Core Viewpoint - The Philippines is issuing 210 billion pesos in retail bonds to address its budget deficit, with a 6% coupon rate for the 5-year bonds [1] Group 1: Bond Issuance Details - The bond auction received bids exceeding 354 billion pesos, indicating strong demand [1] - The bonds will be available to the public until August 15 [1] - The issuance aims to fill a budget gap and is part of a broader borrowing strategy [1] Group 2: Historical Context and Future Plans - The expected fundraising may not exceed last year's record of 585 billion pesos from similar bonds [1] - Earlier this year, the government raised 300 billion pesos through a large bond issuance [1] - The Finance Secretary indicated that the Philippines may issue large bonds again in 2026, aiming to establish a new liquidity benchmark for institutional investors [1]

来源：金融界 依据《上海证券交易所非公开发行公司债券挂牌规则》等规定，上交所同意马鞍山市花山区城市发展投 资集团有限责任公司2025年面向专业投资者非公开发行公司债券（第一期）（品种一）于2025年8月6日 起在上交所挂牌，并采取点击成交、询价成交、竞买成交、协商成交交易方式。该债券证券简称为"25 花山01"，证券代码为"259559"。 8月5日，上交所发布关于马鞍山市花山区城市发展投资集团有限责任公司2025年面向专业投资者非公开 发行公司债券（第一期）（品种一）挂牌的公告。 ...

Core Insights - The issuance of technology innovation bonds (科创债) has seen significant growth, with over 650 bonds issued nationwide, amounting to nearly 800 billion yuan by the end of July [1] - Suzhou leads in the issuance of technology innovation bonds among provinces, with 15 companies issuing a total of 124.8 million yuan [1] - The expansion of eligible issuers for technology innovation bonds is a notable highlight of the recent market developments [1] Group 1: Policy and Market Developments - The People's Bank of China and the China Securities Regulatory Commission announced 13 measures to support the issuance of technology innovation bonds, focusing on enriching the product system and improving support mechanisms [1] - Following the new policy, various financial institutions, including banks and venture capital firms, have disclosed their plans for issuing technology innovation bonds by 2025 [1] - Suzhou was quick to implement the new policy, with three technology innovation bonds issued shortly after, including a 5 billion yuan bond from Hengli Group, marking the first issuance by a private enterprise in the province post-policy [1] Group 2: Issuance Trends and Financial Implications - Suzhou's private enterprises have a high proportion of convertible bonds issued, with 38 million yuan issued across the province, and 37 million yuan from Suzhou alone [2] - Yuanhe Holdings issued the first batch of technology innovation bonds in the interbank market with a 3-year term and a 1.92% coupon rate, setting a new low for similar bonds [2] - The bond market is becoming a new engine for supporting technology innovation, providing large-scale, low-cost funding without diluting existing shareholders' control [2] Group 3: Innovation Ecosystem in Suzhou - Suzhou has a robust innovation ecosystem, with 76 national-level technology incubators and over 24,300 technology-based SMEs [3] - The city has a reserve of 195 qualified issuers for technology innovation bonds, including 113 technology enterprises and 75 equity investment institutions [3] - The issuance of technology innovation bonds is expected to enhance Suzhou's innovation environment and support the development of a globally influential industrial technology innovation center [3]

Core Viewpoint - Zhaojin Mining (01818) announced the issuance of corporate bonds aimed at professional institutional investors, with a total issuance amount of 1 billion yuan and a coupon rate of 2.99% [1] Group 1: Bond Details - The bonds, referred to as "23 Zhaojin 01," will start paying interest on August 10, 2025, covering the period from August 10, 2024, to August 9, 2025 [1] - Each bond has a face value of 1,000 yuan, with an interest payment of 29.90 yuan (including tax) per bond [1]

Core Points - The Shanghai Stock Exchange announced the listing of Zhaoqing New District Investment Development Group Co., Ltd.'s non-public issuance of corporate bonds for professional investors, set for August 5, 2025 [1][2] - The bonds will be traded under the name "25 Zhaoxin 01" with the security code "259363" and will utilize various trading methods including click transaction, inquiry transaction, competitive bidding, and negotiated transaction [2] Group 1 - The corporate bonds are part of a non-public issuance aimed at professional investors [2] - The bonds are scheduled to be listed on August 5, 2025 [2] - The Shanghai Stock Exchange has approved the listing in accordance with its regulations [2]

2025年8月4日，上海清算所网站披露公告，为保证珠海华发集团有限公司2024年度第十三期中期票据 （债券简称：24华发集团MTN013，债券代码：102483490.IB）付息工作的顺利进行相关事宜发布公 告。该期债券发行金额人民币15亿元，起息日为2024年08月13日，发行期限5年，债项余额人民币15亿 元，最新评级主体评级AAA，债项评级AAA，本计息期债项利率2.68%，利息兑付日为2025年08月13日 （如遇法定节假日或休息日，则顺延至其后的第一个工作日），本期应偿付利息金额4020万元。托管在 银行间市场清算所股份有限公司的债券，其付息兑付资金由发行人在规定时间之前划付至指定收款账户 后，由清算所于付息兑付日划付至债券持有人指定银行账户。 来源：金融界 ...

Core Viewpoint - The announcement details the repayment of the second phase of medium-term notes issued by Lianfa Group Co., Ltd., highlighting the financial specifics and repayment structure of the bonds [1]. Group 1: Bond Details - The bond, referred to as "22 Lianfa Group MTN002," has an issuance amount of RMB 750 million [1]. - The bond's interest rate for the current interest period is set at 3.6% [1]. - The bond has a total repayment amount of RMB 695 million for the put option [1]. Group 2: Issuance and Repayment Structure - The bonds were issued on August 10, 2022, with a term of 3+3 years [1]. - The payment date for interest and the repayment of the put option is scheduled for August 10, 2025 [1]. - The funds for interest payments and the repayment of the put option will be transferred to a designated account at the Shanghai Clearing House before the due date [1].

Group 1 - The company, Tianneng Power (00819), announced plans to broaden its financing channels and optimize its financing structure [1] - Tianneng Co., a subsidiary indirectly owned 86.53% by the company, intends to apply for the registration and issuance of corporate bonds totaling up to RMB 2 billion (including RMB 2 billion) on the Shanghai Stock Exchange's Sci-Tech Innovation Board, with a maximum term of five years from the issuance date [1] - Tianneng Holdings, a wholly-owned subsidiary of the company, plans to apply for the registration and issuance of targeted debt financing instruments totaling up to RMB 2 billion (including RMB 2 billion), with a maximum term of five years from the issuance date [1]

Core Viewpoint - TianNeng Power (00819) aims to expand its financing channels and optimize its financing structure through the issuance of bonds and debt financing tools totaling up to RMB 40 billion [1] Group 1: Bond Issuance - TianNeng Co. proposes to apply for the registration and issuance of corporate bonds with a total principal amount of up to RMB 20 billion, with a maturity of up to five years from the issuance date [1] - The bonds will be issued in one or more tranches to qualified professional investors [1] Group 2: Debt Financing Tools - TianNeng Holdings, a wholly-owned subsidiary of the company, plans to apply for the registration and issuance of targeted debt financing tools with a total principal amount of up to RMB 20 billion, also with a maturity of up to five years from the issuance date [1] - These targeted debt financing tools will be issued in one or more tranches to specific institutional investors in the interbank bond market [1]

依据《上海证券交易所非公开发行公司债券挂牌规则》等规定，上交所同意上饶市滨江投资有限公司 2025年面向专业投资者非公开发行科技创新公司债券（第一期）于2025年8月4日起在上交所挂牌，并采 取点击成交、询价成交、竞买成交、协商成交交易方式。该债券证券简称为"25饶江K1"，证券代码 为"259463"。 8月1日，上交所发布关于上饶市滨江投资有限公司2025年面向专业投资者非公开发行科技创新公司债券 （第一期）挂牌的公告。 来源：金融界 ...