The reporter learned from the Foshan Financial Work Bureau yesterday that “Foshan City's 2011 First SME Regional Collective Notes†has been approved by the China Association of Inter-bank Dealers and has been announced on the China Money Network.
It is reported that the first issue of the joint issue of outstanding bonds and a total of 7 companies, the issue amount of 359 million yuan, will be officially issued next week. According to the relevant person in charge of the Foshan Financial Bureau, this means that Foshan has become the first city in China to issue SME collection notes through regional privilege models.
According to the “Foshan City First-Aid SME Regional Collective Notes Issuance Announcement†published by China Money Network, the seven companies jointly issued are Guangdong Foshan Pump Factory Co., Ltd., Guangdong Jinyi Ceramics Co., Ltd., Guangdong. Xinjingang Superhard Materials Co. , Ltd. , Foshan Ou Shennuo Ceramics Co., Ltd., Foshan Tianan Plastic Co., Ltd., Foshan Sinotrans Warehouse Code Co., Ltd. and Foshan Huasheng Chemical Co., Ltd.
It is reported that the municipal government not only leads the organization, but also funds the establishment of a direct debt financing development fund for SMEs with a fund size of 100 million yuan, and promises to provide subsidies every year according to 2% of the issued amount.
"Foshan City, the first phase of the 2011 SME Regional Collective Notes Recruitment Manual" shows that the highest amount of funds raised among the seven joint issuers is Jinyi Ceramics, which amounts to 100 million yuan. The least is the new Jin Gang just super hard material, only 24 million yuan.
Among them, 5 companies will allocate up to 60% of the funds raised to repay bank loans. Only Foshan Pump Factory and Huasheng Chemical will use 100% of their funds to supplement working capital.
Dagong International Credit Rating Co., Ltd. also carried out credit ratings for seven issuers. Foshan Pump Factory, Jinyi Ceramics and Foshan Sinotrans received the highest BBB+ of the seven companies.
â– Noun explanation
Collection ticket
Refers to enterprises with legal person qualifications of 2 or more and 10 or less, which are jointly issued in the inter-bank bond market by unified product design, unified bond type title, unified credit promotion, and unified issuance registration. A debt financing instrument that pays off interest and expenses for a certain period of time.
Regional collection
Refers to the regional pooled debt financing model. Specifically, it refers to the local government authorities and the branches of the People's Bank of China to jointly select various types of local enterprises that meet the requirements. The China Bond Credit Promotion Investment Co., Ltd., the joint commercial bank, the local guarantee company and others Intermediaries provide tailor-made debt financing services for enterprises and provide business models for full-line financial value-added services. Through regional optimisation, we will comprehensively explore the direct debt financing situation of local enterprises, especially small and medium-sized enterprises, and allocate capital resources for local economic development.
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