新一轮的国际融资启动

Businesses and governments around the world have rushed to raise tens of billions of dollars from bond markets, embarking on a frenetic round of new year fundraising amid fears that interest rates are set to jump.
由于担心利率上升，全球各国企业和政府纷纷涌入债券市场募集巨额资金，从而启动了新一轮的新年融资狂潮。

A flurry of issuers including Sir Richard Branson's Virgin Media, BMW and Manchester United football club, turned to the capital markets yesterday aiming to raise more than $20bn.
包括李察．布莱信爵士(Sir Richard Branson)旗下的维珍媒体(Virgin Media)、宝马(BMW)以及曼联俱乐部(Manchester United)在内的众多发行方昨日转向资本市场，计划融资200多亿美元。

Poland and Mexico were among a number of governments that also tapped international investors.
波兰和墨西哥等多国政府也已经选择了国际投资者。

So far this month, more than $75bn has been raised, more than two-thirds of this by financial institutions trying to repair their balance sheets in the wake of the economic crisis.
本月迄今为止，总融资额已超过750亿美元，其中三分之二以上为金融机构发行，在经济危机之后，它们试图修复自己的资产负债表。

Investors are expecting a spurt of issuance this week by junk-rated European companies, a sector of the bond market that was frozen for much of last year. Last week, the US corporate bond market had its second-ever busiest day.
投资者预计垃圾级欧洲企业的债券发行本周将出现井喷，在去年的大部分时间里，债券市场的这一领域都处于冻结状态。上周，美国企业债券市场迎来了有史以来第二繁忙的交易日。

Wayne Hiley, of Barclays Capital, said a recent rally in the corporate bond markets had lowered the interest rate premium to government bonds that businesses pay. That has encouraged a wave of opportunistic borrowing.
巴克莱(Barclays Capital)的韦恩．希利(Wayne Hiley)表示，企业债券市场近来的反弹，降低了企业向政府债券所支付的利率溢价。这推动了一波出于机会主义的借贷。

“There are issuers who are saying ‘let's take advantage of this' even if they hadn't planned to come to the market until later on,” he said.
他表示：“有些发行人说‘让我们充分利用这种形势'，尽管他们此前并不打算这么早进入市场。”

Companies usually aim to sell bonds early in the year when investors have fresh funds and before many companies enter a “purdah” period ahead of earnings announcements.
企业通常计划在年初发行债券，因为此时投资者手中握有新的资金，且许多企业尚未进入发布业绩前的“朦胧”期。

However, the current round of capital raising is particularly intense and reflects concerns about the global economy and likely path of interest rates.
不过，眼下的这波融资潮尤为剧烈，反映了人们对于全球经济及可能的利率走势的担忧。