Steps of debt-to-equity swap:
1, defining the scope of applicable enterprises and creditor's rights;
2. Carry out market-oriented debt-to-equity swap through implementing agencies;
3. Determine the price and conditions of market-oriented debt-to-equity swap through independent consultation;
4. Market-oriented financing of debt-to-equity swap;
5. Standardize the performance of relevant procedures such as equity change;
6. realize the withdrawal of equity. Two practical methods of debt-to-equity swap are the debtor's capital increase and share expansion, the debtor's transfer of the company's equity, and the creditor's cancellation of all or part of the debt.
Second, analysis
Debt-to-equity swap refers to the establishment of financial asset management companies by the state, the acquisition of non-performing assets of banks, and the conversion of the original creditor's rights and debts between banks and enterprises into equity and property rights between financial asset management companies and enterprises. After the creditor's rights are converted into equity, the original principal and interest are converted into dividends by shares.
3. What is the impact of the debt-to-equity swap process on enterprises?
1, reduce the asset-liability ratio of enterprises, enhance capital strength and effectively prevent debt risks. At the same time, the original shareholders' rights and interests were diluted;
2. The pressure of capital investment and interest has slowed down, and the profitability of enterprises has improved. Increase capital and shares of member enterprises with promising core, increase net capital of member enterprises through capital increase and share expansion, and improve core competitiveness of member enterprises. At the same time, it will ease the interest pressure of promising member enterprises and enhance their own development capabilities;
3. Improve corporate governance and cooperate at the business level.