1. What is dollar debt?
American debt refers to the national debt issued by the United States, which is one of what we call national debt. U.S. debt is usually issued by the U.S. government at regular auctions. Because it is presided over by the U.S. Treasury Department, it is also called "Treasury bill". US Treasury bills have different maturities. At least 4 weeks, that is, about a month. The longest is the 30-year national debt, and there are also 5-year and 10-year national debt.
2. US dollar bonds are generally issued overseas.
1. The issuer first provides information to the credit rating companies in the United States in order to investigate and formulate the issuer's bond credit rating. At the same time, the issuer must formally submit the draft registration document to the US Government Securities and Exchange Commission.
2. The bond issuer completes the work of submitting the registration documents to the US Securities and Exchange Commission. At the same time, credit rating companies have also completed the adjustment work and put forward preliminary opinions on bond credit rating. If the issuer has no objection to this, the rating opinion of the formal credit rating is established. If the issuer does not accept it, it will consider issuing it indefinitely.
3. After receiving the registration documents submitted by the bond issuer, the Securities and Exchange Commission of the United States Government shall examine them and issue an evaluation on the documents after examination. The bond issuer shall reply to the questions raised in the evaluation book.
4. The bond issuer shall complete the revision of the registration documents according to the opinions put forward by the CSRC in the evaluation.
5. The bond issuer shall choose a management underwriter, who shall organize an underwriting syndicate to be responsible for underwriting and related work. The lead underwriter put forward a preliminary plan for issuing bonds and solicited opinions extensively to meet the needs of bond issuers and bond investors.
6. Officially issue bonds in the bond market.
China dollar bonds are registered with the National Development and Reform Commission, and the whole issuance process takes about 6- 10 weeks. Renminbi bonds need to be approved by the CSRC /NDRC/ CBRC/central bank and other departments, and the time is relatively slow.