There are three ways in which bonds are issued

1) Parity issuance, i.e., the issuance of light bonds** is the same as the notional value of the par. (2) Premium issuance, i.e., issuance** higher than the notional value of the bond. (3) Discounted issuance, i.e., issuance** below par value of the bond.

1. What are the ways in which bonds are issued?

1. The bond issuance methods are as follows:

1) Parity issuance, that is, the nominal value of the light coupon is the same as that of the face value;

(2) Premium issuance, i.e., issuance** higher than the notional value of the bond.

(3) Discounted issuance, i.e., issuance** below par value of the bond.

2. Legal basis: Article 153 of the Company Law of the People's Republic of China.

The concept and issuance conditions of corporate bonds] The term "corporate bonds" in this law refers to the valuable bonds 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 the company shall comply with the issuance conditions stipulated in the ** Law of the People's Republic of China.

2. What is the general process of bond issuance.

The general process of bond issuance is as follows:

1. In the stage of making application materials, the issuer forms a willingness to issue bonds and communicates with the development and reform department in advance to prepare an application report for the issuer's bond issuance;

2. In the issuance and approval stage, submit the issuance application materials. In accordance with the catalogue of application materials for the public issuance of corporate bonds and its prescribed format, the corporate bond issuance plan shall be submitted step by step. After being reviewed by the Provincial Development and Reform Commission, apply to the National Development and Reform Commission;

3. In the formal issuance stage of bonds, the issuance announcement will be published. The issuer shall, by designating **, announce the announcement of the issuance of corporate bonds or the prospectus of corporate bonds 3 days before the first day of bond issuance. The issuance announcement and prospectus shall be true, accurate and complete, and there shall be no false records, misleading statements or material omissions;

4. In the post-issuance management work, real-name book-entry enterprise bonds shall be registered and deposited in accordance with relevant regulations. The custodian is the legal creditor registrant of real-name book-entry corporate bonds, and is responsible for the creditor's rights management, equity guardianship and redemption of corporate bonds after the issuance of corporate bonds, and is responsible for providing relevant information services to investors.

1.Private placement, also known as "private placement" or "private offering", is an offering to specific investors. Generally, the bond issuer directly negotiates the issuance conditions and other specific matters with certain institutional investors, such as life insurance companies, pensions, retirements, etc., which is a direct issuance.

2.Underwriting refers to the issuance method in which the issuer and the underwriting syndicate composed of commercial banks, ** companies and other financial institutions sign an underwriting contract through negotiation conditions, and the underwriting syndicate distributes the bonds to be issued.

3.Bidding issuance refers to the issuance method of determining the bond underwriter and issuance conditions through bidding. According to international practice, according to the different subject matter, the bidding and issuance can be divided into ** bidding without auction and yield bidding; According to the different rules of winning the bid, it can be divided into Dutch bidding (single ** winning bid) and American bidding (multiple ** winning bids).

Legal basis: Article 161 of the Company Law of the People's Republic of China A listed company may issue corporate bonds that can be converted into ** by resolution of the general meeting of shareholders, and the specific conversion method shall be specified in the measures for raising corporate bonds. The issuance of corporate bonds by listed companies that can be converted into ** shall be reported to the ***** supervision and management agency for approval.

1. Issuance of bondsThere are three ways to issue bonds, namely, face value issuance, premium issuance, and discount issuance. Assuming that other conditions remain unchanged, when the coupon rate of the bond is higher than the bank deposit interest rate in the same period, it can be issued at a rate exceeding the coupon value of the bond, which is called premium issuance. The premium is that the enterprise is compensated in advance for the overpayment of interest in subsequent periods.

If the coupon rate of the bond is lower than the bank deposit interest rate in the same period, it can be issued at a ** lower than the face value of the bond, which is called a discount issuance. The discount is that the enterprise pays less interest in the following periods and compensates the investor in advance. If the coupon rate of the bond is the same as the bank deposit interest rate in the same period, it can be issued at par **, which is called face value issuance.

A premium or discount is an adjustment of the interest expense of the issuer of the bond during the duration of the bond. In fact, there are only a few ways to issue limited liability public bonds, which are generally the more common methods of consignment sales, full underwriting, and balance underwriting. However, no matter what kind of issuance method is required, it needs to be carried out in accordance with the corresponding procedures stipulated by the state, and at the same time, it is necessary to apply to the relevant departments for the review of the bonds before issuance.

2. Conditions for the issuance of bondsAccording to Article 16 of the ** Law, the public issuance of bonds shall meet the following conditions:

1) The net assets of the limited shares shall not be less than RMB 30 million, and the net assets of the limited liability shall not be less than RMB 60 million;

2) The accumulated bond balance does not exceed 40% of the net assets;

3) The average distributable profit for the last three years is sufficient to pay the interest on the bond for one year;

4) The investment of the raised funds is in line with the national industrial policy;

5) The interest rate of the bond does not exceed the interest rate level set by ***;

6) Other conditions specified in ***. To sum up, there are three main ways to issue bonds, and these three issuance methods can raise available funds, but there are differences in the issuance of interest rates. Of course, the issuance of bonds must first meet the statutory conditions, otherwise it is not eligible to issue bonds.

If you still have any questions about this, please ask them and they will give you a more detailed answer.

** Article 15 of the Act.

The public issuance of corporate bonds shall meet the following conditions:

1) Have a sound and well-functioning organizational structure;

2) The average distributable profit in the last three years is sufficient to pay the interest on the corporate bonds for one year;

3) Other conditions specified in ***.

The funds raised by the public issuance of corporate bonds must be used in accordance with the purposes of the funds listed in the measures for raising corporate bonds; A change in the use of funds must be resolved by a meeting of bondholders. The funds raised by the public issuance of corporate bonds shall not be used to cover losses and unproductive expenditures. In addition to meeting the conditions specified in the first paragraph, the issuance of corporate bonds by listed companies that can be converted into ** shall also comply with the provisions of the second paragraph of Article 12 of this Law.

However, in accordance with the measures for raising corporate bonds, the listed company converts corporate bonds by acquiring the company's shares.