International bonds (internationalbonds) International bonds are issued in foreign financial markets by a country's government, financial institutions, industrial and commercial enterprises or national organizations in order to raise and circulate funds, in foreign currencies. Face value bonds. An important feature of international bonds is that the issuers and investors belong to different countries, and the funds raised come from foreign financial markets. The issuance and trading of international bonds can be used not only to balance the international balance of payments of the issuing country, but also to introduce funds for the issuing country's government or enterprises to engage in development and production. Depending on the currency used to issue the bond and the place of issuance, international bonds can be divided into foreign bonds and European bonds.
The issuance procedures of international bonds are mainly 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.
