Eurobonds II

In this chapter we consider briefly some of the issues of Eurobond issuance and trading. First though we review the legal aspects of the Eurobond market. This is an area that is always under the scrutiny and review of national governments, so the facts behind legal and taxation issues do not remain static. However there are some general issues that we can present here. The last part of the chapter reviews the impact and influence of swap transactions in the market.

19.1 Legal and tax issues

Investor and borrowers in the Eurobond market may at any one time fall under the auspicies of a number of countries laws and regulations. These relate to the withholding tax on the bond coupons, income tax, disclosure and prospectus requirements ...

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