(1) According to the bond term, corporate bonds can be divided into short-term corporate bonds, medium-term corporate bonds and long-term corporate bonds.
According to the term classification of corporate bonds in China, the term of short-term corporate bonds is within 1 year, the term of medium-term corporate bonds is within 1 year and less than 5 years, and the term of long-term corporate bonds is more than 5 years.
(2) According to whether the bonds are registered, corporate bonds can be divided into registered bonds and registered bonds.
If the name of the bondholder is registered on the corporate bond, the investor must sign the bond with the seal or other valid identification when receiving the interest, and register with the issuing company at the same time, then it is a registered bond, and vice versa.
(3) According to whether the bonds are secured or not, corporate bonds can be divided into credit bonds and secured bonds.
Credit bonds refer to unsecured bonds issued only by the fundraiser's own credit. Guaranteed bonds refer to bonds that guarantee the issuer to repay the principal and interest on schedule by means of mortgage, pledge and guarantee. Among them, mortgage bonds refer to bonds issued with real estate as collateral, pledge bonds refer to bonds issued with certificates of deposit, securities and movable property as collateral, and guarantee bonds refer to bonds issued with the credit guarantee of a third party.
(4) According to whether bonds can be redeemed in advance, corporate bonds can be divided into bonds that can be redeemed in advance and bonds that cannot be redeemed in advance.
If a company has the right to buy back all or part of its bonds at regular intervals or at any time before their maturity, such bonds are called callable corporate bonds, and vice versa.
(5) According to the change of bond coupon rate, corporate bonds can be divided into fixed interest rate bonds, floating interest rate bill bonds and progressive interest rate bonds.
Fixed-rate bonds refer to bonds with a fixed interest rate during the repayment period, floating-rate bills refer to bonds whose interest rate changes regularly with the market interest rate, and progressive-rate bonds refer to bonds whose interest rate is progressive with the increase of bond term.
(6) According to whether the issuer gives investors the option, corporate bonds can be divided into corporate bonds with option and corporate bonds without option.
Corporate bonds with options mean that bondholders are given certain options, such as convertible corporate bonds, corporate bonds with warrants, and repayable corporate bonds. Bondholders of convertible companies can convert bonds into stocks issued by salt companies at a specified price within a certain period of time; Bondholders with warrants can buy shares of the agreed company with warrants; Refundable corporate bonds can be refunded within the prescribed time limit. On the contrary, bonds without the above options are corporate bonds without options.
(7) According to the issuance method, corporate bonds can be divided into public bonds and private placement bond. Public issuance of bonds refers to bonds that are publicly issued to social investors with the approval of the securities authorities in accordance with legal procedures; Private placement bond refers to the non-public issuance of bonds for specific investors. The issuance procedure is simple, and generally it cannot be publicly traded.
Legal basis:
Article 155 of the Securities Law of People's Republic of China (PRC) * * * The securities settlement risk fund shall be deposited in a special account of a designated bank and subject to special management.
After the securities registration and settlement institution recovers from the securities settlement risk fund, it shall recover from the relevant responsible person.