World Bank offers guide for new sovereign issuers

摘要

The World Bank has published a primer for low income developing countries on how to tap the international bond markets. The guide is targeted at sovereign debt managers in countries that are either first time or infrequent issuers and goes into the nuts and bolts of how to manage the process. The authors, Patrick van der Wansem, Lars Jessen and Diego Rivetti, pick up on the particular problem of managing investors' perceptions of the credit after the initial issuance, highlighting the risks surrounding refinancing maturing bonds.