Study on the Financial Impact of Perpetual Debt--Based on the Case Analysis of Gezhouba Company
DOI:
https://doi.org/10.54097/f48s6287Keywords:
perpetual bonds, Financial implications.Abstract
Perpetual debt is a new thing in China's capital market, and China's listed companies have only started to issue perpetual debt financing in recent years. When perpetual bonds are classified as equity instruments, they have the advantages of increasing the company's equity without diluting the shares and reducing the gearing ratio. This is very attractive to the listed companies that are in urgent need of high costs and have restrictions on debt issuance due to high gearing ratios. As a result, this paper selects the case of Gezhouba's perpetual debt issuance as the research object, and conducts an in-depth study on the financial impact of listed companies' perpetual debt financing.
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