Fixed Income reading 42: fixed income securities: defining elements

) Classification of bonds based on where they are issued & traded (Los

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1. Fixed Income - Slide
Đề bài Thiết kế dây truyền sợi pha Cotton Pes 67 33 N44 làm sợi dọc dệt vải sản lượng 15000 tấn năm

Panda bonds :  issued by foreign firms  trade in China  denominated in CNY Yankee bonds
EuroBonds
Eurodollar bonds

3) Classification of bonds based on where they are issued & traded (Los
42.d)
Domestic bonds
Foreign bonds
Bonds issued by a firm
domiciled in a country and also
traded in that country's currency
(Trái phiếu được phát hành bởi
1 cty trong nước, giao dịch
trong nước, bằng đồng tiền
trong nước)
Bonds issued by a firm incorporated in a foreign country that trade on
the national bond market of another country in that country's currency
(Trái phiếu được phát hành bởi 1 cty nước ngoài, giao dịch trong
nước, bằng đồng tiền trong nước)
Panda bonds:
 issued by foreign firms
 trade in China
 denominated in CNY
Yankee bonds:
 issued by foreign firms
 trade in the United States
 denominated in USD
International bonds
An international bond is issued in a country and currency that is not domestic to the investor
Eurobonds
Global bonds
Issued & traded:
 in currency A
 in many countries over the world (EXCEPT
for country A)
Note: currency A is often not the currency of
the issuer
(đã phát hành bằng đồng tiền A; thì sẽ ko phát
hành và giao dịch tại nước A nữa)
Issued & traded:
 in currency A
 in many countries over the world (may
including country A)
Note: currency A is often not the currency of
the issuer
(đã phát hành bằng đồng tiền A; thì có thể phát
hành và giao dịch tại nước A)

Mai Nguyen
Dawn of Finance
3
Eg: a VN company issues bonds denominated
in USD. These bonds are issued & traded in
many countries, EXCEPT for the US
Eg: a VN company issues bonds denominated
in USD. These bonds are issued & traded in
many countries, which may include the US

EuroBonds:
 are subject to less regulation than domestic bonds in most jurisdictions
 were initially introduced to avoid U.S. regulations.
 were first introduced in Europe, and most are still traded by firms in European capitals.
 are referred to by the currency they are denominated in.
o Eurodollar bonds are denominated in U.S. dollars,
o Euroyen bonds are denominated in yen.
 The majority of Eurobonds are issued in bearer form (ko ghi tên người thụ hưởng).
o Ownership of bearer bonds is evidenced simply by possessing the bonds >< ownership of

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