home Investments Books Інвестиційне кредитування - Пересада А.А.

Інвестиційне кредитування - Пересада А.А.

2.2. See the bank loans and credits

Investments in loans , which are given by banks, can be classified for different visions (see Figure 2.1). Lishe complex pіdhіd up to the view of the bankіvskogo інвестиційного to the credit it is allowed nayapnіshe охарактеризувати їх. At the author's dummy, taka klasifikatsiya є zagalnoyu for all loans, then Bilsh in details are hanged on the quiet types, but nikrasche characterize the investment loan. So, the main types of investment loans are lines of credit, loans, revolving credit, pre-construction projects, credit underwriting. Dali briefly hinges on the skin of them.

Strokovi krediti pіdpriєmtsyam is recognized for fіnansuvannya dovgota serednostostrokovyh інвестицій, such yak komіvlya obladnannya abo budivnitsuto sporud a string of more than one rock. Yak rule, a wrestler zvertaetsya for a great loan, vizhodyachi khostorisu on the project, and potim zobov'yazuyutsya yogo repay seriyami payment.

In this way, the lines and credits are based on the payment of the Maybutn payments to the clients, for the sake of certain zdіysnyuvatimsya postupov repayment of the loan. The graph of the post-paid extinguishment is stored on the basis of the normal cycle of prividivu vidlyuvu gothyvki soup. Loans to string borrowers є basic kapital (sporudy, obladnannya), which to adhere to the borzhnik, і nyomu vstanovlyuetsya abo fіksovana, abo swimming rate vidtsotkova rate. Such a rate I shift the rate for short-term loans in the amount of bolshogo risiku, a kind of pritamny sub-loans.

Fig. 2.1. Класифікація банківських інвестиційних creditів

Revolver credit , neo revolver credit line, allow firmi-borzhnik to deposit koshti in the interstices of the loaned lime, repay the entire sum of the deposit, the abbreviation of the part that is to be reintroduced in the lines of the line of credit and lien. Yak one zaybilsh gnuchkih forms of investment credit vona often nadaetsya without spetsialnogo zabezpechennya і mozhe bouti short-line abo nadavatisya at 3-5 rockiv. Such a form of credit is especially often in the form of vipadkas, if the client can not accurately signify the Maybutn insolvency of the government's abolition of the Maybut's demand for credit. Revolver credit allows you to virivnyati kolivannya within the investment cycle of the project, nadauchi mozhnivist zapozychuvati dodatkovi sumi periyod skorochennya osyagіv voprosyv ta viplachuvati їh in the course of a period, if the approach is good.

The main view of credit lines:

A) raised (revolver) (klієnt, vikoristavshi that extinguished all zaborgovannost on kolponnіy lіnії, mozhe znovu korostustovatsya it);

B) is unreasonable (the list of types of postings in the inter-bank credit lines is attached to the bank account and the bank is attached);

C) Ramkova (to be reckoned by the bank to pay for a number of deliveries of singers goods in one contract, which is realizable by the extension of the fate of the end of the year, on the other side, the financing of the supply of a budget for a project investment project);

Г) з повідомленням (клієнта повідомляють about the upper mezhu credit, perevischennya interi, scho inadmissible abo for perevischennya tjagyuyutsya bіlshі vіssotki);

E) pіdtverdzhena (klієnt chorazu uznoguzhu pomovi concrete sumi posychki v mezhah kreditnoy lіnії).

Довгострокові проектні кредити є найбільш ризикованими loans аbo loans to finance prinovnennya main capital, yak in the Maybutnom zabezpechit podohodzhennia gotіvki. The project loans are hard pressed by companies, they realize the project in a positive way, by creditors, by projects of value for money and money by the chimal of rizik. Project loans can be nadavatisya:

• Without the right to regress on the leader;
• With a partial regression on the head;
• With regress on the peg;
• On consortium ambushes.

Regressing the right of the creditor to offer financial assistance before the post. Vaughan to rummage neremozhiliv pripinennya інвестиційного to the project, and takozh reguljuchemeni відносини суб'єктів інвестиційного process. Збільшення (посилення) регресу призводить до погіршення кефіцієнта боргу, його покриття і виідповідно до зменшення забезпеченості боргу. Posilennya regressu pidvishchu інвестиційні ризики з бока poschalnika i іііпповідно зменшує вартість поки.

Lending without regress on a postmaster zoumovlyuє pokladennya vseієї vіdpovdalnosti for realizatsiyu project on fiznansovo-kreditnu organizatsiyu. The Bank takes care of itself in all the risks and risks of being exposed to any uncontrollable wimogs (regression) to the drive of the roses in the traffic. Such a model of credit is expensive and expensive, and it is very difficult to practice.

Kredituvannya z partkovym regress on the poshchalnoy zoumovlyuet parity rozpodіl ризиків між participants in the project. All participants take on themselves for the sake of the risks, yakі vinikayut at the result їх діяльності: замовники - за виділення ділянки під будівництво, вчане наданя проектно-кошторисної документації, деяких видів обладнання та матеріалів; Pidrjadniki - for inadvertently entered into the project into exploitation for the sake of appearance, for the subtrimony of kosttoris; The post-builders are entitled to - for their time, and that set of supplies; Crediri - for vchasnіst nadannya fіnansovikh resursіv, дотримання платіжної та розрахункової дисципліни. Komertsiyni zobov'azannya, yaki sides to take on themselves, pidtverdzhuyutsya vidpovidnimi contracts that contracts. Vartість цього типу фінансування є відносно неликою, chim can be explained to yogo broadly rozpysyugzhennya. For the songwriters taki fіnnsuvannya zdіysnjєyatsya pose balance dyuchogo pіdpriєmstva poschal'nika, protiv pіsіshe posіchalnik garantієє svoї obovv'yazki chastkoju activeіv.

Kredituvannya z pozhim regress on the poshchalnika okoloti fіnansuvannya u naibіlsh short lines. Tsei type fіnansuvannya zastosovuyutsya for proektіv, yakі majut zavіvne znachennya, здійснимться під його гарантію або for yogo підтримкою. Prior to the projects, we project projects for the development of special galusies, regions, vibrations and social infrastructure. Realizuyuchi soi projects, poschalnik, krim torokov gotivki, vikoristvuє інші джерела для погашення боргу. Слід зазначити, що цей тип фінансування найбільш прийнятний для економіки України, яка має гостру необхідність в активізації інвестиційної діяльності. Tomu mіzhternationalnі fіnansovo-kombіnnі organіzіcії sіогодні віддають перевагу самььму вид кредитування.

Lending on consortium ambushes zdіysnyuetsya for the scheme: "stvonyu - volodiy - ekspluatuy." Such a scheme pripustaє zgodu mіzh uchasnikami project shodo utvorennya (budivnitvva) pіdpriemstva, yogo акціонування або корпоратизації та експлуатації власником на пайових умовов. Zvichayno on the minds of the consortium the bank abolition of banks to convert borgo zobov'yana in the act of a poshchalnik. By the project's proprietors, we will continue to pay taxes, insurance companies, and so on.

For realizing the great projects, you can talk about the promising and finance group, consortiums of those, who have banks, how to invest, how to make money without risk, and how to raise money for yourself and all the investments.

Bankovsky consortium pays for investment loans to the poshchalnik in such a way: with the credit of the credit resources from the vested bank to the subordinated loans to the sub-accounts of the state dacha; With the guarantee of the money earned by the provincial bank, with the credit of banks, with the credit of the loan, the loan is taken from the consumer; With the help of banks guaranteeing the quotas of credit resources for rajunok loans to other banks for the consortium in the consortium operations (divorced Pozdnya NBU "About the order of the liquidation of consortium credit" on 21 October 1996).

Bankovskiy consortiums are responsible for the method of accumulating credit resources in the national and foreign currencies, for the credit of the government's investment programs, for the effective financing of loans, for the replacement of credit risks, for the upcoming normative display of the maximum amount of money for one poschalnik.

Consignment of a consortium loan is a parallel loan: in order to take the fate of two more banks, you can self-talk with a poshchalnik. Banks-lending to the Uzbezhuyut Mizh mobo lubovyu kredituvannya, shcheob u pidssku uklasti credit dovgorі із zagalnimi vsіh uchasnikіv umovami. Skin Bank self-esteem nadae poschalniku viznachenu part of the loan, dotirmuchichsya zagalnyh, uzhengodzheny z іnshimi banks creditors minds credit.

On the basis of bagatopolyannye bankovyskikh kreditіv z'yavlyaetsya mozhnivist zdіysnyuvati velikі dovgostrokovі credit projects for the satisfaction of the needs of the investment sphere.

The new form of credit is the capital contribution, which is invested in commercial banks, і nadannya koshtіv klієtamam for realizatsії them довгострокових large-scale projects in the field of vikupu випусків промислових облігацій, які емітуться цими клієнтами. In the international practice such an operation is called underwriting . Vona moe broadly rozpusyugzhennya in diyalnosti spetsializovanii investment banks behind the cordon.

Underwriting for underwriting in commercial banks is encouraged by the expansion of investment projects, by the development of the market of Ukrainian paperns in Ukraine, by the promulgation of local paperns of Ukrainian loans to the financial sector.

Naishchishe banks nadaetsya the right zdіysnyuvati operatsії underwriting tilki for prodіdnih pіdpriemstv prioritetnyh galusies of Ukraine (litakobuduvannya, shipbudowannya, himichnaya promyshlennost, etc.), the products of which are crooked to drink on the sink market. Kozhna operatsiya underwriting in the department of investment, coordinating the pleasure of the bank for the investment, disbursement of special credit to the credit committee, solidification of the commercial bank.

Suma lіmіtu underwriting for one pіdpriєmstva not guilty perevischuvati 10% Vlasnyi kapіtalu bank i Got vіdpovіdati vimogam Law of Ukraine "About tsіnnі Paper the i stock bіrzhu" zgіdno s Yakima aktsіonerne tovaristvo Mauger vipuskati oblіgatsії for the amount not bіlshe 5% od rozmіru Svoge statutory fund i deprivation Після повної оплати всіх випущених акцій.

Underwriting nadaєtsya, yak usually tіlki pіdpriєmstvam, SSMSC not toil on the bank zobov'yazan ranіshe otrimanih pozichkah, i tіlki for єdinogo mind tsіnnih paperіv - іmennih Promyslova oblіgatsіy s plavayuchoyu vіdsotkovoyu rates, nomіnal yakih uv'yazany іz dinamіkoyu rinkovoї vartostі monetary metal music ( For example, gold), the contractor makes a contract with the mayor of a poshchaknik, yak is not ëcustomerís zabezpechennyam ínshogo zobov'aняan (a (borgu), і for some ichivami vipusku perebachena mozhnivіt konvertatіії oblіgatsіy u zvichinі povodpriyatstva. Takі oblіgatsії vvazhayutsya svyotovy prac tic nybіlsh povaplivimi for the investor і nadіyno zahischayut rights ostarynogo з урахуванням інфляційних процесів.

Specify underwriting:

A) іменні облігації реєструються на ім'я весника. At temptations, with a vow of lines, pidpriemstvo moe pererahuvati obmovleni vidosotki on rahunok, indications by the governor oblgatsії;

B) floating rate rate of vitrat on the basis of the capital of Ukraine is determined by the basic rate of the groovy rink of Ukraine, on the application, on the regional rate of the National Bank of Ukraine;

C) nomіal oblіgаіії має бути виражений in two ways: у грошовій формаі та у відповідній кількості дороцінного металу на время випуску облігації. Умови випуску повинні передбачати right of the investor at the repaid area of ​​the account of the sum, yaka dorіvnjue rinkovі vartostі zasnachenoї in oblіgatsії kіlostі pricy metal at the moment її викупу;

g) garantієyu oblіgatsіy Je dogovіr to force all pіdpriєmstva am Main, yak is not Yea Zastavna zabezpechennyam іnshogo zobov'yazannya (Borg), and those vrahovuєtsya not tіlki Main, Yakima volodіє pіdpriєmstvo at the time oblіgatsіy Key infrastructure, and the second all the Main, yak Mauger pіdpriєmstvo pridbati In the Maybutnom;

E) convergence of the obligacious signifies the right of the clerk through the visions of the terminology of oblivion (for yogo bazhanyam) to the fictionality of the forgivable accep- tuality of property, which has been violated by obligacies. The purpose of the grant is to make the add-on pributku at the zarostnі rinkovoi tsіni zaschischeny vishche Aktsі.

For viznachennya mozhnostyi nadannya adderraytingu klієnt podayet up to install the bank for dodatok to the document for analizu fіnansovogo stanu і platospromozhnostі згідно зі standard переліком і documents in the dovgostrokovogo project, for realizing a loan for koshi, soі dokumenty:

• The project of the prospectus of the oblasts, the collapses in the wimings of the structure of the Ministry of Finance "Rules for the opening and restoring of the paperns on the territory of Ukraine";
• Roarraunok string of the region;
• Roarraunok vіsotkovoї rates on oblіgatsії;
• Пропозиції щодо графіка і розміру внесків до фонду погашення заборгованості (to the fund випуску облігацій);
• Offers schodo vinagorodi bank for underwriting okrіm vіdsotkovih viplat on oblіgatsіyah (Won guilty Booty in furrows 20% zagalnoї vartostі oblіgatsіy, vihodyachi s їh nomіnalnoї vartostі, tobto oblіgatsії vikupovuyutsya bank for tsіnoyu, obov'yazkovo nizhchoyu od nomіnalnoї vartostі oblіgatsіy);
• The draft contract is forced on the mayo, yak є vlasnistyu pіdpriєmstva, і not є zastavnim zabezpechennyam іnshogo zobov'yаnnya (borgu), and takozh on all mayno, yak pіdpriєmstvo mozhe pribbaty in Maybutnomu;
• Інші documents for the year of the year i set up a bank.

Bank on osnovі vivchennya perelіchenih dokumentіv conduct otsіnku nadіynostі oblіgatsіy pіdpriєmstva i mozhlivostі їh pererozmіschennya Sered nevelikoї kіlkostі great SET-іnvestorіv (bankіv, insurance kompanіy, іnvestitsіynih i pensіynih fondіv) abo velikoї kіlkostі drіbnih іnvestorіv by the Bank shall establish abo Sered dіlerіv scho spetsіalіzuyutsya on provedennі operatsіy З цінними паперми, чи sale облігацій на Фондовій біржі.

Vrahovoychy nerozvinenist stock market (especially the market promyslovy oblogatsі) in Ukraine, odnієyu for the main reasons nadannya pіdpriєmstvam credit viglyadі underwriting syogodnі є zatsіkavlenіst itself to the bank in pridbanni such oblgatsy for a virgin portfolio of pincers.

In razі of acceptance of the positive rіshennya about nadannya loan from bank to establish underwriting viglyadі rozroblyaєtsya project lands about aderrayting, especial value in yakіy neobhіdno pridіliti chіtkomu Yurydychna formulyuvannyu minds Key infrastructure oblіgatsіy i spetsіalnih zobov'yazan pіdpriєmstva the bank on nadannyu ostannomu mozhlivostі zdіysnennya neobhіdnogo control over minds dotrimannyam Key infrastructure .