EVENTS:   Best Equity Short Ideas Conference Call 12 - Zach Shannon/Corto Capital Advisors & Craig Huber/Huber Research Partners & Thomas Beevers /Forensic Alpha & Ed Steele/Iron Blue Financials & Bill Campbell/Paragon Intel - 12 Nov 25   Will AI Deflate the World? Macro Lessons from Three Industrial Revolutions and China - Manoj Pradhan/Talking Heads Macro - 13 Nov 25     ROADSHOWS: Forest Products Sector Equity and Commodity Research With Expertise in Distressed Debt - Kevin Mason /ERA Research   •   London   12 - 14 Nov 25       Buyside to Buyside Forum and Expert Calls across TMT, Consumer, Healthcare and Fintech - Andrew Peters /Revelare Partners   •   London   17 - 19 Nov 25       Fundamental US Healthcare Short Ideas - Dr Elliot Favus /Favus Institutional Research   •   London   17 - 19 Nov 25      

Fortnightly Publication Highlighting Latest Insights From IRF Providers

Company Research

Country Gardens (2007 HK; Baa3/BB+/BBB-) & Logan Group (3380 HK; Ba2/BB/BB)

Real Estate

BlackRobin Group

Hong Kong property developer Country Gardens and Logan Group both tapped the convertible bond market during the week leading to the New Chinese Lunar Year with 4-year USD 500m and USD 250m equivalent issues, aiming to refinance offshore debt. These partial refinancings may pave the way for more equity-linked issues and invite investors to re-consider the battered property market as the PBOC ease monetary conditions and revisit access to liquidity.

Edition: 128

- 04 February, 2022