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Details Of Shanghai'S Pilot Issue Of Local Debt Have Been Finalized &Nbsp; 15 Days Ago Or Started

2011/11/7 12:41:00 26

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Pilot Issue Of Local Debt

"Shanghai City

Launch a pilot project

The main details of issuing local bonds have been basically finalized. The Bank of communications, the Bank of Shanghai and another national bank have been selected as the leading underwriters. The underwriting group of about 20 institutions has also been completed. It is estimated that Shanghai will be pulled out in the first 4 pilot provinces and cities where the local governments issue their own bonds.

the first one

A bond trader of an institution in Shanghai told China Securities Daily (micro-blog) 6 reporters that the scale of the issuance of bonds in Shanghai was 7 billion 100 million yuan, and that the 3 and 5 years accounted for half of the total. It is expected that the issue will be launched before the 15 day.

The trader disclosed that the main underwriter had asked the underwriting group to report the specific demand for bond subscription, and the Holland style single rate bidding method would be adopted.

In terms of the specific distribution, the Shanghai debt will still be issued by the Ministry of finance, which is to collect and repay the principal and interest on behalf of the Ministry of finance. However, Shanghai must pay the Treasury's principal and interest payments to the central financial accounts before the payment date and the repayment date.

Prior to this, the State Council approved Shanghai, Zhejiang, Guangdong and Shenzhen to carry out pilot projects of local governments issuing bonds voluntarily.

The notice issued by the Ministry of Finance on Issuing the pilot scheme for issuing bonds issued by local governments in <2011 in October 20th pointed out that the pilot provinces (cities) could select the leading underwriters in the province's (city) government bond underwriters.

Analysts say this time

Shanghai debt

Two of the 3 leading underwriters of the issue are local commercial banks, which are fully in line with the requirements of the notice.

According to the news, the scale of self financing bonds in Guangdong province is 7 billion 300 million yuan, with a term of 3 years and 5 years.

According to the latest statement of the Guangdong provincial finance department, Guangdong plans to choose the best opportunity to complete the issuance of bonds by the end of November.

As for Zhejiang and Shenzhen, the timetable for debt issuance is not yet more specific.

The traders said that after confirmation by a number of agencies, Shanghai is expected to win the lead of the local government issuing its own bonds.