swtor credits "but as companies have to deal with market volatility in different sectors - TGY

HNA 8 billion financing package being questioned rhythm analysis says merger or adjustment 2011 deep-pocketed potential merger and acquisition of specialized households of Hainan Airlines, since beginning in early 2012, they begin to tighten their belts trousers ready to pay off his debts. On January 30, Hainan Airlines (600221.SH) release announcement, the company intends to make adjustments to the directional add-issuance programme. When adjusted for non-public offering price of not less than $ 4.19/unit, number of non-public offering of sharesAmount does not exceed 1.91 billion shares, total funds to be raised intact, still to no more than $ 8 billion. Hainan Airlines says it intends to transfer after deducting the cost of issuing all of the proceeds used to pay off bank loans and additional liquidity, of which about $ 6.084 billion to be used to repay Bank loans and the rest designed to complement the company's liquidity. Investment consultants transportation researcher Cai JianMing told the securities Journal said in an interview: "Hainan Airlines merger and acquisition of the whole industry chain requires significant financial support, debt ratio changes from 2008-2011 HNA, naval expansion of the road does not stop, but the pace of mergers and acquisitions in recent years changes may occur. "In the matter, the securities journal, contact the relevant person in charge of the HNA group more than once, does not helpTo respond to. 8 billion additional 80% for the list of loan repayment plans disclosed in this notice, you can see the total 6.084 billion yuan of loans are due this year, one of the earliest phase of the Bank of Lanzhou feitian branch of maturity of the loan of 100 million Yuan was looming on May 6. In addition, the contrast in recent years loan of Hainan Airlines found that its loans have been renderedUpward trend, short-term loan amount is $ 9 billion from the end of 2008 increased to $ 14.832 billion at the end of the third quarter of 2011, an increase of more than 60%. In recent years the rapid expansion of the company douzeng of corporate debt, the third quarter of 2009, 2010 and 2011, company interest payments are more than $ 2 billion. In fact, as early asIn July last year, Hainan Airlines just announced additional plans, but did not take place and after six months, continuous adjustment of the a-share market was proposed by Hainan Airlines before the stock price fell below the issue price. In 2012, affected by the huge impact of refinancing programmes, Hainan Airlines shares on January 30 crash, tumbled more than 4%, $ 4.62. Available from Hainan Airlines listed swtor credits, Hainan AirlinesIssuance programme has been submitted multiple times. According to the Wind data show the old republic power leveling, Hainan Airlines listed have been raised 9.543 billion yuan, which have implemented twice on the issue of fund-raising reaching $ 8.6 billion. Take this $ 8 billion in additional programme, HNA refinancing will reach the total amount of $ 16.6 billion, Hainan Airlines currently already far exceed net worth of $ 14 billion. At the same time, Hainan Airlines listed totals donated aShares shareholders in cash 5 a total of $ 218 million in circulation, cash is only about 2% of the amount raised money, well below the average level of the a-share market. According to media and statistics, as of 2011, Hainan Airlines Group cumulative comprehensive credit access to all major banks in more than $ 260 billion. In addition, in recent years, Hainan, Yunnan, Tianjin, Beijing, Chongqing, Xian, and local governments to the seaAirlines of its member companies inject $ 1.5 billion and $ 500 million and $ 450 million and $ 400 million and $ 300 million and $ 350 million. However, Navy money chain "draconian", investment consultants transportation researcher CAI JianMing held different views, he said, "the trend changes in rates of indebtedness from Hainan Airlines (in 2008-liability ratio is 67.59%, for 20091%, for 2010), Navy money chain and there is not much pressure from HNA development scale of view, because of its industry more widely distributed, operational risks are equally, its internal capital chain status is good. "Adjust the pace of expansion CAI JianMing:" (HNA) is the essence of this issue a regulation on Enterprise expansion rhythm, to mergers and acquisitionsPreparation of financing resources, to finance acquisition targets, key among which is to maintain sound and stable funding chains, chains will see additional purpose is to guarantee funds risk. "According to information publicly available, since 2003, the Hainan Airlines Group involved in business, food, logistics, tourism, airports diablo 3 gold, and a number of industries, sequential acquisition xianminsheng, Bo Shang, SST TMSC, ST building lettersListed company, has been formed under the six major industry sectors are currently owns a publicly traded company operating platform. Public information displays, HNA 2008 total market capitalisation of about $ 17 billion of its listed companies, 2011 more than $ 49 billion, an increase of nearly 3 times. From the perspective of three quarterly 2011, some of the good performance of listed companies. Hainan Airlines 2011 years ago, third-quarter net profit of $ 2.3 billion, an increase in the domestic airlines in first; XI ' an Minsheng (000564) from assets restructuring after soaking up the treasure store group's retail businesses, increased performance, the third quarter of 2011 up by 10.08%. It is reported that Hainan Airlines during the development process, several investment management have been adjusted in accordance with environmental changes.In 2008, the international financial crisis before the arrival of the last six months, Hainan Airlines began to proceed to the management structure adjustment in July 2011, sovereign-debt crisis in Europe and at the horizon, Hainan Airlines started adjusting investment strategy, improve profitability, minorities do not meet the income requirements of the project is expected to be cleaned, set on the project size thresholds. CAI JianMing HNA is expected nextExhibition continues to expand, "but as companies have to deal with market volatility in different sectors, in the advanced stages of enterprise development, internal industry consolidation will gradually become HNA key initiatives, Hainan Airlines capital chain in order to ensure that resilience to keep expansion trend of Hainan Airlines. ��