Financial Market Department of the People's Bank of China, Circular on Launching a Pilot Project for the Offering of Financial Bonds by Flexible Tender
中国人民银行金融市场司关于试点开展金融债券弹性招标发行的通知
August 29, 2018 | BY
Susan MokThe size of financial bond offerings may be revised.
Issued: August 9 2018
Effective: as of date of issuance
Applicability: For the purposes of the Circular, the term “offering by flexible tender” means that, when a financial institution offers financial bonds on the bank bond market by tender, it has the right to dynamically revise the ultimate size of the bond offering based on the rules set by it in advance (Article 1).
Main contents: During the pilot period, offering by flexible tender will provisionally apply to the offering of development-type and policy-type financial bonds. The Financial Market Department of the People's Bank of China may gradually expand the scope of the pilot project depending on the results of the pilot (Article 2).
During the pilot stage, the flexible revision of the size of an offering of a single series of financial bonds may not exceed 50% of the initial offering size (Article 6).
Related legislation: Measures for the Administration of Issuance of Financial Bonds in the National Interbank Bond Market, 2005; Operational Rules for the Administration of Issuance of Financial Bonds in the National Interbank Bond Market, 2009 and Rules for the Administration of the Offering of Bonds by Tender in the National Interbank Bond Market, 2011
clp reference:3700/18.08.09 issued:2018-08-09 effective:2018-08-09This premium content is reserved for
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