债券发行条件

可转换债券发行条件设计的技术分析

Technical Analysis of the Design of Indenture for Convertible Bonds

如果贷款人必须收回资金，优先债务享有最优先的求偿权，则对借款人而言，该债券发行条件可能会负担较轻。

Senior debt earns high priority if lenders have to reclaim funds , hence the bond issue terms can be less onerous for the borrower .

综合考虑可转换债券发行条件中所涉及的相关因素，以公司总价值最大化为目标，建立了转换速率与公司资产变化量之间的关系模型。

Considering the factors related to the issuance of convertible bond , a model is developed to express the relationship between conversion rate and asset variation of the firm issuing the bond with the maximization of the firm 's gross assets taken as the objective .

我国可转换债券的发行条款执行条件多为有条件执行，其定价方法更为复杂。

The executing conditions of the provisions of Chinese convertible bonds depend on stock prices , which make pricing more complicated .

可转化债券是一种新型金融工具，在发行条件设计方面还存在很多问题，通过运用金融工程的分析方法，对可转化债券发行条件设计进行技术分析。

The convertible bond is a new financial instrument . There are still many problems with the design of indenture .

（三）公司申请其债券上市时仍符合法定的公司债券发行条件。

And ( 3 ) The conditions for issuing the bonds shall be met at the time when a company applies for listing its bonds .

运用泛函变分原理，求出最优转换速率，并且进一步得到可转换债券的最优发行策略，为可转换债券发行条件的设计提供了一种新的方法。

The functional calculus is introduced to determine the optimal conversion rate so as to optimize the issuance strategy of convertible bond , thus offering a new way for the design of original indenture for convertible bond .

通过研究洪水保险债券的运作模式，分析了我国洪水保险债券的发行条件与发展思路，指出洪水保险债券为我国防洪减灾提供了可资借鉴的崭新方法与工具。

By studying the operating mode of flood insurance bond , this article expounds the developmental perspective of flood insurance bond in China and points out that flood insurance bond provide us a new financial tool to control and reduce flood disasters .