As reported by Financial Times, the world’s major companies since the beginning of the year attracted a record sale of bonds of 353 billion dollars – is for 224 billion dollars more than the commitments that they have to repay by the end of the quarter. With difficulty bank lending to corporations seeking to amass liquidity cushion. Some of these funds can be directed to mergers and acquisitions. But for now, under conditions of uncertainty, companies are sitting on money bags that could adversely affect economic activity. According to Dealogic, which results in the British edition, from the beginning, companies around the world attracted by selling debt instruments to $ 334 billion mainly to such a mechanism to raise funds seek large corporations with investment grade ratings.
And the purpose of such capital raising are not limited to the repayment and servicing of existing debt. According to Dealogic, before the end of the first quarter of the world’s corporations need to cover the liabilities amount to $ 129 billion only remaining company funds held in reserve pending clarification of the economic outlook. Experts note that, attracting surplus funds, companies try to replace hard-to-bank lending and reduce the downside risks to credit rating. “Companies are implementing a large-scale capital raising in the conditions when banks tighten their approach to customers. Many companies have open lines of credit from banks, but because of the crisis, these funds or are not available, or the conditions under them became unprofitable. Rating agencies take into account these line as the company’s liquidity and to avoid the downgrade, the company must replace them by finding other sources of funds “- said an analyst with RBC daily Julius Baer Marcus Allenspah.
Another reason for the large-scale corporate borrowing may be the preparation of individual companies to mergers and the desire to benefit from the collapse of the stock market. ‘Obviously, if a company has cash reserves, now is the time to purchase. Better yields always indicate the purchases made during times of economic downturn ‘- quoted by Bloomberg partner of law firm Sullivan & Cromwell LLP Frank Aquila. Transactions of this kind have occurred recently. For example, last week Swiss pharmaceutical company Roche Holding has announced its acquisition of biotech company Genentech for 46.8 billion dollars, to finance which has attracted a bond issue of more than $ 30 billion, however, until such transactions are rare. Experts note that the heads of many companies are considering acquisitions, however, fear that the bottom has not yet passed. In addition, there is a likelihood that in the event of further deepening the crisis accumulated financial resources may require companies to their own survival. Ultimately, however, idleness of these funds only delays the exit from the crisis. ‘In the current volatility, it is impossible to confidently predict future cash flows, corporations want to be confident in its liquidity.
Reflexivity, maturity, security, payment … Crediting arose simultaneously with the appearance of money, and possibly earlier. – Since then – a man can not refuse the opportunity to get what you want now, but pay later. Craig Menear may also support this cause. Credits gained wide popularity in the modern world. – Developed credit market contributes to the development of a market economy, because with it as quickly and efficiently means redistributed to the most profitable areas of activity. To date, lending market in Ukraine froze. safety-brake-clutch-safety-bra/’>Cushman and Wakefield.
– The banking system is one of the first felt the onset of economic crisis and now long time before recover from its effects. Most banks in Ukraine and stopped lending altogether. The remaining conditions have tightened, interest rates have risen significantly. Get a loan from the Bank to date has not simple and expensive. Alternatives to conventional bank loans became collateral lending.
Pawnshops have begun to lend not only to bail jewelry or appliances, as well as actively lend bail Car (Pawnshop), and even real estate (mortgage pawnshop). Number of financial institutions providing loans secured by automobiles and real estate is growing every day. Lombard lending differs from already familiar bank loans. The main difference is the term of the loan offered by pawnshops, which is on average from one to several months or, at best, up to one year, in contrast to several years which were given bank loans. Pawnshops provide short-term loans. One of the reasons interest rates are so high that long-term loan at a pawn shop just simply is not profitable.
November 14 in the conference hall of hotel "Central" was a business forum "Financing, credit and insurance small business region. Prospects for development in the context of the global financial situation. " At the conference, were representatives of leading banks, such as OTP Bank, Bank VTB 24 "," NOMOS Bank, support fund for lending to small and medium-sized businesses in Moscow, a group of Renaissance Insurance, as well as chairman of the Nizhny Novgorod Regional offices SUPPORT Russia and representatives of ITC NSU them. NI Lobachevsky. Average and small business in Russia is developing, but the main problem is lack of funds for its development, and one of the best its decisions – lending. In the current global financial crisis, it has become very complicated, and every day in business there are more questions about lending to small businesses.
Birman Dmitry Petrovich, chairman of the Nizhny Novgorod regional branch of the SUPPORT of Russia, said that the proposed large complex of measures to resolve the situation (tax-free installments for 1 year various moratoria) and it is possible that some of them will be approved by the state. In any case, the crisis has already happened, and that we do not change, and in any case he would ever end. Many writers such as Technology author offer more in-depth analysis. Therefore, the important thing now is to remain calm and protect your health. Foundation for Assistance to Small Business Lending in Moscow stands surety for the issuance of loans to entrepreneurs. Its leading specialist, Karpel, SG, introduced the guests to the statistics and highlighted the main directions of this foundation. After the speeches, representatives of banks, the guests had many questions. Now one of the most urgent problems is to raise interest rates on loans. Bankers tried to explain that the growth rate is inevitable, because bank is the same shop, and prices there are also increasing.
Amid the global crisis it is impossible not to tighten the requirements for borrowers. Interest rates will rise, and there's no getting around it. AND this is a forced measure, not speculation. "Therefore, the time will have to reduce their appetite for loans," – said Karisalova NA, vice president of Bank VTB 24. Source
May 27, 2010 at 16 o’clock in the discovery of Business Incubator of the Academy of National Economy under the Government of the Russian Federation held a press conference: “Business Incubator – a new pillar of innovation.” The press conference is attended by: Vladimir Mau, Rector of the Academy of National Economy under the Government of the Russian Federation, Alexei Komissarov, head of the Business Incubator of National Economy under the Government of the Russian Federation, a businessman, a teacher in the Kingston MBA ANE, Alexei Teleshev, Director of the Seed Fund Russian Venture company; Igor Chesnokov, head of analysts Integrum a report “State of the Russian market for innovative start-ups and venture capital” Press Conference will bring together the brightest Representatives of innovative business: innovators, investors, carriers of ideas, startup, business people working in the innovation sector. You will have the opportunity to learn about the real state of the Russian business incubators and their role in the innovation course of Russia – from ‘first hand’. Business incubators – a new phenomenon, but has been firmly subsumed into the Russian reality (daily, Yandex. News “appears at least 5 news of business incubators across the country). The purpose of the press conference – to provide information about the different types and purposes of business incubators, the status and trends of innovative industry, on projections of its development.
The event is to open a business incubator in the ANE Presentation of the Government of Russian Federation will continue bright start-up projects, presentation of successful businessmen working in the innovation sector. Details on the website:. The press conference participants are waiting for a delicious symbolic Surprises Date: May 27, 2010 Time: Beginning Press Conference 16:00 17:00 Presentations Start Address: Moscow, Prospekt Vernadskogo, 82. Academy of National Economy under the Government of the Russian Federation (1 case) LOCATION: The public transport: 1) Metro Station “South West”, the last car from the center out of the subway – to the left and on the street on the right stairs. The main landmark – a blue glass building in the form of crystal that you want to bypass the right side. Immediately after the glass buildings is a passage of the Academy of National Economy.
5-10 minutes walk. 2) Metro Station “South West”, the first car from the center out of the subway – to the left and on the street on the right stairs. Further, one stop on the bus number 227 or the number 667. By car: By Vernadskogo from the center toward the metro station “South West”. Before reaching the subway station “South West”, turn right at the traffic lights on the street. Koshtoyants, then – to pass the ANE. Reference: Business Incubator of the Academy of National Economy under the Russian Government – a non-profit site designed to help budding entrepreneurs and innovators. The objectives of the incubator are: Provision infrastructure and comprehensive services to budding entrepreneurs, Implementation received ANE students in learning knowledge; Promoting innovation economy of Russia; Incubator is open, ie his residents can be both students and alumni of National Economy, and people who had no prior relationship to the Academy. Head of the Business Incubator – Alexey Komissarov. Contacts for accreditation and additional information: Press Secretary Olga Shevchenko +7 (903) 117-32-23, (495) 723-68-55 o@msk-pr.