证券公司债券管理暂行办法

Core Points - The document outlines regulations for the issuance and transfer of bonds by securities companies, aiming to protect the rights of bondholders and ensure compliance with relevant laws [1][2]. Group 1: General Provisions - Securities companies are required to follow the regulations set forth for bond issuance and transfer, with the China Securities Regulatory Commission (CSRC) overseeing these activities [2][3]. - Bonds issued by securities companies must have a defined maturity and interest repayment schedule [1]. Group 2: Issuance and Underwriting - Securities companies must meet specific criteria to issue bonds, including having a minimum net asset of 1 billion yuan and being profitable in the last year [3][4]. - For targeted bond issuance, the minimum net asset requirement is set at 500 million yuan [4]. - Funds raised from bond issuance must have a clear purpose and management plan, and cannot be used for prohibited activities [4][5]. Group 3: Credit Rating and Guarantees - Issuers must hire a credit rating agency to evaluate the bonds and ensure ongoing rating assessments [4][5]. - Bonds must be guaranteed, with the guarantee amount for public offerings being at least equal to the total principal and interest, while for targeted offerings, it must be at least 50% [5][6]. Group 4: Information Disclosure - Issuers are required to prepare a prospectus and other disclosure documents that provide accurate and timely information to investors [12][13]. - The prospectus must include essential details such as bond scale, term, interest rate, and repayment procedures [13][14]. Group 5: Debt Repayment Measures - Issuers must establish a dedicated repayment account for bond principal and interest, detailing the source and management of funds [41][42]. - In case of repayment difficulties, issuers must take specific measures, including not distributing profits to shareholders [43][44]. Group 6: Legal Responsibilities - Violations of the regulations can lead to administrative penalties from the CSRC, including fines and suspension of business qualifications for responsible personnel [52][56]. - Bondholders have the right to take legal action if issuers fail to repay principal and interest [57][58].