The Case Study Of Medium-term-note Issurance Of X Company

Medium term note is a sort of collateral-free financing instrument,and has been used widely since 30 years ago.In China,the first time it has been introduced in front of people in 2008,and for following almost a dacade,it is getting more and more inportant in bond market,and end up becoming one of the main financing instruments.Meanwhile,Medium term note has better liquidity in secondary market,compared with other instruments in similar term.In respect to the dircet financing level,Anhui is somehow below the average.By now,the credit bonds outstanding are 500 trillion in face value corresponding to700 more credit bonds,which accounts for 1.85% of credit bonds outstanding naitonal-wide.In nutshell,compared with the neribour provinces such as Jiangsu,Shangdong and Shanghai,Anhui has obviouly paid a fewer attentions on Meduim term note.The motivation of this thesis is to provide an idea and view in terms of how private firms to success to finance by utilizing Medium term note.In first charpter,it expounds the background and significants of this thesis.In second charpter,it illustrates that the foundmental theories in corporate finance field and inroduces the strenghthes and features of Medium term note.The third charpter,a due dilligence has been carried out regarding to the target,X firm's background,product and developing strategies etcetera.In chatpters fourth,it fouces on what and how the company's profitability,efficiency,solvency and liquidity in changes across the period of time from X firms was about to issue Medium term note up to the aftermath it had issued.In charpter fifith,it concludes the experiences on how X firm succeccfully issued Medium term note and outlines what the inspirations through these experiences.In the last charpter,it explains the insufficiencies in the thesis and the expectations on future researches.