1. What are the conditions for issuing bonds?
When issuing bonds, the company shall meet the following requirements: the net assets of a joint stock limited company shall not be less than 30 million yuan, the net assets of a limited liability company shall not be less than 60 million yuan, and the accumulated balance of corporate bonds shall not exceed 40% of the net assets at the end of the latest period.
Second, what is the way for companies to issue bonds?
There are three ways to issue corporate bonds, namely, face value issue, premium issue and at discount. Assuming other conditions remain unchanged, when the coupon rate of a bond is higher than the bank deposit interest rate in the same period, it can be issued at a price exceeding the face value of the bond, which is called premium issuance. Premium means that enterprises will pay more interest in the future and get compensation in advance; If the coupon rate of a bond is lower than the bank deposit interest rate in the same period, it can be issued at a price lower than the face value of the bond, which is called discount. Discounting means that enterprises pay less interest in the future and compensate investors in advance. If the coupon rate of a bond is the same as the interest rate of bank deposits in the same period, it can be issued at face value, which is called face value issue. Premium or discount is the adjustment of interest expenses by bond issuing enterprises during the existence of bonds.
To publicly issue corporate bonds, you can apply for one-time approval and issue them in installments. The issuer shall complete the initial issuance within 65,438+02 months from the date of approval of the issuance by the China Securities Regulatory Commission, and the remaining amount shall be completed within 24 months. The prospectus for public offering of corporate bonds is valid for 6 months from the date of final signing. In case of installment issuance, the issuer shall timely disclose the updated prospectus of bond offering in subsequent issuance, and report it to the China Securities Regulatory Commission for filing within 5 working days after each issuance.
Legal basis: According to the relevant provisions of the Securities Law, the Company Law and the Pilot Measures for the Issuance of Corporate Bonds, the issuance of corporate bonds shall meet the following conditions:
1. The net assets of a joint stock limited company shall not be less than RMB 30 million, and the net assets of a limited liability company shall not be less than RMB 60 million.
2. The accumulated balance of corporate bonds after this issuance shall not exceed 40% of the net assets at the end of the latest period; The accumulated corporate bond balance of financial companies is calculated according to the relevant provisions of financial companies.
3. The company's production and operation comply with the provisions of laws, administrative regulations and the articles of association, and the investment of raised funds conforms to the national industrial policy.
4. The average annual distributable profit realized in the last three fiscal years shall not be lower than the interest of corporate bonds 1 year.
5. The bond interest rate shall not exceed the interest rate level stipulated by the National Education Institute.
6. The company's internal control system is sound, and there are no major defects in the integrity, rationality and effectiveness of the internal control system.
7. According to the rating of credit rating agencies, the bond has a good credit rating.