规范国有企业境外债券管理！河南最新发文

Core Viewpoint - The Henan Provincial Government has introduced the "Management Measures for the Issuance of Overseas Bonds by State-owned Enterprises" to regulate the issuance and use of overseas bonds by state-owned enterprises, promote healthy cross-border financing, and effectively prevent foreign debt risks [1][2]. Group 1: General Principles - The measures aim to standardize the issuance and use of overseas bonds by state-owned enterprises, ensuring compliance with relevant laws and regulations [2][3]. - State-owned enterprises are defined as those representing the government in investment responsibilities [2]. Group 2: Issuance Management - State-owned enterprises are responsible for establishing their own management systems for overseas bond issuance, which must include principles, processes, and risk prevention measures [5][6]. - The issuance of overseas bonds must focus on core business and align with national strategies and support for the real economy [4][19]. - A classification decision-making process is established based on the type of investment by the state-owned enterprises [8][19]. Group 3: Fund Utilization - Funds raised from overseas bonds must be included in the annual financial budget and detailed in terms of existing bond situations, annual issuance limits, and repayment plans [9][10]. - The funds should primarily be directed towards major projects, approved overseas investments, and other specified areas [10][23]. - Companies must report the details of bond issuance to the investment authority within 10 working days after fund delivery [18][23]. Group 4: Risk Control - Continuous risk assessment is required, with obligations to report potential risks affecting bond repayment [11][24]. - Commercial banks acting as bond trustees must comply with regulations regarding fund management and reporting [11][24]. - Companies must report on the progress of debt repayment preparations and funding sources at critical milestones [14][24]. Group 5: Incentives and Penalties - The measures encourage the issuance of green bonds and provide benefits for companies with high credit ratings [25][26]. - A dual mechanism of rewards and penalties is established to ensure compliance and accountability among enterprises and their management [25][26].