商务英语4课文翻译Raising Finance

Raising Finance-翻译Raising Finance 融资 When a company is growing rapidly, for example whencontemplating investment in capital equipment or an acquisition, its currentfinancial resources may be inadequate. 当一家公司迅速成长时，例如考虑投资固定设备或进行收购时，它的资金流（current financialresources 翻译不准）可能不够充足。Few growing companies are ableto finance their expansion plans from cash flow alone.很少有成长中的公司能够仅通过现金流为他们的扩张计划融资。They will therefore need toconsider raising finance from other external sources. 因此，他们需要考虑从其他外部来源进行融资。In addition, managers who arelooking to buy-in to a business(managementbuy-in or MBI)or buy-out(management buy-outor MBO) abusiness from its owners, may not have the resources to acquire the company. 此外，正准备从公司所有者手中对公司进行外部管理层收购或企业内部管理层收购的管理者们可能没有财力收购该公司。They will need to raise financeto achieve their objectives. 他们需要筹集资金以达到他们的目标。 There are a number of potentialsources of finance to meet the needs of a growing business or to finance an MBIor MBO: 有很多潜在的资金来源，可以满足成长中的企业或为外部管理层收购或企业内部管理层收购融资。-Existing shareholders anddirectors funds 现有股东和董事基金 -Family and friends 家庭和朋友 -Business angels 天使投资者 -Clearing banks (overdrafts,short or medium term loans) 清算银行（透支，中短期贷款） - Invoicediscounting 发票贴现 -Hire purchaseand leasing 分期付款购买和租赁 -Merchant banks(medium to longer term loans) 商业银行(中长期贷款 )-Venturecapital 风险资本A key consideration in choosing the source of newbusiness finance is to strike a balance between equity and debt to ensure thefunding structure suits the business. 平衡权益和负债以保证融资结构适合企业是选择新企业融资来源的一个重要考虑因素。The main differences between borrowed money (debt) and equity are that，with debt, bankers request interest payments and capital repayments, andthe borrowed money is usually secured on business assets or the personal assetsof shareholders and/or directors.借来的钱（负债）和权益的主要区别在于：对于负债，银行家请求支付利息和偿还资本，借来的钱通常用企业的资产或股东或董事的个人资产进行担保。A bank also has the power to place a business into administration orbankruptcy if it defaults on debt interest or repayments or its prospectsdecline. 如果企业拖欠债务、利息或还款或它的前景下降（预期下降），银行也有能力将企业置于行政管制或破产。（placea business into administration 翻译不确定）In contrast, equity investors take the risk of failure like othershareholders, whilst they will benefit through participation in increasinglevels of profits and on the eventual sale of their stake. 相反，股票投资者像其他股东一样承担(投资)失败的风险,同时，他们能在利润增长和最终销售股票时获益。The overall objective in raisingfinance for a company is to avoid exposing the business to excessive highborrowings, but without unnecessarily diluting the share capital. 一个公司的总体融资目标是避免企业曝露于过高的借款风险，没有不必要的稀释股权资本。This will ensure that the financialrisk of the company is kept at an optimal level. 这将确保公司的财务风险保持在一个最优水平。 Raising finance is dependent on a good business plan which demonstratesthat the management is aware of all the risks involved. 融资依赖于一个好的商业计划，该计划表明管理层知道所有涉及的风险。 Types of Finance 融资类型 Venture capital 风险资本 Venture capital is a general term to describe a rangeof ordinary and preference shares where the investing institution acquires ashare in the business. 风险资本是一个描述投资机构取得企业一系列普通股和优先股的总括术语，Venture capital is intended for higher risks such as start-up situationsand development capital for more mature investments. 风险资本用于像新建企业的高风险投资和更为成熟的开发资金投资。（本句有问题）There are also certain large industrial companies which have fundsavailable to invest in growing businesses and this corporate venturing is anadditional source of equity finance.也有一些大型工业企业有基金可用于投资成长型企业，这种公司风险投资是股权融资的另一个来源。Grants 政府拨款 Government,local authorities and local development agencies are the major sources ofgrants(政府拨款). 政府、地方当局和地方发展机构是政府拨款的主要来源。 Grants are normally made tofacilitate the purchase of assets and either the generation of jobs or thetraining of employees. 政府拨款通常用于帮助购买资产、为某代人提供就业岗位或培训员工。InvoiceDiscounting 发票贴现 Finance can beraised against debts due from customers via invoice discounting, thus improvingcash flow. 资金可以通过对客户所欠债务进行发票贴现筹集，从而改善现金流。Debtors are used as the primesecurity for the lender and the borrower may obtain up to about 80 per cent ofapproved debts. 债务人是放款人的主要抵押品（primesecurity 翻不准），借款人可能获得高达 80%的核准债务。Hire Purchaseand Leasing 分期付款购买和租赁 Hire purchase(分期付款购货信贷 ) agreementsand leasing(租赁) providefinance for the acquisition of specific assets such as cars, equipment andmachinery involving a deposit and repayments over, typically, three to tenyears. 租购（分期付款购货信贷）协议和租赁为获得诸如汽车、设备和机械等特定资产筹措资金，包括定金和典型的三到十年的还款。Loans 贷款 Medium termloans (up to seven years) and long term loans (including commercial mortgages)are provided for specific purposes such as acquiring an asset, business orshares. 中期贷款（多达七年）和长期贷款（包括商业抵押贷款）为诸如资产收购、公司收购或股票收购等特定目的而提供。 The loan is normally secured onthe asset or assets and the interest rate may be variable or fixed. 贷款通常用一项资产或多项资产担保，利息可能是浮动的或变动的。Bank Overdraft 银行透支 An overdraft is an agreed sum bywhich a customer can overdraw their current account.透支是一个约定的金额，在此额度内，客户可以透支他们的现金账户。It is normally secured oncurrent assets, repayable on demand and used for short term working capitalfluctuations. 它通常是以流动资产担保，立即付款，用于应对短期营运资金波动。 The interest cost is normallyvariable and linked to the bank base rate. 利息费用通常是浮动的，与银行基本利率相联系。 Completing theFinance-raising 完成资金筹集 Raising financeis often a complex process. 融资通常是一个复杂的过程。 Business management needs to assess several alternatives and then negotiate terms which are acceptable to the finance provider.企业管理层需要评估几种方案，然后协商哪些条款金融提供者能够接受。 The main negotiating points areoften as follows: 主要的谈判点通常如下: - Whether equity investors takea seat on the board 股权投资者是否在董事会占有席位- Votes ascribed to equity investors 股权投资者所持票数- Level of warranties and indemnities provided by the directors 担保水平和董事提供的保障（赔偿）- Financiers fees and costs 投资家（金融家）的费用和成本 - Who bears costs of duediligence. 谁承担尽职调查的费用。