Exchangeable corporate bonds: Exchangeable corporate bonds are issued by shareholders of listed companies. Within a certain period of time, investors can exchange their bonds for bonds of listed companies held by shareholders according to the agreed conditions. The issuer of exchangeable corporate bonds is an enterprise legal person who directly holds the shares of a listed company. The advantages of exchangeable bonds are as follows: because bonds contain callable options, the comprehensive financing cost is relatively low for the company.
Convertible corporate bonds: convertible corporate bonds refer to corporate bonds issued by listed companies according to law and can be converted into shares of listed companies within a certain period of time according to agreed conditions. The issuer of convertible corporate bonds is different from exchangeable bonds. Exchangeable bonds are shareholders of listed companies, and convertible bonds are listed companies themselves. These two kinds of bonds have different effects on the company's share capital. Convertible bonds lead to the expansion of the total share capital of listed companies, while convertible bonds will not affect the total share capital of listed companies.
Renewable corporate bonds: Renewable corporate bonds are a kind of perpetual bonds, which are characterized in that the issuer has the option to renew the bonds at the end of each repricing cycle, that is, at the end of each repricing cycle, the issuer has the right to choose to extend the term of the bonds by 65,438+0 repricing cycles or pay the bonds in full.
Green corporate bonds: Green bonds refer to any bond instruments that use the proceeds exclusively for financing or refinancing green projects that meet the specified conditions. It is suitable for issuers of green projects such as energy conservation and environmental protection, and can open green channels when approving.
Innovative and entrepreneurial bonds: the scope of issuers of innovative corporate bonds is relatively narrow, including only innovative and entrepreneurial companies and venture capital companies. Innovative and entrepreneurial companies can flexibly use the raised funds to repay interest-bearing debts and supplement working capital. Venture capital companies must invest the raised funds in the equity of the dual-creation company in the seed stage, initial stage and growth stage.
Asset-backed bonds: ABS refers to the business activities of structured issuance of asset-backed securities as repayment support and credit enhancement based on the cash flow generated by the underlying assets. The basic assets here can be bank credit card repayment funds, car loans, mortgages and so on.