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Strategic considerations for first-time sovereign bond issuers /
The recent round of debt relief has restored debt sustainability in many low-income countries (LICs). This, along with a continued search for yield and desire for portfolio diversification by investors, has increased the range of viable financing options, including international bonds, for many emer...
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , , |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
©2008.
|
| Colección: | IMF working paper ;
WP/08/261. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Das, Udaibir S., |e author. | |
| 245 | 1 | 0 | |a Strategic considerations for first-time sovereign bond issuers / |c prepared by Udaibir S. Das, Michael Papaioannou, and Magdalena Polan. |
| 260 | |a Washington, D.C. : |b International Monetary Fund, |c ©2008. | ||
| 300 | |a 1 online resource (27 pages) : |b illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
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| 338 | |a online resource |b cr |2 rdacarrier | ||
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| 500 | |a At head of title: Monetary and Capital Markets Department. | ||
| 500 | |a "November 2008." | ||
| 504 | |a Includes bibliographical references (pages 26-27). | ||
| 520 | |a The recent round of debt relief has restored debt sustainability in many low-income countries (LICs). This, along with a continued search for yield and desire for portfolio diversification by investors, has increased the range of viable financing options, including international bonds, for many emerging market (EM) economies and LICs. This paper presents some of the advantages and disadvantages of international debut bonds, within a debt sustainability framework. It outlines key preconditions and discusses strategic considerations that countries need to take into account when contemplating bond issuance in international markets for the first time. In this context, the paper also discusses some typical pitfalls in accessing international capital markets, including excessive issue size relative to the intended use of bond proceeds, issuance of bullet bonds, and inadequate preparation for accessing the markets. | ||
| 588 | 0 | |a Print version record. | |
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 533 | |a Electronic reproduction. |b [Place of publication not identified] : |c HathiTrust Digital Library, |d 2011. |5 MiAaHDL | ||
| 538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
| 583 | 1 | |a digitized |c 2011 |h HathiTrust Digital Library |l committed to preserve |2 pda |5 MiAaHDL | |
| 505 | 0 | |a I. Introduction; II. Recent Trends in EM and LIC Sovereign Bond Issuance; Tables; 1. Selected Debut Issues by EM Countries; Figures; 1. Characteristics of Selected Debut EM and LIC Issues; Boxes; 1. Fund Policy on Non-Concessional External Debt Financing for Program and Post-Debt Relief Countries; 2. Trends in Concessional and Non-Concessional Financing in Sub-Saharan Countries; 3. Recent Debut Issues and Risk Appetite; III. International Issuance: Advantages and Risks; A. Advantages of International Issuance; B. Risks of International Issuance | |
| 505 | 8 | |a IV. Strategic Considerations for Sovereign Debut IssuersA. Debt-Sustainability Aspects of Issuance; 2. Credit Ratings and EMBI Global Spreads for Selected EM Countries; B. Practical and Operational Aspects of Issuance; 2. Considerations for a Successful Issuance of a Sovereign Debut International Bond; V. Pitfalls of First Time Sovereign Issuance; 4. Composite Credit Ratings of Debut Sovereign Issuers and Spreads at Issue; 5. Relative Cost of Recent Debut Issues; VI. Concluding Remarks; References | |
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Bonds |z Developing countries. | |
| 650 | 0 | |a Risk management |z Developing countries. | |
| 650 | 0 | |a Debts, Public |z Developing countries. | |
| 650 | 6 | |a Obligations (Valeurs) |z Pays en voie de développement. | |
| 650 | 6 | |a Gestion du risque |z Pays en voie de développement. | |
| 650 | 6 | |a Dettes publiques |z Pays en voie de développement. | |
| 650 | 7 | |a Bonds |2 fast | |
| 650 | 7 | |a Debts, Public |2 fast | |
| 650 | 7 | |a Risk management |2 fast | |
| 651 | 7 | |a Developing countries |2 fast | |
| 650 | 7 | |a Auslandsverschuldung. |2 stw | |
| 650 | 7 | |a Öffentliche Schulden. |2 stw | |
| 650 | 7 | |a Aufstrebende Märkte. |2 stw | |
| 650 | 7 | |a Low-Income Countries. |2 stw | |
| 700 | 1 | |a Papaioannou, Michael G., |e author. | |
| 700 | 1 | |a Polan, Magdalena, |e author. | |
| 710 | 2 | |a International Monetary Fund. |b Monetary and Capital Markets Department. | |
| 758 | |i has work: |a Strategic considerations for first-time sovereign bond issuers (Text) |1 https://id.oclc.org/worldcat/entity/E39PCH9kr6YRGRkYfTbH6FG3pP |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Das, Udaibir S. |t Strategic considerations for first-time sovereign bond issuers. |d Washington, D.C. : International Monetary Fund, ©2008 |w (OCoLC)317053020 |
| 830 | 0 | |a IMF working paper ; |v WP/08/261. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1608091 |z Texto completo |
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