双重货币债券（Dual Currency Bond ）

双重货币债券 Dual Currency Bond

摘自路透金融词典

以一种货币付利息，另一种货币偿还本金的债券，前者货币通常是债券投资人所在国家的货币，后者则通常是美元或发行人所在国家的货币。 投资人通常可获得较市场水平为高的票面利率，但也可能要承受一定的外汇风险。例如，美国的机构可以在日本发行这种债券，投资人以日元买进，以日元收息，但到期时以美元(按约定的汇率计算)收回本金。  

A bond that pays a coupon in one currency, but is redeemed for a fixed amount of another currency, often the dollar. Investors usually get an above-market coupon, but run the risk that, in this example, the dollar would fall below the exchange rate implied when the amount was fixed. These bonds are attractive to borrowers who operate in the redemption currency because they have no long-term exchange rate risk. For other borrowers, the guaranteed exchange rate can be used in a swap, for example, with corporations having liabilities in the currency of issue.

取自http://glossary.reuters.com.cn/wiki/index.php/%E5%8F%8C%E9%87%8D%E8%B4%A7%E5%B8%81%E5%80%BA%E5%88%B8

Category: 债券