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Erste Group senior bonds

What are foreign currency bonds?

Foreign currency bonds are denominated in a currency other than Euro and offer fixed or variable coupons. The maturity of these bonds vary from medium to long-term. Coupons are usually paid out once a year.

Euro investor bear the currency risk, since the bonds are traded in foreign currency and interest payments as well as the redemption take place in the foreign currency.

How do foreign currency bonds work?

A foreign currency bond offers a regular coupon payment in foreign currency. The coupon can be fix or variable depending on the product type. At maturity the bond will be redeemed at 100% of the nominal value, bearing in mind the default risk of the issuer.

If investors hold a foreign currency account in the respective currency, the coupon payments throughout the term of the bond and the redemption at the end of maturity can be credited in foreign currency. Otherwise, the coupons and the redemption are converted into Euro at the current exchange rate.


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