What are the conditions for issuing corporate bonds?

Issuing corporate bonds is also a way of financing for enterprises, but not all companies can issue them. The following conditions must be met: 1. The use of the raised funds conforms to the national industrial policy and the development direction of the industry, and the relevant procedures are complete, including examination and approval by the competent authorities, land, environmental assessment, etc. 2. Your enterprise must have existed for more than three years, and there have been no major violations of laws and regulations in the past three years; 3. There is no default or delay in servicing the issued corporate bonds or other debts; 4. The accumulated balance of bonds issued by an enterprise shall not exceed 40% of its net assets; 5. It has been profitable continuously in the past three years, and the average net profit in the past three years is enough to pay the interest of bonds for one year. In the actual examination and approval, the NDRC generally requires that the average net profit in the past three years can cover 1.5 times of the one-year interest of bonds; For fixed assets investment projects, it shall meet the requirements of the capital system of fixed assets investment projects. In principle, the cumulative issuance amount shall not exceed 60% of the total investment of the project. The proportion shall apply mutatis mutandis to those who have acquired property rights (shares). The amount used to supplement the working capital shall not exceed 20% of the total amount of bonds issued. Article 153 of the Company Law stipulates that 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).