发行人不得在公告公开发行募集文件前发行证券。
An issuer may not issue any securities before an announcement of the relevant financial documents of public issuance.
发行人不得在公告公开发行募集文件之前发行证券。
No issuer shall issue securities prior to the announcement of the document on public issuance and raising.
理论上，这样使得担保人的利益和公司发行证券的利益联系起来。
In theory this would align the interests of underwriters with the companies on whose behalf they issue securities.
非公开发行证券，不得采用广告、公开劝诱和变相公开方式。
Where securities are issued in non-public manners, no advertising, public solicitation or any other covert ways in disguised form shall be employed.
未经依法核准或者审批，任何单位和个人不得向社会公开发行证券。
Without attaining prior approval according to law, no unit or individual is allowed to openly issue securities to the public.
未经依法核准或者审批，任何单位和个人不得向社会公开发行证券。
No unit or individual may make a public offer of securities if the same has not been verified or examined and approved according to law.
第二十九条公开发行证券的发行人有权依法自主选择承销的证券公司。
Article 29 an issuer that makes public issuance of securities has the right to select a securities company for underwriting according to law at its own will.
第二十九条公开发行证券的发行人有权依法自主选择承销的证券公司。
Article 29 an issuer that is to issue securities publicly shall have the right to make its own decision in selecting securities companies for underwriting pursuant to law.
欺诈发行证券罪是一种由特殊的犯罪主体在证券发行过程中故意实施的典型的证券犯罪。
The offence of issuing security by deception is a typical security crime which is deliberately committed by a special criminal object in the process of issuing security.
公开说明书定稿列出新发行证券的价格、交割日期及其他对投资者重要的资料的法律文件。
Final Prospectus a legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors.
尽管如此，关于那些债券不可能发行或者会比发行证券更加昂贵的言论看起来是有些愚蠢的。
Still, claims that the bonds will be impossible to sell or more expensive to issue than equity look silly.
银行放贷时要收费，将房贷卖给投行时也要收费，接下来投行将房贷重组并发行证券时还要收费。
Mortgages were written for a fee, sold to investment Banks for a fee, then packaged and floated for another fee.
假如投资者的收益一定，要发行证券的话，借款者偿付的利率应为6.85%，比当前的利率水平整整高出一个百分点。
To place a new issue, given the yields demanded by investors, the interest rate payable by borrowers must be 6.85%, a full percentage point higher than current levels.
Zynga据说正在仔细筹划公开发行证券的事情，显然他们不愿将所有鸡蛋都放到Facebook一个篮子里。
Zynga, which is said to be contemplating a public offering, clearly does not want to have all its eggs in the Facebook basket.
摩根·斯坦利美邦不仅提供了一个庞大的销售平台——例如，公司最近为通用汽车率领发行证券——而且也是一个有用的存款来源。
Morgan Stanley Smith Barney (MSSB) not only provides a huge distribution platform-for instance, the firm recently led a stock offering for General motors-but is also a useful source of deposits.
虽然我宁愿有别的做法，但是在目前的金融环境下，我看没有别的选择，只能要求那些证券化方持有他们所发行证券中的相当一大部分。
As much as I would prefer it otherwise, in this financial environment I see no choice but to require that all securitizers retain a meaningful part of the securities they issue.
首先，公司在举越来越多的债务，通过私下发行的贷款工具，而不是采用向大众公开发行证券——比如出售股票或者发行债券，这些都可以进行公开的交易。
First, companies are raising more and more capital through privately issued loan instruments, as opposed to public equity-such as selling stocks or issuing bonds, which can be openly traded.
最近全球债券市场上私营公司发行债券的势头趋于看涨，这是因为银行和公司借款者(corporate borrowers)之间产生“脱媒现象”(disintermediation)或者叫“逆中介化现象”(即指资金需要者采取发行证券而不是采取向金融机构借款的方式筹措资金)。
The markets are seeing a rising trend of securities being issued by private companies, a result of the disintermediation between the banks and corporate borrowers.
但是进一步说，扣减率的高级债务和类似于救市计划发行的证券的优先股，都会由于自身的不稳定性，给决策者带来难以承受的风险。
To go further, however, and "haircut" senior debt or even existing preferred stock similar to that issued via the TARP would create an instability policymakers should not want to risk.
财务经理可以找到以实物资产为基础的期权——实物期权，和以公司发行的证券为基础的期权。
Financial managers find options lurking in real assets-that is, real options-and in the securities the firms may issue.
评级是抵押证券发行的关键，从而导致了泡沫。
Ratings were crucial to the distribution of mortgage securities, and therefore to the bubble.
摩根士丹利支付给中投公司的年利率为9%（与瑞银近期发行的证券利率一致），与其税后股息相比有5个百分点的溢价。
The 9 per cent interest rate, which is line with that paid by UBS in its recent issue, represents a 5 percentage point after tax premium to its dividend.
摩根士丹利支付给中投公司的年利率为9%（与瑞银近期发行的证券利率一致），与其税后股息相比有5个百分点的溢价。
The 9 per cent interest rate, which is line with that paid by UBS in its recent issue, represents a 5 percentage point after tax premium to its dividend.
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