What does it mean for listed companies to issue bonds?

It is a common phenomenon that listed companies issue bonds in the secondary market. Issuing bonds means that listed companies raise funds in the market, but the share price of listed companies will not rise or fall because of issuing bonds. Generally speaking, bonds can be issued if the issuance conditions stipulated by the exchange are met, and investors should not over-interpret them.

I. Conditions for a listed company to issue bonds:

1. The term of corporate bonds is more than one year. This means that the period from the date of issuance of corporate bonds to the date of repayment of principal and interest is not less than one year. According to the provisions of the Company Law, when issuing corporate bonds, the "time limit and method of repayment of principal and interest" shall be specified in the fundraising method, and the time limit of corporate bonds shall be calculated and determined accordingly.

2. The actual amount of corporate bonds issued is not less than 50 million yuan. This means that the amount of corporate bonds issued by issuers for listing is more than 50 million yuan. According to the provisions of the Company Law, a company that meets the requirements for issuing corporate bonds can issue corporate bonds for many times, and its cumulative issuance amount is the total amount of all kinds of bonds (such as different maturities, different interest rates, convertible or non-convertible, etc.). ) Not yet due, not exceeding 40% of the company's net assets. To this end, the specific application for listing bonds on the stock exchange requires that the actual amount of corporate bonds issued this time be more than 50 million yuan.

3. When the company applies for listing its bonds, it still meets the statutory conditions for issuing corporate bonds. This means that the issuer has always been in a state with the conditions to issue corporate bonds, that is, the issuer should maintain a credit status when issuing corporate bonds, so that the interests of corporate bondholders can be realized and the transaction of corporate bonds is safe. If the conditions for issuing corporate bonds are lost, there will be risks in repaying the principal and interest when the corporate bonds expire.

Two. Conditions to be met for listing on the main board market in China:

1. With the approval of the State Council securities management department, the stock has been publicly issued to the public;

2. The total share capital of the company is not less than RMB 50 million;

3. It has been in business for more than three years and has been making profits continuously in the last three years; If the original state-owned enterprise is established after being rebuilt according to law, and its main sponsors are large and medium-sized state-owned enterprises, it can be calculated continuously;

4. The number of shareholders holding shares with a face value of more than RMB 65,438+0,000 is not less than 65,438+0,000, and the shares publicly issued to the public account for more than 25% of the total shares of the company; If the company's total share capital exceeds 400 million yuan, the proportion of its shares issued to the public is more than 15%;

5. The company has no major illegal acts in the last three years, and its financial and accounting reports have no false records;

6. Other conditions stipulated by the State Council.

Meet the above conditions, you can apply to the the State Council Securities Management Audit Department and the Exchange for listing.