Turn debt back to sell alarm sounded

In the report of the positive stimulus, on Monday (July 26), Xiamen shares (600815, closing price of 10.48 Yuan) rose 7.98%, yesterday (July 27) again next city, to create a new Year's record.　　As of yesterday's close, the Xiamen stock has been two consecutive trading days into the early return trigger conditions area, the return of debt to sell the alarm has been ringing. If the shares of Xiamen stock market continue to perform well, it is very likely that the listed companies will be able to return the debt in advance.　　In view of this, the industry believes that in order to promote debt to equity swap, HA shares in the future will likely release positive, to trigger the return of debt to sell the terms. The new stock price is ringing back to sell the alarm recently, the two-tier market performance of Xiamen-industry shares strong, as of yesterday has achieved 8 Lian Yang. Yesterday, in the market adjustment, Xiamen works shares still performance, and create a New year high. Not only that, for the Xia workers to transfer debt, the stock price of Xiamen shares has been closed for two consecutive days over the transfer of shares (7.45 yuan) of 130%, that is 9.685 yuan.　　Under the terms of the transfer of debt, during the conversion period, the company's shares in any consecutive 30 trading days at least 20 trading day of the closing price is not less than 130% of the current period, the company has the right to determine the value of the bond at 103% (including the current period of interest) to redeem all or part of the convertible bonds. A total of 600 million yuan was issued in August 2009, with a duration of 5 years. Since March 1, 2010, the Xia Gong transfer debt into the swap period. According to the latest public information, the company's cumulative number of shares to the stock has only 146650 shares, accounting for less than 1% of its total issuance, has not yet to turn the shares of the Xia workers transfer debt still has 598.9 million yuan.　　In other words, after entering the swap period, most of the bondholders have adopted a conservative strategy and have not chosen to share the shares. "That means the back-selling alarm has been ringing!"　　"A senior analyst told the Daily Economic news," for listed companies, there is no doubt that the early realization of debt swaps, both to take equity financing to hand, but also to save on bond interest payments.　　To promote a debt to equity swap or favorable release in fact, the shares of Ha-gong on July 21 has given the bondholders a one-time return of the right to sell. On that day, the company announced a part of the raise funds to change matters.　　According to the agreement, the company raises the capital to change, the transfer debt holder has the right to return the sale, according to the value of 103% of the price of the bond to the company back to sell all or part of the bond. Analysts point out that for most of the bondholders, the aim is to make a successful swap before the expiration of the transfer debt to earn a difference in the level two market. As a result, no one would normally choose to sell back. Now, if in the next 28 trading days, the shares of Xiamen in the 18 trading day of the closing price of not less than 9.685 yuan, according to the agreement, the company has the right to determine the value of 103% (including the current period of interest) prices to redeem all or part of the convertible bonds. By then, the company's choice of compulsory redemption means that the bondholders will have to opt for a swap, which is clearly a result that the listed companies are willing to see. therefore, the company does not rule out will be in the next period of time to throw good news, further stability of the stock price to promote debt to share, and the company July 8 released in advance 500% news, it is likely just the first "heavy" positive.