Correct understanding and application of debt to equity swap segotep

Correct understanding and application of debt to equity fund Sina exposure table: the letter Phi lag of false propaganda, long-term performance is lower than similar products, to buy the fund by the pit how to do? Click [I want to complain], Sina help you expose them! Correct understanding and application of debt Huang Zhiling theoretically, debt capital itself is only the shape change, and can improve the efficiency of the use of funds of enterprises, only to reduce the debt ratio, the effect produced is short-term debt refers to the creditor and the debtor for the interests of the creditor’s rights into equity relationship. Some people think that the debt creditor debtor is forced by a last ditch deal with bad debts; some people think that the creditor is the debt to equity swap is an initiative behavior to strengthen the control of the customer or to the pursuit of high returns. According to the different nature of debt can be classified into commercial debt to equity and debt to equity swap policy. The world is dominated by the government policy of debt is relatively common. The government debt policy of debt refers to some countries in economic crisis or corporate debt burden, the government introduced through debt package and related laws and policies, seek to resolve the problem of debt, corporate restructuring, structural adjustment etc.. According to the purpose and characteristics of the national debt, some time, can be on the international debt is divided into the following four stages. At the end of 1970s to the end of 80s the Latin American debt equity swap debt for equity swap began in the late 1970s and early 80s in Latin America, due to a serious debt crisis in the region. The Latin American debt usually by foreign enterprises with certain discount rate to buy bank debt, then these foreign enterprises to the country’s central bank debt for local currency debt, earmarked for the purchase of the country ownership. The result is the existing debt into equity, amortization of principal and interest have been exempted, foreign enterprises will obtain direct investment returns. Among them, Brazil began to implement a debt equity swap program from 1978 to 1984 due to too many restrictions, had to be terminated; Brazil in 1988 to start a new round of debt, because conditions are too loose and evolved into pure speculation. Mexico from 1986 officially launched the debt equity swap of debt to equity swap plan; Argentina began in October 1987, due to fears of currency instability and inflation and slow progress, until the 1989 debt began on a large scale; Chile debt equity swap program is one of the most successful and most flexible, not only the conversion of quantity, less attractive to foreign investors, and less government from 1985 to 1991, the country changed about $7 billion of debt, accounting for about 30% of the debt of foreign commercial banks. The Latin American debt to obtain the following results: reduce the foreign debt, from 1982 to 1990, the Latin American debt only increased from $846 billion to $12800; to attract foreign investment, with the help of privatisation plans in restructuring; debt to effectively curb the "capital flight"; help the banks to get rid of the non operating debt burden on相关的主题文章: