Glossario

Bonds are instruments that give their holders the right to receive repayment of the face value at maturity and income in the form of interest ('coupon'). The issuer, for whom the bond is a debt since the proceeds of its sale are used for funding purposes, can be:

• a State (see Government bonds) or other government entity

• a bank or other type of company (in this case, they are referred to as 'corporate bonds')

• a supranational institution (which issues 'supranational bonds').