It is widely expected that LIBOR (London Inter-Bank Offer Rate) will no longer be available as a global reference rate after 2021. Explain in detail the impact of this major change in the international financial markets, addressing current use of LIBOR in international finance (be comprehensive in identifying how LIBOR is used), the risks introduced by its projected "demise" (financial, operational, transactional, etc), and the efforts underway in the US and other major markets to manage the transition to an alternate reference rate.

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International Bonds

A bond is fixed-income security where a lender comes into a contract with the borrower. The borrower agrees to make payment and interest at a specified date in the future or on maturity period. It is a type of financing that helps to fulfill and meet obligations. Many people invest in bonds because it is a simple form of security.