The debt to equity swap debt and offbeat Microcosm Dongbei special steel Sohu Finance Bureau-x3210

Debt: debt and miniature offbeat in Northeast Bureau – Sohu finance trainee reporter Liu Fan this year, debt capital market to become the "hot words", behind the debt in debt, by the new old for the plight of the industry form, these industries for many years hovering at the brink of default, and substantive just against the event is also increasing. By March 28th, CDB underwriting "15 East steel CP001 opened the curtain of Dongbei special steel bond defaults. China Steel Group, Bohai iron and steel this year have been broke the default message. Recently, the Northeast Special Steel announced that the short-term financing bonds in 2015 third should expire on September 24th (hereinafter referred to as "15 East steel bond CP003"), as the company continued tight liquidity, debt payment uncertainty, involving a total amount of 744 million 100 thousand yuan. If the "15 East steel CP003" constitute a substantial breach of contract, it will be the ninth round of Dongbei special steel, the cumulative default amount will exceed 4 billion 300 million yuan, become a breach of the king. "". CDB financial data disclosure, as of 9 at the end of 2015, the northeast special steel the total assets of 52 billion 726 million yuan, total liabilities amounted to 44 billion 473 million yuan, asset liability ratio 84.35%, face greater liquidity pressures. In recent years, because of delinquent loans, northeast special steel has many times by the Supreme People’s court included in the list of dishonest debtor. Debt is like a snowball. In July this year, the Northeast Special Steel many default, creditors have come, and organized a series of meetings, the Northeast Special Steel throws debt solutions, put forward "to retain 30% of financial debt by 70% the proportion of equity, debt equity swap is completed, the original creditor into the listed company in the capital market exit through the whole listed or assets in northeast". The scheme has caused great controversy. Dongbei special steel is refers to "the promise and then deny in succession". After the northeast special steel made a commitment not to engage in debt, taofeizhai, bond principal and interest payment. In fact, as early as 18 years ago, the country launched a round of debt restructuring in Northeast Dalian iron and steel (Group) the predecessor of limited liability company has become the object of reform. When the debt is to solve the dilemma of high debt companies, has experienced a period of stable development. 2006, the company achieved a total profit of 125 million yuan, asset liability ratio of 66.97% in 2007, the total profit of $195 million, asset liability ratio of 65.85%. In 2011, Liaoning province SASAC website has published an article, said the Northeast Special Steel Group debt repurchase work lasted more than 3 years, have been put into practice, the provincial SASAC Dongbei Special Steel Group’s equity ratio rose to 62.8%, a resolution to the provincial SASAC as the first major shareholders, to achieve absolute control of Dongbei special steel group; on the other hand, to solve the historical problems, straighten out the relationship between equity of Dongbei special steel group. Now, when a new round of debt / deja vu debt, once again to quack emergency". But the passage of time, debt can become a "life-saving straw", there is still a huge.相关的主题文章: