Page 27 - Demo

%u062c%u0645%u064a%u0639 %u0627%u0644%u062d%u0642%u0648%u0642 %u0645%u062d%u0641%u0648%u0638%u0629 %u0640 %u0627%u0625%u0644%u0639%u062a%u062f%u0627%u0621 %u0639%u0649%u0644 %u062d%u0642 %u0627%u0645%u0644%u0624%u0644%u0641 27 %u0628%u0627%u0644%u0646%u0633%u062e %u0623%u0648 %u0627%u0644%u0637%u0628%u0627%u0639%u0629 %u064a%u0639%u0631%u0636 %u0641%u0627%u0639%u0644%u0647 %u0644%u0644%u0645%u0633%u0627%u0626%u0644%u0629 %u0627%u0644%u0642%u0627%u0646%u0648%u0646%u064a%u0629What are the international bearer bonds and registered bonds?%uf0b7 International bearer bonds:are bonds without a registered owner. They are risky bonds as they present the same risk of loss as currency. Eurobonds are usually bearer bonds.%uf0b7 International registered bonds:the owner%u2019s name is registered with the issuer.Security laws in many countries require the international bonds to be registered.What are the types of securities traded in the international bond market?81- Straight Fixed Rate Debt:Most of the international bond offerings are straight fixed-rate issues. In these %u201cplain vanilla%u201d bonds, the coupon rate and maturity are specified with no options attached. Most of the international bonds fall under this type of bond, such as the Eurobonds. The Eurobond is a bond that is issued in a currency different from the currency of the issuing country. Since most Eurobonds are bearer bonds, coupon dates tend to be annual rather than semi-annual.2- Floating-Rate Notes:Floating-rate notes are bonds with coupon payments indexed to some reference rate like LIBOR. Common reference rates are either three-month or six-month U.S. dollar LIBOR. Coupon payments on these bonds are usually quarterly or semiannual and according to the reference rate.3- Equity-Related Bonds:There are two types of equity-related bonds.- Convertible bonds: A convertible bond allows the investor to exchange the bond for a limited number of equity shares. The convertible bond is a straight fixed-rate bond. Convertibles usually sell at a premium.- Bonds with equity warrants:A straight fixed-rate bond with the addition of a warrant feature. This warrant entitles the bondholder to purchase a certain number of equity shares in the firm of the issuer at a specified price.8 --Eun, C. S., & Resnick, B. G. (2012). International financial, edition Six, McGraw Hill.