Debt capital markets refers to the market for debt issued by sovereign governments, government and supranational agencies, financial institutions and companies in the form of tradable securities, or bonds. Bonds are typically sold to a wide variety of investors and have an active trading, or secondary market. Bonds vary in the terms they offer but also in the riskiness of the issuers.
Key learning objectives:
Who are the principal users of the bond market, and how is the market segmented by type and category of investor?
What features do investors look for in bonds?
What are the steps involved in issuing a bond and which parties are involved
What rules exist around information disclosure and why?