Foreign bond

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A long-term security issued by a borrower in the capital market of a country other than the borrower's.

Usually underwritten by a syndicate from one country and sold in that country's capital market, the bond is normally denominated in the currency of the country in which it is sold.

Examples include Bulldog bonds, Panda bonds and Yankee bonds.


The term is also sometimes used (incorrectly) to refer to a global bond or to an international bond.

See also