The debt equity swap program is expected to recently introduced pilot material based – energy beef怎么读�

The debt equity swap program is expected to recently introduced   pilot to large state-owned commercial banks — based energy — original title: debt equity swap program is expected to recently introduced a pilot to large state-owned commercial banks mainly debt program is expected to recently introduced the first batch of pilot banks to large state-owned commercial bank China Securities News reporter learned from authoritative sources led by the NDRC, debt plan is expected to recently introduced, may be the fastest in 9 months late. Program will follow the principles of market-oriented, rule of law, commercial banks or one of the leading parties, the first batch of pilot banks may be dominated by large state-owned commercial banks. The State Council recently issued a plan to reduce the cost of the real economy enterprises clearly stated to support the development potential of the real economy between the enterprise equity transfer. Experts believe that the debt to equity and promoting the reform of state-owned enterprises of the rhythm and intensity may exceed market expectations, "one policy, one thing" and market pricing will be the biggest surprise. Adhere to the market principle of the signs of debt to equity pilot program jianxingjianjin. Development and Reform Commission deputy director Lian Weiliang earlier in the State Council policy briefing said that debt is an important measure of debt restructuring, but also an important measure to reduce corporate leverage. With the development of the supply side structural reform measures of the CPC Central Committee and the State Council have arranged the relevant functional departments of comprehensive measures to reduce corporate leverage studies, including debt equity swap. Some concrete measures of debt are working on, the market will follow the rule of the principle of debt equity swap. In fact, the "debt" is not a new thing. The last century in 90s, to support the reform of state-owned enterprises, to resolve non-performing assets of the four major state-owned commercial banks, the four Asset Management Co was established and the non-performing assets corresponding to the four major state-owned banks, of which about 400 billion yuan of bad assets out of debt to equity, the effect is immediate. Corporate debt ratio decreased significantly, significantly reduce interest burden, business enterprise can direct turnaround. Commercial banks will act as an important role in the current round of debt to equity swap". Agricultural Bank President Zhao Huan recently in the interim results briefing said in support of the "debt equity swap" policy, saying the move will bring new funding channels. A number of experts and the banking industry to the Chinese Securities Journal said, unlike the last round of policy debt to equity, debt reflects the choice of the initiative to guide the market under the principle of creditors rise; and then the allocation of different denominations, this reflects the increased likelihood of pricing negotiations and consultations to creditor. Huatai Securities analysts pointed out that the promotion of market-oriented debt, liquidity needs to maintain a relatively relaxed state, avoid debt prices, equity prices and asset prices fell significantly, landing impact of debt. On the other hand, the market debt program started, banks and other creditors are likely to become the dominant party. The debt will put pressure on the bank’s capital adequacy ratio, the central bank may take measures to alleviate the pressure of banking capital. The enterprise will come from industry overcapacity is expected to market, debt to equity swap enterprises will choose from coal, iron and steel etc.. CIC Securities believes that, as of now,相关的主题文章: