If one were to be asked whether Dim Sum, Matador, Samurai,
Kangaroo, Maple and Bull Dog share anything in common, one would be
hard-pressed for an appropriate reply. To answer the question
posed, the above are all international bonds. International bonds
are debt investment instruments issued in a country by a
non-domestic entity, in the currency of that non-domestic country.
These bonds have been colourfully named, as demonstrated, to evoke
an association with their home country. "Dim-Sum" bonds
are the Chinese variant, the Japanese version are the lofty
"Samurai" bonds, and one can probably guess which
countries Matador, Maple and Kangaroo belong to.
In the Indian context, the Reserve Bank of India
("RBI") permits the issue of Rupee
Denominated Bonds ("RDBs"). RDBs are
debt instruments which are denominated in Indian rupee but settled
in foreign currency and are issued to overseas investors by Indian
entities. Similar to other international bonds, RDBs
