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...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Das, Udaibir S. (Autor), Papaioannou, Michael G. (Autor), Polan, Magdalena (Autor)
Autor Corporativo: International Monetary Fund. Monetary and Capital Markets Department
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : International Monetary Fund, ©2008.
Colección:IMF working paper ; WP/08/261.
Temas:
Bonds > Developing countries.
Risk management > Developing countries.
Debts, Public > Developing countries.
Obligations (Valeurs) > Pays en voie de développement.
Gestion du risque > Pays en voie de développement.
Dettes publiques > Pays en voie de développement.
Bonds
Debts, Public
Risk management
Auslandsverschuldung.
Öffentliche Schulden.
Aufstrebende Märkte.
Low-Income Countries.
Developing countries
Acceso en línea:Texto completo
Tabla de Contenidos:
  • 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
  • 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

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