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Fourth Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contract

Fourth Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contract »

Source: Fourth Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contract

Volume: 19

Series: Policy Papers

Author(s): International Monetary Fund. Legal Dept.;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 March 2019

ISBN: 9781498302968

Keywords: Collective action clauses, Bond issues, Sovereign debt restructuring, Low income countries, Bond yields, Collective action clause, CACs, Sovereign debt, restructuring, Pari passu

This paper reports on progress in inclusion of enhanced collective action clauses and modified pari passu clauses as of end-October 2018. The report finds that enhanced CACs have now become the market standard, wi...

Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts »

Source: Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Volume/Issue: 2015/053

Series: Policy Papers

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 September 2015

ISBN: 9781498344210

Keywords: Public debt management, Sovereign debt restructuring, Bond issues, Low income countries, Risk premium, passu, bondholder, issuer, new York law, York law

As part of the Fund's ongoing work on sovereign debt restructuring, in October 2014 the Executive Board endorsed the inclusion of key features of enhanced pari passu provisions and collective action clauses (CACs)...

Second Progress Report On Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Second Progress Report On Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts »

Source: Second Progress Report On Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Volume/Issue: 2016/073

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2016

ISBN: 9781498344951

Keywords: Bond issues, Bonds, Collective action clauses, Debt restructuring, Sovereign debt, Public debt management, Sovereign debt restructuring, Low income countries, outstand stock, passu

endorsed in October 2014 the inclusion of key features of enhanced pari passu provisions and collective action clauses (CACs) in new international sovereign bonds. Specifically, the Executive Board endorsed the use...

Third Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Third Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts »

Source: Third Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Volume/Issue: 2017/067

Series: Policy Papers

Author(s): International Monetary Fund. Legal Dept.;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 December 2017

ISBN: 9781498346177

Keywords: Public debt management, Bond issues, Collective action clauses, Low income countries, Sovereign debt, passu, outstand stock, issuer, new York law, York law

The IMF Executive Board endorsed in October 2014 the inclusion of key features of enhanced pari passu provisions and collective action clauses (CACs) in new international sovereign bonds.1 Specifically, the Executi...

Strengthening the Contractual Framework to Address Collective Action Problems in Sovereign Debt Restructuring

Strengthening the Contractual Framework to Address Collective Action Problems in Sovereign Debt Restructuring »

Source: Strengthening the Contractual Framework to Address Collective Action Problems in Sovereign Debt Restructuring

Volume/Issue: 2014/013

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 February 2014

ISBN: 9781498342797

Keywords: Bonds, Collective action clauses, Debt restructuring, Sovereign debt, Public debt management, Bond issues, Sovereign debt restructuring, International capital markets, Interest rate reductions, passu

This paper identifies contractual reforms designed to address collective action problems in sovereign debt restructuring. Since any decisions regarding the design of contractual provisions will need to be made by t...

Fourth Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contract

Fourth Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contract »

Volume: 19

Series: Policy Papers

Author(s): International Monetary Fund. Legal Dept.;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 March 2019

DOI: http://dx.doi.org/10.5089/9781498302968.007

ISBN: 9781498302968

Keywords: Collective action clauses, Bond issues, Sovereign debt restructuring, Low income countries, Bond yields, Collective action clause, CACs, Sovereign debt, restructuring, Pari passu

This paper reports on progress in inclusion of enhanced collective action clauses and modified pari passu clauses as of end-October 2018. The report finds that enhanced CACs have now become the market standard, wi...

Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts »

Volume/Issue: 2015/053

Series: Policy Papers

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 September 2015

DOI: http://dx.doi.org/10.5089/9781498344210.007

ISBN: 9781498344210

Keywords: Public debt management, Sovereign debt restructuring, Bond issues, Low income countries, Risk premium, passu, bondholder, issuer, new York law, York law

As part of the Fund's ongoing work on sovereign debt restructuring, in October 2014 the Executive Board endorsed the inclusion of key features of enhanced pari passu provisions and collective action clauses (CACs)...

Second Progress Report On Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Second Progress Report On Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts »

Volume/Issue: 2016/073

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2016

DOI: http://dx.doi.org/10.5089/9781498344951.007

ISBN: 9781498344951

Keywords: Bond issues, Bonds, Collective action clauses, Debt restructuring, Sovereign debt, Public debt management, Sovereign debt restructuring, Low income countries, outstand stock, passu

endorsed in October 2014 the inclusion of key features of enhanced pari passu provisions and collective action clauses (CACs) in new international sovereign bonds. Specifically, the Executive Board endorsed the use...

Third Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts

Third Progress Report on Inclusion of Enhanced Contractual Provisions in International Sovereign Bond Contracts »

Volume/Issue: 2017/067

Series: Policy Papers

Author(s): International Monetary Fund. Legal Dept.;International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 December 2017

DOI: http://dx.doi.org/10.5089/9781498346177.007

ISBN: 9781498346177

Keywords: Public debt management, Bond issues, Collective action clauses, Low income countries, Sovereign debt, passu, outstand stock, issuer, new York law, York law

The IMF Executive Board endorsed in October 2014 the inclusion of key features of enhanced pari passu provisions and collective action clauses (CACs) in new international sovereign bonds.1 Specifically, the Executi...

Strengthening the Contractual Framework to Address Collective Action Problems in Sovereign Debt Restructuring

Strengthening the Contractual Framework to Address Collective Action Problems in Sovereign Debt Restructuring »

Volume/Issue: 2014/013

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 February 2014

DOI: http://dx.doi.org/10.5089/9781498342797.007

ISBN: 9781498342797

Keywords: Bonds, Collective action clauses, Debt restructuring, Sovereign debt, Public debt management, Bond issues, Sovereign debt restructuring, International capital markets, Interest rate reductions, passu

This paper identifies contractual reforms designed to address collective action problems in sovereign debt restructuring. Since any decisions regarding the design of contractual provisions will need to be made by t...