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国际债券是一国政府当局、金融机构、工商企业、地方社会团体以及国际金融组织等机构为筹措外汇资金在国际债券市场上发行的使用某种货币作为面值的有价证券。国际债券对发行者来说是一种重要的利用外资的手段,对购买者来说是一种稳妥的对外投资的方式。债券发行者是债务人,购买债券者是债权人,两者之间从本质上看属于一种借贷关系。国际债券作为一种投融资工具,具有三个显著特点。一是偿还性即筹资者必须根据规定按期向投资者支付利息和偿还本金。二是流动性即债券投资者可以通过转卖债券及时收回资金。三是安全性即投资于债券能相对减少市场价格波动造成的价值损失。
International bonds are the securities that are issued in the international bond market by a government agency, financial institutions, industrial and commercial enterprises, local social groups and international financial organizations in order to raise foreign exchange funds using a certain currency as their nominal value. International bonds are an important means of using foreign capital for issuers and are a sound means of outward investment for buyers. Bond issuers are debtors and bond purchasers are creditors, essentially a kind of loan relationship between the two. As an investment and financing tool, international bonds have three salient features. First, the repayment of the financier must pay interest and repay the principal on time according to the regulations to investors. Second, liquidity, that is, bond investors can sell back the bonds in time to recover the funds. Third, safety means that the investment in bonds can relatively reduce the value loss caused by market price fluctuations.