02066cas a2200265 a 4500 AALejournalIMF005465 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451871197 1018-5941 BD-DhAAL BD-DhAAL Polan, Magdalena. Strategic Considerations for First-Time Sovereign Bond Issuers / Magdalena Polan, Udaibir Das, Michael Papaioannou. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (27 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The recent round of debt relief has restored debt sustainability in many low-income countries (LICs). This, along with a continued search for yield and desire for portfolio diversification by investors, has increased the range of viable financing options, including international bonds, for many emerging market (EM) economies and LICs. This paper presents some of the advantages and disadvantages of international debut bonds, within a debt sustainability framework. It outlines key preconditions and discusses strategic considerations that countries need to take into account when contemplating bond issuance in international markets for the first time. In this context, the paper also discusses some typical pitfalls in accessing international capital markets, including excessive issue size relative to the intended use of bond proceeds, issuance of bullet bonds, and inadequate preparation for accessing the markets. Mode of access: Internet Das, Udaibir. Papaioannou, Michael. IMF Working Papers; Working Paper ; No. 2008/261 Full text available on IMF http://elibrary.imf.org/view/journals/001/2008/261/001.2008.issue-261-en.xml IMF e-Library