Long-term bonds or issuers of long-term bonds are deemed to be in default under the following circumstances:
1. Before the maturity of long-term bonds, the issuer of bonds goes bankrupt or is taken over.
2. The bond issuer cannot repay the principal and interest in full within 90 days after the maturity date of the long-term bond;
3. Debt restructuring of bonds is not conducive to creditors, that is, creditors' claims suffer different degrees of losses through restructuring, including the reduction and extension of principal and interest.
Extended data:
The types of national debt issued in the history of our country are mainly national debt and national debt, among which national debt has been issued almost every year since 198 1. Mainly for enterprises and individuals; National bonds were issued, including national key construction bonds, national construction bonds, financial bonds, special bonds, value-added bonds and capital construction bonds.
Most of these bonds are issued to banks, non-bank financial institutions, enterprises and funds, and some are issued to individual investors. Treasury bill rate for individual issuance is basically determined according to the bank interest rate, which is generally higher than the bank deposit interest rate in the same period by 1 ~ 2 percentage points. When the inflation rate is high, the national debt is also hedged.
Baidu Encyclopedia-Bond Default