This is a unique, first on the territory of post-Soviet countries seminar for owners and top-managers of enterprises and organizations, consultants on management and finance consultants. For rapidly developing average businesses the problem of attracting capital is one of the most important ones. This problem is directly connected with formation of broad field of institutional investors, which in turn depends on a spectrum of financial tools offered by the share market. One of the ways of debt financing is releasing bonds. Main emitters of bonds are large corporations. However, for the average companies "blind" following politics of "blue" chess pieces is frequently economically inexpedient, and even is counter-indicative. Unpredictability of trends of share market, presence of offers, excess of actual investment needs not provided by a safe level of monetary streams and profit of the company is only the basic risks of the borrower. How it is possible to level the given risks, what decisions can become alternative for average companies? Solution to this problem is release of "club" bonds, an original intermediate financial instrument between syndicated credit and "classic" bonds. Release of "club" bonds provides comfort financing of emitter, and offers investors a financial product with understandable limited risks and profit, which is usually higher than analogical "classic" product. more...
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