什么是负债性融资？

中文版：

负债性融资是企业通过发行债券、向银行借款、吸收商业信用等方式筹集资金的行为，是企业融资的重要方式之一。负债性融资形成的债务，企业需要按照约定的期限和利率还本付息。

负债性融资具有一些显著的特点。首先，它能够帮助企业快速获得所需资金，满足企业的短期或长期资金需求。其次，负债性融资通常具有相对较低的融资成本，因为企业可以通过发行债券或向银行借款等方式筹集资金，这些方式通常比股权融资的成本更低。此外，负债性融资还有助于提高企业的财务杠杆效应，因为企业可以通过债务融资来扩大经营规模，提高盈利能力。

然而，负债性融资也存在一定的风险。如果企业无法按时偿还债务，将会面临违约的风险，可能导致企业信用受损，甚至破产倒闭。因此，在使用负债性融资时，企业需要谨慎评估自身的还款能力和风险承受能力，制定科学的融资计划和风险管理措施。

英文版：

What is Debt Financing?

Debt financing refers to the act of raising funds by a business through means such as bond issuance, bank loans, and commercial credit absorption. It is one of the critical financing methods for enterprises. When debt financing is utilized, the enterprise is obligated to repay the principal and interest according to the agreed-upon terms and interest rates.

Debt financing carries several distinct characteristics. Firstly, it enables businesses to quickly obtain the required funds, meeting their short-term or long-term capital needs. Secondly, debt financing typically has relatively lower financing costs compared to equity financing, as companies can raise funds through bond issuance or bank loans, which are generally cheaper. Furthermore, debt financing can enhance a company's financial leverage effect, allowing it to expand its operations and improve profitability.

However, debt financing also poses certain risks. If a business is unable to repay its debts on time, it faces the risk of default, potentially leading to damaged credit or even bankruptcy. Therefore, when utilizing debt financing, companies must carefully evaluate their repayment capacity and risk tolerance, developing scientific financing plans and risk management measures.