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FINANCIAL MARKET COURSES

Eurobonds – Issuing & Investing

The Eurobond market is a vital source of funds for many entities, including banks and other financial institutions, governments and supranational organizations and, increasingly, non-financial corporates. Many of these entities have turned to the international market when domestic conditions were not conducive to raising capital.

New Eurobond issues are originated in the primary market, where they are then bought and re-sold between investors in the secondary market. This is an over-the-counter (OTC) market that provides investors with an alternative to investing in domestic issues and the advantages that often come with that, such as increased yields and portfolio diversification.

 

This course looks at the primary and secondary markets for Eurobonds, the participants in these markets and the reasons why they are active in these markets.

  • OBJECTIVES

    On completion of this course, you will be able to:

    List the different types of Eurobond issuers and explain why they issue these securities

    Outline the process for issuing Eurobonds in the primary market

    List the different types of Eurobond investors, explain why they invest in these securities and describe the secondary market trading conventions for Eurobonds

  • COURSE OUTLINE

    Topic 1: Eurobond Issuers

    Why Issue Eurobonds?

    Who Issues Eurobonds?

    Banks/ Financial Institutions

    Non-Financial Corporates

    Supranational Organisations

    Sovereigns

    Topic 2: The Issuing Process

    The Primary Market

    Issuing Eurobonds

    Listing Eurobonds

    EU Prospectus Directive

    EU Prospectus Directive - Exemptions

    EU Prospectus Directive- Non EU-Issuers

    Topic 3: Investing in Eurobonds

    Who Invests in Eurobonds?

    Why Invest in Eurobonds?

    Risks of Investing in Eurobonds

    o Credit Risk

    o Foreign Exchange (FX) Risk

    o Liquidity Risk

    Secondary Market Trading Practices

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    75 Minutes

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