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最近,我们对全省1993年企业发行债券及到期兑付情况进行了调查,发现大多数企业都存在兑付难的问题。这一方面是由于企业经济效益差,偿还资金难以落实;另一方面则由于发行过程中存在的问题造成的。一、债券的发行情况1993年以来,全省共有38家企业发行债券,总金额10410万元。(1)按地区划分:宝鸡200万元,咸阳1500万元,汉中3810万元,渭南3100万元,铜川300万元,商洛1000万元,安康500万元。年利率一般在9％—14.0％之间。(2)按期限划分,一年期内的短期融资券29家6610万元,二年期的2家400万元,三年期的7家3400万元。(3)按代理发行单位划分,主要有人行主办的证券公司和资金市场代发14家,金额4800万元,占总金额的46％;工行系统(包括省、市、县工行、工行信托办)代发13家,金额2900万元,占27.8％;建行系统(包括市建行、市建行信托办)代发7家,金1400万元,占13.4％,城市信用社代发3家,金额610万元,占5.8％。二、债券偿还情况及困难截止1993年底,全省有28家企业债券到期,已经或即将兑付,总金额23337.24万元,包括本金19555万元,利息3382.24万元。其中宝鸡6家8901.9万元,咸阳4家1858.84万元,渭南4家3817.10万元,汉中11家3340.40万元,铜川1家4260万元,商洛2家770万元,延安1家289万元。从已兑付的情况看,普遍存在兑付
Recently, we conducted a survey of the province’s 1993 corporate bonds issue and payment due, and found that most companies have difficulties in redemption. On the one hand, this is due to the poor economic efficiency of enterprises and the difficulty in repaying funds; on the other hand, it is caused by problems in the issuance process. 1. Issuance of Bonds Since 1993, a total of 38 companies have issued bonds in the province with a total amount of 10.41 million yuan. (1) Classified by region: Baoji 2 million yuan, Xianyang 15 million yuan, Hanzhong 38.1 million yuan, Weinan 31 million yuan, Tongchuan 3 million yuan, Shangluo 10 million yuan, and Ankang 5 million yuan. The annual interest rate is generally between 9% and 14.0%. (2) According to the time limit, 29 short-term financing bills are worth RMB 66.1 million in one year, two RMB 4 million in two years, and RMB 34 million in three years. (3) According to the agency distribution unit, there are 14 securities companies and capital markets that are mainly held by people. The amount is 48 million yuan, accounting for 46% of the total amount; ICBC system (including provincial, city and county ICBC, ICBC trust office) ) 13 were issued on behalf of the country, amounting to 29 million yuan, accounting for 27.8%; the CCB system (including the municipal construction bank and the municipal construction bank trust office) issued 7 on behalf of the government, 14 million yuan was used for gold, accounting for 13.4%, and 3 were issued by the city credit cooperatives. 6.1 million yuan, accounting for 5.8%. 2. Repayment of Bonds and Difficulties By the end of 1993, there were 28 corporate bonds in the province that had expired and had been or were about to be redeemed. The total amount was 23337.24 million yuan, including principal amount of 195.55 million yuan and interest of 33.8242 million yuan. Among them, Baoji had 6 890.19 million yuan, Xianyang 4 8.5888 million yuan, Weinan 4 38.11 million yuan, Hanzhong 11 33.410 million yuan, Tongchuan 1 42.60 million yuan, Shangluo 2 7.7 million yuan, and Yanan 1 289 million yuan. From the perspective of redemption, there is widespread honour