The definition of solvency is up in the air as debt burdens are refinanced at ever longer maturities. 偿付能力的定义仍悬而未决,因为债务负担正通过更长期限的贷款获得再融资。
Some of these loans have been restructured with new collateral transferred to banks, while others have been refinanced through bond issues. 其中一些贷款通过向银行提供新的抵押品进行了重组,还有一些通过发债进行了再融资。
Russian companies and banks have been forced to build up hard currency reserves to pay off more than$ 40bn in debts falling due in November and December that would have once been refinanced almost automatically in the west. 在被西方制裁期间,俄罗斯企业和银行一直被迫建立硬通货储备,以偿还将于11月和12月到期的逾400亿美元的债务,以前,这些债务将几乎自动的在西方获得再融资。
Russian companies have$ 120bn in repayments and interest due on external debt next year, according to the central bank, which estimates that about$ 70bn of that debt will not be able to be refinanced. 根据俄罗斯央行的数据,明年俄罗斯企业到期应还款和利息规模为1200亿美元,该行估计这些债务中大约700亿美元将无法再融资。
Of course, very aggressive interest rate cuts would help reduce the impact, especially in countries with variable-rate mortgages such as the UK or Spain, or where mortgages can be easily refinanced, such as in the US. 当然,非常激进的降息举措可能有助于缓解这种影响,特别是在英国或西班牙等提供浮动利率抵押贷款的国家,或美国等容易进行抵押贷款再融资的国家。
That means there will be a steady supply of debt that needs to be refinanced until 2014, particularly in the coming months. 这意味着,会不断有债券发行人需要在2014年之前进行再融资,特别是在未来几个月。
Several trends that buoyed underwriting last year, such as banks'rush to raise capital and the boom in bond issuance as companies refinanced at low rates, have fizzled. 去年,各大银行纷纷募资提高资本充足率,其他公司也趁着低利率进行债务融资,债券发行大行其道,这波融资浪潮使得去年承销业绩水涨船高,不过融资潮水现已退却。
The problem could be thrown into relief when billions of dollars of ABCP mature today and on Wednesday, with great uncertainty as to whether this can be refinanced. 这个问题可能在本周就必须要面对了,将有数十亿美元的资产支持商业票据到期,能否实现再融资存在很大的不确定性。
Now there are insolvency rumours in the air, and many leveraged companies are not getting refinanced. 现在到处都是破产传闻,许多负债企业无法获得再融资。
Conscientious lenders could also nudge people to get off the refinancing merry-go-round, by suggesting that the term of the loan be shortened when a loan is refinanced. 认真负责的放贷机构也可以提议,如果对债务进行再融资,就缩短债务偿还期限,从而推动人们离开再融资的旋转木马。
Even though homeowners who refinanced at low rates would be "locked in", there would be nasty consequences from rising rates. 虽然以低利率再融资的购房者会被“锁定”,但利率上升还是会产生恶劣的后果。
Several bought back large amounts of outstanding debt and refinanced existing debt by issuing longer maturities on more favorable terms. 一些国家回购了大量未偿债务,而通过发行偿还期更长条件条件更优惠的债券来对现有债务进行再融资。
"We continue to benefit from the sell-out of Old Trafford and the growth in commercial operations." We refinanced back in2006 and that structure provides long-term stability. “次贷危机不会给曼联带来负面的压力,”他说“我们依旧在从出售球票以及各种商业活动中获利。
Institutions were no longer financing themselves by issuing lots of short term debt that had to be repeatedly refinanced. 机构不再通过发行大量短期债券为自己融资,而这些短期债券必须不断再融资。
Investors say the number of ABI committees set up in the past year or so has stepped up markedly as more long-dated debt is being refinanced. 投资者称,由于有更多的长期债务进行再融资,在过去一年左右的时间中,新设立的英国保险协会特别委员会数量有了明显的上升。
( In any case, most US energy bonds do not even need to be refinanced for another couple of years.) (无论如何,多数美国能源债券甚至好几年都不需要再融资。)
A vast backlog of bonds that need to be refinanced over the next year has built up in the emerging market economies, raising the threat of defaults and company closures. 新兴市场有大量债券需要在今后一年得到再融资,这加大了违约和公司倒闭的风险。
Apart from the above issues, the management of the refinanced capital may also bring risks to the listed companies. 除此,再融资的管理问题也给公司带来了很大的风险。
The performance of listed companies will be influenced by refinancing costs and the use of fund refinanced from securities market directly, besides the capital structure which has been changed after refinancing could also make influence to the performance indirectly. 上市公司进行再融资后,其融资成本和募集资金的使用会对公司经营业绩产生直接影响,同时因再融资导致的资本结构的变化也会对公司经营业绩产生间接影响。
All parties have focused their attention on which the listed companies refinanced. 上市公司再融资问题一直是各方关注的焦点。