The international bond market (Debt securities)(3)

the two types of markets-the foreign bond markets and the euro bond markets-together constitute the aggregate international bond market .in actual practice,the distinction between foreign bonds and euro bonds is somewhat blurred (for example,because one bank may underwrite an offering by itself and use neither a domestic syndicate nor a multinational syndicate ).In either the foreign bond or the euro bond markets ,the issued securities themselves can play a fixed interest rate or a variable(floating)interest rate (usually tied to LIBOR ).in addition ,some bonds are sold at a substantial discount below face value and issued as "zero-coupon"bonds .in this instance ,there are no regular interest payments ,and the total interest is received when the bond matures at its face value.