The Research On Debt Financing Scheme Selection Of Beidahuang(group) CORP.

BDH Group is the leader in China’s agriculture industry. The development of agribusiness has been greatly promoted because of the national policy support for agriculture. In recent years, BDH Group has been in a state of rapid development. It is necessary to expand enterprise scale and exert the scale effect, in order to maintain its current leading position in the industry. And this series of development plans need enough reserve funds which is regarded as the driving force of sustainable development. To obtain the capital required to ensure a healthy and reasonable capital structure, depending on whether the BDH Group is able to finance in a scientific and rational way. Debt financing is the main way of financing in BDH Group. So far, the studies on debt financing by domestic scholars are mostly based on the macro level, only a few studies is on the micro level. The study of debt financing need be transformed from theory to business practice.Based on the above, this article uses analytic hierarchy process to do the research about the debt financing choice of BDH Group. Firstly, the relevant research both domestic and foreign on debt financing has been reviewed. Secondly, the current debt financing of BDH Group has been analyzed. There are three problems in current debt financing, the first is the high proportion of short-term debt, and the second is the centralization of financing method, the third is the lack of financing evaluation system. The reasons are considered to be that BDH Group is excessively dependent on bank loans and lacks scientific and rational analysis of debt financing. In order to solve these problems, this article uses analytic hierarchy process, one of Multi Criteria decision making method, to build the financing evaluation index system. This financing evaluation index system consists of three primary evaluation indexes, financing inducement, financing risk, and financing cost. These evaluation indexes consists of 10 lower evaluation indexes. By using the questionnaires from the experts, the weight of each index has been calculated and the financing evaluation model has been built. Taking into account the practical situation of BDH Group, the medium-term notes financing is selected by the financing evaluation model.In the last part, the article describes the implementation methods of medium-term note financing to help BDH Group implement successfully. And it also provides the corresponding recommendations for the debt financing of BDH Group in the future. Firstly, improve the financing decision management. Secondly, establish the internal financial company. Finally, maintain the corporate credit rating.