TY - BOOK ID - 84655848 TI - First-Time International Bond Issuance—New Opportunities and Emerging Risks AU - Guscina, Anastasia. AU - Pedras, Guilherme. AU - Presciuttini, Gabriel. PY - 2014 SN - 1498366988 1498310680 1484392698 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Bonds KW - International economic relations. KW - Economic policy, Foreign KW - Economic relations, Foreign KW - Economics, International KW - Foreign economic policy KW - Foreign economic relations KW - Interdependence of nations KW - International economic policy KW - International economics KW - New international economic order KW - Economic policy KW - International relations KW - Economic sanctions KW - Bond issues KW - Debentures KW - Negotiable instruments KW - Securities KW - Debts, Public KW - Stocks KW - Exports and Imports KW - Finance: General KW - Investments: Bonds KW - Money and Monetary Policy KW - Interest Rates: Determination, Term Structure, and Effects KW - International Financial Markets KW - Financing Policy KW - Financial Risk and Risk Management KW - Capital and Ownership Structure KW - Value of Firms KW - Goodwill KW - International Lending and Debt Problems KW - General Financial Markets: General (includes Measurement and Data) KW - Monetary Systems KW - Standards KW - Regimes KW - Government and the Monetary System KW - Payment Systems KW - Investment & securities KW - Finance KW - Monetary economics KW - International bonds KW - Emerging and frontier financial markets KW - Currencies KW - Debt sustainability KW - Financial institutions KW - Financial markets KW - Money KW - External debt KW - Financial services industry KW - Debts, External KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:84655848 AB - International bond issuance by debut issuers has risen in recent years. The uptick was a result of both demand and supply factors. The search for yield and demand for portfolio diversification have resulted in demand-driven easy financing conditions. At the same time, rising financing needs for many debut issuers, coupled with reduced access to concessional financing, relatively undeveloped domestic markets, and a favorable interest rate environment have made international bonds an attractive financing alternative for many countries. As bonds issued in the international markets are typically denominated in hard currencies, have large volumes and a bullet structure, exposure to exchange rate and refinancing risk has increased. Therefore, risk-mitigating policy actions are needed to prepare for redemption, support debt sustainability, and secure adequate debt management capacity. ER -