02064cas a2200265 a 4500 AALejournalIMF014573 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498390699 1018-5941 BD-DhAAL BD-DhAAL Guscina, Anastasia. First-Time International Bond Issuance-New Opportunities and Emerging Risks / Anastasia Guscina, Guilherme Pedras, Gabriel Presciuttini. Washington, D.C. : International Monetary Fund, 2014. 1 online resource (40 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 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. Mode of access: Internet Pedras, Guilherme. Presciuttini, Gabriel. IMF Working Papers; Working Paper ; No. 2014/127 Full text available on IMF http://elibrary.imf.org/view/journals/001/2014/127/001.2014.issue-127-en.xml IMF e-Library