002477SZSE

Temporary Trustee Management Report on Company Bonds (19th Issue of 2019)

Chuying Retreat Co., Ltd.··15 pages

✨ AI Summary

This report outlines the management of the "14 Chuying Bond" by Dongwu Securities. The bond, issued by Chuying Agricultural Group, has a total issuance of 800 million RMB with an interest rate of 8.80%. The report highlights significant financial challenges faced by the company, including a 77.48% drop in revenue and a net loss of over 1.5 billion RMB in the first half of 2019. It also notes the company's ongoing debt issues and credit rating downgrades.

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Full Translation

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Bond Information

Bond Name: Chuying Agricultural Group Co., Ltd. 2014 Company Bond (hereinafter referred to as "this bond" or "14 Chuying Bond"). Approval Document and Approval Scale: Approved by the China Securities Regulatory Commission on December 31, 2013, document number "Zheng Jian Xu Ke [2013] 1671", the company is authorized to publicly issue company bonds with a total face value not exceeding 800 million RMB. Bond Abbreviation and Code: The bond is abbreviated as "14 Chuying Bond" with the code 112209. Issuing Entity: The issuing entity of this bond is Chuying Agricultural Group Co., Ltd. Bond Term: The term of this bond is 5 years (with the issuer's option to adjust the coupon rate at the end of the third year and the investor's put option). Issuance Scale: The total issuance amount of this bond is 800 million RMB, with a remaining bond face value of 797.787 million RMB after deducting bonds repurchased by investors in August 2014. Face Amount and Issuance Price: The face value of this bond is 100 RMB, issued at par. Bond Interest Rate: The coupon rate of this bond is 8.80%. The coupon rate remains fixed for the first three years of its term. If the issuer exercises the option to adjust the coupon rate, the coupon rate for the unredeemed portion of the bond in the last two years of its term will be the original rate plus the adjustment basis points, remaining fixed thereafter; if the issuer does not exercise this option, the coupon rate for the unredeemed portion will remain unchanged.

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