Announcement: Notice of Standardized Operation of Corporate Bond Issuers
2018-11-14
In recent years, the Party Central Committee and the State Council have attached great importance to the development of the financial market. The scale of the corporate bond market has been continuously expanded and its operation has been continuously standardized, which has played an important role in China to improve the social financing structure and support the development of the real economy. The issuers of corporate bonds seized the opportunity to actively raise funds and obtain funds to promote their own development and growth. In order to further promote the healthy and sustainable development of the bond market and to maintain a good public image of the bond industry, we have sorted out the important obligations of bond issuers and made the following notification:
1. perform information disclosure obligations in accordance with regulations
1. Disclose the annual report of the previous year before April 30 of each year, and disclose the semi-annual report of the first half of the year before August 31;
2. In the event of major events that may affect solvency or bond prices, timely disclosure of interim reports in accordance with the Measures for the Administration of Corporate Bond Issuance and Trading and the relevant provisions of bond trading venues;
3. Ensure that the disclosed information is true, accurate and complete, and that there are no false records, misleading statements or material omissions;
4. The relevant information shall be disclosed at the bond trading venue and in other ways approved by the bond trading venue, and the time of disclosure shall not be later than the time of public disclosure in other trading venues, media or other occasions;
5. Develop an information disclosure management system and designate a person to be responsible for matters related to information disclosure.
2. Compliance Use of Corporate Bonds to Raise Funds
1. The funds raised from the public issuance of corporate bonds shall be used for the approved purposes and shall not be used to cover losses and non-productive expenses;
2. The proceeds from the non-public issuance of corporate bonds are used for the agreed purposes;
3. Except for financial enterprises, the funds raised shall not be lent to others; the company shall designate a special account for the receipt, storage, transfer and principal and interest payment of the funds raised by the company's bonds;
4. The special account for raised funds shall not deposit non-raised funds or use them for other purposes.
3. effectively comply with the relevant agreements and commitments of the prospectus.
The proceeds will not be used for local government financing platforms, and no new non-operating current loans will be added during the duration of the bonds (subject to the actual commitment).
The 4. cooperates with the trustee to convene a meeting of bondholders in a timely manner.
The circumstances, procedures and public matters of the bondholders' meeting will be handled in accordance with the "Administrative Measures for the Issuance and Trading of Corporate Bonds", the relevant rules of the trading venue and the prospectus.
The 5. completes the interest payment, resale and payment of bonds as required and agreed.
1. Disclose interest payment, resale, principal payment and other announcements on time, and complete the application and payment to China Clearing Corporation before the specified date;
2. In the event of failure to repay the principal and interest on time or other major risks, the relevant bonds shall be suspended in a timely manner and resumed after the relevant circumstances have been eliminated.
The 6. shall accept the supervision of the securities regulatory authority under the State Council and relevant self-regulatory organizations in accordance with the provisions, and cooperate with the regulatory authorities and their staff in exercising their powers of supervision, inspection and investigation in accordance with the law.
December 2017
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