Concept neendidi neentambo

Iqhina - yi yokhuseleko ezikhutshiweyo, apho, kunye inqaku promissory lisisixhobo ityala. Bondholder kwi nokutshintshwa wakhe ulindele ukufumana ixabiso ubuso tyalo kunye nenzala ihlawulwa ngexesha elithile. Yiyo le nkalo kwiqhina: Iintlawulo prolixity ngexesha, elifuna ukuba kunzima ukuqikelela ixabiso iqhina.

Njengomgaqo, benkampani bond ukuvelisa olu hlobo zokhuseleko yokusebenza eyinkunzi ngenxa mboleko eyinkunzi. Ngesi msebenzi ngumthengi kunye imixokelelwane umbolekisi kuyafana umthengi ithatha iingozi zemali ukuba nazo zithathelwa ingqalelo xa kusenziwa uvavanyo. Ukuthandwa olu hlobo mboleko ilula: imali bonds ezinxulumene usemngciphekweni osezantsi kakhulu kutyalo-mali (imali kuyo), ukwenzela ukuba umtyali lula ukubala ingeniso ikamva lakho ukubala inzala kwimali ukhuseleko. Umngcipheko olungagqibekanga, nangona ezincinane, uhlale khona, kunye nokuchaneka uhlahlelo kukuthembeka umnikeli aya kuthi kwakhona zithathelwe ingqalelo xa ehlolisisa izitropu. iindlela imixokelelwane evaluation ziyafana for ezinye izibambiso ezifana amatyala okanye izatifiketi dipozithi (iindlela ingeniso kunye neendlela zothelekiso).

Okokuqala, zingalujongi nokuphuma kwemali kuthathelwa ingqalelo non-simultaneity ye iintlawulo phetshana kunye neemali ezifunyenweyo zifakwa kunye umdla phetshana iyonke, uphoswe kwindawo ethile ngexesha. Eli nani idityaniswe ixabiso ibhondi ngesaphulelo ngelo xesha, oko kukuthi iphoswe umzuzu ngoku.

Ukwanda benkampani kunye abathengi bond zibe nefuthe kuyingenelo kwi emarikeni zemali xa iyonke, kuba idala imithombo ezongezelelweyo kweemali-mboleko, ukongeza kwimali-mboleko. Kodwa ke, kwangaxeshanye, ukukhula kwinani benkampani kunye yebhanki ngemali intengiselwano olubekwe yi izibambiso ulwelo kakhulu kungakhokelela ekulahlekeni nemali.

Ukuba kukuxelela ingqiqo yesifundo kunye neendidi bonds, oko kufuna kwakhona uviwo eneenkcukacha Iimbophelelo ecetywayo kwi iinketho kwiimalike zemali. Ekubeni kukho into eninzi iibhondi ezahlukeneyo, kodwa zahlulwa ngezizathu ezininzi.

Kuxhomekeka okhupha ezi izibambiso, kukho ezi ndidi zilandelayo neentambo: zikarhulumente, zikamasipala, loshishino, amazwe. Ixesha lokukhululwa ukwahlula ezi ntlobo iibhondi, njengoko imixokelelwane umhla ezicacisiweyo ekuvuthweni ngaphandle sexesha elimiselweyo. Yangaphambili, nayo, unokuba elifutshane, eliphakathi nezexesha elide. Iqela lesibini abakuluhlu oluphezulu: elingunaphakade, iibhondi callable (ukuba ingakhutshwa phambi kokuphela kwekota), bonds ukuvuthwa ekunene, sandisiwe zila. Umahluko phakathi ezongeziweyo zila kukuba lo wokuqala uyakwazi ukulandisa ixesha elisikelwe kufunyenwe ixabiso wesiqhelo kunye ngaxeshanye kuqhubeka efumana inzala yalityaziswa nje Ungasa okanye elinye umhla wentlawulo.

Iintlobo neentambo yelifa order: ebhalisiweyo okanye zakhe. Ukulungiselela iinjongo zale umba isibopho zahlulwe ezo bakhonza ukuba refinance wabaxolela umnikeli kunye nezo zisetyenziselwa ngemali iiprojekthi ezithile zotyalo-mali. Kuba yokuhlala ukuthini: ngokukhululekileyo ngenkani ibekwe. Ngu indlela lokuhlawula ixabiso par: intlawulo enye bokudlala ukwabiwa kwexesha, intlawulo ukungaguquguquki.

Iintlobo ndisezintanjeni ngenxa yohlobo unyango: non-zijikwe kunye ukuguqulelwa. Ukuqinisekisa: ingeniso yafumana engakhuselwanga. Ukuhlawula imixokelelwane isivuno coupon ingalungiswa-izinga, ezidadayo izinga coupon kunye ngokufanayo ukunyusa izinga coupon, otheni / zero coupon, ahlawule-ukhetho, yaye imixokelelwane ekugqibeleni mixed uhlobo.