What is the maximum amount of bonds issued by China Securities Law?

The relevant provisions of the Securities Law on the issuance amount of corporate bonds: Article 16 of the original Securities Law is deleted, "The accumulated debt balance after the issuance of corporate bonds does not exceed 40% of the company's net assets", and the issuance of short-term bonds is no longer restricted by the 40% red line. In the actual audit, it is said that dealers' associations and exchanges will still control the issuance quota according to the actual situation of enterprises.

legal ground

Article 16 of the Securities Law of People's Republic of China (PRC)

To apply for public issuance of corporate bonds, the following documents shall be submitted to the department authorized by the State Council or the securities regulatory agency of the State Council:

(1) Business license of the company;

(2) Articles of association;

(3) Measures for raising corporate bonds.

(4) Other documents as prescribed by the authorized department of the State Council or the securities regulatory authority of the State Council.

Where a sponsor is hired in accordance with the provisions of this law, a letter of recommendation for issuance issued by the sponsor shall also be submitted.