Corporate bonds are filed.
Before the promulgation of the new Securities Law, only non-financial corporate debt financing instruments were issued by registration system, while corporate bonds and corporate bonds were issued by audit or filing system.
The Securities Law passed on February 20 19 stipulates that "the public offering of securities must meet the conditions stipulated by laws and administrative regulations, and shall be reported to the the State Council Securities Regulatory Authority or the department authorized by the State Council for registration according to law."
As a result, the issuance methods of corporate bonds and corporate bonds have also been changed to the registration system, and the issuance methods of various varieties are unified.
How does the company issue private debt?
Private debt issuance process:
1. Company resolution: To apply for the issuance of private placement bond, the issuer's board of directors shall formulate a plan, and the shareholders' meeting or general meeting shall make resolutions on the following matters.
2. Due diligence: The issuance of private placement bond shall be underwritten by a securities company.
3. Filing and issuance: The Exchange shall review the integrity of the filing materials.
4. Service transfer: private placement bond transfers services in cash or other ways recognized by the Exchange (recognized by the CSRC), and qualified investors can transfer private placement bond through the comprehensive agreement trading platform of the Exchange or through securities companies.