CORPORATE BONDS IN THE SYSTEM OF INVESTMENT BANKING

Abstract

The necessity of investment banking development (including consulting and intermediary services concerning issuance and circulation of corporate bonds) is grounded on the basis of revealed tendency of decreasing the role of banks in financing of capital investments. The analysis of structure and dynamics of securities’ volumes in the trade system of Belarusian Currency and Stock Exchange (including corporate bonds) is carried out. On the basis of analysis of current level of interest r bates for different sectors of financial market the conclusion about perspectivity of issuing the corporate bonds nominated in freely convertible currencies is given. The ways of corporate bonds’ market development are presented: the popularization of corporate bonds in the framework of increasing of financial literacy, the extension of the range of investment banking services, the usage of hybrid forms of investment financing.