Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

High Yield Experts

Credit Analyst, Lucror Analytics

Chuanyi Zhou

Credit Analyst

Debt Capital Markets

Zheneng Jinjiang Environment / Debt Capital Markets

China Jinjiang Environment (CJE) has priced its first time USD Notes. The size of the issuance is USD 200 mn due 2020. The coupon is at 6% and offered at 99.326, implying yield of 6.25% (IPT 6.5%). The Notes will be guaranteed by subsidiary guarantors. The company intends to use the proceeds for development of overseas waste-to-energy (WTE) projects. The company is rated Ba2/BB by Moody’s and S&P, respectively, with stable outlooks. The banker is MS. CJE is a WTE operator in China, with the largest waste treatment capacity. The company has an operating history of 18 years, and has been listed in SGX since August 2016. We view the current pricing of 6.25% as rich, given the event risk and oversea expansion plan.

China Jinjiang Environment (CJE) has priced its first time USD Notes. The size of the issuance is USD 200 mn due 2020. The coupon is at 6% and offered at 99.326, implying yield of 6.25% (IPT 6.5%). The Notes will be guaranteed by subsidiary guarantors. The company intends to use the proceeds for development of overseas waste-to-energy (WTE) projects. The company is rated Ba2/BB by Moody’s and S&P, respectively, with stable outlooks. The banker is MS. CJE is a WTE operator in China, with the largest waste treatment capacity. The company has an operating history of 18 years, and has been listed in SGX since August 2016.  We view the current pricing of 6.25% as rich, given the event risk and oversea expansion plan. 

China Jinjiang - New Issue Snapshot - Lucror Analytics