Chapter five hundred and eighty seventh, debt-to-equity swap(1/2)
Nanyi is doing things well, and it is comfortable to do work on the Jingjun Construction side, so the project progress is naturally faster.
In the account of Yaqing Company, money flowed out like flowing water.
One day in late April, Fan Guangfu came to Nanyi to express his concern about the situation of Yaqing Company.
Nan Yi took Fan Guangfu to the Yaqing construction site first, and then to the dormitory building construction site near Zhichun Road. The area where Zhichun Road and Wudaokou is still quite desolate now, and there are many open spaces next to it. But if it is more than ten years later, this place will be where Dayun Village is located, and there are many universities around it, which is definitely a place where every inch of land is valuable.
When talking with Min Jinsheng, Nan Yi had already placed the right to use this land under the name of Yaqing Company. As for the right to ownership, there is no doubt that of course it belongs to the state.
"President Fan, look, the frame of this building has been built and is now in the decoration project. On the 25th of next month, people will move in. I have contacted the furniture factory and placed an order. Once delivered here, the furniture will be brought over immediately." Standing outside the dormitory building wearing a hard hat, Nan Yi pointed at the dormitory building.
Fan Guangfu looked at the dormitory building with his hands behind his back, and looked around, "Can you evenly set up a few rooms? There are many employees in our bank who are from other places, and it is difficult to solve housing."
"President Fan, how much do you want? Too much can't be evenly matched. I can still do it if I have more than ten or twenty rooms."
Each dormitory building has 417 rooms that can be used to live in, and two buildings have a total of 834 rooms. When Nanyi was making a budget, he had room to leave.
There are several units in the entire capital that are not difficult to live in. Nanyi originally reserved some of the rooms here for favors.
"Haha, if you don't make things difficult for you, just give me twenty rooms evenly, and you won't give them for free. Our bank will give you 120 yuan in rent for Yaqing Company every month."
Six yuan per room is the market price of renting a house in the Beijing Housing Management Office. It is just a good house like a dormitory building. It exists objectively but has nothing to do with most ordinary people.
"No problem, how about the second floor?"
"The second floor is pretty good." Fan Guangfu nodded and said.
"On the other day, I plan to find a calligrapher to write a name for the three buildings. I plan to call the first building the low-rent building, the other building is called the public rental building, and the one in Haidian District is called the affordable building." Nan Yi pointed in a direction and said, "There are also carports for motorcycles and bicycles there, and there is also a motorcycle repair shop next to the parking shed."
"Motorcycle? There are not many people now. Is it necessary to plan a motorcycle parking shed?" Fan Guangfu asked in surprise.
"Governor Fan, the salary of those who can live here will not be too low. Grip your teeth and make up for it. You can still afford to buy a motorcycle worth two or three thousand yuan. Now you must make reservations."
"Yes, just the wages of your Yaqing Company's employees can be bought after saving for a year." Fan Guangfu took off his hard hat, stroked his thin hair, and said, "I have also seen the construction site, let's find a place to sit."
What kind of cafes or music tea bars are available in Beijing today? It is easier than finding a teahouse. Nan Yi and Fan Guangfu found a cafe nearby and sat down.
"The reason I came to you today is because most of the money in your Yaqing Company's account has been spent."
"Does President Fan send someone to follow me every day? I have a passport in my hand. When I don't pay attention, I will go abroad." Nan Yi said with a smile.
Fan Guangfu said happily: "Run, I wish you ran away. You ran away today, and I will have someone come over to take over Yaqing Company tomorrow, and then ask your grandma for the account."
"Hahaha, President Fan is fearless."
"Without any guarantee, how dare I lend you such a large amount of money? In fact, our bank is very optimistic about the Asia-Qingdale project, and someone in the bank proposed to convert part of your loan into shares."
"Debt-to-equity conversion?"
"Yes." Fan Guangfu nodded.
"The feasibility is not high. Some time ago, Genzheng Miaohong Company sent a notice to your bank. Have you read it?"
"Information of shareholders, shares changes?"
Nan Yi nodded, "Yes, we have added a new shareholder, you should know the name, but you may not know that our company transferred the shares to her according to the appraisal."
"How many?"
"45% of the shares, $38.7 million, not only money, but other additional conditions."
Fan Guangfu took a long breath and said, "So, Gen Zhengmiaohong's valuation has reached US$86 million?"
"Yes." Nan Yi nodded, "No matter what the official exchange rate is, if your bank wants to convert debt to equity, a loan of 80 million yuan will be converted into US dollars, we will only recognize the number 8 million.
Moreover, we will not agree that your bank will turn all loans into shares. As a manager, I can accept transfer of up to 5% of Genzheng Miaohong shares, and the number that shareholders can accept should be smaller."
"There are too few shares and the conditions are too harsh. As for the exchange rate you mentioned, our bank will not agree to it. We only accept the official exchange rate."
"So we can't reach an agreement. In fact, we have no plans to absorb other shareholders. Recently, the company is discussing the issue of capital injection, and we have a new plan soon."
"You can't fight for the shareholders?" Fan Guangfu said unwillingly.
"Governor Fan, Genzheng Miaohong is not Yaqing Company, and the initiative is in the hands of four shareholders. Even if your bank acquires shares, it becomes Genzheng Miaohong's shareholder. The other shareholders are not short of money. If they initiate a financing plan, such as financing of 100 million US dollars, will your bank follow or not?
If you pay, pay for it, the shares will be diluted. You can get financing once or several more. After several financings, your bank's shares will be diluted to a little bit and you have no say in the company.
After that, whether Guihang is a Taiping shareholder or a sucker depends on the shareholders' mood.
In foreign countries, capital has many ways to play. As long as the capital is strong, some are reasonable and legal means to swallow up your bank's shares.
As long as Genzheng Miaohong comes with one or two failed investments, it can become insolvent in an instant. At that time, shareholders propose to sell Genzheng Miaohong with the debt for 1 USD. Will your bank agree or disagree?"
"Just to frame our bank, other shareholders will follow us to make losses?" Fan Guangfu said in disbelief.
Nan Yi stretched out his left hand, bent his other fingers, and only raised his little finger, and smiled: "As I said before, shareholders have strong capital and naturally have many industries. In their eyes, it is this little finger. If you cut it down, the nutrients can be delivered to the other four fingers. It seems to be a loss, but the meat has always been in their pot and has never left.
What should I do business? I still do it. Just a little operation and eat your bank's shares to plug in the gaps between my teeth. Why not do it?"
"This... Xiaonan, you didn't exaggerate the facts?"
"No, in order to make you less harsh, I beautify it instead."
Nan Yi didn't want to convert debt to equity at all, so he said an "objective fact" that seems reasonable but is unlikely to happen.
What kind of hatred and grudge are there to make the major shareholders spend so much effort to build a small shareholder.
Dear, that is not business, that is revenge.
Fan Guangfu hesitated for a long time before saying, "Okay, I'll consider this matter again."
"From my personal standpoint, I don't really recommend that your bank convert debt to equity."
Finally, Nan Yi said this, and as a summary, he concluded his discussion with Fan Guangfu.
...
One day, Nan Yi was practicing in the park in the morning and suddenly realized the mystery of the Murong family's unique skills. He used one move and the calendar roared and pages rushed forward. Until this page on May 23, after stubbornly shaking several times, he did not follow the trend, and stood firmly there.
"Hello, Yaqing Company, Nanyi."
"I, Chen Feng, find a place to sit at night."
"Didn't you go to Kazuki?"
"It's been two days since I came back, and the phone is inconvenient, so I'll talk about it tonight."
“For the decision just released today?”
"Let's talk about it tonight."
"Go to my place."
"OK."
After hanging up the phone, Nan Yi went to the low-rent building, holding a small hammer, knocking on the hammer in the east, and studying the circuit in the corridor to figure out which line the lights were from.
The electricity bill for corridor lighting is a common place where there is a quarrel. You must clarify how to collect the electricity bill to make it reasonable.
The house has been built by Yaqing Company, and the company cannot bear the cost of water and electricity bills. For most people, it is completely different to paying for money by themselves and not having to pay. If Yaqing Company bears the water and electricity bill, if someone in the building dares to keep the lights off for a year, it will be troublesome to turn off the faucet after turning off.
Within two years, the spent utility bill can build a new dormitory building.
After spending a day in the low-rent building, I found no particularly obvious flaws or mistakes, so Nan Yi could wait for someone to move in with confidence.
There is no need to care about formaldehyde, the furniture in the room is fixed with tenons and bamboo nails, no woodworking glue, no foreign nails [iron nails], and no paint, it is directly pure green; the doors and windows are painted, but the wind has been passed in the furniture factory.
In other cases, there are not many materials that can emit formaldehyde in the room. The dose of formaldehyde is minimal, at least much less than that in later years, the rooms that have undergone various formaldehyde removal operations.
When Nan Yi returned to the old villa, Chen Feng was already there and was gathering beside the crib to tease Nan Wuwei.
"Shall away from my son with the smell of smoke."
"I said to Nan Yi, let your son recognize me as his godfather."
"Forget it, godfather, should I do it?"
"It's also...Fuck me, take advantage of me." Chen Feng woke up and spat.
"Come here and sit down, drink something, I have yellow, red beer and white, here." Nan Yi said while sitting at the dining table.
"Isn't there tiger blood wine? Let's drink that one."
"It's gone. I've finished drinking my own. Don't worry about the remaining jar. It's something that others have put in me and didn't take away. You can choose the scorpion, the dragon, and the seahorse at will."
"Dragon."
"become."
Nan Yi stood up and took out a glass jar from the space under the stairs. Through the outer wall, you could see several large centipedes soaked in the jar.
"Why is this centipede so big?" Chen Feng exclaimed as he saw the glass jar in Nan Yi's hand.
"Red Dragon, the largest centipede in our country, is not very toxic, so I can drink it just by drinking it. Next time I will give you a bottle of wine soaked in Crane Red to make you enjoy it."
"Can you drink?" Chen Feng asked.
"I don't know, I may not die."
"Punch."
Suddenly, Liu Zhen served the dishes on the table, and Nan Yi and the others drank and chatted.
"I just posted the decision today, have you seen it?" Chen Feng said after taking a sip of wine.
To be continued...