Case Study On Risk Management Of Medium-Term Notes Of H Enterprise

The concept of medium-term notes originated from Western debt financing markets such as Europe and the United States.By virtue of the form of no guarantee and reasonable repayment period,medium-term notes provide new trading ideas and directions for western countries.The appearance of medium-term notes enlivens the stock market of Western bonds by reducing the amount of mismatched funds.In 2008,China issued medium-term notes for the first time,and the issuance was successful and widely praised.Therefore,medium-term notes,an inter-bank debt financing tool,have been developing for more than a decade.As of June 2022,among the existing medium-term notes of more than 54,500 billion yuan,the financing amount attributed to H Province was only 613 billion yuan,accounting for 1.12%of the total stock of medium-term notes.The small number of issued notes and the existing amount imply that there is still a large room for the rise of medium-term notes among enterprises in H Province.This paper selects the medium-term notes publicly issued by enterprise h in 2022 as the research object,analyzes the risk management for the successful issuance,smooth circulation and safe survival of the medium-term notes in the inter-bank bond market,and tries to provide ideas for other high-quality enterprises in H Province to effectively control the risks of medium-term notes and successfully issue medium-term notes.Framework of this paper is divided into six chapters: The introduction is the starting point of this paper.It chiefly elaborates the case backdrop,importance and significance,previous theoretical achievements,innovations and shortcomings of this paper;The second part is the theoretical overview.It mainly introduces the meaning of medium-term notes and risk management and the risk management process of medium-term notes;Again,take enterprise h as a case to introduce the basic profile of the target enterprise,identify and analyze the risks existing in the current medium-term notes,assess the risk levels and the risk control measures achieved;In addition,the paper analyzes the achievements of medium-term note risk management of enterprise H,and puts forward the remaining problems of medium-term note risk management of enterprise H.Finally,it gives suggestions on the optimization of the risk management of medium-term notes of enterprise,which is carried out from four aspects:strengthening the medium-term note risk management concept,improving the medium-term note issuance mechanism,optimizing the medium-term note early warning mechanism and the systematic medium-term note risk assessment system.The risk management of medium-term notes is a complex and systematic work.This paper analyzes and summarizes the risk management process of enterprise H’s medium-term notes.It is believed that the risk of medium-term notes circulating in the inter-bank bond market can be more effectively controlled.It is also hoped that the smooth issuance and safe survival of enterprise H’s medium-term notes can bring enlightenment to other high-quality enterprises in H Province.