Legal analysis: Non-public corporate bonds are supervised by the exchange and filed with the Securities Industry Association. There is no need to publicly disclose information or submit it to the CSRC for approval. Therefore, after the issuer successfully issues private placement bond, the open market can only find out the key elements of the debt, such as the issuer's name, underwriter, issuance scale, term, coupon rate, etc., and the issuer does not need to disclose relevant information to the open market in the whole process. Corporate bonds are a kind of bonds issued according to legal procedures. There are many kinds of corporate bonds, which can be divided into public offering and non-public offering according to the way of issuance. Non-public issuance of bonds, as the name implies, refers to bonds that are not publicly issued to the public.
Legal basis: Article 8 of the Measures for the Administration of Filing Non-public Issuance of Bonds shall include but not be limited to the following contents:
(1) Relevant information of the issuer;
(2) Information on bond issuance.
(3) Relevant information of the intermediary institution;
(4) The relevant arrangements for the protection of bondholders.
(five) the underwriting institution or the issuer's own sales information content.
A true, accurate and complete commitment; Underwriting institution or self-selling issuer
Commitment that the bond sales of non-public offering companies meet the requirements of appropriateness; Act as a sales agent
The institution undertakes the commitment to meet the negative list items.