中國銀行間市場交易商協會:提高註冊發行效率 熊貓債機制持續優化
據《中國證券報》報道,中國銀行間市場交易商協會昨發布《關於開展熊貓債註冊發行機制優化試點的通知》,進一步擴大債券市場高水平對外開放,推動熊貓債市場高質素發展。業內專家認為,此舉將更好滿足市場需求,促進熊貓債市場發展,進一步活躍跨境投融資、擴大人民幣使用,提高金融市場開放水平。
此次優化舉措可從四方面提高註冊發行效率:一是允許更多境外發行人獲得「多品種統一註冊(DFI)」便利。將熊貓債DFI適用範圍擴大至境外基礎層企業,在DFI機制下,境外發行人對於發行品種、規模、期限、主承銷商等選擇靈活性更大,可大幅降低重復註冊的工作量和成本。
二是統一境外企業信息披露要求。允許境外基礎層企業使用境外成熟層企業募集說明書表格,實現不同類型境外企業信息披露標準的統一,加強與國際標準的接軌。三是對特定國際發行人試點「增發機制」。滿足國際開發機構、外國政府類機構對於提升二級流動性的需求,以此前協會發布的相關業務問答為基礎,試點開展債券增發機制;四是為熊貓債引入常發行計劃。借鑒歐洲中期票據計劃(EMTN program)和協會債務融資工具的常發行計劃(FIP),優化熊貓債募集說明書編制。
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