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Detail
ArtikelMoney Will Find a Way; International Finance  
Oleh: [s.n]
Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 8843 no. 407 (Jul. 2013), page 16.
Topik: History; Eurobonds
Ketersediaan
  • Perpustakaan Pusat (Semanggi)
    • Nomor Panggil: EE19
    • Non-tandon: 1 (dapat dipinjam: 0)
    • Tandon: tidak ada
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Isi artikel Fifty years ago this week Autostrade, an Italian motorway operator, issued a $15m bond. The first Eurobond was less a piece of clever financial engineering than an elaborate tax dodge. The idea dreamed up by London bankers was to capture some of the dollars that were sloshing around Europe (hence the name Eurodollars) because of America's Regulation Q, which limited the interest rates paid on deposit accounts. Autostrade was chosen as the first issuer because it had the right to pay interest (in the form of coupons) without deducting Italian tax. The bond was issued in Schiphol airport in Amsterdam to avoid British stamp duty. The coupons were payable in Luxembourg to avoid British income tax.
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