 Y
USD AGILE GROUP HOLDINGS LTD
AGILE 6.05 10/13/25
6.05 13-Oct-2025 39.69 43.4 46.21 41.9 - 200000 1000 Y
USD RONSHINE CHINA
RONXIN 7.1 01/25/25
7.1 25-Jan-2025 - - - - - 200000 1000 Y
USD SOFTBANK GROUP CORP
SOFTBK 6 1/8 04/20/25
6.125 20-Apr-2025 95.11 97.06 8.45 7.5 - 200000 1000 Y
USD AGILE GROUP HOLDINGS LTD
AGILE 5 1/2 04/21/25
5.5 21-Apr-2025 43.69 45.36 47.65 45.54 - 200000 1000 Y
SGD ESR GROUP LTD
ESRCAY 5.1 02/26/25
5.1 26-Feb-2025 93.58 97.43 8.33 6.36 - 250000 250000 N
USD CENTRAL CHN REAL ESTATE
CENCHI 7 1/2 07/14/25
7.5 14-Jul-2025 19.67 22.33 96.29 87.62 - 200000 1000 Y
USD AGILE GROUP HOLDINGS LTD
AGILE 5 1/2 05/17/26
5.5 17-May-2026 38.97 40.38 39.37 37.95 - 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 7 1/4 04/08/26
7.25 08-Apr-2026 54.66 57.39 29.53 27.61 - 200000 1000 Y
USD REPUBLIC OF SRI LANKA
SRILAN 6.825 07/18/26
6.825 18-Jul-2026 29.88 32.4 51.4 47.92 - 200000 1000 N
USD RKPF OVERSEAS 2020 A LTD
ROADKG 5.2 01/12/26
5.2 12-Jan-2026 65.06 68.99 21.17 18.9 - 200000 1000 Y
USD PCPD CAPITAL
PCPDC 5 1/8 06/18/26
5.125 18-Jun-2026 - - - - - 200000 1000 Y
USD KAISA GROUP HOLDINGS LTD
KAISAG 11.65 06/01/26
11.65 01-Jun-2026 12.17 13.9 126.41 114.98 - 200000 1000 Y
USD SHIMAO GROUP HOLDINGS LT
SHIMAO 5.6 07/15/26
5.6 15-Jul-2026 14.69 17.4 81.74 73.12 - 200000 1000 Y
USD EASY TACTIC LTD
GZRFPR 7 1/2 07/11/27
7.5 11-Jul-2027 18.65 20.87 63.78 58.84 - 150000 1 Y
USD SOFTBANK GROUP CORP
SOFTBK 5 1/8 09/19/27
5.125 19-Sep-2027 86.29 88.36 8.69 8.11 - 200000 1000 Y
USD EASY TACTIC LTD
GZRFPR 7 1/2 07/11/28
7.5 11-Jul-2028 16.15 17.94 62.48 57.96 - 150000 1 Y
EUR UKRAINE GOVERNMENT
UKRAIN 6 3/4 06/20/28
6.75 20-Jun-2028 17.9 20.74 58.94 52.92 - 100000 1000 N
GBP JUST GROUP PLC
JUSTLN 8 1/8 10/26/29
8.125 26-Oct-2029 101.63 103.36 7.81 7.49 - 100000 1000 N
GBP ROTHESAY LIFE
ROTHLF 5 1/2 09/17/29
5.5 17-Sep-2029 97.47 98.5 5.96 5.77 - 100000 1000 Y
USD UKRAINE GOVERNMENT
UKRAIN 9 3/4 11/01/30
9.75 01-Nov-2030 22.28 23.98 49.09 46.21 - 200000 1000 N
USD COUNTRY GARDEN HLDGS
COGARD 5 5/8 01/14/30
5.625 14-Jan-2030 44.27 46.49 21.12 20.09 - 200000 1000 Y
USD HUTCHISON WHAM INT 03/33
CKHH 7.45 11/24/33
7.45 24-Nov-2033 119.79 122.37 5.07 4.8 - 100000 1000 N
USD UKRAINE GOVERNMENT
UKRAIN 7 3/8 09/25/34
7.375 25-Sep-2034 19.35 21.55 40.2 36.66 - 200000 1000 N
USD PETROBRAS GLOBAL FINANCE
PETBRA 7 1/4 03/17/44
7.25 17-Mar-2044 97.03 98.75 7.53 7.37 - 50000 1000 N
USD REPUBLIC OF INDONESIA
INDON 5 1/8 01/15/45
5.125 15-Jan-2045 96.32 98.28 5.41 5.26 - 200000 1000 N
USD M&G PLC
MGNLN 6 1/2 10/20/48
6.5 20-Oct-2048 96.94 99.36 6.75 6.55 - 200000 1000 Y
GBP M&G PLC
MGNLN 5.56 07/20/55
5.56 20-Jul-2055 89.17 90.82 6.35 6.22 - 100000 1000 Y
GBP BHP BILLITON FINANCE LTD
BHP 6 1/2 10/22/2077
6.5 22-Oct-2077 - - - - - 100000 1000 Y
USD ELECTRICITE DE FRANCE SA
EDF 6 01/22/2114
6 22-Jan-2114 90.94 94.4 6.6 6.36 - 50000 1000 N
USD ESTATE SKY LTD
CSIPRO 5 3/4 PERP
5.75 01-Jan-2299 - - - - - 200000 1000 Y
GBP ELECTRICITE DE FRANCE SA
EDF 6 PERP
6 01-Jan-2299 89.72 92.17 6.69 6.51 - 100000 100000 Y
USD BAOXIN AUTO FINANCE I LT
CHGRAU 9.109 PERP
9.109 01-Jan-2299 - - - - - 200000 1000 Y
USD RKI OVERSEAS FIN 2017 A
ROADKG 7 PERP
7 01-Jan-2299 40.75 43.46 17.17 16.1 - 200000 1000 Y
USD RKP OVERSEAS FI 2016 A
ROADKG 7.95 PERP
7.95 01-Jan-2299 41.82 45.42 19 17.5 - 200000 1000 Y
USD SAN MIGUEL CORP
SMCPM 5 1/2 PERP
5.5 01-Jan-2299 78.67 81.08 6.99 6.78 - 200000 1000 Y
USD LI & FUNG LTD
LIFUNG 5 1/4 PERP
5.25 01-Jan-2299 44.89 50.06 11.69 10.49 - 200000 1000 Y
USD SHUI ON DEVELOPMENT HLDG
SHUION 6.4 PERP
6.4 01-Jan-2299 - - - - - 200000 1000 Y
USD SOFTBANK GROUP CORP
SOFTBK 6 PERP
6 01-Jan-2299 94.26 96.5 6.37 6.22 - 200000 1000 Y
USD SOFTBANK GROUP CORP
SOFTBK 6 7/8 PERP
6.875 01-Jan-2299 79.67 82.21 8.63 8.36 - 200000 1000 Y
USD AGILE GROUP HOLDINGS LTD
AGILE 7 3/4 PERP
7.75 01-Jan-2299 20.16 22.89 38.37 33.81 - 200000 1000 Y
USD AGILE GROUP HOLDINGS LTD
AGILE 8 3/8 PERP
8.375 01-Jan-2299 24.5 25.23 34.14 33.15 - 200000 1000 Y
USD AGILE GROUP HOLDINGS LTD
AGILE 6 7/8 PERP
6.875 01-Jan-2299 18.22 18.95 37.67 36.22 - 200000 1000 Y
SGD ESR GROUP LTD
ESRCAY 5.65 PERP
5.65 01-Jan-2299 - - - - - 250000 250000 Y
SGD OLAM GROUP LIMITED
OLGPSP 5 3/8 PERP
5.375 01-Jan-2299 88.9 90.87 6.05 5.91 - 250000 250000 Y
Local Bank Bonds
Currency Issuer Coupon
(%)
Maturity
(dd/mm/yyyy)
Bid Offer Yield
(%)
Offer Yield
(%)
Risk Min. Piece Increment Redeem
USD YAPI VE KREDI BANKASI AS
YKBNK 5 1/2 12/06/22
5.5 06-Dec-2022 99.44 100.98 - - - 200000 1000 N
USD MORGAN STANLEY
MS 4.1 05/22/23
4.1 22-May-2023 99.21 100.07 5.89 3.93 - 50000 1000 N
USD ST SAVINGS BK (SSB #1)
OSCHAD 9 3/8 03/10/23
9.375 10-Mar-2023 69.98 74.88 178.99 142.26 - 200000 1000 N
USD NATWEST GROUP PLC
NWG 6.1 06/10/23
6.1 10-Jun-2023 99.52 100.68 7.09 4.71 - 50000 1000 N
USD STANDARD CHARTERED PLC
STANLN 3.95 01/11/23
3.95 11-Jan-2023 99.38 100.11 11.04 2.63 - 200000 1000 N
CNY MORGAN STANLEY FIN LLC
MS 4.1 09/25/23
4.1 25-Sep-2023 - - - - - 500000 1000 N
AUD LLOYDS BANK PLC
LLOYDS 5.96 01/17/23
5.96 17-Jan-2023 - - - - - 200000 200000 N
AUD BNP PARIBAS
BNP 6 1/4 12/18/23
6.25 18-Dec-2023 - - - - - 200000 200000 N
AUD SOCIETE GENERALE
SOCGEN 3.925 09/20/23
3.925 20-Sep-2023 94.65 - 11.28 - - 200000 200000 N
CNY CITIGROUP GLOBAL MARKETS
C 3.3 05/22/24
3.3 22-May-2024 - - - - - 500000 10000 N
USD STANDARD CHARTERED PLC
STANLN 5.2 01/26/24
5.2 26-Jan-2024 98.6 99.57 6.5 5.59 - 200000 1000 N
USD SOCIETE GENERALE
SOCGEN 5 01/17/24
5 17-Jan-2024 97.86 98.85 7.04 6.09 - 200000 1000 N
USD CITIGROUP INC
C 3.3 04/27/25
3.3 27-Apr-2025 96.79 97.91 4.74 4.23 - 50000 1000 N
USD HSBC HOLDINGS PLC
HSBC 4 1/4 08/18/25
4.25 18-Aug-2025 96.27 97.37 5.76 5.31 - 200000 1000 N
AUD DBS BANK LTD/AUSTRALIA
DBSSP Float 06/16/25
3.652 16-Jun-2025 99.64 100.52 3.8 3.44 - 250000 10000 N
CNY DEUTSCHE BANK AG
DB 3.6615 04/10/25
3.662 10-Apr-2025 96.76 97.86 5.16 4.64 - 1000000 1000000 Y
USD BANK OF AMERICA CORP
BAC 4 1/4 10/22/26
4.25 22-Oct-2026 97.12 98.29 5.08 4.74 - 50000 1000 N
USD HSBC HOLDINGS PLC
HSBC 4 3/8 11/23/26
4.375 23-Nov-2026 96.34 97.67 5.42 5.03 - 200000 1000 N
USD SOCIETE GENERALE
SOCGEN 4 1/4 08/19/26
4.25 19-Aug-2026 92.78 94.22 6.48 6.02 - 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 4.3 02/19/27
4.3 19-Feb-2027 95.99 96.72 5.38 5.18 - 200000 1000 N
AUD SOCIETE GENERALE
SOCGEN 5 1/2 06/02/27
5.5 02-Jun-2027 - - - - - 50000 2000 Y
AUD SOCIETE GENERALE
SOCGEN 5 07/20/28
5 20-Jul-2028 98.88 99.82 5.23 5.03 - 200000 2000 Y
AUD BNP PARIBAS
BNP 5 05/31/28
5 31-May-2028 97.51 101.53 5.53 4.67 - 200000 2000 Y
USD BANGKOK BANK PCL/HK
BBLTB 9.025 03/15/29
9.025 15-Mar-2029 112.84 114.55 6.49 6.18 - 100000 1000 N
GBP STANDARD CHARTERED PLC
STANLN 5 1/8 06/06/34
5.125 06-Jun-2034 95.56 97.32 5.66 5.44 - 100000 1000 N
GBP GOLDMAN SACHS GROUP INC
GS 6 7/8 01/18/38
6.875 18-Jan-2038 111.74 113.7 5.7 5.52 - 50000 1000 N
USD HSBC HOLDINGS PLC
HSBC 5 1/4 03/14/44
5.25 14-Mar-2044 90 92.3 6.09 5.89 - 200000 1000 N
USD STANDARD CHARTERED PLC
STANLN 5.7 03/26/44
5.7 26-Mar-2044 92.61 93.34 6.34 6.27 - 200000 1000 N
USD SOCIETE GENERALE
SOCGEN 7 7/8 PERP
7.875 01-Jan-2299 98.81 100.33 7.97 7.85 - 200000 1000 Y
USD STANDARD CHARTERED PLC
STANLN 7.014 PERP
7.014 01-Jan-2299 90.27 92.57 7.77 7.58 - 100000 100000 Y
USD CREDIT SUISSE GROUP AG
CS 6 1/4 PERP
6.25 01-Jan-2299 78.18 80.34 7.99 7.78 - 200000 1000 Y
USD CREDIT AGRICOLE SA
ACAFP Float PERP
- 01-Jan-2299 - - - - - 100000 1000 Y
US Dollar & Other Currency Bonds
Currency Issuer Coupon
(%)
Maturity
(dd/mm/yyyy)
Bid Offer Yield
(%)
Offer Yield
(%)
Risk Min. Piece Increment Redeem
USD
USD NUOXI CAPITAL LTD
HKJHCC 4.575 04/20/20
4.575 20-Apr-2020 15.69 17.93 - - - 200000 1000 N
USD TSINGHUA UNIC LTD
TSINGH 4 3/4 01/31/21
4.75 31-Jan-2021 34.9 37.57 - - - 200000 1000 N
USD BAIDU INC
BIDU 3 1/2 11/28/22
3.5 28-Nov-2022 99.53 100.47 - - - 200000 1000 N
USD FUTURE DIAMOND LTD
FUTLAN 4 1/4 09/22/22
4.25 22-Sep-2022 - - - - - 200000 1000 N
USD SINOCHEM INT DEV PTE LTD
SININT 3 1/8 07/25/22
3.125 25-Jul-2022 - - - - - 200000 1000 N
USD AGILE GROUP HOLDINGS LTD
AGILE 4.85 08/31/22
4.85 31-Aug-2022 - - - - - 200000 1000 N
USD COUNTRY GARDEN HLDGS
COGARD 4 3/4 07/25/22
4.75 25-Jul-2022 - - - - - 200000 1000 Y
USD NAN FUNG TREASURY LTD
NANFUN 4 1/2 09/20/22
4.5 20-Sep-2022 - - - - - 200000 1000 N
USD HUTCH WHAMPOA INT 12 II
CKHH 3 1/4 11/08/22
3.25 08-Nov-2022 - - - - - 200000 1000 N
USD COUNTRY GARDEN HLDGS
COGARD 4 3/4 09/28/23
4.75 28-Sep-2023 - - - - - 200000 1000 Y
USD SHIMAO GROUP HOLDINGS LT
SHIMAO 3.975 09/16/23
3.975 16-Sep-2023 - - - - - 200000 1000 N
USD MACY'S RETAIL HLDGS LLC
M 4 3/8 09/01/23
4.375 01-Sep-2023 - - - - - 50000 1000 Y
USD BOC AVIATION LTD
BOCAVI 2 3/4 12/02/23
2.75 02-Dec-2023 96.99 97.88 5.96 5 - 200000 1000 N
USD PCCW-HKT CAPITAL NO5 LTD
HKTGHD 3 3/4 03/08/23
3.75 08-Mar-2023 99.3 100.08 6.6 3.39 - 200000 1000 N
USD LI & FUNG LTD
LIFUNG 4 3/8 10/04/24
4.375 04-Oct-2024 92.44 93.98 8.97 7.99 - 200000 1000 Y
USD SOFTBANK GROUP CORP
SOFTBK 4 3/4 09/19/24
4.75 19-Sep-2024 94.82 96.71 7.93 6.74 - 200000 1000 Y
USD NAN FUNG TREASURY LTD
NANFUN 4 7/8 05/29/24
4.875 29-May-2024 97.73 98.69 6.52 5.82 - 200000 1000 N
USD NEW METRO GLOBAL LTD
FTLNHD 4.8 12/15/24
4.8 15-Dec-2024 73.7 78.29 21.58 18.14 - 200000 1000 Y
USD DR PENG HOLDING HONGKONG
CHEDRP 2 1/2 12/01/25
2.5 01-Dec-2025 - - - - - 200000 1000 Y
USD NEW METRO GLOBAL LTD
FTLNHD 4 5/8 10/15/25
4.625 15-Oct-2025 64.66 68.91 21.95 19.32 - 200000 1000 Y
USD LI & FUNG LTD
LIFUNG 4 1/2 08/18/25
4.5 18-Aug-2025 86.67 88.24 10.3 9.56 - 200000 1000 Y
USD BOC AVIATION LTD
BOCAVI 3 1/4 04/29/25
3.25 29-Apr-2025 94.23 95.27 5.88 5.39 - 200000 1000 Y
USD GLP PTE LTD
GLPSP 3 7/8 06/04/25
3.875 04-Jun-2025 78.42 81.59 14.54 12.76 - 200000 1000 N
USD GEELY FINANCE HK LTD
GEELZ 3 03/05/25
3 05-Mar-2025 91.09 92.61 7.39 6.61 - 200000 1000 N
USD VIGOROUS CHAMP INTL LTD
PINGIN 2 3/4 06/02/25
2.75 02-Jun-2025 91.35 92.6 6.59 6.01 - 200000 1000 N
USD HKT CAPITAL NO 2 LTD
HKTGHD 3 5/8 04/02/25
3.625 02-Apr-2025 95.63 96.65 5.67 5.18 - 200000 1000 N
USD HUACHEN ENERGY CO LTD
HCELEC 4.65 12/29/26
4.65 29-Dec-2026 - - - - - 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 2.7 07/12/26
2.7 12-Jul-2026 51.4 53.16 21.43 20.43 - 200000 1000 Y
USD CHINA WATER AFFAIRS GRP
CWAHK 4.85 05/18/26
4.85 18-May-2026 79.73 82.48 12.25 11.12 - 200000 1000 Y
USD SOFTBANK GROUP CORP
SOFTBK 4 07/06/26
4 06-Jul-2026 85.72 87.76 8.74 8.01 - 200000 1000 Y
USD LONGFOR HOLDINGS LTD
LNGFOR 3 3/8 04/13/27
3.375 13-Apr-2027 78.75 81.36 9.45 8.61 - 200000 1000 N
USD ALIBABA GROUP HOLDING
BABA 3.4 12/06/27
3.4 06-Dec-2027 92.67 93.92 5.08 4.78 - 200000 1000 Y
USD INDIA CLEAN ENERGY HLDG
INCLEN 4 1/2 04/18/27
4.5 18-Apr-2027 79.18 81.48 10.59 9.83 - 200000 1000 Y
USD HKT CAPITAL NO 5 LTD
HKTGHD 3 1/4 09/30/29
3.25 30-Sep-2029 88.41 90.12 5.3 4.98 - 200000 1000 N
USD CK HUTCHISON INTL 20 LTD
CKHH 2 1/2 05/08/30
2.5 08-May-2030 85.52 86.96 4.78 4.54 - 200000 1000 Y
USD NAN FUNG TREASURY LTD
NANFUN 3 5/8 08/27/30
3.625 27-Aug-2030 81.56 83.67 6.73 6.33 - 200000 1000 N
USD SHIMAO GROUP HOLDINGS LT
SHIMAO 4.6 07/13/30
4.6 13-Jul-2030 15.18 17.37 43.24 39.45 - 200000 1000 Y
USD COUNTRY GARDEN HLDGS
COGARD 3.3 01/12/31
3.3 12-Jan-2031 43.73 45.91 15.9 15.1 - 200000 1000 Y
USD UKRAINE GOVERNMENT
UKRAIN Float 08/01/41
- 01-Aug-2041 29.07 31.63 - - - 50000 1000 N
USD THREE GORGES FIN I KY
YANTZE 3.2 10/16/49
3.2 16-Oct-2049 73.71 75.84 4.99 4.81 - 200000 1000 Y
USD CK HUTCHISON INTL 20 LTD
CKHH 3 3/8 05/08/50
3.375 08-May-2050 70.36 71.09 5.48 5.41 - 200000 1000 Y
HKD
HKD WHEELOCK FINANCE LIMITED
WHEELK 4.2 09/13/22
4.2 13-Sep-2022 - - - - - 1000000 1000000 N
HKD SWIRE PACIFIC MTN FIN
SWIRE 3 03/22/23
3 22-Mar-2023 99.03 99.81 6.48 3.68 - 1000000 1000000 N
HKD SUN HUNG KAI PROP (CAP)
SUNHUN 2.95 05/08/23
2.95 08-May-2023 98.63 99.48 6.35 4.23 - 1000000 1000000 N
HKD SUN HUNG KAI PROP (CAP)
SUNHUN 3.23 01/10/23
3.23 10-Jan-2023 - - - - - 1000000 1000000 N
HKD MTR CORP CI LTD
MTRC 2 1/4 12/28/24
2.25 28-Dec-2024 94.36 95.36 5.22 4.67 - 1000000 500000 N
HKD HYSAN MTN LTD
HYSAN 2.1 03/17/25
2.1 17/3/2025 - - - - - 1000000 1000000 N
HKD LINK FINANCE CAYMAN 2009
LINREI 2.35 04/09/25
2.35 09-Apr-2025 - - - - - 1000000 500000 N
HKD STANDARD CHARTERED BANK
STANLN 3 1/2 06/13/25
3.5 13/6/2025 - - - - - 1000000 1000000 N
HKD CLP POWER HK FINANCING
CHINLP 3.97 03/23/26
3.97 23-Mar-2026 - - - - - 1000000 1000000 N
HKD CLP POWER HK FINANCING L
CHINLP 3 1/2 11/28/29
3.5 28-Nov-2029 - - - - - 1000000 1000000 N
SGD
SGD WING TAI HOLDINGS
WINGTA 4 1/2 09/26/22
4.5 26-Sep-2022 - - - - - 250000 250000 N
SGD CATHAY PAC MTN FIN HK
CATHAY 3 3/8 01/22/23
3.375 22-Jan-2023 - - - - - 250000 250000 N
SGD ARA ASSET MANAGEMENT LTD
ARASP 4.15 04/23/24
4.15 23-Apr-2024 - - - - - 250000 250000 N
SGD CHANGI AIRPORT GROUP SIN
CHAAIR 1.88 05/12/31
1.88 12-May-2031 82.89 85.49 4.33 3.92 - 250000 250000 N
SGD SINGTEL GROUP TREASURY
STSP 3.3 PERP
3.3 01-Jan-2299 82.45 86.07 4 3.83 - 250000 250000 Y
SGD MAPLETREE INDUSTRIAL TRU
MINTSP 3.15 PERP
3.15 01-Jan-2299 89.31 92.05 3.53 3.42 - 250000 250000 Y
SGD MAPLETREE LOGISTICS TRUS
MLTSP 3.65 PERP
3.65 01-Jan-2299 97.35 99.28 3.75 3.68 - 250000 250000 Y
TRY
TRY EUROPEAN INVESTMENT BANK
EIB 0 09/05/22
- 05-Sep-2022 99.07 100.2 - - - 50000 1000 N
AUD
AUD GENERAL MOTORS FINL CO
GM 3.85 02/21/23
3.85 21-Feb-2023 99.6 100.37 5.83 1.94 - 50000 10000 N
AUD CITIGROUP INC
C 3 3/4 10/27/23
3.75 27-Oct-2023 98.87 99.68 5.07 4.12 - 50000 1000 N
AUD DEUTSCHE BANK AG SYDNEY
DB 3 3/4 01/30/23
3.75 30-Jan-2023 99.47 100.32 7.5 1.42 - 50000 10000 N
AUD BANCO SANTANDER SA
SANTAN 4 01/19/23
4 19-Jan-2023 99.62 100.37 7.42 0.57 - 200000 200000 N
AUD QANTAS AIRWAYS LTD
QANAU 4 3/4 10/12/26
4.75 12-Oct-2026 97.16 98.14 5.58 5.29 - 50000 10000 N
AUD EMIRATES NBD BANK PJSC
EBIUH 4 3/4 02/09/28
4.75 09-Feb-2028 99.25 101.65 4.91 4.39 - 50000 10000 N
AUD QANTAS AIRWAYS LTD
QANAU 2.95 11/27/29
2.95 27-Nov-2029 80.23 81.47 6.53 6.28 - 50000 10000 Y
CNY
CNY MALAYAN BANKING BHD
MAYMK 4.8 10/05/23
4.8 05-Oct-2023 99.65 100.38 5.2 4.28 - 1000000 1000000 N
CNY AGRICUL DEV BANK CHINA
ADBCH 3.05 11/02/26
3.05 02-Nov-2026 99.44 100.71 3.2 2.86 - 1000000 10000 N
NZD
NZD ANZ BANK NEW ZEALAND LTD
ANZNZ 3.7 05/30/23
3.7 30-May-2023 99.02 99.79 5.83 4.15 - 50000 1000 N
NZD ANZ BANK NEW ZEALAND LTD
ANZNZ 3.71 09/01/23
3.71 01-Sep-2023 98.43 99.23 5.94 4.8 - 50000 1000 N
NZD RABOBANK NEDERLAND/NZ
RABOBK 3 3/8 02/02/23
3.375 02-Feb-2023 99.39 100.22 7.43 1.8 - 50000 1000 N
NZD INTL BK RECON & DEVELOP
IBRD 3 02/02/23
3 02-Feb-2023 99.44 100.18 6.84 1.73 - 50000 1000 N
GBP
GBP BHP BILLITON FINANCE LTD
BHP 3 1/4 09/25/24
3.25 25-Sep-2024 98.01 99.08 4.42 3.78 - 100000 1000 N
GBP GENERAL ELECTRIC CO
GE 4 7/8 09/18/37
4.875 18-Sep-2037 90.64 93.36 5.84 5.54 - 50000 1000 N
GBP AMERICAN INTL GROUP
AIG Float 03/15/37
- 15-Mar-2037 - - - - - 50000 50000 Y
GBP VODAFONE GROUP PLC
VOD 3 08/12/56
3 12-Aug-2056 64.98 66.83 5.23 5.07 - 100000 1000 N
EUR
EUR BULGARIA
BGARIA 2 5/8 03/26/27
2.625 26-Mar-2027 97.45 98.91 3.27 2.9 - 100000 1000 N
債券最新報價亦可參考香港金融管理局的輝立証券(香港)有限公司 債券報價網站
本公司以主事人身分行事,並與以上產品的發行人沒有從屬關係。

 

輝立証券(香港)有限公司已採取措施提供準確而可靠的資料,但並不保證資料絕對無誤,及不擬就有關由第三方提供的資料所出現的錯誤或違漏承擔任何責任。 以上所有資料只供參考用途。投資決定在於您本人。除非你完全明白及願意承擔債券的相關風險,否則你不應投資該產品。 債券表現受發行人的實際和預計借貸能力所影響。就償債責任而言,債券不保證發行人不會拖欠債務。在最壞情況下(如發行者不履行契約),債券持有人可能無法取回債券的利息和本金。
債券主要提供中長期的投資,並不是短線投機的工具。你應準備於整段投資期內將資金投資於有關債券上;若你選擇在到期日之前提早出售債券,可能會損失部份或全部的投資本金。
債券的利息和本金是由發行者償還,債券持有人須承擔發行者的信貸風險。如果發行者不履行契約,債券持有人可能無法取回債券的利息和本金。在此情況下,債券持有人不能向本公司追討任何賠償,並與以上產品的發行人沒有從屬關係。

有關債券的風險請查看此連結

01
Open a Phillip foreign stock account with submitting the Risk Profile Questionnaire and W8 form together.
02
Asking for quotes and placing orders through phone or email.*
*Please make sure the account balance is enough for the trade before placing an order. Please state the bond name, coupon rate, maturity date, account number, client name and ISIN code(if any) when placing order through email.
03
Trades will be confirmed full telephone, if the orders are placed by email, confirmation will be made through email as well.
04
Trade confirmation will be sent through email within 24 hours after the trade had done.
05
Amount will be deducted on the third working day (T+3) after the order placed.^
^Please deposit the amount into your Phillip account before T+2 if your account does not have enough balance. If the deposit is made by cashier’s order, please deposit before T+1 and fax us the receipt at 28774554.
債券最新報價亦可參考香港金融管理局的輝立証券(香港)有限公司 債券報價網站
本公司以主事人身分行事,並與以上產品的發行人沒有從屬關係。

 

輝立証券(香港)有限公司已採取措施提供準確而可靠的資料,但並不保證資料絕對無誤,及不擬就有關由第三方提供的資料所出現的錯誤或違漏承擔任何責任。 以上所有資料只供參考用途。投資決定在於您本人。除非你完全明白及願意承擔債券的相關風險,否則你不應投資該產品。 債券表現受發行人的實際和預計借貸能力所影響。就償債責任而言,債券不保證發行人不會拖欠債務。在最壞情況下(如發行者不履行契約),債券持有人可能無法取回債券的利息和本金。
債券主要提供中長期的投資,並不是短線投機的工具。你應準備於整段投資期內將資金投資於有關債券上;若你選擇在到期日之前提早出售債券,可能會損失部份或全部的投資本金。
債券的利息和本金是由發行者償還,債券持有人須承擔發行者的信貸風險。如果發行者不履行契約,債券持有人可能無法取回債券的利息和本金。在此情況下,債券持有人不能向本公司追討任何賠償,並與以上產品的發行人沒有從屬關係。

有關債券的風險請查看此連結

Bond is a debt instrument, the purpose of the issuance of bonds is to raise funds by borrowing from the public. Generally, there are terms for each bonds stating the maturity date which principals will be repaid and the coupon interest payment date.

Government Bond

The bonds issue by state or government in its currency. For example, The US department of the Treasury issues bond s to raise funds for the US government.

Semi-Government Bond

The bonds issue by public corporations, which level is lower than government bonds, but the credit ratings of these two bonds are normally the same. E.g.: The Hong Kong Airport Authority (HKAA), Hong Kong Mortgage Corporation Limited (HKMTGC)

Corporate Bond

Mostly issue by private corporations. E.g.: Hutchison Whampoa Limited

Types

Fixed Rate Bond

Interest rate of this bond is fixed, the rate will not change until maturity.

Zero coupon Bond

Holder of this kind of bonds do not entitle any interest, but usually the price of this kind of bond is discounted and the benefits of investing in this bond can be reflected by its bond price

Floating Rate Bond

This bond has a floating interest rate, which depends on the change in market interest rate. Normally the rate takes reference from market rates like HIBOR and LIBOR.

Features of bonds

Coupon rate

The interest rate that will be paid by the issuer per annum

Maturity date

The date when issuer repay the face value to bondholders, normally at 100%

Remaining Tenor

Remaining time to maturity

Yield

The rate of return of the bond

Credit rating

An indication reflecting the bond issuer's financial status and the bond's credit quality.

債券最新報價亦可參考香港金融管理局的輝立証券(香港)有限公司 債券報價網站
本公司以主事人身分行事,並與以上產品的發行人沒有從屬關係。

 

輝立証券(香港)有限公司已採取措施提供準確而可靠的資料,但並不保證資料絕對無誤,及不擬就有關由第三方提供的資料所出現的錯誤或違漏承擔任何責任。 以上所有資料只供參考用途。投資決定在於您本人。除非你完全明白及願意承擔債券的相關風險,否則你不應投資該產品。 債券表現受發行人的實際和預計借貸能力所影響。就償債責任而言,債券不保證發行人不會拖欠債務。在最壞情況下(如發行者不履行契約),債券持有人可能無法取回債券的利息和本金。
債券主要提供中長期的投資,並不是短線投機的工具。你應準備於整段投資期內將資金投資於有關債券上;若你選擇在到期日之前提早出售債券,可能會損失部份或全部的投資本金。
債券的利息和本金是由發行者償還,債券持有人須承擔發行者的信貸風險。如果發行者不履行契約,債券持有人可能無法取回債券的利息和本金。在此情況下,債券持有人不能向本公司追討任何賠償,並與以上產品的發行人沒有從屬關係。

有關債券的風險請查看此連結

Promotion materials are in Chinese only, please contact (852) 2277 6536 for any enquiry.

For any bond transactions settled in USD, please kindly remit the consideration to the below USD bank account for fund deposit.
• Standard Chartered Bank : 447 – 1 – 073302 – 2 (USD)

For any bond transactions settled in currency other than USD, please kindly remit the consideration to the corresponding bank accounts listed here for fund deposit.

ItemDescription of fees
Bonds Transaction Cost*
Handling Fee 0.15% of Consideration (Except 0.10% of Consideration, for Investment Grade Bond with duration =< 1 Year.)
Custodian Fee 0.05% of nominal value per annum, charged on monthly basis (Minimum HKD25)
Transfer HKD400
Interest Collection & Maturity Redemption Fee Waived
Apply to Transaction of Bonds Listed under Chapter 37 of the Main Board Listing Rules
Transaction Levy 0.0027% of Transaction Amount

*This fee table is not applicable to iBond, Green Bond and Silver Bond.

How to Trade Bonds with us?

If you have a Phillip Account, you can place your order by contacting your broker or the bond department. You can open a Phillip account at any branches if you don't have one yet.

Do the bonds have any margin value?

We've set different margin value for each bonds, which may up to 70%.

What currencies' bond can we trade?

Our foreign exchange service includes HKD, USD, AUD, NZD and GBP.

How to redeem the bonds?

We will help you redeem the bonds when they mature and deposit the total amount into your Phillip account without any charges.

Are there any extra charges beside commission?An accrued interest will be charged. For example, if you buy the bonds of ICBC at the nominal value 1,000,000 at 100.49% and there are 65 days between the settlement day and the last coupon payment day, so at the day of settlement, you have to pay $1,004,900 of principal plus $2617.81 of accrued interest.

A custodian fee will also be charged at 0.05% of the nominal value of the bonds or a minimum charge at HK$25 monthly. For example, the face value of a bond is 1,000,000, a custodian fee of $41.67 (1,000,000*0.05%/12=$41.67) will be charged per month. The custodian fee will be deducted from your Phillip account at the end of each month.

How to benefit from investing bonds?

Bonds provide interest, generally, you can receive a steady interest income every year, also the yield of bonds are normally higher than the bank deposit rate. In addition, you can sell the bond at the market to make a profit when its price rises.

Do I have to hold the bond until it matures?

Besides holding the bond until it matures, you can sell it at the secondary market when its price rises to make a profit.

What is accrued interest?

Besides principals, an accrued interest will also be charged when buying bonds from the secondary market. Accrued interest is the interest of the bonds between the settlement date and the previous coupon interest payment date which should be entitled by the bondholder, therefore the buyers have to pay the sellers an accrued interest when buying the bonds.
Bonds
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