Buying perpetual bonds issued by China Bank means holding China Bank bonds. The risk of perpetual bonds: if you buy perpetual bonds, you can get a fixed interest rate every year; If you want to redeem in advance, there are only two channels.
The central bank met the requirements of the China Banking Regulatory Commission and voluntarily redeemed this perpetual debt; Buy perpetual bonds in the hands of institutional mortgages and obtain funds. Perpetual bonds yield:
The interest rate of perpetual bonds is generally higher than that of bank time deposits. 20 19, 1 June, the coupon rate of perpetual bonds issued by BOC was 4.
5%, but the real interest rate of bonds may be 4. 2%-5。 2% level.
Perpetual bonds refer to investors who can't recover their principal at a certain time after purchase, but can earn interest permanently every year according to coupon rate.
Perpetual debt has become a sharp weapon for banks to replenish blood, and its advantage is that it can further optimize the capital structure.
By the end of March this year, 60 banks had issued perpetual bonds, the number of which was 73, with a total issuance scale of 654.38+22.25 million yuan. It should be pointed out that perpetual bank bonds can only be traded in the interbank market, and ordinary investors cannot buy them.
Although there are many kinds of bonds, they all contain some basic elements in content. These elements refer to the basic contents that must be stated in the bonds issued, and are the main agreements that clarify the rights and obligations of creditors and debtors, including:
1, par value of bonds
The face value of bonds refers to the face value of bonds, which is the principal amount that the issuer should repay to the bondholders after the maturity of bonds, and is also the calculation basis for enterprises to pay interest to bondholders on schedule. The face value of bonds is not necessarily the same as the actual issue price of bonds. If the issue price is greater than the face value, it is called premium issue; If it is lower than the face value, it is called discount; And if it is equivalent, it is called parity issue.
2. Repayment period
Bond repayment period refers to the time limit for repaying the principal of the bond stipulated by the corporate bond, that is, the time interval between the bond issuance date and the maturity date. The company should determine the repayment period of corporate bonds in combination with its own capital turnover and various factors affecting the external capital market.
3. Interest payment period
Bond interest payment period refers to the time when an enterprise pays interest after issuing bonds. It can be paid at one time, or 1 year, half a year or three months. Considering the time value of money and inflation, the interest payment period has a great influence on the actual income of bond investors. The interest of a bond that pays interest once at maturity is usually calculated at simple interest; For bonds that pay interest in installments during the year, interest shall be calculated according to compound interest.
4. coupon rate
The coupon rate of bonds refers to the ratio of bond interest to the face value of bonds, which is the calculation standard of the remuneration that the issuer promises to pay to bondholders in a certain period of time. The determination of bond coupon rate is mainly influenced by the bank interest rate, the issuer's credit status, the repayment period and interest calculation method, and the capital supply and demand in the capital market at that time.
5. Name of issuer
The name of the issuer indicates the debt subject of the bond, which provides the basis for the creditor to recover the principal and interest at maturity.
The above elements are the basic elements of the face value of bonds, but not all of them are printed on the face value when they are issued. For example, in many cases, bond issuers announce the term and interest rate of bonds to the public in the form of announcements or regulations.