Domestic Syndications : Background Note

This background note is intended to assist debt management offices (DMOs) in assessing whether a bond placement scheme combining auctions and syndications is an appropriate strategy in their markets and, if so, to assist them in designing the corresponding procedures.

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Bibliographic Details
Main Author: World Bank Group
Format: Working Paper biblioteca
Language:English
en_US
Published: World Bank, Washington, DC 2015-05
Subjects:CAPITAL GAIN, AUCTION, BOND INDICES, AUCTION SYSTEM, CAPITAL MARKETS, HOLDING, BORROWER, BASIS POINTS, PROFIT OPPORTUNITY, LIABILITY, DERIVATIVES MARKETS, CHECKS, MARKET DISTORTIONS, PUBLIC DEBT MANAGERS, BOND PRICE, SECONDARY MARKET PRICES, FOREIGN INVESTORS, MARKET DEVELOPMENTS, FUND MANAGERS, REPO, INTEREST, INSTITUTIONAL INVESTORS, INTERNATIONAL SECURITY, GUARANTEES, EXCHANGE, HEDGE FUNDS, TREASURIES, ISSUANCES, SETTLEMENT PROCEDURE, LIQUIDITY, DEBT MANAGEMENT, INVESTOR DEMAND, DOMESTIC MARKET, TYPE OF INVESTOR, SETTLEMENT PROCEDURES, PORTFOLIO, BENCHMARK MATURITIES, FOREIGN EXCHANGE RISK, BONDS, BENCHMARK BOND, BORROWERS, LIQUIDITY PREMIUM, DEBT ISSUANCE, GOVERNMENT BOND, RESERVE, LEVEL PLAYING FIELD, INVESTOR BASE, CENTRAL BANKS, MATURE MARKETS, INFLATION, INTERNATIONAL BANK, PENSION, INSTRUMENTS, DEBT INTEREST, CREDIBILITY, PRICE DISCOVERY, MARKET PARTICIPANTS, CENTRAL BANK, FLOATING-RATE NOTE, MATURITY, DEBT ISSUES, MARKET LIQUIDITY, DERIVATIVES, BOND INVESTORS, PUBLIC DEBT MANAGER, CURRENCY, BOND ISSUES, MARKET DEVELOPMENT, SECURITIES MARKET, MARKET-MAKING, PRIMARY MARKET, MARKET PRACTICE, BUYBACK, MARKET MAKERS, BOND ISSUANCE, TRADING, PRIMARY DEALERS, REPO MARKETS, INTERNATIONAL BOND, EMERGING MARKET, MARKET MECHANISM, FINANCIAL INSTITUTIONS, MARKETS, DEBT, MARKET MAKER, BOND ISSUE, SETTLEMENT, PUBLIC DEBT MANAGEMENT, SECONDARY MARKET LIQUIDITY, RESERVES, TYPE OF INVESTORS, PENSION FUNDS, GOVERNMENT SECURITIES MARKETS, BENCHMARK BONDS, BANK FINANCING, FINANCE, FOREIGN CURRENCY, GOVERNMENT SECURITIES MARKET, COMPETITIVE AUCTIONS, GOVERNMENT SECURITIES, TRANSACTIONS, AUCTIONS, EMERGING MARKETS, TRANSACTION, SECURITIES MARKETS, INVESTORS, BOND MARKETS, GOOD, GLOBAL BOND, UNIFORM PRICE, INVESTOR INTEREST, DOMESTIC MARKETS, TRANSPARENCY, BOND AUCTION, GOVERNMENT BOND MARKETS, TRANCHE, PRIVATE PLACEMENT, MARKET CONDITIONS, MARKET PRICES, FUTURE, SECONDARY MARKETS, LOCAL MARKET, FOREIGN INVESTMENT, EXCHANGES, UNIFORM PRICE AUCTION, FINANCIAL INSTRUMENTS, FINANCIAL INSTRUMENT, PRICE STABILITY, COUNTRY CREDIT, ISSUANCE, BIDS, PRICE FORMATION, MARKET, LOCAL CURRENCY, CREDIT RATING, FOREIGN EXCHANGE, MARKET RISK, LIQUID SECONDARY MARKET, DOMESTIC SECURITIES, SECURITIES, PUBLIC DEBT, TREASURY, HOLDINGS, INSURANCE, GOVERNMENT DEBT, DEBT MARKET, INVESTOR, BUYBACKS, MARKET SHARE, SECURITY, PRIMARY DEALER, FINANCIAL MARKET, LIQUID MARKET, INVESTMENT, PRIMARY DEALER SYSTEMS, BOND, SHARE, BALANCE SHEETS, INDEXED BOND, COUPON, BID, BONDHOLDERS, DEBT MARKET DEVELOPMENT, EXTERNAL DEBT, PROFIT, OUTSTANDING AMOUNT, LENDING, CHECK, GLOBAL FINANCE, MARKET PRACTICES, MATURITIES, LONG-TERM INVESTORS, INSURANCE COMPANIES, INSTRUMENT, LIABILITY MANAGEMENT, ARBITRAGE, SECONDARY MARKET, GOVERNMENT ACCOUNTS, HEDGE, INTERNATIONAL INVESTORS, INTERNATIONAL BANKS, GUARANTEE, OLD BOND, SWAP, PORTFOLIO MANAGEMENT, ASSET MANAGERS, INVESTMENT RISK,
Online Access:http://documents.worldbank.org/curated/en/2016/03/26122356/domestic-syndications-background-note
http://hdl.handle.net/10986/24087
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