A Study On The Financing Of Exchangeable Bonds Of Listed Companies

Whether for listing or to meet the needs of rapid development of enterprises,capital is extremely important for any enterprise that wants to grow and grow.China's capital market is growing stronger day by day,and new financing methods are constantly emerging.Exchangeable bond,a new financing method with the characteristics of equity financing and debt financing,has become the choice of many companies.However,there is some risk in financing by issuing convertible bonds,where the issuer must pay interest to the bondholders at an agreed time.In addition,if bondholders choose to exercise the right to exchange shares,will also affect the bond issuing company's controlling status.This paper summarizes and summarizes the case study of Dalian Refrigeration Co.,Ltd.,namely the issuance of exchangeable bonds by Dalian Refrigeration Co.,Ltd.In combination with the conclusions of domestic and foreign experts and scholars on the financing theory and the case study of exchangeable bonds,and puts forward reasonable Suggestions for the existing problems in the financing of exchangeable bonds.Choose Dalian Refrigeration Co.,ltd.as the research object,by studying the relevant literature,the methods of quantitative analysis and qualitative analysis,the listed company through issuing exchangeable bonds in the way,the paper analyzes the current situation of exchangeable bonds financing,at the same time,taking advantage of the exchangeable bonds financing and the existing problems are analyzed.Aimed at a large stake in a listed company,probes into the use of exchangeable bonds financing bond issuance conditions,combined with a large stake in today's financial position and the underlying stocks guotai junan financial situation,analyzed using exchangeable bonds to finance large cold shares the feasibility and advantage of,although after the success of the bond face some risk,but the risk is controllable,then the conclusion is obtained:It is successful for daleng to issue convertible bonds for financing.The good financial status and credit standing of the issuing company and the target company are important guarantee for the success of issuing bonds.The emergence of convertible bonds provides investors with more stable investment methods and low-cost financing methods.Aiming at a series of problems existing in the financing of convertible bonds,this paper summarizes the enlightenment and Suggestions to improve the financing of convertible bonds,so as to improve the effectiveness of the financing of convertible bonds and promote the vigorous development of China's financing market and capital market.