Shenzhen Stock Exchange Issues Listing Rules For Corporate Bonds

Shenzhen Stock Exchange yesterday released the Interim Provisions on the Listing of Corporate Bonds, effective immediately.

According to the Interim Provisions, the corporate bonds eligible for listing application shall have a minimum one-year term and an actual amount of no less than 50 million yuan, and be rated by a certified ratings agency. At least one or two qualified sponsors shall present a listing sponsor letter before application for bonds listing.

Moreover, the Interim Provisions require corporate bond issuers disclose regular and provisional reports, including annual reports and interim reports, and specify that the rating report on listed corporate bonds offered by ratings agencies has a validity term of 12 months, after which a new rating report shall be presented.

In addition, the Shenzhen bourse also laid out regulations on trading suspension and resumption and disciplinary measures to rule breakers.