A Case Study Of Mezzanine Financing For Fengtai Science And Technology Park East Phase ? Project

With the increasing complexity of the market structure,the scale of financing needs of enterprises is widening.The existence of financing gap,single financing channels,has become a major obstacle to the development of enterprises.From the present stage of our country,the choice of corporate finance is really small.First,the limited size of listed companies financing can not make up for the project fundinggap;Second,Equity financing threshold is too high leading to the vast majority of enterprises can not meet the basic requirements of listing,but the demand for funds is quite urgent;The three is the relevant laws and regulations are not perfect,which leads to the fact that resulting in the enterprise financing system is not perfect,the financing channels need to be widened.The mezzanine financing as a new type of financing channels,has the characteristics between equity and debt,can be flexible to help enterprises solve the financing needs,adjust the capital structure,then promote the sustained and healthy development of enterprises to raise funds.The China Fortune Ltd use the mezzanine financing to help the Fengtai Science and Technology Park East Phase III project to raise funds.It is can open up a new road for the single enterprise financing,mezzanine financing business and provides reference for other wishes.In this paper,it summarizes the basic domestic and foreign scholars on the mezzanine financing research results,combined with the theory of mezzanine financing,through the case study of Fengtai Science and Technology Park East Phase III project's mezzanine financing case east of the three phase of the project were studied.Firstly,this paper introduces the basic situation of Fengtai Science and Technology Park East Phase III of mezzanine financing,to the project as a starting point,about the financing needs of enterprises.Secondly,the main provisions of the Fengtai Science and Technology Park East Phase III mezzanine financing and hedging,the design of the comb,the process of project financing.Finally,mezzanine financing in case the effect is analyzed,and the corresponding conclusion and Enlightenment from the mezzanine financing case.Through the study of Fengtai Science and Technology Park East Phase III case,this paper finds that the implementation of mezzanine financing(or project)to broaden thefinancing channels,improve the capital structure in the basic control of the business on the basis of dilution;to provide financial support for the project development and management;to a certain extent,optimize the company's financial situation.Based on the case of Fengtai Science and Technology Park East Phase III mezzanine financing won the case conclusion and enlightenment,such as: whether the enterprise can use mezzanine financing,how to carry out the process planning of mezzanine financing;strengthen and improve the financial market system and service system of our country,improve the mezzanine financing related laws and regulations,so as to speed up the development process of mezzanine financing in China in the capital market.