Clearstream International Securities – Eurobonds Product information Best in class infrastructure for international securities Key benefits Eurobonds have become an essential component of the Reliable infrastructure issuers financing toolkit for both the global, established – Leading ICSD with pivotal, highly corporates and for emerging market participants looking regulated notary and securities for efficient access to liquidity. Over the past decades, settlement system function the Eurobonds market has grown by volume and complexity – – AA rated and proven track record to operate in market from a straightforward European-centric bond market stress situations to a large and diversified, multi-currency and multi-instrument international securities market. For issuers Efficiency gains – Single gateway for efficient issuance in multiple asset types, currencies and jurisdictions – Operational expertise to support launch of new funding structures Global distribution – Direct access to a wide range of global intermediaries and investors connected to the ICSDs – Coverage of remote domestic investor pools via CSD linkages Low funding costs and high liquidity – Direct access to global sell and buy side communities – Cash and liquidity services to ease issuance & secondary market activity For investors Eurobonds is the generic term Among the largest fixed income used to refer to international (debt) segments globally High liquidity securities issued through and The Eurobond market hosts over – Eurobonds are actively traded both deposited with the ICSDs and EUR 10 trillion in outstanding in primary and secondary markets represents one of the largest fixed issuances from thousands of financial and are eligible into Clearstream’s income segments globally. While and non-financial companies credit and (re)financing programmes domestic markets’ issuance models worldwide, and across numerous – Coverage of both OTC and trading reflect the needs of local market asset classes from short-term money venues flows participants as well as national market instruments to equities. legal and regulatory frameworks, In total, the Eurobond segment Asset safety and global reach the international debt capital counts more than 6,000 issuers – Risk mitigation by holding assets market structure addresses the located in 150 countries with directly with the ICSD needs of a wider range of investor volumes of new issuances exceeding – Single gateway for investing requirements across multiple the 200,000 threshold annually. in a wide range of asset classes, jurisdictions, governing laws and geographies and credit profiles issuance currencies. One-stop shop offering for both issuers and investors Clearstream provides a fully integrated functions, such as notary, central investor clients, Clearstream offers Eurobonds business model ranging maintenance and settlement, to value state-of-the art Eurobonds custody from (pre-)issuance services including added services, such as securities and settlement services supported securities numbering and core CSD financing and asset servicing. For its by a mix of connectivity solutions. Fully integrated Eurobonds product range Issuers & Arrangers & Clearstream Asset Managers Investors & Issuance Law Firms Investment Vehicles – Securities Vehicles Numbering & Lead Managers Admission Custodians & Syndicate – Issuance & Distribution Dealers (I)CSD links – Safekeeping & Reconciliation – Primary & Issuer Agents Secondary Market Makers Market & Brokers Settlement Listing Venues – Securities Collateral Financing Management – Asset Servicing Issuance Trading Venues Platfoms & CCPs Facilitating funding for issuers in more than 40 settlement currencies Settlement efficiency When identifying their optimal funding and support issuance in over Our Eurobonds services support strategy, issuers focus on key criteria 100 denomination currencies and clients in their primary and secondary such as costs, investor reach as well under multiple legal jurisdictions. market activities, both for OTC as the actual choice of instrument and Issuers benefit from direct access and trading venues’ flows – cleared currency of the issue. At Clearstream, to the global investor base connected and non-cleared – thanks to our issuers can benefit from the experience to Clearstream including CSD and connections to the main CCPs, of our operational experts to assist Bridge counterparties. stock exchanges and trading them validating the technical elements venues. Settlement is conducted of their future issuances. Meeting investor needs in commercial bank money, in a broad Clearstream holds strong, long-term range of currencies both internally and Our Eurobonds offering includes AA ratings and complies with global over the Bridge. The attractiveness securities numbering (ISIN, CFI & FISN and regulatory standards. As being of Eurobonds will further increase standards), notary and settlement at the top tier of the custody chain, when this security class becomes services. These allow efficient funding issuing and holding assets with eligible in T2S enabling settlement our ICSD further increases the level in central bank money. of asset safety. Asset servicing expertise With Eurobonds, investors benefit The flexible account structures Contact from investing into a large range offered by Clearstream help investors of geographies and credit profiles to meet their specific requirements For further information, please contact under a stable legal framework in terms of business segregation. your Relationship Manager as well as from synergies with other Our Eurobonds asset servicing or the Eurobond Business team: asset portfolios, across multiple solutions include global tax processing currencies (e.g. cash netting). services as well as sophisticated www.clearstream.com debt restructuring handling and the processing of bond holder meetings. 7246/05.19.