When issuing bonds, the company shall meet the following requirements: the net assets of a joint stock limited company shall not be less than 30 million yuan, the net assets of a limited liability company shall not be less than 60 million yuan, and the accumulated balance of corporate bonds shall not exceed 40% of the net assets at the end of the latest period.
According to the relevant provisions of the Securities Law, the Company Law and the Pilot Measures for the Issuance of Corporate Bonds, the issuance of corporate bonds shall meet the following conditions:
1. The net assets of a joint stock limited company shall not be less than RMB 30 million, and the net assets of a limited liability company shall not be less than RMB 60 million.
2. The accumulated balance of corporate bonds after this issuance shall not exceed 40% of the net assets at the end of the latest period; The accumulated corporate bond balance of financial companies is calculated according to the relevant provisions of financial companies.
3. The company's production and operation comply with the provisions of laws, administrative regulations and the articles of association, and the investment of raised funds conforms to the national industrial policy.
4. The average annual distributable profit realized in the last three fiscal years shall not be lower than the interest of corporate bonds 1 year.
5. The bond interest rate shall not exceed the interest rate level stipulated by the National Education Institute.
6. The company's internal control system is sound, and there are no major defects in the integrity, rationality and effectiveness of the internal control system.
7. According to the rating of credit rating agencies, the bond has a good credit rating.
Extended data:
Ways for a limited liability company to publicly issue corporate bonds:
According to the object of bond issuance, it can be divided into two ways: private placement and public offering.
Private placement is to issue bonds to a few specific investors, usually to a few closely related units and individuals, rather than to all investors.
Private placement mostly adopts direct selling, without going through the securities issuance intermediary and going through the issuance registration formalities at the securities management organ, which can save underwriting fees and registration fees and the procedures are relatively simple. Private placement bond, on the other hand, can't go public and has poor liquidity. The interest rate is higher than that of public bonds, and the issuance amount is generally small.
The issuer of public bonds must go through the issuance registration formalities with the securities management authority. Because the issuance amount is generally large, it is usually entrusted to securities companies and other intermediaries for underwriting. Public bonds are highly creditworthy and can be listed for transfer, so the issue interest rate is usually lower than that of private placement bond.
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