Huarong’s USD 4% perp callable in November 2022 at 100 slipped to 91.33 cents on the dollar yielding 10.06% on Monday following its 4.95% 2047s, which opened lower by 8 points on Monday morning. This comes after the company announced a delay in releasing its annual results due to which a trading halt was put in place late last week. Huarong Finance is rated Baa1 while its parent China Huarong International is rated BBB+ by S&P.

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