According to Article 37 of the Measures for the Administration of Issuance and Trading of Corporate Bonds, the price or interest rate of public issuance of corporate bonds shall be determined by market-oriented methods such as inquiry or public bidding. The issuer and the lead underwriter shall negotiate to determine the pricing and placement plan of this public offering and make an announcement, and clearly define the principles of determining the price or interest rate, the pricing process of the offering and the placement rules.
Issuers and underwriting institutions shall not manipulate the issuance pricing or black-box operation; Do not seek illegitimate interests or transfer interests to other relevant stakeholders through entrustment or trust; Not directly or through its stakeholders to provide financial assistance to investors participating in the subscription; There shall be no other acts that violate fair competition and disrupt market order.
Extended data:
Relevant requirements for bond investment stipulate:
1. Issuers, underwriting institutions and their relevant staff shall not violate fair competition, transfer interests, directly or indirectly seek illegitimate interests or disrupt market order in the process of offering pricing and placing.
2. Corporate bonds issued by listed companies and unlisted public companies whose shares are publicly transferred may be accompanied by stock options and convertible into related stocks.
3. Shareholders of listed companies and unlisted public companies who have publicly transferred their shares may issue corporate bonds with clauses that can be converted into shares of listed companies or unlisted public companies. Commercial banks and other financial institutions may issue corporate bonds with write-down clauses in accordance with relevant regulations.
Zhumadian municipal government financial network-measures for the administration of corporate bond issuance and transaction