1. Bonds 2. Syndicated credits 3. Medium term notes 4. Committed underwritten facilities(NIF) 5. Project Finance 6. Money market Instruments

 A bond is a debt security arranged by the borrower,purchased by the investor,usually thru the intermediation of a group of underwriters.  In general, a country has two bond markets: An Internal Market and an External Bond Market  4 types of external bonds 1.Foreign Bonds - Bonds by issuers who do not reside in the country where they are issued and traded

2.Eurobonds – Bonds issued in a different currency denomination than that of the country in which the bond is issued Eg:A eurodollar bond that is denominated in U.S. dollars and issued in Japan by an Australian company would be an example of a eurobond  All Eurobonds have four features:  Underwritten by an international syndicate  When issued, offered simultaneously to investors in a number of countries  Issued outside the jurisdiction of any single country  They are in unregistered form.

3.Global Bonds - A bond that is issued and traded in the foreign bond market of one or more countries as well as in the Eurobond market 4.Sovereign Bonds—Bonds issued by a country's central government

 Callable bond  Puttable bond  Sinking fund bond  Assumed Bonds  Zero coupon bonds  Convertible bonds

 Bearer bond - Most Eurobonds are unregistered, issuing firm or underwriter does not keep records of ownership. Possession is evidence of ownership, like cash.  Registered bond - Ownership is recorded by either name or serial number. U.S. law requires U.S. bonds to be registered, both domestic bonds and foreign bonds issued in U.S. Upon any sale in secondary market, a new bond certificate is issued.

 Bulldog bond->sterling denominated bond that is issued in London by a company that is not British.  Yankee bond->  A bond denominated in U.S. dollars that is publicly issued in the U.S. by foreign banks and corporations  Foreign issuers tend to prefer issuing Yankee bonds when U.S. interest rates are low, because this means lower interest payments for the foreign issuer to pay out.

 Samurai bonds  A yen-denominated bond issued in Tokyo by a non-Japanese company and subject to Japanese regulations. Other types of  Shogun bonds-A non japan company issued its bonds in japan in adifferent currecy rather than yen  Euroyen- yen-denominated bonds issued in countries other than Japan.  Sushi bonds-Ajapan based company issued its bond in other country in a different currency

 Australia->Kangaroo bonds(maltilta bonds)- Bonds issued by non australian company in australian $  Spain->Metador bonds-Bonds issued by a non spanish copany in pesetas  Asia->in terms of US dollar->Dragon bonds  Canada->Maple bond-in canadian $  Supernational bond:  These bonds are issued when two or more central governments issue foreign bonds to promote economic development for the member countries

 A very large loan made to one borrower by a group of banks headed by one Lead Manager, which usually takes only a small percentage of the loan itself, syndicating the rest to other banks and financial institutions.  Club Loan facility  Revolving loan facility  LOC(Letter of credit)

 It is a medium term,non underwritten,fixed interest rate source of funding  originated in US & was introducedto Euro market during 80s  Here the borrowers were approaching the investors directly rather than go by bank loan  Maturity period is 9months to 30 years  Documentation for a borrowing can be designed only once& the borrower can issue notes at several times continuously & its unique feature is flexibilty.  This market is accessible to the investors with good credit rating

 A NIF is a medium term legally binding commitment under which a borrower can issue short term paper in its own name,but where underwriting banks are commited either to purchase any notes which the borrower is unable to sell,or to provide standing credit  MOF(Multi option Facility ) will be available for investors to choose different ways to draw funds including NIF.  Note issuance facilities are useful in reducing risk and costs for both the borrower and the lender.

 Developed to finance large projects such as power projects,road construction,port & labour developmentetc  Eg->Most famous project is Euro Disney park in Paris  Another innovative idea is the BOT(Build,Qwn,Transfer)Sometimes it is called as BOOT(Build,own,Operate& Transfer)