From an analytical point of view, the main differences between corporate bonds and corporate bonds are as follows:
1. Difference between issuers: Corporate bonds are bonds issued by joint stock limited companies or limited liability companies, and non-corporate enterprises may not issue corporate bonds. The issuers of corporate bonds are institutions, wholly state-owned enterprises and state-controlled enterprises where the central government departments are located. It has narrower restrictions on issuers than corporate bonds.
Second, the issuance conditions: the issuance conditions of corporate bonds are relatively loose.
Corporate bonds: approval system. It is audited by the CSRC, and there is no limit to the overall issuance scale. Corporate bonds: the minimum amount is about 6.5438+0.2 million yuan and 24 million yuan.
Corporate bonds: auditing system. The National Development and Reform Commission conducts an audit, and the National Development and Reform Commission will set a certain amount of issuance every year. Corporate bonds: the amount of bonds issued is not less than 654.38 billion yuan.
Three. Guarantee: Corporate bonds are unsecured, and corporate bonds need bank or group guarantee.
4. There are also significant differences in the issue pricing between the two: the final pricing of corporate bonds is determined by the issuer and the sponsor through market inquiry, while the interest rate ceiling of corporate bonds requires that the interest rate of issuing bonds should not be higher than 40% of the bank deposit interest rate in the same period.
Verb (abbreviation of verb) issuance: corporate bonds can be approved at one time and issued many times. Corporate bonds are generally required to be issued within one year after approval. Legal basis: Article 153 of the Company Law of People's Republic of China (PRC) * * * 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). "Regulations on the Administration of Corporate Bonds" Article 2 These Regulations shall apply to the bonds issued in People's Republic of China (PRC) by legal person enterprises (hereinafter referred to as enterprises). But it does not include financial bonds and foreign currency bonds. No unit or individual may issue corporate bonds except the enterprises specified in the preceding paragraph. Article 5 The term "corporate bonds" as mentioned in these Regulations refers to the securities issued by enterprises in accordance with legal procedures, and agreed to repay the principal and interest within a certain period of time.