Daily Brief Credit: AAC Technologies – ESG Report – Lucror Analytics and more

AAC Technologies Holdings Inc is a China-based company formed in 1993 and incorporated in the Cayman Islands. It was listed on the Hong Kong Stock Exchange in 2005. AAC is one of the world’s leading solution providers for smart devices, with: [1] cutting-edge technologies in materials research; and [2] simulation, algorithm, design, automation and process development in areas including acoustics, optics, as well as electromagnetic drives and precision mechanics. The company also offers advanced miniaturised and proprietary technology solutions.

• This morning, China Hongqiao held a roadshow to market USD benchmark-sized three-year RegS bonds.
• The expected issuance size is USD 300-400 mn (capped at USD 400 mn).
• The order book is reported at USD 2 bn (including USD 395 mn interest from the 15 joint global coordinators).

• In today’s Morning Views publication we comment on developments of the following high yield issuers: China Vanke, Vedanta Resources
• Last Friday in the US, the ISM manufacturing index climbed to 49.3 in December (48.2 e / 48.4 p).
• This was supported by an increase in the prices paid and new orders components, which offset a decrease in the employment component. Separately, the final manufacturing PMI edged up to 49.4 in the month (48.3 e / 48.3 p).