Risk Management Investigation of Raising Chinese Enterprise Syndication- in H-AIR Case

• Main Authors: Hung, Hsiao-Fen, 洪曉芬
• Other Authors: Tsai, Wei-Pen
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/b5446w

碩士 === 輔仁大學 === 金融與國際企業學系金融碩士在職專班 === 103 === The object of the study focuses on analyzing the risk factors a Facility Agent may face in raising syndication of Chinese enterprises, sharing the experience of how the Facility Agent made decisions through actual case of H-AIR, in order to lower the incidence of credit risk, and to increasethe successful raising chances in the future. In the case, there are many aspects a Facility Agent needs to take into consideration when raising a syndicated loan, such as operating risk, funding purpose dismatch risk, repayment risk of Initial Public Offer process delay, interest rate fluctuate risk of the participants, and laws and regulations risk. The baseline of risk assessment is 5P, and the key factors of completing the syndicated loan are the keep growing revenue and steady profit, favorable industry outlook, the control of funding, the stringent term structure, and stable earnings of participants. Currently the cases of syndicated loan to Chinese enterprises are still growing, perhapswith theaccumulation of cases, we’ll have a better understanding about the characteristics of the mainland enterprises, and that will facilitate to raise syndications and risk management.