Form of debt securities—global securities

Published by a ³ÉÈËÓ°Òô Banking & Finance expert
Practice notes

Form of debt securities—global securities

Published by a ³ÉÈËÓ°Òô Banking & Finance expert

Practice notes
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debt securities, such as bonds, medium-term notes and commercial paper, are financial instruments which acknowledge a debt. For more information, see Practice Notes: Key features of the debt capital markets and Types of debt securities.

This Practice Note examines some of the different forms that debt securities can take and explains the meanings of, and differences between:

  1. •

    a definitive security and global security, and

  2. •

    a global security in bearer form and a global security in registered form

The focus of this Practice Note is on the key features of global debt securities and the global note structures. It should be read in conjunction with Practice Note: Form of debt securities—definitive securities which explains the key features of definitive securities.

What are the differences between global securities and definitive securities?

In theory, debt securities can be issued either in definitive form or in global form. In practice, all debt securities issued in the international capital markets are issued in global form.

One of the key differences between definitive securities and global securities is that:

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Jurisdiction(s):
United Kingdom
Key definition:
Debt Securities definition
What does Debt Securities mean?

Debt instruments constituted by a deed under which the borrower agrees with a creditor to repay a loan, usually with interest, within a given time frame.

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