Shenzhen to let small firms issue exchangeable bonds

The Shenzhen Stock Exchange (SSE) has issued a document to the market giving details of a trial programme to allow small- to medium-sized enterprises (SMEs) to issue private exchangeable bonds, IFR reported late on Monday.

According to the May 31 document which IFR obtained, eligible potential issuers are unlisted small Chinese companies, excluding real-estate and financial entities.

The rules include restrictions on the rates that the new instrument can pay, added IFR, a Thomson Reuters publication.

via Business feed http://www.scmp.com/business/banking-finance/article/1253172/shenzhen-let-small-firms-issue-exchangeable-bonds