I-BME, ngokusebenzisa iBilbao Stock Exchange, iyavuma ukuhweba kusasa udaba olusha lwamabhondi azinzile olwethulwe nguHulumeni waseBasque ngenani lama-euro ayizigidi ezingama-600. Amabhondi anesikhathi seminyaka eyi-10 (ukukhula kwawo okuhlelelwe u-Ephreli 30, 2029) futhi kuzokwenyuka isigqebhezana sonyaka esingu-1,125%. Le nkinga iyingxenye yokugunyazwa kukaHulumeni waseBasque wangomhla kaFebhuwari 5 ukwenza imisebenzi yezimali yesikhathi eside ngenani eliphakeme lama-euro ayizigidi eziyi-1.260,53.
UNorbolsa, i-BBVA kanye noCrédit Agricole basebenze njengabaxhumanisi beGlobal futhi ngokubambisana neHSBC, iSantander, iBanco Sabadell kanye neCaixabank babe yi-Joint Bookrunners ekubekweni kwalolu daba. Ngakolunye uhlangothi, kufanele kwaziwe ukuthi kulo magazini, uHulumeni waseBasque unesilinganiso esigabeni esihlukaniswe njenge-A3, okungukuthi, umbono ozinzile, kaMoody's; A +, umbono omuhle, nge-S & P; no-A - umbono ozinzile, kaFitch. Udaba luthole isilinganiso salo se-A3 / A- ngabakwaMoody's nabakwaFitch, ngokulandelana.
Kulokhu, kungudaba lwesibili lwamabhondi azinzile uHulumeni waseBasque awusungule eminyakeni yamuva futhi owamukelwa ekuhwebeni yiSpanish Stock Exchanges and Markets (BME). Lapho, ukukhishwa kwenzeka ngaphakathi kohlaka lwe- Izinjongo Zokuthuthukiswa Okusimeme kweZizwe Ezihlangene (ODS) futhi kufaka phakathi amaphrojekthi kwezemfundo, ezempilo, inqubekelaphambili yezomnotho, ukwakhiwa kwamathuba emisebenzi noma amandla avuselelekayo, phakathi kokunye okubaluleke kakhulu emkhakheni wokubambisana.
Izibopho ze-Basque: inzuzo yabo
Lo mkhiqizo omusha ovela emholweni jikelele wesifunda ongaguquguquki imbuyiselo yonyaka yokonga 1,125%. Akuyona imbuyiselo ebanga kakhulu kwabasindisi abancane nabaphakathi, yize inikezela ngenzalo engaguquguquki futhi eqinisekisiwe minyaka yonke ngaphezulu kwemikhiqizo emikhulu yasebhange. Phakathi kwabo, imali yesikhathi esimisiwe, amanothi ezethembiso zasebhange kanye nanoma yiluphi uhlobo lwesikweletu somphakathi. Ngokuqondile kulokhu okugcina, izilinganiso ezibonisa izindali zakamuva zikhomba ukuthi ibhondi yeminyaka emihlanu inikeza isivuno sonyaka esilinganisiwe esingu-5%, ngokusobala ngaphansi kwalo mkhiqizo omusha wezezimali.
Akuwona umkhiqizo onenzuzo okwamanje, kodwa kunjalo eyenzelwe amaphrofayli abatshalizimali abalondolozayo kakhulu. Lapho bethanda ukugcina ukonga kwabo kunokunye ukucatshangelwa okunolaka. Kodwa-ke, enye yezinzuzo zayo ezifanele kakhulu ukuthi bangabhaliswa ngemali engabizi kakhulu ukuya kuyo yonke imizi. Ngokungafani nokuthengwa nokuthengiswa kwamasheya emakethe yamasheya adinga isidingo esikhulu semali. Ukuba ngomunye umehluko owaziwa kakhulu kanye nokwakheka komkhiqizo ohluke ngokuphelele.
Enye indlela: Ama-bond kaHulumeni
Kuyizibambiso zemali engenayo ezinqunyelwe zesikhashana ezimelwe kuphela ngokufakwa kwencwadi. Zenziwa ngoJuni 1987, lapho i-Annotations Public Debt Market iqala ukusebenza. Mayelana nezikweletu, zikhishwa endalini. Inani eliphansi lesicelo ngasinye ngu- kusuka kuma-euro angama-1.000, Futhi izicelo zenani eliphakeme kumele zibe yiziphindaphindo zama-euro angama-1.000 1.000. Mayelana nokwakheka kwayo jikelele, lezi yizibambiso ezikhishwe ngesaphulelo, ngakho-ke inani lazo lokutholwa liphansi kunenani umtshalizimali azolithola ngesikhathi sokuhlengwa. Umehluko phakathi kwenani lokuhlengwa loMthethosivivinywa (ama-euro ayi-XNUMX XNUMX) nentengo yalo yokutholwa kuzoba inzalo noma isivuno esikhiqizwe nguMthethosivivinywa Wezezimali.
Ngakolunye uhlangothi, kubalulekile futhi ukubalula ukuthi izibopho zikahulumeni nezibopho kuyizibambiso ezikhishwa nguMgcinimafa isikhathi eside. Yomibili le mikhiqizo yezezimali iyefana kuzona zonke izici zayo ngaphandle kwethemu, okuthi uma kwenzeka kuba khona amabhondi aphakathi kweminyaka emi-2 nengu-5, ngenkathi esezibophweni mkhulu kuneminyaka emi-5. Zikhishwa endalini yokuncintisana futhi inani eliphansi elilinganiselwe elingacelwa endalini ngama-euro ayi-1.000 XNUMX, futhi izicelo zamanani aphakeme kumele ziphindaphindwe zaleyo mali eshiwo ngenhla.
Ngokuya ngeminyaka emi-3 nengu-5
Njengamanje uMgcinimafa ukhipha amabhondi yeminyaka emi-3 nengu-5, kanti izibopho zinesikhathi eside ngokwedlulele saphakade Iminyaka engu-10, 15 nengu-30. Ngakolunye uhlangothi, amabhizinisi ezezimali ngokuvamile asungule amakhomishini wokuthengisa izibambiso kumanani wawo, aphakathi kuka-0,10% no-1,00% wenani elilinganiselwe lomsebenzi futhi inani lalo elizokwehliselwa entengo yokuthengisa. Khumbula ukuthi zonke izibambiso zikaMgcinimafa zingathengiswa ngaphambi kokuvuthwa emakethe yesibili. Ukwenza lokhu, kwanele ukunikeza i-oda lokuthengisa esikhungweni sezezimali lapho zitholwe khona.
Mayelana nalesi sici, kufanele kugcizelelwe ukuthi lapho umtshalizimali ethatha isinqumo sokuthengisa izibambiso zakhe emakethe yesibili, angahle alahlekelwe ekutshalweni akwenzile ekuqaleni, okungenzeki uma ukuphepha kugcinelwe ukuvuthwa. Okunye okukukhangayo ukuthi isivuno siqoqwa ekuqaleni kwenkontileka yaso futhi ngeke kudingeke ukulinda ukuvuthwa kwayo kube nemali ethe xaxa kwi-akhawunti yokulondoloza, njengoba kwenzeka, ngokwesibonelo, emabhange asesikhathini esinqunyiwe. Kunoma ikuphi, kungumkhiqizo ophephe ngokuphelele onesiqinisekiso esigcwele sombuso.
Ziyini izibopho zokushisekela izwe?
Babewumkhiqizo othandwa kakhulu eminyakeni embalwa eyedlule, kepha isikhalazo sabo sinqabile kakhulu. Yizibopho ezikhishwa emiphakathini ehlukene ezimele yezwe lethu. Lokho wukuthi, ngokusakazwa eCastilla y León, eBalearic Islands, eMadrid, eBasque Country noma eGalicia. Ngesici sokuthi ngamunye wabo unikeza inzuzo ehlukile. Ukuhamba emphethweni ohambayo kusuka ku-1% kuya ku-6% kuya ngokusakazwa kwayo. Ngemibandela yokuhlala eguquguqukayo phakathi kwabo bonke futhi ehamba phakathi kwezinyanga eziyi-12 nezingama-48, ukuze bakwazi ukuzivumelanisa nawo wonke amaphrofayili wabatshalizimali abancane nabaphakathi.
Ngenkathi ngakolunye uhlangothi, lezo ezichazwe njengezibopho zokushisekela izwe azitholakali ngaso sonke isikhathi ekunikezelweni okwenziwayo. kusuka emiphakathini ehlukene ezimele. Uma kungenjalo, ngokuphambene nalokho, ukuba khona kwayo okwamanje kuyindlala ngenxa yezinkinga zezimali ezingxenyeni ezizimele. Kuze kube seqophelweni lokuthi kunzima kakhulu ukuwathola ngalesi sikhathi esiqondile. Lokhu kuyinto ejwayelekile ebilokhu iphindaphindeka selokhu kwaba nenkinga yezomnotho edlule. Ngokuphakanyiswa okumbalwa kuphela okuvele kokunikezwayo kuleli banga lemikhiqizo.
Amamajini ahlukene enzuzweni
Iqiniso lokuthi inani lenzalo elinikezwa ngamabhondi okushisekela izwe lihlukene kakhulu kungenxa yengozi ethwalwa yilowo nalowo kubo. Lapho inzuzo isiphezulu nabo baphakeme. Ngenkathi ngakolunye uhlangothi, lezo ezikhiqiza inzalo enesizotha, cishe 1% noma 2%, yilezo nikeza ukuphepha okwengeziwe futhi izingozi zincipha ngokuphawulekayo. Konke lokhu kususelwa kumamaki anikezwe ama-ejensi wokulinganisa. Ngalo mqondo, nokunikeza isibonelo esisebenzayo, ukukhishwa kwamabhondi eCatalonia kuveza inzuzo ephezulu kakhulu ngoba ingozi yayo iphezulu kakhulu. Ngokuphakanyiswa okumbalwa kuphela okuvele kokunikezwayo kulesi sigaba semikhiqizo ehloselwe ukutshalwa kwezimali kwangasese nangasese.
Lezi zici ziyinhlangano ejwayelekile yalo mkhiqizo ehlose ukonga futhi ngasikhathi sinye ivumela abatshalizimali abancane nabaphakathi ukuba bakhethe imodeli abayifunayo kakhulu. Lapho kufanele uhlanganise khona inzuzo nezingozi ezibophweni zokushisekela izwe lakho. Ukufeza ukulinganisa okulinganiselayo okususelwe kuzo zonke lezi zinto eziguqukayo. Ngezinkinga ezitholakala ngamanani ahlukile wenkontileka. Ngaphandle kokunye ukucatshangelwa kobuchwepheshe futhi mhlawumbe futhi kusukela ekubukeni kwezisekelo zayo.
Izinzuzo zale mikhiqizo
Izinzuzo ezenziwa ngokuthola lezi zinhlobo zokonga kufanele zigqanyiswe. Phakathi kwalabo abavelele iminikelo elandelayo esiyiveza ngezansi:
- Banikela nge- inzuzo engaguquki yize incane kakhulu ekufuneni abanikazi bayo.
- Ungakhetha phakathi amamodeli ahlukile inkontileka ngokuya ngezidingo zangempela zabasebenzisi bebhange.
- Inzuzo yakho ukhokhiswa ekuqaleni yokwenza kwayo ngokusemthethweni hhayi ekuvuthweni ukukhiqiza ukuheha okukhulu ukuyibhalisela.
- Zenziwe nge izikhathi zokugcina unomphela futhi ngenxa yalokho unikeze ukuguquguquka okukhulu kokuyiqasha nganoma yisiphi isikhathi.
- Yimikhiqizo eyiyo kuvunyelwe yindikimba yomphakathi futhi hhayi ngasese nokuthi ngalomqondo kungakhipha ukuphepha okukhulu kunzuzo eyenziwe ngamabhondi.
- Kungumkhiqizo okususelwe emholweni ongaguquki futhi lokhu kusho ukuthi inzuzo yabo incane kakhulu futhi ezimweni eziningi isezingeni eliphansi, njengoba kwenzeka okwamanje.
- Akuwona umkhiqizo wezezimali ohambisanayo, kepha kunalokho kunezindlela ezahlukahlukene ezingasayinwa: izibopho zombuso, amabhondi okushisekela izwe, njll.
- Futhi ekugcineni, akungabazeki ukuthi kungenye indlela ongakhetha ukwenza imali oyongile izuze.