). • Eurobonds provide the flexibility to the issuer to choose country. Issuing Bonds - 2013
Eurobonds • Egypt’s Eurobonds - $4b • Underwriters - J.P. Morgan, Morgan Stanley, Citibank, HSBC and First Abu Dhabi Bank • Successful Issue – Due to recent economic reforms (drop in debt/GDP ratio, subsidies) 9l-bond-markets-with-4B-Eurobond-issue
Eurobond Market • Widely used by multinational companies and new corporations establishing in emerging markets to get finance.
Bond Issue – 5 Minutes •Why do companies use foreign bonds and euro bonds issue?•Why do investors invest in these bonds?
Eurobonds • Features: – Convertibility clause – Include call provision ( Callable bonds – issued by Walt Disney in Canada ) Companies - convertible debt
Group Work – 10 Minutes • Practice Questions 1- 3
International Stock Market • A stock is issued to get long term finance. • Investors may/may not get dividend.
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- Fall '19