
| Issuing entity | Mainly Chinese-funded enterprises, including domestic financial institutions, state-owned enterprises (platform companies and SOEs), and leading private enterprises. |
| invoicing currency |
Overseas bonds can be categorized into offshore RMB bonds and offshore foreign currency bonds by currency of denomination.
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| International Rating |
There is no mandatory requirement. Generally, issuers decide whether to engage international rating agencies based on whether the debt can achieve investment grade.
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| bond duration |
US Dollar Bonds:
RMB Bonds:
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| Issuance Interest Rate | Determined through negotiation between the issuer and the lead underwriter based on bookbuilding indications. Either fixed or floating rate is available. |
| IPO | Domestic institutions issuing bonds overseas are mainly listed in Hong Kong. The Singapore Exchange is also a major listing venue for such overseas issuances. |
| Issuance scale |
Not restricted by financial indicators such as net assets. Generally determined by the issuer’s credit profile, credit enhancement and investor acceptance.
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| Purpose of Funds | In accordance with the purpose approved and filed by the NDRC (if applicable). |