Who are Agency Borrowers?
Tim Skeet
35 years: Debt capital markets
There is a large array of agency borrowers, many of which are active borrowers in the capital markets. In this short video, Tim discusses these agency borrowers and provides some examples.
There is a large array of agency borrowers, many of which are active borrowers in the capital markets. In this short video, Tim discusses these agency borrowers and provides some examples.
Who are Agency Borrowers?
1 min 5 secs
These are typically agencies of central governments that issue debt in capital markets and answer to central government departments. They have their own operating budgets and funding profiles.
Key learning objectives:
Identify who agency borrowers are
Define State-owned enterprises and give some examples
Explain the pricing determinants
What is SOE, and what are some examples?
State-owned enterprises are corporatised state entities that are run as corporations, but have state ownership or benefit from the state.
For example, France’s SNCF and Transport for London.
How are the prices for public borrowers determined?
- Rating
- Ownership
- Nature of public support
- Size of borrowing programme
- Issuing frequency of the borrower
Tim Skeet
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