The main issuance procedures of international bonds are as follows:
(1) The issuer determines the lead manager. After receiving the authorization letter from the issuer, the lead manager begins work.
(2) The leader helps the issuer express its intention to issue bonds in the country where it is issued and seek permission from the government of that country.
(3) The issuer and the leader agree on the basic conditions and draft terms for issuance of bonds.
(4) The issuer and the manager sign a subscription agreement.
(5) The manager signs an underwriting agreement with the underwriter, or signs a promotion agreement with the promoter.
(6) The issuer submits the prospectus, introduces and promotes the bonds to investors through the underwriter.
(7) Bonds are issued to investors, that is, the underwriter sells the bonds to investors.
