事关商业银行并购贷款 拟提高贷款比例上限并延长最长期限

Core Viewpoint - The National Financial Regulatory Administration has revised the "Guidelines for Risk Management of Mergers and Acquisitions Loans by Commercial Banks" to enhance the support for mergers and acquisitions, aiming to optimize the financial services for the modern industrial system and new productive forces development [1][3]. Group 1: Regulatory Changes - The revised "Mergers and Acquisitions Loan Management Measures (Draft for Comments)" consists of 33 articles, focusing on expanding the applicable scope of acquisition loans to include certain equity acquisitions [3]. - The new measures introduce differentiated operational qualifications for commercial banks engaging in controlling and equity acquisitions, based on regulatory ratings and key prudential indicators [3]. - The loan conditions have been optimized, increasing the upper limit of acquisition loans as a percentage of the transaction price and extending the maximum loan term to better meet reasonable financing needs [3]. Group 2: Loan Proportions and Terms - The guidelines specify that for controlling acquisitions, the loan proportion cannot exceed 70% of the transaction price, with equity funding required to be at least 30% [4]. - For equity acquisitions, the loan proportion is capped at 60%, with a minimum equity funding requirement of 40% [4]. - The maximum loan term for controlling acquisitions is set at ten years, while for equity acquisitions, it is limited to seven years [4].