The State Council Approved The Four Line Refinancing Scale Of 287 Billion

The refinancing scale of four major industries, including industry, construction, China and China, has finally come to a conclusion.

The daily economic news reporter recently learned from authoritative sources that the State Council has agreed that the total refinancing scale of the four large listed banks is 287 billion yuan.

Reporters also learned that although some bank financing schemes may change, the scale of banks' refinancing will not change.

It is reported that the refinancing problem of large commercial banks has been highly valued by the State Council.

At the beginning of this year, the State Council held a special meeting on capital replenish for large commercial banks in 2010.

Since then, the CBRC has held a symposium on refinancing large banks, and the scale of refinancing has been strictly measured by banks.

The State Council requires that in accordance with the principle of "raising A shares, limiting credit constraints, increasing the number of H-shares, solving the problem of innovative tools and increasing the number of old shareholders", we should properly solve the problem of refinancing of big banks, and require four banks to carry out specific data calculation according to the 5 prerequisites, such as the quantity of loans, the reduction of cash dividend rate, the maintenance of state holding status, the capital adequacy ratio not less than the minimum standard, and the ability to bear capital market.

After four banks reported the amount of refinancing, the State Council approved ICBC (601398, stock bar), China Construction Bank, Bank of China (601988, stock bar) and bank refinancing totaled 287 billion yuan.

The scale of banks' refinancing is also coming out.

The Bank of Communications (601328, stock bar) announced that it would raise 42 billion yuan in the "A+H" rights issue in the two places; the Construction Bank announced that the refinancing scale would not exceed 75 billion yuan; the Bank of China and ICBC had not announced their respective refinancing scale, but according to the total size of 287 billion yuan, the total refinancing scale of the bank and ICBC amounted to 170 billion yuan.

According to the relevant sources, the bank's refinancing scale is 100 billion yuan, and ICBC's refinancing scale is 70 billion yuan.

As ICBC and China bank's current options are "A shares convertible bonds + H shares allotment", the Bank of China issues convertible bonds 40 billion yuan, ICBC issues convertible bonds 25 billion yuan, and accordingly calculates that if the Bank of China and ICBC's refinancing schemes remain unchanged, the two banks will refinance 105 billion yuan from the Hongkong market.

The limit of refinancing scale remains unchanged.

Before the final implementation of the scheme, some banks' refinancing schemes may change, but they are all within the scale of the refinancing approved by the State Council.

Taking CCB as an example, CCB's refinancing has been contrasted and demonstrated by a number of schemes. The initial plan is to raise A shares by private equity issuance by 45 billion yuan, and to raise 30 billion yuan by lightning placement of H-shares. However, the "A+H" option is currently allocated at the same time, with no more than 0.7 shares allotted according to the existing shares of every 10 shares.

A and H-share can not be more than 630 million shares, 15 billion 700 million shares, and A shares and H shares share the same proportion, the total amount of financing is not more than 75 billion yuan.

When the CCB refinancing scheme changes, its refinancing scale is always limited to 75 billion yuan.

Therefore, even if the ICBC and the Bank of China plan change, the total financing scale will not change.

It is reported that when discussing the refinancing schemes of various banks, the holding status of state shareholders has always been concerned.

In overseas financing, the rights issue is the only way of financing that does not need to reduce state-owned shares. Therefore, banks are considering the possibility of issuing shares in order to maintain the status of state-owned shareholders.

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