According to the reporter of china securities journal CSI Jinniu, since the publication of the Notice on Doing a Good Job in Financial Services for the Merger and Reorganization of Risk Disposal Projects of Key Real Estate Enterprises, many banks, such as Shanghai Pudong Development Bank, China Merchants Bank and Guangfa Bank, have indicated that they will provide financing support for real estate mergers and acquisitions, including M&A theme bonds, M&A loans, M&A funds and asset securitization. It is estimated that the total amount of financing support for mergers and acquisitions will exceed 30 billion yuan.
Provide diversified M&A financing support.
Recently, Guangfa Bank said that it plans to issue 5 billion yuan M&A theme bonds for real estate projects in the near future, and the funds raised will be used for M&A loans for real estate projects.
The first bank to issue M&A theme bonds for real estate projects was Shanghai Pudong Development Bank. On June 5438+1October 2 1 day, Shanghai Pudong Development Bank bookkeeping issued M&A theme bonds for real estate projects (22 Shanghai Pudong Development Bank 02), with a bond scale of 5 billion yuan and a term of 3 years.
Commercial banks can provide M&A financing in many ways. 65438+1On October 25th, China Resources Land and its Vientiane Life Insurance respectively signed the M&A Financing Strategic Cooperation Agreement with China Merchants Bank in Shenzhen. According to the agreement, China Merchants Bank will inject 20 billion yuan into China Resources Land and 3 billion yuan into China Resources Vientiane Life respectively, which will be used for M&A business of China Resources Land and China Resources Vientiane Life respectively. Business types include but are not limited to M&A loans, M&A funds, asset securitization and various innovative financing products based on M&A-related business needs.
654381October 26th, China Construction Bank took the lead in underwriting the first batch of M&A bills of real estate enterprises in China-China Merchants Shekou Industrial Zone Holdings Co., Ltd. and Jianfa Real Estate Group Co., Ltd. successfully issued and paid the first batch of M&A bills in 2022.
It is understood that China Merchants Shekou * * * issued M&A bills of 654.38+0.29 billion yuan, and all the funds raised were used for the real estate project M&A, helping the real estate projects under construction with high capital demand to be successfully completed. Jianfa Real Estate * * * issued 654.38 billion yuan of M&A bills, of which 460 million yuan was used to acquire the equity of two target real estate project companies.
M&A projects will continue to increase.
The enthusiasm of real estate enterprises for M&A is frequent, which is related to the Notice on Doing a Good Job in Financial Services for M&A Risk Disposal Projects of Key Real Estate Enterprises jointly issued by the Central Bank and the China Banking Regulatory Commission in February 20021. The circular clearly supports high-quality real estate enterprises to register and issue debt financing instruments in the inter-bank market, so as to finance mergers and acquisitions of key real estate enterprises' risk disposal projects.
According to informed sources, the central bank held relevant meetings with SASAC and CBRC respectively. On the one hand, encourage large private enterprises, central enterprises and state-owned enterprises to acquire high-quality projects of real estate enterprises in danger and difficulties; On the other hand, it is hoped that large banks and joint-stock banks can actively provide M&A loans to acquirers, and at the same time, they should not lend or cut off supply to risky and difficult real estate enterprises.
In addition to banks, AMC is expected to participate in M&A real estate financing projects in the future. Recently, the reporter learned that the financial management department recently convened a meeting of several national asset management companies (AMC) to study asset management companies' participation in asset disposal, project mergers and acquisitions and related financial intermediary services of entrepreneurial real estate enterprises in accordance with the principles of marketization and rule of law.
According to industry insiders, M&A between housing enterprises can not only revitalize the assets of out-of-danger housing enterprises, but also introduce qualified partners for the project, which is conducive to the follow-up financing and sales at the project level and is an important means for the market to resolve risks. The current policy tends to support high-quality housing enterprises to acquire high-quality projects of large-scale housing enterprises in danger. It is expected that mergers and acquisitions led by central enterprises will continue to increase.