The process of treasury bond issuance mainly consists of the following 10 main steps:
1.* Decided to issue government bonds. **It is necessary to determine the key elements such as the size, maturity and interest rate of the treasury bonds to be issued, and formulate the corresponding policy documents.
2.The Ministry of Finance issued an announcement. The Ministry of Finance will issue an announcement on the issuance of treasury bonds through ** or official channels, including the name of the bond, the size of the bond, the maturity, the interest rate and other information.
3.Underwriter bidding. The underwriter is a financial institution responsible for the sale of treasury bonds, and they will submit bids to purchase the right to issue treasury bonds within a specified time.
4.Determine the winning underwriter. Based on the bids of the underwriters, the Ministry of Finance will determine the final list of underwriters and issue an underwriting agreement to them.
5.The underwriter conducts the marketing promotion. The underwriter will be responsible for the sale of the Treasury bonds in accordance with the terms of the agreement, including educating investors about the advantages and risks of the Treasury bonds, and organizing subscription activities.
6.Investor subscription. After the end of the underwriting period, investors can choose whether to participate in the subscription of treasury bonds according to their own needs and conditions. The subscription method can be a direct purchase or an investment through ** and other means.
7.The winning underwriter settles with the Ministry of Finance. After completing the sale of treasury bonds, the underwriter needs to pay the corresponding amount to the Ministry of Finance to obtain the proceeds of the issuance of treasury bonds.
8.Treasury bond registration and custody. Both the issuance and trading of treasury bonds need to be managed by a special registration and custodian to ensure the legitimacy and security of the transaction.
9.Treasury bonds are listed and traded. After the issuance of treasury bonds is completed, they can be listed on the ** exchange or other trading venues, and investors can buy ** bonds at any time.
10.Regular repayment of principal and interest. The issuer of the treasury bond (i.e., **) needs to repay the principal and interest to the investor within the agreed time to ensure that the interests of the investor are protected.
The above is the main process of treasury bond issuance, in which each link has its own specific responsibilities and requirements, which requires the joint efforts of all parties.