企业债与公司债英语区别

Introduction:

The main topic of this article is the differences between corporate bonds and company bonds. Corporate bonds are generally issued by corporations or limited liability companies, while enterprise bonds are mainly issued by government-backed enterprises. In this article, we will summarize and provide detailed explanations for each key difference between these two types of bonds.

1. Issuers:

Corporate Bonds: Corporate bonds are issued by corporations or limited liability companies.

Enterprise Bonds: Enterprise bonds are primarily issued by government-backed enterprises.

2. Types of Credit Bonds:

Credit bonds include various types such as corporate bonds, company bonds, commercial paper, and medium-term notes. These bonds are affected by market interest rates as well as credit ratings.

3. Application and Approval Process:

The application and approval process for both types of bonds are similar. However, the main difference lies in the regulatory authorities. Corporate bonds are primarily reviewed and approved by the Shanghai and Shenzhen Stock Exchanges, while enterprise bonds are subject to the review and approval of the National Development and Reform Commission (NDRC) or the China Central Depository & Clearing (CCDC).

4. Naming Conventions:

Corporate bonds are typically named using the format "XX company bonds" or "XX corporate bonds" based on the issuing company's name.

Enterprise bonds are named using the format "XX enterprise bonds" based on the issuing enterprise's name.

5. Guarantee Requirements:

Corporate bonds are usually issued without any form of collateral or guarantee.

Enterprise bonds may require a bank or a group to act as a guarantor for the bond issuance.

Conclusion:

In summary, corporate bonds and enterprise bonds differ in terms of issuing entities, types of credit bonds, application and approval processes, naming conventions, and guarantee requirements. It is important to understand these differences when investing or trading in the bond market.