Corporate bonds refer to loan certificates issued by joint-stock companies for additional capital within a certain period of time (such as 10 or 20 years). Corporate bonds, also known as corporate bonds, are bonds issued by enterprises in accordance with legal procedures and agreed to repay the principal and interest within a certain period of time. There are four main differences between them: first, the issuers are different: corporate bonds can only be issued by listed joint stock limited companies at present. Second, the use of raised funds is different: the funds raised by corporate bonds are generally used for infrastructure construction, fixed assets investment, major technological transformation, public welfare investment, etc. Corporate bonds can be issued according to the specific business needs of the company. Third, the regulatory agencies are different: the issuance of corporate bonds is subject to the approval system, and the China Securities Regulatory Commission examines whether the materials of the issuing company comply with the statutory system. The issuance of corporate bonds is approved by the National Development and Reform Commission. Fourth, there are differences in information disclosure requirements: issuers of corporate bonds do not have strict information disclosure obligations; Corporate bond issuers have strict information disclosure.
Legal objectivity:
Article 159 of the Company Law of People's Republic of China (PRC)
Corporate bonds can be transferred, and the transfer price shall be agreed by the transferor and the transferee.
Where corporate bonds are listed and traded on a stock exchange, they shall be transferred in accordance with the trading rules of the stock exchange.
Article 160
Registered bonds shall be transferred by the bondholders by endorsement or by other means prescribed by laws and administrative regulations; After the transfer, the company shall record the name and domicile of the transferee in the corporate bond stub book.
If the registered bonds are not transferred, the transfer shall take effect after the bondholders deliver the bonds to the transferee.