Do enterprises have to have the principal to bear the debt when issuing bonds?

Enterprises do not have to have a principal debt to issue bonds. Requirements for an enterprise to issue bonds: the net assets of a joint stock limited company are not less than 30 million yuan, and the net assets of a limited liability company are not less than 60 million yuan. The accumulated bond balance shall not exceed 40% of the company's net assets. The average distributable profit in the last three years is enough to pay the interest of corporate bonds for one year. The investment of raised funds conforms to the national industrial policy. The bond interest rate shall not exceed the interest rate level stipulated by the State Council. Other conditions stipulated by the State Council. The funds raised by the public offering of corporate bonds must be used for approved purposes, and shall not be used to cover losses and unproductive expenditures.