Yintoni ubuhlobo: Iimbalasane

Ngoko ke, yintoni na ubuhlobo? Imeko ishishini ezibandakanywa kule kota izibambiso amadlozi ityala, iphambili leyo kuthathwa ukuba ukuzimisela, ubuso bakhe ngaxa lithile ukuhlawula umnini imali elikhankanywe kuyo, yaye inzala (izixhobo coupon). Ngokungafaniyo esitokisini kuyinzuzo kuye ezisisigxina. Lowo ekhuphe ngokuzikhanyeza, ebizwa ngalo umsebenzisi. It inokufana umbutho, ulawulo kwamagunya aphezulu kumanqanaba ahlukeneyo, iinkampani amazwe kunye namazwe lonke .

Umba bond mazenziwe ngexesha eyahlukileyo - ukusuka komnye unyaka ukuya kumashumi eminyaka. Nabani anazo libizwa umnini kolu xwebhu. Ngokungafaniyo yokudlulisa mboleko aqhelekileyo kwamalungelo amabango amatyala enjalo akudingi iinkqubo enkulu yokususwa. Ukuthenga bonds ezithengisa phambi lokuvuthwa mazenziwe ngokuphindaphindiweyo. Xa kuthelekiswa nezinye izibambiso equity - sokubambisa, ukuze sikwazi ukubona umahluko omkhulu. Yintoni ibhondi - yinto impahla otyalwayo ilungelo lokufuna ukuba mazibuyiswe ye elikhokhelwa yona kunye nenzala. Akunamsebenzi ukuba umnini ukuba umnini izabelo yinkampani ezikhutshiweyo, kwaye uthabathe inxaxheba kumsebenzi ukukhutshwa yenkampani.

Ngaphezu koko, bondholders banelungelo olukhethayo ukubuya kwemali mboleko ngokunxulumene abanini lezabelo unelungelo izahlulo. Le isimiso siyagcinwa xa kuthe imilinganiselo ye umnikeli. ukuhlalutya le uluvo oluthile, ukuba umtshato onjalo, kunokwenziwa isigqibo ukuba irobust ezongeziweyo zokhuseleko, ngaphezu amanyathelo. Ingakumbi ukuba ikhululwe naliphi na ilizwe chu asakhasayo, uye asethi elungileyo. Kwezinye iimeko, oko kwenziwa uguqulo izabelo kunye neentambo.

Njengazo naziphi na izibambiso, beza kwiintlobo ezahlukeneyo, kuxhomekeka kwiimpawu ezithile. Yintoni ngokuzikhanyeza, xa kujongwa ezi zizathu? Kusenokuba eyahlukileyo ngokodidi kunye sobunyani kwekota mboleko, njengoko kuchaziwe apha ngasentla. Apho uphawu yesibini zinokohluka nje kuphela ixesha kwexesha, kodwa utshintsha izakhono zalo. Ngokukodwa, eli phepha esisigxina nokuvuthwa engenalo. Kuxhomekeka iqondo lobunini neentambo zinokuba bearer nabhaliswe (xa umnini kubonisiweyo uxwebhu iincwadi irekhodi leyo).

Ezi ityala izibambiso kunikezelo lungahlukaniswa kwi ekujoliswe (kuba ngezimali iiprojekthi ezithile) kunye eqhelekileyo. Indawo yokuhlala uhlobo bond sibe free nokunyanzeliswa lnym. Kukho kwakhona ngokuhlelwa ngokohlobo lokubuya kwemali waboleka (ngokohlobo ngokomzimba emali). Licinywe ityala nga esisixa okanye ngezavenge.

Ukongeza, izitropu zihlelwa yi indlela yentlawulo: umdla kuphela, ngegama kuphela, isixa ezimbini ezidlulileyo ngexesha kwetu, lahlukene, ingeniso ngamaxesha esisigxina kunye isixa inqununu ekupheleni kwekota mboleko. Izinga coupon inokuba nomahluko (ezidadayo ngokufanayo ukwanda, Minimal engumxube, akaguquki). Amaphepha ukuze zijikwe and vice versa, yaye kufuneka kucalulo kuxhomekeka collateralized.