title: ÐÐ¾Ð²ÐµÐ½Ð°Ð½ÑÑ Ð½Ð° ÑÑÐ½ÐºÐµ Ð¾Ð±Ð»Ð¸Ð³Ð°ÑÐ¸Ð¹: Ð¼Ð¸ÑÐ¾Ð²Ð¾Ð¹ Ð¾Ð¿ÑÑ Ð¸ ÑÐ¾ÑÑÐ¸Ð¹ÑÐºÐ°Ñ Ð¿ÑÐ°ÐºÑÐ¸ÐºÐ°
title: Ð²ÑÐ¿ÑÑÐºÐ½Ð°Ñ ÐºÐ²Ð°Ð»Ð¸ÑÐ¸ÐºÐ°ÑÐ¸Ð¾Ð½Ð½Ð°Ñ ÑÐ°Ð±Ð¾ÑÐ° Ð±Ð°ÐºÐ°Ð»Ð°Ð²ÑÐ°
titleType: Subtitle
title: Covenants on the bond market: global experience and russian practice
Creators: name: Ð¢Ð¸Ð¼Ð¾ÑÐµÐ½ÐºÐ¾, ÐÐ½Ð°ÑÑÐ°ÑÐ¸Ñ
Publisher: name: Ð¡Ð°Ð½ÐºÑ-ÐÐµÑÐµÑÐ±ÑÑÐ³ÑÐºÐ¸Ð¹ Ð¿Ð¾Ð»Ð¸ÑÐµÑÐ½Ð¸ÑÐµÑÐºÐ¸Ð¹ ÑÐ½Ð¸Ð²ÐµÑÑÐ¸ÑÐµÑ ÐÐµÑÑÐ° ÐÐµÐ»Ð¸ÐºÐ¾Ð³Ð¾
Year: 2020
Subjects: Ð¾Ð±Ð»Ð¸Ð³Ð°ÑÐ¸Ð¸
ÑÐ¸ÑÐºÐ¸
ÐºÐ¾Ð²ÐµÐ½Ð°Ð½ÑÑ
Ð¸Ð½Ð²ÐµÑÑÐ¸ÑÐ¸Ð¸
bonds
risks
covenants
investments

description: Ð¢ÐµÐ¼Ð° Ð²ÑÐ¿ÑÑÐºÐ½Ð¾Ð¹ ÐºÐ²Ð°Ð»Ð¸ÑÐ¸ÐºÐ°ÑÐ¸Ð¾Ð½Ð½Ð¾Ð¹ ÑÐ°Ð±Ð¾ÑÑ: Â«ÐÐ¾Ð²ÐµÐ½Ð°Ð½ÑÑ Ð½Ð° ÑÑÐ½ÐºÐµ Ð¾Ð±Ð»Ð¸Ð³Ð°ÑÐ¸Ð¹: Ð¼Ð¸ÑÐ¾Ð²Ð¾Ð¹ Ð¾Ð¿ÑÑ Ð¸ ÑÐ¾ÑÑÐ¸Ð¹ÑÐºÐ°Ñ Ð¿ÑÐ°ÐºÑÐ¸ÐºÐ°Â».
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2. Ð¡ÑÐ°Ð²Ð½ÐµÐ½Ð¸Ðµ Ð¼Ð¸ÑÐ¾Ð²Ð¾Ð¹ Ð¸ ÑÐ¾ÑÑÐ¸Ð¹ÑÐºÐ¾Ð¹ Ð¿ÑÐ°ÐºÑÐ¸ÐºÐ¸ Ð¸ÑÐ¿Ð¾Ð»ÑÐ·Ð¾Ð²Ð°Ð½Ð¸Ñ ÐºÐ¾Ð²ÐµÐ½Ð°Ð½ÑÐ¾Ð² Ð¸ Ð²ÑÑÐ²Ð»ÐµÐ½Ð¸Ðµ Ð½Ð°Ð¸Ð±Ð¾Ð»ÐµÐµ ÑÐ°ÑÑÐ¾ Ð²ÑÑÑÐµÑÐ°ÑÑÐ¸ÑÑÑ ÐºÐ¾Ð²ÐµÐ½Ð°Ð½ÑÐ¾Ð² Ð´Ð»Ñ ÑÐ¾ÑÑÐ¸Ð¹ÑÐºÐ¾Ð³Ð¾ ÑÑÐ½ÐºÐ°.
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4. Ð Ð°Ð·ÑÐ°Ð±Ð¾ÑÐºÐ° ÑÐµÐºÐ¾Ð¼ÐµÐ½Ð´Ð°ÑÐ¸Ð¹ Ð²ÑÐ¿ÑÑÐºÑ Ð¾Ð±Ð»Ð¸Ð³Ð°ÑÐ¸Ð¹ Ð´Ð»Ñ Ð¸ÑÑÐ»ÐµÐ´ÑÐµÐ¼Ð¾Ð³Ð¾ Ð¿ÑÐµÐ´Ð¿ÑÐ¸ÑÑÐ¸Ñ, Ð° ÑÐ°ÐºÐ¶Ðµ ÑÐ°Ð·ÑÐ°Ð±Ð¾ÑÐºÐ° ÐºÐ¾Ð²ÐµÐ½Ð°Ð½ÑÐ¾Ð² Ð´Ð»Ñ Ð¿ÑÐ¾ÐµÐºÑÐ° ÑÐµÐ½Ð½ÑÑ Ð±ÑÐ¼Ð°Ð³.
Ð Ð°Ð±Ð¾ÑÐ° Ð¿ÑÐ¾Ð²ÐµÐ´ÐµÐ½Ð° Ð½Ð° Ð±Ð°Ð·Ðµ ÐÐ Â«ÐÐ°ÑÐ° Ð¡ÐÐÂ», Ð³Ð´Ðµ ÑÐ¾Ð±Ð¸ÑÐ°Ð»Ð°ÑÑ Ð·Ð½Ð°ÑÐ¸ÑÐµÐ»ÑÐ½Ð°Ñ ÑÐ°ÑÑÑ ÑÐ°ÐºÑÐ¸ÑÐµÑÐºÐ¾Ð³Ð¾ Ð¼Ð°ÑÐµÑÐ¸Ð°Ð»Ð°: ÑÐµÐ·ÑÐ»ÑÑÐ°ÑÑ ÑÐ¸Ð½Ð°Ð½ÑÐ¾Ð²Ð¾Ð³Ð¾ Ð°Ð½Ð°Ð»Ð¸Ð·Ð° Ð¿ÑÐµÐ´Ð¿ÑÐ¸ÑÑÐ¸Ñ. ÐÑÐ»Ð¸ Ð¿ÑÐ¾Ð²ÐµÐ´ÐµÐ½Ñ ÑÐ°ÑÑÐµÑÑ, Ð¿Ð¾ÐºÐ°Ð·ÑÐ²Ð°ÑÑÐ¸Ðµ Ð½Ð°Ð³Ð»ÑÐ´Ð½Ð¾, Ð½Ð°ÑÐºÐ¾Ð»ÑÐºÐ¾ ÑÑÐ¿ÐµÑÐ½Ð¾ Ð´Ð°Ð½Ð½Ð¾Ðµ Ð¿ÑÐµÐ´Ð¿ÑÐ¸ÑÑÐ¸Ðµ ÑÑÐ½ÐºÑÐ¸Ð¾Ð½Ð¸ÑÑÐµÑ Ð½Ð° ÑÐµÐºÑÑÐ¸Ð¹ Ð¼Ð¾Ð¼ÐµÐ½Ñ. ÐÐ½Ð°Ð»Ð¸Ð· Ð¿ÑÐ¾Ð²Ð¾Ð´Ð¸Ð»ÑÑ Ð¿Ð¾ÑÑÐµÐ´ÑÑÐ²Ð¾Ð¼ ÑÐ°ÑÑÐµÑÐ¾Ð² Ð¾ÑÐ½Ð¾Ð²Ð½ÑÑ ÑÐºÐ¾Ð½Ð¼Ð¸ÑÐµÑÐºÐ¸Ñ Ð¿Ð¾ÐºÐ°Ð·Ð°ÑÐµÐ»ÐµÐ¹ Ð¸ Ð¸Ñ ÑÑÐ°Ð²Ð½ÐµÐ½Ð¸Ñ Ñ Ð½Ð¾ÑÐ¼Ð°ÑÐ¸Ð²Ð½ÑÐ¼Ð¸ Ð·Ð½Ð°ÑÐµÐ½Ð¸ÑÐ¼Ð¸.
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description: The subject of the graduate qualification work is âCovenants on the bond market: the global experience and Russian practiceâ.
The given work is devoted to studying defects of austenitic steel castings, i.e. 12H18N10T (AISI 321), and to developing methodology of their elimination. The research set the following goals:
1. Study of the concept of risk and ways to protect investors from them.
2. Comparison of global and Russian practice of using covenants and identification of the most common covenants for the Russian market.
3. Research of JSC "Zara CIS" in order to offer additional sources of financing.
4. Development of recommendations for the issue of bonds for the company under study, as well as the development of covenants for the securities project.
The work was carried out on the basis of JSC "Zara CIS", where a significant part of the actual material was collected: the results of the financial analysis of the enterprise. Calculations were made that clearly show how well this enterprise is functioning at the moment. The analysis was carried out by calculating the main economic indicators and comparing them with standard value
As a result, the current financial condition of the company was reviewed and conclusions were made about the stability of its position. Effective recommendations have been developed to eliminate possible losses by attracting additional financing through bond loans. Based on the research conducted at Zara CIS JSC, it was decided to issue bonds for a total amount of 300 million rubles.