FT Guide to Bond and Money Markets

CHAPTER 7

INTERNATIONAL BONDS

This chapter focuses on ways of raising money by selling bonds outside of the issuer’s home currency. This may be done by issuing bonds in another country under the regulatory constraints of that country (foreign bonds) or may be done outside of the jurisdiction of any country, with no interference from national regulators or tax authorities (Eurobonds). It may also be done by setting up an ongoing programme of issuance of a number of medium-term bonds/notes through an arrangement with an investment bank(s) acting as a manager helping the sale of bonds every few weeks in the amounts, currency and type that suit the borrower at that time. Finally, the chapter discusses the principles behind the rapidly growing ...