论文部分内容阅读
债转股方案有望在9月中下旬出台。在这期间,市场对债转股的态度几经转变。今年3月份,国务院总理李克强对债转股做明确指示:“通过市场化债转股的方式来逐步降低企业的杠杆率。”债转股风声渐起。4月份有消息称,首批债转股规模将达到1万亿元,债转股概念受到投资者追捧。此后不久,债市违约潮起,东北特钢和中铁物资为解决债务问题,都抛出了债转股方案,令市场开始质疑债转股将会变成央企国企主动“逃废债”的手段。5月中旬,权威人士更是强调,“不要动辄搞债转股。”之后一段时间,债转股趋十平静。近日,国家发改委、财政部、央行、银监会等多部委落实了债转股的最新指导意见。同时,负债近千亿元的中钢集团将其债转
Debt to equity program is expected to be introduced in late September. During this period, the market’s attitude toward debt-to-equity swaps changed. In March of this year, Premier Li Keqiang of the State Council made a clear instruction on debt-to-equity conversion: “Gradually reduce the leverage ratio of enterprises through the market-oriented debt-to-equity swap.” In April there is news that the first batch of debt-to-equity ratio will reach 1 trillion yuan, the concept of debt-to-equity investors sought after. Shortly thereafter, the bond market default, the Northeast Special Steel and China Railway Materials to solve the debt problem, have thrown the debt-to-equity program, the market began to question the debt-to-equity swap will become the central state-owned enterprises take the initiative to “flee the debt” s method. In mid-May, the authorities even stressed that “Do not engage in debt-to-equity conversion. ” After a period of time, debt to equity ten calm. Recently, the National Development and Reform Commission, the Ministry of Finance, the Central Bank, China Banking Regulatory Commission and other ministries to implement the latest guidelines for debt to equity. Meanwhile, Sinosteel, which has a debt of nearly one hundred billion yuan, transferred its debt