集合债券发行难问题的再思考

Reconsideration of the Problems of Set Bond Issuing

中小企业集合债券作为解决中小企业融资难的途径之一正日益受到关注。本文通过分析集合债券发行面临的主要问题和对目前国内集合债担保模式的研究,建议在一级担保上可以运用供应链担保理论引入发行主体上下游的大型国企;或组建金融增信公司联手担保公司为集合债券提供担保。

As one of the financing methods of SMEs,the set bonds are attracting increasing attentions. This article discuss the main barriers at the issuing stage of set bonds and suggests, on the study of the current set bonds guarantee mode, that an up or downstream big enterprise be introduced to the first-revel guaran- tee stage or bond insurance companies be set up to enhance the guarantee companies as set bond guarantor.