摘要
近年来,我国信用债市场发展非常迅速,但与此同时债券违约事件频发,违约主体已逐步从民营企业扩展到国有企业,违约风险不断扩大,不仅给投资者债权人带来了利益损害,信任危机也引发了债券市场较大的波动。东北特钢因不能按期足额偿付8亿元短融债"15东特钢CP001"的本息,成为我国第一家地方国企公募债违约企业,打破了我国地方国企公募债券刚性兑付的惯例,其后半年又陆续8次违约,违约次数之多引发社会热议。本文将以东北特钢集团为例,分析其违约的深层次原因,旨在提出相应的对策,以达促使债券市场良好发展的目的。
In recent years, China＇s credit market is developing very rapidly, but at the same time, the bond default events happened frequently, the default subject have been gradually extended from private enterprises to state-owned enterprises, the risk of default continues to expand, not only brought damages to the interests of creditors, the crisis also triggered a larger volatility in the bond market. Dongbei Special Steel has become China＇s first local state-owned enterprises of raising debt default. Because it cannot pay in full amount of 800 million yuan short bank debt of ＂15 East Special Steel CPO01＂ principal and interest, breaking the local state-owned enterprises raised rigid bond payment practices, and the next eight defaults have aroused heated debate in the society. Taking Dongbei Special Steel Group as an example, this paper analyzes the deep reasons for its breach of contract, and aims at putting forward corresponding countermeasures so as to achieve the goal of good development of the bond market.
出处
《财务与金融》
2017年第3期21-25,共5页
Accounting and Finance
关键词
东北特钢
债券违约
风险
对策
Dongbei Special Steel, Bond Default
Risk, Countermeasures
