IiNkampani zikhupha iiBond kwiSiqendu seRekhodi
Iinkampani zikhuphe ngaphezu kwama-1.4 trillion ngo-2016, ngoNovemba. Iinkampani zifuna ukukhupha iitaliti kwizinga elincinci lenzalo, ngenxa yemigaqo-mali eyongeziweyo evela kwi- Federal Reserve . Ngokonke, kukho i-$ 8 triliyoni engaphezulu kwetyala elijongeneyo.
(Umthombo: iSifma Statistics, Disemba 9, 2016.)
Enye ikhampani kufuneka ihlanganyele kwi- Offering Public Offering kwaye iphakanyise ukulingana ngokuthengisa amasheya . Le nqubo ende kwaye ibiza. Ukuthengisa amabhondi, ngelixa kunzima, kunzima kakhulu kwaye kunika indlela ekhawulezayo yokuphakamisa inkunzi ngokunyusa kwenkampani.
Unokuthenga izibophelelo zenkampani ngabanye okanye ngekhredithi yebhondi kumcebisi wakho wezemali. Bakhuseleke kancinci kunamabhondi karhulumente. Kungenxa yokuba kunethuba elikhulu inkampani inokuthi ibenze ibhokhwe kwaye ingagqibekanga kwibhondi. Kungenxa yoko bavame ukulinganiswa ngengozi yabo ngo-Moody's or Standard & Poor's . Ephakamileyo ingozi, iphakamileyo yokubuyiselwa kwenkampani kufuneka inikele.
Izibophelelo zoshishino, njengazo zonke ezinye izibophelelo, zinikela ngenani lentlalo echanekileyo kumthengi. Ukuba ubambe isibophelelo sokukhula, uya kufumana inqununu kunye nesibalo semali ehlawulwayo.
Yiyo ukubuyela kwakho ngokupheleleyo, okanye ukuvelisa.
Nangona kunjalo, ukuba uthengisa isibophelelo ngaphambi kokukhula, awukwazi ukufumana intlawulo efanayo naleyo owawuhlawula yona. Ubungakanani bhondi yakho buya kulahla xa inani leenzalo kwizinye iinqununu likhuphuka. Kutheni umntu onokukuhlawula okufanayo ukuba ubophelelo lwakho lunomyinge onomdla ongaphantsi kunezinye ezikhoyo?
Kwimeko apho, ukubuyela kwakho okanye isivuno sakho siya kuhlahlela. Yingakho behlala bethetha ukuba isibophelelo siyabonakala xa kuhlawuleka umyinge.
Iintlobo zeeBondary Corporate
Kukho iintlobo ezahlukeneyo zeebhondi zenkampani, kuxhomekeke kwingozi yabo kwaye babuyele.
Icandelo lokuqala lixesha, okanye liza kuthatha ixesha elingakanani ukuba isibophelelo sikhule. Kukho ubude obuthathu besikhathi:
- Ixesha elifutshane (iminyaka emithathu okanye ngaphantsi) - Le nto yayisetyenziselwa ukuba ikhuselekileyo, kuba yayibanjwe ixesha elingaphantsi. Nangona kunjalo, ekubeni i-Fed ibhengezile iya kuphakamisa izinga lokunyusa inzala ngo-2015, ezi ntlawulo ziya kuphakama kwakhona.
- Ixesha eliphakathi (kwiminyaka emine ukuya kwele-10) - Iifihla ziza kuphakama kwezi zibophelelo kunye nangonyaka ozayo, njengoko i-Fed ikhupha ukuthengwa kwayo kweeNondyebo amanqaku. Ngaphezulu, khangela i- Easter Easing .
- Ixesha elide (ngaphezu kweminyaka eyi-10). Iimbopheleleko zexesha elide kaninzi zibonelela ngenani lentlalo ephakamileyo ngenxa yokubopha imali yababoleka imali iminyaka elishumi okanye ngaphezulu. Oku kwenza isivuno, okanye ukubuyela ngokubanzi, kunzulu ukunyuka kwezinga lentengo. Ezi zibophelelo zivame ukuthengiswa ngefowuni, okanye ukubonelelwa ngokukhulula, evumela ukuba inkampani yokukhupha ihlawulele emva kweminyaka eyi-10 yokuqala (i-bond-long-long-long) ukuba ixabiso lentengo liphantsi. Oku kuvumela ukuba bahlawule ibhondi yakho kunye nemali evela kwisibopho esitsha, esincinci. (Umthombo: i-WSJ, i-Bond More Ways Can Bite You, Meyi 5, 2014)
Udidi lwesibini ngumngcipheko.
- Iibhanki zebhanti zentengiso zikhutshwa yiinkampani ezingenakwenzeka ukuba zingagqibekanga. Uninzi lwezibhonkco zoshishino zikwinqanaba lokutshala imali Ziyakhathalela kubatyalomali abafuna ukubuyela okungaphezulu kunokuba banokufumana amanqaku eNondyebo, kwaye ngokwenene basoloko bekhuselekile. Ezi zilinganisiwe ubuncinane be-Baa3 yi-Moody's, kwaye ubuncinane ubuncinane beBBB- nge-Standard & Poor's and Fitch Ratings.
- Izibophelelo eziphezulu, ezibizwa ngokuba yizibopho ezingenanto , zinikeza ukubuyela okuphezulu. Nangona kunjalo, kungenxa yokuba bayingozi kakhulu. Enyanisweni, ukulinganisa kwabo kufanele kukusongelele - " kungekhona ibakala lotyalo-mali ." Oko kuthetha ukuba bathathwa njengengqiqo. Zilinganiswa njengeB okanye ziphantsi. (Umthombo: "Iintlobo zeebhondi zeCandelo," i-HJ Sims.)
Udidi lwesithathu luhlobo lwenzala yentlawulo.
- Intlawulo ehleliweyo, ebizwa ngokuba yi-vanilla elula, yinto eqhelekileyo. Uya kufumana inkokhelo efanayo ngenyanga ukuya kukhula. Ezi zibizwa ngokuba yiintlawulo zekhuphoni, kwaye inzala yenzalo ibizwa ngokuba yi-coupon rate. Emuva kwiintsuku zakudala, abatyali-mali bafanele baqhotyoshele iikhonkoni kwi-bond bond kunye nokuzithumela ukuba zihlawulwe. Ngoku, ngokuqinisekileyo, konke kwenziwe ngekhompyutha.
- Izibophelelo zezinga lokukhukhula zibuyisela kwakhona iintlawulo zazo rhoqo, rhoqo kwiinyanga ezintandathu. Iintlawulo ziya kutshintshwa ngokusekelwe kwiirhafu zenzalo ezikhoyo kwiinkcukacha ze- US Treasury .
- Izibophelelo zeqhosha le-Zero zithintela iintlawulo zenzalo de ukukhula. Nangona kunjalo, utyalomali kufuneka akhokhe irhafu kwixabiso elithengiweyo yentlawulo yenzalo, ngokungathi zihlawulwa. (Umthombo: I-SEC, Ziziphi iimali eziManyeneyo .
- Izibophelelo eziguquguqukayo zifana nezibophelelo ze-vanilla, kodwa zivumele ukuba uziguqule kwizabelo zesitokisi. Ukuba amaxabiso esitoksi aphakama, oku kuya kukwandisa ukubaluleka kweebhondi. Ukuba amaxabiso esitoksi awela, usenayo ikhonkoni zeekhonkco kunye nexabiso lokuqala lokubambisa xa ubambelela kude ukhule. Ekubeni banenzuzo eyongeziweyo, bahlala behlawula inzala emncinci kunamabhondi e-vanilla.