the international Bond market (Debt securities)(2)

In addition,the issuance of bonds often involves bond underwriters,which are banks and other financial institutions that conduct the sale of the bonds (for a fee) for the issuing entity,these underwriters purchase the bonds from the firms or government ,and the underwriters thus assume the risk that the bonds might not be sold.further,in international bond market ,banks often join together to from a loan syndicate for marketing the bond.in considering the international bond market,a distinction is made between two situations :
1- The borrower in one country issues bonds in the market of another country (the host country)through a syndicate in the host country. the sale is mainly to residents of the host country ,and the bonds are denominated in the currency of the host country .these transaction are said to be taking place in the foreign bond markets.
2- the borrower in one country issue bonds in the market of many countries ,with the help of a multinational loan syndicate ,to residents of many countries .the bonds can be denominated in any of several different currencies (including the currency of the country of the issuer but also other currencies that are not necessarily of the countries in which the bonds are sold ). these transaction are said to be taking place in the euro-bond markets.