What Are The Conditions For Issuing Corporate Bonds?

condition

:

(1) the net assets of Limited by Share Ltd are not less than RMB 30 million yuan, and the net assets of limited liability companies are not less than RMB 60 million yuan;

(2) the accumulated balance of the bonds should not exceed 40% of the net assets of the company.

(3) in the last 3 years, the average distributable profit is enough to cover the interest of corporate bonds in L;

(4) the funds raised are in line with the state's industrial policies;

(5) bond interest rate does not exceed the level of interest rate defined by the State Council;

(6) other conditions stipulated by the State Council.

The funds raised for issuing corporate bonds must be used for purposes approved by the examining and approving organs, and shall not be used to make up for losses and non productive expenditures.

When a listed company issues a convertible corporate bond, it shall, in addition to the conditions for the issuance of corporate bonds, comply with the requirements of the securities law regarding the issuance of shares and submit it to the securities regulatory authority under the State Council for approval.

The eighteenth section of the securities law provides for the prohibition of the issuance of corporate bonds, that is, one of the following circumstances is not allowed to issue corporate bonds again:

(1) the previous issue of corporate bonds has not yet been fully funded;

(2) the fact that a company's bonds or other debts have been defaulted or delayed paying principal and interest is still in a state of continued existence.

(3) violating the provisions of the securities law, and changing the purpose of raising funds raised by publicly issued corporate bonds.