The issuance of short-term bonds and medium-term notes requires the employment of underwriters, law firms, accounting firms and credit rating companies.
Article 15 of the Rules on Intermediary Service of Debt Financing Instruments for Non-financial Enterprises in the Inter-bank Bond Market stipulates: "Law firms shall issue legal opinions and lawyers' work reports on the basis of full due diligence. The legal opinions shall at least include opinions on the issuer, the issuance procedures, the legality of the issued documents, major legal issues and potential legal risks. "
Enterprises that issue medium-term notes should first register with the Association of Interbank Dealers.
The enterprise will send the registration documents to the office of the Registration Committee of the Dealers Association through the lead underwriter. The registration documents include: (|) temporary bill registration report (attached with the resolution of the competent authority stipulated in the articles of association); (2) Letter of recommendation from the lead underwriter and letter of commitment from relevant intermediaries; (3) Documents to be disclosed when the enterprise issues medium-term notes; (4) Other documents that prove the truthfulness, accuracy, completeness and timely disclosure of the information of the enterprise and relevant intermediaries.