并购贷款将迎新规！金融监管总局最新发布

Core Viewpoint - The Financial Regulatory Bureau has released a draft for public consultation on the "Management Measures for Commercial Bank Mergers and Acquisitions Loans," which aims to broaden the scope of acquisition loans and optimize loan conditions to better support corporate financing needs during economic transformation [1][5]. Summary by Sections Expansion of Loan Applicability - The new measures expand the applicability of acquisition loans to include certain equity-based mergers, allowing loans for transactions where the acquiring party obtains at least 20% of the target company's shares in a single transaction, or at least 5% if they already hold 20% or more [2][3]. Loan Terms and Conditions - The maximum loan term for controlling acquisitions has been extended to 10 years, while the term for equity-based acquisitions remains at a maximum of 7 years. The proportion of acquisition loans to the total transaction price is capped at 70% for controlling acquisitions and 60% for equity-based acquisitions, with corresponding equity funding requirements [4][5]. Risk Management and Due Diligence - The measures emphasize the need for banks to assess the repayment capacity of the acquiring party and the future prospects of the merged entity. For controlling acquisitions, the professional team must have at least three years of experience, while for equity-based acquisitions, a minimum of five years is required [6][4]. Differentiated Asset Requirements - The new regulations introduce differentiated asset scale requirements for banks engaging in acquisition loans, mandating a minimum asset balance of 50 billion RMB for general acquisition loans and 100 billion RMB for equity-based acquisition loans [7]. Feedback and Implementation - The public consultation period for the draft measures runs from August 20 to September 20, with the Financial Regulatory Bureau indicating that it will consider feedback to refine and implement the measures to promote healthy development in acquisition loan business [7].