In this case an enterprise disburses restructuring of debt on the floating debt the bills of exchange. A bill of exchange, thus, is a new obligation which must be carried out in accordance with the again set terms and frequently with less interest payment. It remits a debt an enterprise in this period and accordingly instrumental in the improvement of performance of company indicators.

In spite of the fact that the recipients of bills of exchange still remain without "means" creditors, nevertheless they acquire some advantages. For example, the bill of exchange of enterprise can be sold the third persons and thus to get payment on these obligations before the set time.

In case if an enterprise is in a difficult financial situation, and this argument is accordingly considered insufficient, both guidance of enterprise can explain to the creditors, that if they will not accept these bills of exchange or an enterprise will be liquidated probably. And at that rate, these creditors will get only part of the facilities or in general nothing will get, because above all things payments will be carried out other categories of creditors. Thus, creditor almost loses nothing, if goes to such concessions.

Enterprise which this type of restructuring will walk up: Enterprises with heavy financial position (on verge of bankruptcy or to voluntarily liquidation), which do not have assets which can it would be be used as providing on debts practically, and also those enterprises, which know that the third parties are interested in acquisition of requirements to them.

Creditors which can be interested in this approach: Creditors, which realize that this concession is the unique method to avoid liquidation of enterprise, and also those, who wants to sell the requirements to the enterprise (certainly only in case that he can find the buyer of these debts).

Unsecured notes have the substantial failings. The holder of such bills of exchange is included in the category of "Other creditors" which in the case of liquidation of enterprise get payments in the latest turn, and risk to get nothing. Besides for the same reason he scarcely will be able to sell this bill of exchange. By what appearance an enterprise can promote liquidity of the debt obligations?

An enterprise can appeal to large financial institution and agree with him about:

1. An enterprise enters into a contract with a bank on a grant to him comparatively inexpensive, but well-to-do (by a property mortgage, guarantee, guarantee, other) credit.

2. A bank gives out a credit money not facilities, but bills of exchange, written on an enterprise.

3. An enterprise disburses with the creditors banker's bills, but in requires replacements reductions of debt.

4. Creditors either sell banker's bills or produce them in a bank to payment.

5. A bank pays the produced bills of exchange, and an enterprise returns the got credit in accordance with the conditions of the credit agreement.

In this transaction an enterprise actually substitutes for the numerous without "means" creditors one "well-to-do" creditor - bank, which allots credit an enterprise with an interest rate below, than rates on the unrestructured debts. Creditors win because instead of doubtful debts they get fully certain requirements to the bank. Therefore enterprise in exchange on this confidence in debt retirement can require the different type of concession from the side of creditors. A bank draws interest for allotted credit, and at the same time a bank does not doubt in redemption of this credit, as this credit is well-to-do.

From the legal point of view it is an enough difficult transaction, therefore before to sign acceding to the bank it is necessary to be carefully consulted with lawyers.