1. Specific information disclosure arrangements for real estate business;
2, the source of debt repayment funds, the feasibility of debt repayment arrangements;
3. Credit measures such as mortgage and pledge;
4, the terms of the investor protection contract;
5. Explain the proportion of real estate business in non-first-and second-tier cities. If it exceeds 50%, the lead underwriter shall issue special verification opinions on the business development of the issuer in non-first-and second-tier cities, and the trustee shall improve the continuous information disclosure arrangements for the business development of non-first-and second-tier cities during the bond duration.
6. Agree to the continuous information disclosure arrangements for the commitment period, risk warning and periodic and interim reports of major events in future tests and prospectuses.
According to the supervision letter of 5438+ 10 in June last year, real estate enterprises that issue corporate bonds need to meet certain basic conditions, and unlisted private enterprises are limited in scale. Domestic listed companies, real estate central enterprises, qualified local government-owned real estate enterprises, or other private unlisted real estate enterprises ranked before 100 by China Real Estate Association can issue bonds only if they meet one of them.
In addition, the total assets are 20 billion, the revenue is 3 billion, the net profit is 65%, and the first-and second-tier land reserves account for 50%. These classified indicators push some small and medium-sized housing enterprises out of corporate debt.
Zhang Hongwei, research director of Tongce Consulting, believes that the financing channels of domestic housing enterprises will be tightened this year, and more housing enterprises will turn their financing needs overseas in the future, but the threshold is not accessible to small enterprises.