Chapter 581: Corporate bonds

hospital.
Li Dong hung up the phone and frowned slightly.
Unexpectedly, Longhua's influence is so great that the banks are not connected, which is not in line with the style of the banking industry.
Greenland is not a small customer, let alone an industrial mortgage, it was so easily rejected by the merger proposal, I am afraid that Longhua did not bleed less.
Slightly breathing, Li Dong calculated himself secretly.
1.6 billion, he can't get it right now. Before that, he had prepared 1.5 billion in capital. Now that supermarket grain and oil are being shipped on a large scale, it is no problem to get 100 million.
But as Wang Pengfei thought, Li Dong is really under a lot of pressure once he now takes out 1.6 billion in cash.
In the next three months, he has to pay the remaining 800 million M & A for the green space.
Others include 2 billion yuan for land and 1 billion for Longhua. He has transferred 500 million yuan from supermarkets to develop markets in the three provinces, and he has to make up for it. The malls and logistics companies are similar.
In addition, the loans and mergers and acquisitions before the era have to be repaid. Together, Wang Pengfei ’s 5 billion and 6 billion are enough!
The current source of funds for distant places is only the profit of supermarkets.
However, the markets of the three provinces have not been developed, and the times have fallen into the quagmire of southern Jiangsu. At present, they only rely on the profitability of one place in Jiangbei. It is good to have 300 million in three months.
Coupled with these dozens of billions in hand, only two billions have been made.
In other words, Li Dong had to raise at least 4 billion yuan within three months.
Even if he sells his stocks, he can't afford so much money, unless the next month's property market can be warmed up, so that he still has a batch of real estate plus green space real estate, probably can sell about 2 billion .
But whether the property market can pick up in a short period of time is really difficult to guarantee.
Li Dong frowned, Shen Qian, who was helping him pack his clothes, couldn't help but ask, "What's wrong?"
"Banks do not agree with Pengfei M & A, either repay the loan or replace it with Longhua."
"Banks manage to be quite wide." Shen Qian slightly ridiculed: "Xu Shengzhe's state is obviously a bit wrong now, and he relies too much on conspiracies and tricks. For enterprise development, conspiracy alone is not enough, and sometimes the upright is king.
The conspiracy is only incidental, not the mainstream, and Xu Shengzhe may suffer a big loss in the future. "
"I don't know if he will lose money, but I know that I have a lot of problems now. I spent 800 million more cash flow at once, and I'm in trouble here."
"What now?"
Shen Qian was also a little embarrassed, thinking for a while: "It is indeed a bit difficult now in the distance, and the shortage of funds is too serious. While raising funds is still a large amount of money, there are not many ways that can be thought of at present.
First, plan to go public.
However, this requires time to prepare, not to mention that you are not necessarily willing, so it is not feasible to operate a remote listing.
Second, find bank loans.
This is okay. ICBC has been working with Longhua for many years. The relationship is too deep. We do n’t need to find it. However, we have also cooperated with CCB for a few years. The loan should still be able to borrow a little.
But the amount may not be as high as we thought, after all, the bank is not opened by us.
Third, find private equity funds.
This is probably the simplest and easiest at the moment. The profitability in the past two years is still good. Someone has talked to us before.
Now that we are expanding far away, finding private equity funds to raise a sum of money should not be a problem. "
Li Dong frowned: "I know from the private equity side. Last time I met a manager of a fund association. The conditions they offered were to participate in management and also control some of the equity. The equity aspect is because these guys say they can redeem Come, I don't have much opinion.
But they are involved in management, what should I do?
With the addition of third parties, the company can no longer operate exactly as I wish. This is unacceptable to me. "
Shen Qian said a little helplessly: "If you want to get something, you don't want to pay anything. You just want someone else to lend you a lot of money for use, making it impossible.
Of course, according to your wishes, we still have a way to go. "
Li Dongwen said with interest: "Which way? Well said in advance, I am unwilling to let the equity fall, and I have to hold the management right."
"You want to do something good! But this method really meets your requirements."
Li Dong said that he didn't believe it. In fact, he knew that his requirements were too strict. In addition to Shen Qian, who wouldn't ask for money, he would lend him a lot of money.
But Shen Qian explained to him next: "Have you heard of corporate bonds?"
When Li Dong heard it, his eyes flickered and said: "I heard that, did you mean?"
"Yes, we can prepare to see if we can pass the audit and issue a batch of distant corporate bonds. This thing will neither share your shares nor allow third parties to intervene in our management.
The only thing that needs to be done is to bear part of the interest, but the issuance conditions are a bit harsh, plus our far-reaching reputation is not big enough, it is difficult to say if there is an audience.
If the issued bonds are not subscribed to, it would be a joke. "
Shen Qian's next words didn't pay attention, but murmured: "Corporate bonds ... Corporate bonds ..."
This is not the first time he has heard this term, but he has noticed it once before.
It was March this year, and he accidentally discussed the feasibility of a corporate bond with Sun Tao.
Of course, he is not discussing this for no reason.
In March 2006, China Resources issued a corporate bond with a face value of 3 billion yuan.
At that time, the bonds issued by China Resources were quickly digested by the market, which made Li Dong really envious for a while. It was not just China Resources that easily raised 3 billion yuan.
It is the credibility of the other party!
The coupon rate is 4.05%, which is a little higher than the bank interest rate. Such an issue rate can be quickly digested by the market. This scenario is a far-reaching achievement.
Suddenly listening to Shen Qian talking about this, Li Dong suddenly thought of China Resources.
After whispering for a while, Li Dong's eyes flickered: "Is it possible from a distance? At present, domestic companies that issue bonds are either listed companies or state-owned enterprises. The distance is only a private company, and only one of my shareholders can pass the review of the Development and Reform Commission? "
"The Provincial Development and Reform Commission has little problem here, and it is difficult for the country to say that. The issuer of corporate bonds must be a joint stock company or a state-owned enterprise. If we want to issue bonds smoothly, we must change the company system from a limited liability company to a share. Limited company.
In this way, you have to take out some of your shares.
Of course, this is only a change in form, you can put the shares on the head of your uncle and aunt, these problems should not be big. "
"Then if we pass the review, how many bonds can be issued from afar?"
"According to the regulations, only bonds that are no higher than 40% of the company's net assets can be issued. The net assets of Yuanyuan are now about 7 billion yuan, which means that the maximum is only about 2.8 billion bonds. In fact, 40% of this point It ’s difficult to achieve, and it ’s hard to achieve 30%. It is still hopeful to issue 2 billion. "
"Two billion……"
Li Dong calculated that if he could really pass it, he would raise 2 billion yuan at a time, then he would be much easier.
In addition, the company can still make up 2 billion at present, which means that the funding gap is only between 2 billion.
At that time, whether it is stock cashing or real estate picking up, you can deal with one item at a time to meet the remote capital needs.
Moreover, the bond is also easy to use. Two billion bonds are issued by China Resources for 15 years.
The long-distance release does not necessarily mean that someone is willing to start, but in the short-term, the three-year five-year period may still be acceptable.
After all, the distance has developed well in the past two years. Within three to five years, the momentum in the distance should not weaken.
The interest rate is a bit lower than China Resources' 15-year period. At a 4% interest rate, the interest rate is only 80 million yuan a year.
80 million issuance for three years, that is 240 million, plus the issue cost will not exceed 300 million.
It costs 300 million yuan in exchange for 2 billion of working capital to help yourself through the difficulties and overdraw 2 billion without any care. In fact, it is still cost-effective for the rapid development of the distance.
After pondering for a while, Li Dong said: "That line, let's go this way! Then you will be responsible for this matter. The company will cooperate with you in all actions and raise 2 billion funds, which is very helpful to us now. But three Can it be completed in a month? "
Shen Qian thought for a while and said, "We can let them speed up in the province. It's not easy on the other side of the capital, but when I ask my dad to find some friends to help me, the problem is probably not very big.
There is also the issue of the guarantor. If a bank is willing to guarantee us, I think three months should still be possible.
I went back to the CCB and talked about it. In the past two years, we have cooperated fully with them. The liquidity of the distant place, including the supplier's funds, are all transferred through the CCB. The issue of guaranteeing them should not be too large.
The last issue is the issue of listing, because we are not a listed company, so we can not list and trade through the exchange.
If you can't go public, you can only rely on our own roadshow, so the audience will be much less.
I'm afraid ... "
"Afraid no one cares?"
Li Dong said her concerns in a word, once the bonds issued by a distant place are not interested, it will be like the company's listing, and the stock price will plummet.
Distant is a private company, but not listed, but it is not afraid of any stock price decline.
As for the market value being underestimated, Li Dong does not really matter.
The main fear is that it will cause a chain crash. Once no one is interested in the bonds in the distance, the public will question the credibility of the distance.
Ordinary people doubt that the relationship is actually not that great. What about suppliers who can cooperate with distant places?
And the reputation of real estate companies will also suffer a major blow, these are issues that have to be considered.
Shen Qian nodded slightly: "I'm worried about this. After all, we are just private companies. There is no state guarantee behind China Resources and other companies. If we can't provide a decent guarantee, others will not necessarily accept our bonds. "
Li Dong tapped his finger lightly and thought for a while: "What if we make a big move from a distance in a short time? For example, market development in three provinces and the acquisition of green space, all of which can increase the credibility of our enterprise. Some big plans, will our reputation soar in a short time, right? "
Shen Qian frowned: "The big plan? Do you think our plan is not big enough? If you still have big moves, it is best to slow down. At this time, we really can't hold it. The outsiders may not understand it, maybe they I also feel that we are so tall and worried, even more worried. "
"This is also true."
Li Dong was helpless and sighed, "What should I do?"
"Hey, let's think about it at that time. After all, we are still just a plan. Maybe we can pass the review by the China Securities Regulatory Commission and the National Development and Reform Commission."
Upon hearing it, Li Dong felt that he was a bit worried, and nodded: "The plan will be carried out first, and we will wait until the specifics are passed. If the audit fails to pass ~ EbookFREE.me ~ Now there are no more plans, it is really waiting to pass. , I'll think of another way. "
In marketing planning, Li Dong from later generations has also seen many successful cases.
Anything worthless can be sold by others.
Moreover, the distance is not worthless, but it is also a large group of tens of billions of assets. Other places dare not say that in the area of ​​Jiangbei, the distance is still somewhat mass-based.
By then, as long as the planning is done better, 2 billion is really not too much to say, nor is it impossible to raise.
Putting this aside for a moment, Li Dong said: "No matter whether it can pass or not, M & A green space has reached this stage, I definitely can't let go. I will let Wang Pengfei let go and do it. Next, we will tighten the belt. ready.
As long as you survive the next few months, the future will be bright! "
Shen Qian watched him shake his arms and shake his arms, with a vigorous look, his eyes could not help revealing a fascination.
Is n’t this Li Dong ’s obsession?
What a momentary difficulty is!
As Li Dong said, once the green space is acquired and the three major provinces have been developed, supermarkets and real estate will go hand-in-hand, together with the mall and logistics efforts, the future prospects will be bright.
Now, there may be many difficulties in the distance, but there are Li Dong and herself in the distance. One day, she will let everyone know that even if you don't rely on anyone, the distance can go far and far!
By that time, who dare to say that Li Dong relies on luck?
He is not a second-rater, nor a big bull who can only lose his temper. He is Li Dong, no one can replace Li Dong!
PS: The new book of the friend, the author of the boutique, is that the last book is harmonious, and now we are fighting again, I believe that we will not let everyone down.