并购贷款

非LBO的中国式并购贷款&中国资产杠杆化的开端

Non-LBO China-Style Loan for M A A beginning of leverage assets in China

对我国商业银行开展并购贷款的思考

Contemplations on Acquisition Loan Business of China 's Commercial Banks

支持发放并购贷款。

I.Supporting the granting of M & A loans .

对商业银行而言，并购贷款是一项全新业务。

For commercial Banks , mergers & acquisitions loan is a new business .

商业银行并购贷款风险控制的理论与实践

Theory and Practice of Risk Control in M & A Loans of Commercial Banks

我国商业银行并购贷款风险评价研究

Research on Risk Assessment of Mergers & Acquisitions Loans of Commercial Banks in China

因此，要加强并购贷款银行债权在公司治理中的参与。

Therefore , to strengthen the M & A lending bank debt participation in corporate governance .

对商业银行开展并购贷款提出了量化的监管标准；

Putting forward a quantified standard of regulating commercial banks'operation of M & A loan business ;

第三章通过一个上市公司收购案例来说明并购贷款的风险控制法价值取向。

Chapter Third through a case of acquisition of listed companies to illustrate the risk control law values .

规定了商业银行开展并购贷款业务所应具备的条件；

Providing the conditions which the commercial banks shall met when operating the M & A loan business ;

并购贷款业务在美国等资本市场比较发达的国家中产生较早，较为普遍。

The M & A loans stem from the Unit States and other more developed countries and has more common market .

但是，并购贷款作为一项新的业务，其风险比一般贷款高。

However , the M & A loans is a new business of commercial banks , whose risk is higher than normal loans .

商业银行并购贷款是指商业银行为企业并购交易提供的用于支付并购交易现金对价的贷款资金。

The M & A loans of Commercial bank is the cash that commercial bank provides for the payment of mergers and acquisitions .

总之，我们要逐步建立和健全一个四位一体并购贷款监管体系。

In a word , we aim to build and improve a " four-in-one " regulatory legal system about the M & A loans .

并购贷款是商业银行向境内企业提供的用以支付并购交易价款的信贷产品。

M A loan is a kind of credit service which commercial banks loans to domestic enterprises only for the payment of M A transactions .

并购贷款是指商业银行向并购方或其子公司发放的，用于支付并购交易价款的贷款。

M a loans refer to the commercial bank to m a party or its subsidiary issuing which are used to pay acquisitions price loans .

但是，并购贷款是一项全新的高风险贷款品种，其风险性和复杂性均高于传统意义上的贷款。

Annexation loans are a kind of brand new high risk loan , whose risky nature and complexity are both higher than those of traditional loans .

因此，如何评价和控制并购贷款风险就是我国商业银行开展并购贷款业务前必须要解决的首要问题。

Therefore , how to evaluate and manage the risk of M & A loans are the primary problem that needed to be resolved when commercial banks .

对于这项新业务，银行若要控制风险，首先要解决的问题是如何对并购贷款授信。

For this new business , if the banks want to control the risk , the first problem to be solved is to focus on credit management .

因此在上市公司收购中使用并购贷款作为收购资金的来源，其风险来源更加复杂和特殊。

Therefore , to use M & A loans as source of funds for the acquisition of listed companies , the risk is more complex and special .

并购贷款一般涉及数额较大，业内人士预计，财大气粗的国有商业银行将占尽天时地利人和。

M & A loans generally involve larger amounts , the industry is expected , the rich will be the most state-owned commercial banks at the right time .

并购贷款将会成为并购业务加速发展的重要推手，并购贷款业务也必将迅速发展。

M A loans will become a major force in the rapid development of M A business , At the meanwhile , M A business will develop rapidly .

我国商业银行并购贷款业务开展仅有一年，绝大多数的商业银行对并购贷款业务毫无经验可谈，在对并购贷款的审查、风险评估、贷款合同设计以及贷后管理方面还比较陌生。

On the aspects of M & A loan review , risk assessment , loan contract designing , and post-loan management , our commercial banks are still relatively unfamiliar .

对于当前公司现状下，并购贷款银行如何尝试公司治理？本文第三章就此展开分析。

Under the current situation for the company , M & A lending bank to try to corporate governance ? Chapter III of the article is trying to analyze .

在前面三章探讨内容的基础上，第四章对并购贷款的风险控制现行立法做了梳理，分析了其中的不足并提出了自己的建议。

In the previous three chapters on the basis of content , the fourth chapter analyzed the risk control of existing legislation of the M & A loans and put forward proposals .

并购贷款只能用于并购交易，该部分所需资金总量可作为计算授信额度的标准，目标企业在贷款期内实现的折现自由现金流量价值代表它的真实偿债能力。

The total fund required can be seen as a standard for line of credit . In the loan period , the discounted value of the target company ' free cash flow indicates its real solvency .

在目前对并购贷款风险研究的有限的资料中，本文丰富了对我国商业银行并购贷款风险的研究。

In the current limited information about the study on the risk of M A loans , this thesis has great value and significance on the research of risk assessment of M A loans in Chinese commercial banks .

第二章通过一个并购贷款用于上市公司收购的案例对来自并购交易自身、并购方和被并购方的风险进行分析，介绍各自风险的来源和特征。

Chapter Second through a case of to use M & A loans as a source of acquisitions of listed companies to analysis the transaction , acquirer and the acquired party risk , information on their risk sources and characteristics .

首先第一章通过一个并购贷款用于上市公司收购的案例介绍了并购贷款的范围界定、并购贷款用于上市公司收购的合规性及其功能等基本理论，为下文具体内容的探讨奠定一定的基础。

Chapter First through the case of M A loans for acquisitions of listed companies to define the scope of the M A loans , compliance and functions of the basic theory , as foundation of the specific content discussed below .

在实践层面上，通过利用风险识别、风险评价以及风险控制的方法为湖南进出口银行海外并购贷款业务的开展提供了决策支持，增强了并购企业的核心竞争力。

Practically , through risk identification , risk evaluation and risk control methods , the paper has provided significant decision-making support to China Eximbank Hunan Branch . It has also strengthened the core competitiveness of the company doing mergers and acquisitions .