{"id":31096,"date":"2023-12-07T10:19:58","date_gmt":"2023-12-07T10:19:58","guid":{"rendered":"https:\/\/masterskills.org\/blog\/trai-phieu-dao-han-chuoi-serial-bond-la-gi.html"},"modified":"2023-12-23T07:24:56","modified_gmt":"2023-12-23T00:24:56","slug":"trai-phieu-dao-han-chuoi-serial-bond-la-gi","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/trai-phieu-dao-han-chuoi-serial-bond-la-gi.html","title":{"rendered":"Tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n chu\u1ed7i (Serial Bond) l\u00e0 g\u00ec?"},"content":{"rendered":"
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H\u00ecnh minh h\u1ecda<\/p>\n<\/div>\n<\/div>\n

Tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n chu\u1ed7i (Serial Bond)<\/font><\/h2>\n

\u0110\u1ecbnh ngh\u0129a<\/b><\/p>\n

Tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n chu\u1ed7i<\/b> trong ti\u1ebfng Anh l\u00e0 Serial Bond<\/b>.\u00a0Tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n chu\u1ed7i<\/i> trong m\u1ed9t s\u1ed1 t\u00e0i li\u1ec7u g\u1ecdi l\u00e0 tr\u00e1i phi\u1ebfu tr\u1ea3 nhi\u1ec1u l\u1ea7n<\/i>.<\/p>\n

Tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n chu\u1ed7i l\u00e0 lo\u1ea1i tr\u00e1i phi\u1ebfu c\u00f3 v\u1ed1n g\u1ed1c \u0111\u01b0\u1ee3c chia th\u00e0nh nhi\u1ec1u k\u00ec ho\u00e0n tr\u1ea3. Khi m\u1ed9t tr\u00e1i phi\u1ebfu \u0111\u01b0\u1ee3c thi\u1ebft k\u1ebf \u0111\u00e1o h\u1ea1n chu\u1ed7i, t\u1ec9 l\u1ec7 ho\u00e0n tr\u1ea3 s\u1ebd \u0111\u00e1o h\u1ea1n theo t\u1eebng kho\u1ea3n cho \u0111\u1ebfn khi to\u00e0n b\u1ed9 n\u1ee3 g\u1ed1c \u0111\u01b0\u1ee3c thanh to\u00e1n.<\/p>\n

Hi\u1ec3u v\u1ec1 tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n chu\u1ed7i<\/font><\/h3>\n

– V\u00ec tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n d\u1ea7n d\u1ea7n trong kho\u1ea3ng th\u1eddi gian nhi\u1ec1u n\u0103m, tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n chu\u1ed7i <\/b>th\u01b0\u1eddng \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 t\u00e0i tr\u1ee3 cho c\u00e1c d\u1ef1 \u00e1n t\u1ea1o ra m\u1ed9t d\u00f2ng thu nh\u1eadp \u1ed5n \u0111\u1ecbnh \u0111\u1ec3 thanh to\u00e1n tr\u00e1i phi\u1ebfu.<\/p>\n

– To\u00e0n b\u1ed9 tr\u00e1i phi\u1ebfu ph\u00e1t h\u00e0nh \u0111\u01b0\u1ee3c b\u00e1n cho c\u00f4ng ch\u00fang v\u00e0o c\u00f9ng m\u1ed9t ng\u00e0y v\u00e0 ng\u00e0y \u0111\u00e1o h\u1ea1n \u0111\u01b0\u1ee3c ch\u1ec9 r\u00f5 trong c\u00e1c t\u00e0i li\u1ec7u ch\u00e0o b\u00e1n.<\/p>\n

– Khi nh\u00e0 ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu gi\u1ea3m s\u1ed1 l\u01b0\u1ee3ng tr\u00e1i phi\u1ebfu l\u01b0u h\u00e0nh, \u0111i\u1ec1u n\u00e0y s\u1ebd gi\u1ea3m r\u1ee7i ro nh\u00e0 ph\u00e1t h\u00e0nh b\u1ecf l\u1ee1 c\u00e1c kho\u1ea3n thanh to\u00e1n g\u1ed1c ho\u1eb7c thanh to\u00e1n l\u00e3i hay m\u1ea5t kh\u1ea3 n\u0103ng thanh to\u00e1n tr\u00e1i phi\u1ebfu c\u00e1c ph\u00e1t h\u00e0nh.<\/p>\n

– Trong khi tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n chu\u1ed7i<\/i> y\u00eau c\u1ea7u nh\u00e0 ph\u00e1t h\u00e0nh ph\u1ea3i ho\u00e0n tr\u1ea3 n\u1ee3 g\u1ed1c cho c\u00e1c tr\u00e1i ch\u1ee7 v\u00e0o th\u1eddi \u0111i\u1ec3m c\u1ee5 th\u1ec3, m\u1ed9t s\u1ed1 tr\u00e1i phi\u1ebfu kh\u00e1c \u0111\u01b0\u1ee3c c\u1ea5u tr\u00fac b\u1eb1ng m\u1ed9t qu\u0129 ch\u00ecm.<\/p>\n

M\u1ed1i li\u00ean h\u1ec7 gi\u1eefa tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n chu\u1ed7i v\u00e0 tr\u00e1i phi\u1ebfu c\u00f3 \u0111i\u1ec1u kho\u1ea3n v\u1ec1 qu\u0129 ch\u00ecm<\/font><\/h3>\n

– \u0110\u1eb7c \u0111i\u1ec3m tr\u1ea3 d\u1ea7n v\u1ed1n g\u1ed1c c\u0169ng c\u00f3 \u1edf tr\u00e1i phi\u1ebfu n\u1ebfu t\u1ea1i th\u1eddi \u0111i\u1ec3m ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu c\u00f3 \u0111i\u1ec1u kho\u1ea3n v\u1ec1 qu\u0129 ch\u00ecm (a sinking fund provision). V\u00ed d\u1ee5 nh\u01b0 m\u1ed9t s\u1ed1 \u0111\u1ee3t ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu kh\u00f4ng \u0111\u1ea3m b\u1ea3o (debentures) c\u00f3 k\u00e8m theo \u0111i\u1ec1u kho\u1ea3n cho ph\u00e9p ng\u01b0\u1eddi ph\u00e1t h\u00e0nh mua l\u1ea1i m\u1ed9t s\u1ed1 l\u01b0\u1ee3ng x\u00e1c \u0111\u1ecbnh tr\u00e1i phi\u1ebfu m\u1ed7i n\u0103m.<\/p>\n

– M\u1ee5c \u0111\u00edch c\u1ee7a \u0111i\u1ec1u kho\u1ea3n qu\u0129 ch\u00ecm l\u00e0 nh\u1eb1m gi\u1ea3m r\u1ee7i ro t\u00edn d\u1ee5ng c\u1ee7a tr\u00e1i phi\u1ebfu, v\u00ec nh\u00e0 ph\u00e1t h\u00e0nh ph\u1ea3i thanh to\u00e1n m\u1ed9t kho\u1ea3n v\u1ed1n l\u1edbn (t\u1ed5ng m\u1ec7nh gi\u00e1 tr\u00e1i phi\u1ebfu \u0111\u00e3 ph\u00e1t h\u00e0nh) t\u1ea1i th\u1eddi \u0111i\u1ec3m \u0111\u00e1o h\u1ea1n.<\/p>\n

Nh\u01b0 v\u1eady, tr\u00e1i phi\u1ebfu c\u00f3 \u0111i\u1ec1u kho\u1ea3n v\u1ec1 qu\u0129 ch\u00ecm v\u00e0 tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n chu\u1ed7i \u0111\u1ec1u l\u00e0m gi\u1ea3m t\u1ed5ng s\u1ed1 l\u01b0\u1ee3ng tr\u00e1i phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh theo th\u1eddi gian.<\/p>\n

V\u00ed d\u1ee5<\/font><\/h3>\n

Tr\u00e1i phi\u1ebfu ph\u00e1t h\u00e0nh 14\/07\/1994, \u0111\u00e1o h\u1ea1n n\u0103m 2015, t\u1ed5ng gi\u00e1 tr\u1ecb ph\u00e1t h\u00e0nh: 2.875.000 USD, l\u00e3i su\u1ea5t cu\u1ed1ng phi\u1ebfu (l\u00e3i su\u1ea5t coupon) 8,75%, c\u00f3 l\u1ecbch tr\u00ecnh ho\u00e0n tr\u1ea3 ph\u1ea7n v\u1ed1n g\u1ed1c b\u1eaft \u0111\u1ea7u t\u1eeb 2004 \u0111\u1ebfn 2015. C\u1ee5 th\u1ec3 nh\u01b0 sau:<\/p>\n

B\u1ea3ng l\u1ecbch ho\u00e0n tr\u1ea3 v\u1ed1n g\u1ed1c c\u1ee7a tr\u00e1i phi\u1ebfu<\/b><\/p>\n

Ngu\u1ed3n: Michael G.LeQuang (1996, 40)<\/i><\/p>\n

\n\n\n\n\n\n\n\n\n\n
\u0110\u00e1o h\u1ea1n<\/th>\nT\u1ed5ng s\u1ed1<\/th>\n<\/tr>\n<\/thead>\n
2004<\/td>\n350.000 USD<\/p>\n<\/td>\n<\/tr>\n
2008<\/td>\n550.000\u00a0USD<\/td>\n<\/tr>\n
2010<\/td>\n650.000\u00a0USD<\/td>\n<\/tr>\n
2012<\/td>\n650.000\u00a0USD<\/td>\n<\/tr>\n
2015<\/td>\n675.000\u00a0USD<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

(T\u00e0i li\u1ec7u tham kh\u1ea3o: Gi\u00e1o tr\u00ecnh Th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh v\u00e0 c\u00e1c \u0111\u1ecbnh ch\u1ebf t\u00e0i ch\u00ednh, NXB Kinh t\u1ebf Th\u00e0nh ph\u1ed1 H\u1ed3 Ch\u00ed Minh, Investopedia)<\/i><\/p>\n<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Tr\u00e1i phi\u1ebfu \u0111\u00e1o h\u1ea1n chu\u1ed7i (ti\u1ebfng Anh: Serial Bond) l\u00e0 lo\u1ea1i tr\u00e1i phi\u1ebfu c\u00f3 v\u1ed1n g\u1ed1c \u0111\u01b0\u1ee3c chia th\u00e0nh nhi\u1ec1u k\u00ec ho\u00e0n tr\u1ea3. Khi m\u1ed9t tr\u00e1i phi\u1ebfu \u0111\u01b0\u1ee3c thi\u1ebft k\u1ebf \u0111\u00e1o h\u1ea1n chu\u1ed7i, t\u1ec9 l\u1ec7 ho\u00e0n tr\u1ea3 s\u1ebd \u0111\u00e1o h\u1ea1n theo t\u1eebng kho\u1ea3n cho \u0111\u1ebfn khi to\u00e0n b\u1ed9 n\u1ee3 g\u1ed1c \u0111\u01b0\u1ee3c thanh to\u00e1n.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31096"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=31096"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/31096\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=31096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=31096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=31096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}