煤炭企业市场化债转股的相关问题探讨

Analysis on marketized debt-to-equity swap related problems of coal enterprise

针对债转股的政策目标、市场运作机制、终极目标等几个重要的问题进行讨论,并结合煤炭企业的实践,提出了市场化债转股重要目标是结构优化、有效路径是市场化、效果取决于企业经营改善3个方面的理论观点,以期对煤炭企业的债转股工作有指导意义。

A discussion was conducted on the policy target of the debt-to-equity swap, market operation mechanism, termi- nal target and other several important problems. In combination with the practices of the coal enterprises, the paper provided that the important target of the marketized debt-to-equity swap would be the structure optimization, the effective path would be the marketization and the benefit would be the operation of the enterprises. Thus the view of the three aspects should be improved in order to have the guidance meaning to the debt-to-equity swap of the coal enterprises.