BOND LOANS AS A WAY TO ATTRACT INVESTMENTS BY CONSTRUCTION INDUSTRY ENTERPRISES

The construction industry is one of the most important branches of the Russian economy, which together with the housing and communal services sector occupies about 10 % of the country’s GDP today. The development of the construction industry in Russia has already had a fairly long history, but it is still possible to observe various kinds of transformational processes taking place in this sector of the economy. The state of the market is changing dynamically depending on the prevailing socio-economic conditions, legal regulation and government support for the industry, as well as the geopolitical situation in the world. At the same time, ensuring the stability of the functioning of enterprises in the construction field is the most important task facing any country, the solution of which can contribute to the provision of housing for the population, the construction of new and reconstruction of old social and transport infrastructure facilities, etc. In this regard, not only the issues of state regulation of companies in the construction industry become relevant for the study, but also those financial mechanisms that each individual market entity implements to ensure its sustainability and development. That is why the analysis of the capital structure, the assessment of debt sources of financing of individual companies, the identification of the investment potential of the subjects of the construction industry market are of particular interest to study. This article analyzes the reasons for attracting borrowed funds to the construction industry, examines the sources of construction financing, among which a special place is given to bank lending and bond issuance. Attention is focused on the study of bond loans as the most promising and effective instrument for attracting investments by enterprises of the construction industry. Based on the analysis of statistical data and expert opinions, a conclusion is made about the advantages of issuing their own bonds by construction companies over bank lending and about the prospects for their wider application in Russian practice.

investments, financing, capital structure, bank lending, escrow accounts, issuer, bond loans, corporate bonds, construction industry enterprises, attracted capital, debt, real estate market

Timofeeva A. A., Kuryshova I. V. Bond loans as a way to attract investments by construction industry enterprises. Business. Education. Law, 2023, no. 1, pp. 142—148. DOI: 10.25683/VOLBI.2023.62.566.