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Essay / Research Paper Abstract
This 31 page paper answers questions asked by the student concerning international bond issues. The paper looks at issues such as the impacts on bond issues, underwriting of issues, the requirements for SEC registration under the 1933 Securities Act in the US and how these may be avoided. How convertible shares may be adapted to reduce fears of some investors, a range of contractual issues such as default, notice of acceleration the value use and impact of a negative pledge clause, the role and advantages of a bond trustee, the reasons why English law is the preferred law and the role and purpose of GDR’s. The bibliography cites 5 sources.
Page Count:
31 pages (~225 words per page)
File: TS14_TEbondint.rtf
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Unformatted sample text from the term paper:
will impact on the currency market, such as more upsets in the middle east or events such as SARs. However they want the sale of the bonds to go ahead
regardless of other world events. In any market where there is the potential for changes in market conditions there is always a risk when it comes to the launch
if a new bond. The amount that is sold and the discount rate that is attached will depend on a range of factors including general market conditions as well as
the reputation and the risk and reward profile of the issuer. One way of reducing the risk of an issue is for the issue to be underwritten.
Underwriting the offer will usually be taken by a bank or finance house. This will be in the form of the underwriting backing the sale
and undertaking to buy whatever remains of the issues at a lower price should the need arise. Often this does not occur, and the underwritten price will usually be at
a minimum amount. However, it is a safeguard. These underwriters will then seek to realise the funds by selling the securities on the secondary markets. If the issue
is a large issue it is likely that any underwriter will look to spread the risk with the use of further underwriting of their own risk. Therefore we can argue
that with the use of a sub-underwriter there may be the potential of a greater coverage of any failure of the issue. However, there is also increased risk in
terms if t price that will be gained for the issue. If there is the need to look to use a sub-underwriter. As the risk increases the underwriters will want
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