Corporate bonds are debt contracts issued by joint-stock companies. The company promises to repay the principal and pay interest at a pre-agreed interest rate on a specific date in the future. There are mainly the following types of corporate bonds: (1) According to whether it is registered or not, it can be divided into: ① registered bonds, that is, the name of the holder is registered on the front of the bond, the principal and interest are collected by the seal, and the corporate bonds that need to be endorsed and registered with the issuing company are transferred. (2) Bearer bonds, that is, the name of the holder is not required to be stated on the face of the bonds, and the principal and interest repayment and circulation transfer are only subject to the bonds without registration. (2) According to whether the holder participates in the company's profit distribution, it can be divided into: ① Participating in corporate bonds refers to corporate bonds that can participate in the company's profit distribution to a certain extent in addition to obtaining interest income according to the pre-agreement. (2) Non-participating corporate bonds refer to corporate bonds whose holders can only earn interest at the pre-agreed interest rate. (3) According to whether it can be redeemed in advance, it is divided into: (1) corporate bonds can be redeemed in advance, that is, the issuer can buy back all or part of the issued bonds before the maturity of the bonds. (3) Corporate bonds cannot be redeemed in advance, that is, corporate bonds that can only repay the principal and interest at one time. (4) According to whether the issuer gives the holder the option, it can be divided into: ① Corporate bonds with options refer to the issuance of certain corporate bonds, giving the holder certain options, such as convertible corporate bonds.
Legal objectivity:
Article 153 of the Company Law of People's Republic of China (PRC) * * * The term "corporate bonds" as mentioned in this Law refers to the securities issued by the company in accordance with legal procedures and agreed to repay the principal and interest within a certain period of time. The issuance of corporate bonds by a company shall conform to the issuance conditions stipulated in the Securities Law of People's Republic of China (PRC).