XY Company Accounts Receivable Securitization Financing Scheme Design

Since the birth of asset securitization products,which quickly swept the world,has been sought after by the capital demanders and capital providers.In the developed financial markets of Europe and the United States and other western,asset securitization products have become one of the main means of financing,but also an important investment tool for investors.Asset securitization is a very important financial innovation,which has the advantages that traditional financing methods do not have,such as improving the company's financial structure,improving the operational efficiency of assets,etc..When China's economy has entered a new norm,China speeds up the supply side reforms and promotes the "The Belt and Road" construction,so that China's coal industry is facing new opportunities and challenges.Once the coal industry has played a huge role in promoting China's economic growth,with the industry boom declining,coal enterprises need funds for capacity building,but the current financing channels of China's coal enterprises is narrow and the way of financing is single.Asset liability ratio is generally at a higher level,and it is long for the coal industry investment cycle,the urgent need is to take a new way of financing to solve the huge funding gap.This paper selects the coal industry representative of XY company,through a brief introduction to the company,and lets us understand the source of the company's funding and explains that there are currently financing problems,and by comparing the advantages and disadvantages of various financing models,the rationality of asset securitization financing is illustrated.This paper analyzes the policy environment,market environment and corporate finance,and explains the feasibility and necessity of asset securitization financing.This paper expounds the relevant concepts of asset securitization,and according to the specific situation of the enterprise,chooses the appropriate transaction structure.Before theaccount receivable securitization,we must select appropriate high-quality assets and predict the cash flow generated by the underlying assets pool;During the period of accounts receivable securitization,accountsreceivable often requires to be discounted and determined by the discount rate and the levels of the asset-backed securities and the expected rate of return on asset securitization,and thenthis paper analyzes the economic benefits of asset securitization financing,and finally the paper reveals the risks of securitization financing of accounts receivable and puts forward the corresponding preventive measures.