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COMMERCIAL BONDS AS AN SOURCE OF FINANCING THE ACTIVITIES OF RUSSIAN ENTERPRISES

А А Ступина

Abstract

The relevance of the study is due to the fact that in conditions of debt load, the attraction of new bank loans by enterprises is unlikely, and may worsen the financial condition of the organization. Therefore, a bond loan is becoming a more popular and less risky alternative for enterprises. In this regard, this article is aimed at disclosing the features and technology of issuing commercial bonds, studying the dynamics of the Russian corporate bond market for 2014-2017, and justifying the attractiveness of this financial instrument. The main approach of this paper is a comparative approach that allows comprehensively justifying the popularity of the bond issue as a source of funding, based on statistical data. The paper reveals the peculiarities of the organization of a bond loan, reveals development trends and substantiates the attractiveness of this financial instrument based on a comparison of bond borrowing and bank lending, as well as on the basis of comparing the yield of commercial securities and bank deposits. The materials of the paper are practical value for organizations (limited liability companies, joint-stock companies) that plan to issue their own commercial bonds, as well as organizations and individuals who plan to make investments.

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