FOREIGN/SOVEREIGN DEBT

The international debt market is comprised of bonds that are issued by foreign countries, foreign agencies, and foreign companies. These bonds can be issued in either US Dollars or in any foreign currency that the issuer chooses. Many of the bonds that are issued in US Dollars are global issues, which make them DTC eligible. However, the Non Dollar issues settle in EuroClear, although the mechanics of these instruments is very similar to that of regular debt. Non Dollar bonds also have inherent foreign exchange risk, as well as the usual matrix of risks that are associated with regular bonds. There are numerous factors that can affect a currency, ranging from macro-economic variables and geo-political ones to monetary and fiscal policy implications.

Additional information can be found on:
The JVB Quick Reference Guide International Debt FAQs

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