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Dual Currency (DC) Bond

From the Collaborative Bond and Money Market Data Portal

A DC or Dual Currency Bond is a negotiable debt instrument that exposes the investor - in exchange for a higher return - to a specific Foreign Exchange risk.

 

A Dual Currency bond pays coupons in a different currency than the repayment of principal.  Coupon is paid in the investors’ currency while principal is paid in a different currency.

 

In the Collaborative Bond and Money Market Data Model a DC bond appears with the attribute "FX – Dual Currency" in the field Category or Structure. It is part of the Category Group “FX-Linked”.

Category or Structure is a classification that is given to a Debt Instrument by a market participant. This therefore is not a legal term and so is distinct from what may be found in a Termsheet or Pricing Supplement. It is a clarification that is useful in distinguishing different types of Debt Instruments in various market segments.

 

Based on available data, in 2018, well over USD1bn equivalent of Dual Currency Bonds was issued.  

 

For information on FX - Dual Currency Bonds trades, please use CMDportal's Instrument Search tool.
For information on the size of the FX – Dual Currency Bond Market, please use CMDportal's Data Sheet tool. 
For information on the composition of the FX – Dual Currency Bond Market, please CMDportal's Issuer Search tool. 
For information on active dealers in the FX – Dual Currency Bond Market, please use CMDportal's Dealer Search tool. 

  

 



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