and" through bond financing

Bonds has exceeded 700 billion since the beginning, nearly 1.5 times of the last times this year, with the Central Bank repeatedly to improve deposit rates and lending rates, not only those who are not listed under the weight of SMEs facing money, even relatively easy to borrow financing problems of listed companies is not small. In the case of loans, issuance of rights issue difficult to that listed companies have been turning to debt financing.According to the information data show this year issued debt of over $ 700 billion in listed companies (including corporate bonds, convertible bonds, medium-term notes, and short-term financing bonds, the same below), well beyond the issue for the year 2010. Bond funds for listed company thirst, also provides new investment targets. Main capital stocks (eleven-twenty fifths) unit fled to cut meatRegret sudden boom is not likely in a move investors Gospel: hold stocks saved! Super 40% over a year ago to issue bonds this year according to statistics, as of November 17, this year a total of 237 Trojan issued $ 705.57 billion worth of bonds of listed companies, throughout 2010, Shanghai and Shenzhen stock markets for a total of 155 companies issued bonds, Issue size of 483.655 billion yuan.����By contrast, this year, listing corporate bond issuance has surged HK $ 221.915 billion for the whole year compared with last year, showed an increase of 45.89%. Statistics show that in January-October, Shanghai and Shenzhen on the issue and rights issue finance respectively $ 371.8 billion and $. Industry analysts believe that the weak stock marketBackground, issuance of allotment financing is more difficult to take place, listed companies by the bond market has become the new way forward.����New express statistics found that as of November 25, this year a total of 379 notice of listed companies issued bonds, size of October there were 79.8 billion yuan. "In the case of return on the stock market overall is lower now, vigorouslyShow bond financing on the capital market as a whole will benefit.����"Beijing yanjing overseas Chinese University Chancellor Watson is the comments.����Watson said listed companies are among the best and most important part of China's enterprises, if this part of the financing of enterprises from bank loans to the independent issue bonds would allow the Bank significantly reduced demand for loans. Assistant General Manager of Shanghai Stock Exchange Xia JianPavilion enterprises issuing bonds is considered can also scale up, speed up development. It explained that the national debt swtor power leveling, financial bond issuance greatly, truly based on enterprise credit credit debt market (including corporate bonds, corporate bonds, medium-term notes and short-term financing bonds) is the amount of 4 trillion, accounted for the entire debt stock of 20%, small and medium enterprises financing difficulty of problems is not yet valid key. National credit, quasi-StateCredit bonds accounted for the total amount of bonds in China's 80%, this ratio is far from equilibrium. This reporter has learned in a mature capital markets, debt is much more than equity financing, such as the United States share of corporate bonds, government bonds, equities, 60% and 10% respectively, therefore, is still at a low level of development of domestic bond markets, the future still have a lot of promotionSpace. Recently listed company SFC started the gem private placement bonds, company will also join the bond force next gem. Independent financial writer Pi Haizhou yearn for this, "said bond as second board companies and our main way of refinancing of listed companies, which is obviously conducive to relieve pressure on the refinancing of stock market faces. Because by issuing bonds, notYou can only maintain or even increase the proportion of direct financing, but also to relieve pressure on refinancing of the a-share ", and" through bond financing, can also reduce the listed companies '; ', and increase return on listed companies. Through debt financing, also may enhance your planned funds of listed companies, changing '; lavishly ' spending habit. "TicketsInterest rate is up to 9% on bond financing of listed companies "blowout" phenomenon, insiders explained that the Securities and Futures Commission to promote the development of corporate bonds currently implementing "green passage" system, auditing procedures considerably simplified, basic control of project approval in less than a month, at the same time, banking, insurance and other large institutions are permitted to enter the corporate bond market, the Exchange also will comprehensively enhance the company'sDebt position. From a company perspective, issue bonds subject to approval of high efficiency, time is short, it is currently issuing costs are lower in 2011, issuance of corporate bonds issued guiding interest rates interest rates below the medium-term bills. For example guotai Junan primary underwriting 11 debt issues at Nangang guiding interest rates 40 basis points in interest rates earlier. In addition, with the rapid expansion of corporate bond market, a large number of investmentFunding allowed to enter, corporate bond issuance increased steadily. Data show that as of November 22, to issue corporate bonds with an average size was 1.52 billion yuan this year. That the corporate bond market to meet the financing needs of public companies. However, with the Central Bank raising interest rates three times this year, debt issuance costs of listed companies have gradually rose. New Express Reporter statistics found that since January this year openedBegan, with the exception of May, and July release rates outside the ring have decreased slightly, remaining bond interest rates are now over the month to grow, its average issue rate respectively, 4.24%, 5.06%,, 5.42%, 5.56%,, 5.4%, 6.76%, 6.79%,, that is to say the past fewMonths of bond interest rates have been heading will be implemented early next year at least 5 years of benchmark lending rate (if no interest rate cuts by the end, from January 1 next year, more than 5-year benchmark lending rate from five rose to 6.4%). Judging from the average bond rate, per cent in January this year has exploded to per cent in November, an increase of as much as 63.92%������Incomplete statistics, there are currently 48 corporate bond's coupon rate is greater than 7.05%, Changzheng electric corporate bond coupon rate as high as 9% star wars the old republic power leveling, refresh this year a single listed company corporate bond coupon rate on record. Apart from Changzheng electric, Jiangxi cement, Dunan, environment, forestry, tengda construction, kaidi electric power rose, Xinxiang chemical fiber, LeeInformation science and technology, South day, new radicals, Han's laser, shanying paper, US shares, Jilin forest industry, and huayi brothers 14 listed corporate bond issuance rates have reached and even exceeded 8%.����Some short loan annual interest rate of higher bond issuance scale (billion yuan) period (year) coupon interest rate (%) Changzheng electric 4 3 Jiangxi cement3 1 4 1 Dunan environment rose to forestry construction 2 1 10 1 tengda kaidi electric power 11.8 7 Li in Xinxiang chemical fiber 5 1 South 4 1 2 1 day information of science and technology in the new base 43 1 1 8.3 Han's laser shanying paper 2 1 3 1 US shares of Jilin forest industry 5 0.73 huayi brothers 3 1 8 7 5 XJ electric 5 1 of qilian mountain Dr Peng 4 1Huafu m��lange 2 5 6 5 kelun pharmaceutical industry kelun pharmaceutical instrument for electric 7 5 3 1 China huayi electrical 3 1 7 5 new continents a deep development of Hui days a 36.5 15 heat 2 1 Shanghai ChinaHolding 2 1 7 5 Arts Arts shares stake in Dongguan, 7 5 star power 7.5 6 holding 3 5 Thailand chemical in Saint Angelo 3 7 13 7 zhongfu industrial 15 8 zhongfu industrial 15 8 Kyushu pass 4.5 1 8 1 lingyun shares fangda carbon 5 1 Dongguan holding tone holding 4 3 4 3 days Jin Jing technology Xiamen international trade 4 3 8 3 yunlvgufen 2 57.15 11.4 5 Yi TCL group Aton $ 5 3 10 7 health 2 1 10 7 Eurasian Group (Note: the tickets of these interest rate loan annual interest rate of more than 5 years early next year) 12 next page