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sur l'émetteur souverain

English translation: issued by the Italian Government/Italian sovereign bonds

09:57 Jan 8, 2011
French to English translations [PRO]
Bus/Financial - Investment / Securities / Inflation linked bonds
French term or phrase: sur l'émetteur souverain
I am a bit puzzled by the last part of below sentence (especially the word 'sur'):

• Nous avons par ailleurs acheté des obligations indexées italiennes d’échéance 2023, financées par la vente de taux fixes de maturité 2026 sur l’émetteur souverain italien.

Would anyone have any idea as to how to translate?

Thank you for your suggestions!
TMJS
Local time: 09:48
English translation:issued by the Italian Government/Italian sovereign bonds
Explanation:
they have swapped fixed rate Italian bonds with variable rate Italian bonds..
this is how I understand it
Selected response from:

CristianaC
United Kingdom
Local time: 08:48
Grading comment
Many thanks
2 KudoZ points were awarded for this answer



Summary of answers provided
4 +3issued by the Italian Government/Italian sovereign bonds
CristianaC


  

Answers


55 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
issued by the Italian Government/Italian sovereign bonds


Explanation:
they have swapped fixed rate Italian bonds with variable rate Italian bonds..
this is how I understand it


CristianaC
United Kingdom
Local time: 08:48
Specializes in field
Native speaker of: Native in ItalianItalian, Native in EnglishEnglish
PRO pts in category: 10
Grading comment
Many thanks

Peer comments on this answer (and responses from the answerer)
agree  Catherine Gilsenan
2 hrs
  -> thank you
agree  joehlindsay: It's important to get the term 'sovereign bond' if that's whate they are because they are somewhat different from other gov't bonds check wikipedia and investopedia for definitions.
7 hrs
  -> thank you, you're right- however here they are talking not about the bond but the issuer -so, on a second thought, I'd stay away from "sovereing bond", precisely for the reasons you have mentioned.
agree  rkillings: Any debt issued by a sovereign (issuer with sovereign immunity) is sovereign debt. Text doesn't actually say who issued the indexed bonds, but non-sovereigns are rarely in that business. Stick with 'bought' and 'sold'; don't say 'swapped'.
15 hrs
  -> thank you for clarification about sovereing debt.
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