The deflation in turn increases the real cost of debt.

通缩反过来又提高了负债的真正支出。

Don't forget that a 40bp rise in the cost of debt is as costly as the whole tax cut bill for 2005.

切记，债务费用上升40个基点，其费用相当于2005年全部减税的帐单。

He said that firms should not use debt beyond the point where the cost of debt becomes larger than the tax advantage.

他说当债务成本变得比税收优势更大时公司就不应该使用债务了。

And a bigger equity cushion should help to reduce the cost of debt by counteracting fears that debtholders are too exposed to losses.

更多的资金缓冲会有助于通过抵消债权人对于损失过多的担忧来降低举债成本。

According to the western financial theories, the cost of debt capital is lower by far than that of equity capital because of risk and tax.

西方财务理论认为，由于风险和税收的原因，债权资本成本远远低于股权资本。