T.

ROWE

PRICE

International

Bond

Fund

September

30,

2023

(Unaudited)

1

Portfolio

of

Investments

‡

Par/Shares

$

Value

(

Cost

and

value

in

$000s)

‡

ALBANIA

0.6%

Government

Bonds

0.6%

Republic

of

Albania,

3.50%,

10/9/25

(EUR) (1)

860,000‌

878‌

Republic

of

Albania,

3.50%,

6/16/27

(EUR) (1)

720,000‌

713‌

Republic

of

Albania,

3.50%,

11/23/31

(EUR) (1)

1,780,000‌

1,550‌

Republic

of

Albania,

5.90%,

6/9/28

(EUR) (1)

2,640,000‌

2,725‌

Total

Albania

(Cost

$6,580

)

5,866‌

AUSTRALIA

3.3%

Corporate

Bonds

0.8%

APA

Infrastructure,

3.50%,

3/22/30

(GBP) 

940,000‌

961‌

Brambles

Finance,

4.25%,

3/22/31

(EUR) 

1,430,000‌

1,488‌

NBN,

4.125%,

3/15/29

(EUR) 

1,910,000‌

2,000‌

Sydney

Airport

Finance,

4.375%,

5/3/33

(EUR) 

1,355,000‌

1,395‌

Transurban

Finance,

3.00%,

4/8/30

(EUR) 

1,900,000‌

1,845‌

7,689‌

Government

Bonds

2.5%

Commonwealth

of

Australia,

Series

140,

4.50%,

4/21/33 

23,559,000‌

15,218‌

Commonwealth

of

Australia,

Series

150,

3.00%,

3/21/47 

4,710,000‌

2,255‌

New

South

Wales

Treasury,

Series

26,

4.00%,

5/20/26 

9,397,400‌

5,996‌

23,469‌

Total

Australia

(Cost

$36,746

)

31,158‌

AUSTRIA

0.4%

Government

Bonds

0.4%

Republic

of

Austria,

0.75%,

3/20/51 (1)

6,877,000‌

3,667‌

Total

Austria

(Cost

$4,226

)

3,667‌

BELGIUM

0.0%

Corporate

Bonds

0.0%

Anheuser-Busch

InBev,

1.65%,

3/28/31 

300,000‌

271‌

Total

Belgium

(Cost

$282

)

271‌

BRAZIL

1.5%

Corporate

Bonds

0.2%

Braskem

Netherlands

Finance,

4.50%,

1/31/30

(USD) 

1,125,000‌

918‌

T.

ROWE

PRICE

International

Bond

Fund

2

Par/Shares

$

Value

(Cost

and

value

in

$000s)

MercadoLibre,

3.125%,

1/14/31

(USD) (2)

1,380,000‌

1,087‌

2,005‌

Government

Bonds

1.3%

Brazil

Notas

do

Tesouro

Nacional,

Series

NTNB,

6.00%,

8/15/30 

18,791,974‌

3,828‌

Brazil

Notas

do

Tesouro

Nacional,

Series

NTNB,

Inflation-

Indexed,

6.00%,

5/15/25 

6,779,541‌

1,354‌

Brazil

Notas

do

Tesouro

Nacional,

Series

NTNF,

10.00%,

1/1/27 

17,395,000‌

3,382‌

Brazil

Notas

do

Tesouro

Nacional,

Series

NTNF,

10.00%,

1/1/31 

16,606,000‌

3,076‌

11,640‌

Total

Brazil

(Cost

$13,648

)

13,645‌

BULGARIA

0.5%

Government

Bonds

0.5%

Republic

of

Bulgaria,

4.50%,

1/27/33

(EUR) (2)

3,310,000‌

3,386‌

Republic

of

Bulgaria,

4.50%,

1/27/33

(EUR) (1)

1,420,000‌

1,452‌

Total

Bulgaria

(Cost

$5,065

)

4,838‌

CANADA

3.2%

Asset-Backed

Securities

0.1%

Cologix

Canadian

Issuer,

Series

2022-1CAN,

Class

A2,

4.94%,

1/25/52 (1)

1,690,000‌

1,118‌

1,118‌

Corporate

Bonds

0.3%

Transcanada

Trust,

Series

17-B,

VR,

4.65%,

5/18/77 (3)

4,481,000‌

2,876‌

2,876‌

Government

Bonds

2.8%

Government

of

Canada,

1.25%,

3/1/27 

10,914,000‌

7,227‌

Government

of

Canada,

3.50%,

3/1/28 

5,550,000‌

3,964‌

Government

of

Canada,

5.00%,

6/1/37 

5,720,000‌

4,632‌

Government

of

Canada

Real

Return

Bond,

Inflation-Indexed,

Series

CPI,

4.00%,

12/1/31 

11,296,637‌

9,372‌

Province

of

Ontario,

3.50%,

6/2/43 

996,000‌

600‌

25,795‌

Total

Canada

(Cost

$33,641

)

29,789‌

CHILE

0.4%

Corporate

Bonds

0.3%

Celulosa

Arauco

y

Constitucion,

4.20%,

1/29/30

(USD) (1)

1,520,000‌

1,304‌

T.

ROWE

PRICE

International

Bond

Fund

3

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Interchile,

4.50%,

6/30/56

(USD) 

1,700,000‌

1,279‌

2,583‌

Government

Bonds

0.1%

Republic

of

Chile,

4.125%,

7/5/34

(EUR) 

1,100,000‌

1,106‌

1,106‌

Total

Chile

(Cost

$4,229

)

3,689‌

CHINA

6.9%

Convertible

Bonds

0.1%

Xiaomi

Best

Time

International,

Zero

Coupon,

12/17/27

(USD) 

1,200,000‌

1,025‌

1,025‌

Corporate

Bonds

0.3%

State

Grid

Overseas

Investment

BVI,

1.375%,

5/2/25

(EUR) (1)

2,000,000‌

2,016‌

Tencent

Holdings,

3.24%,

6/3/50

(USD) (2)

1,850,000‌

1,066‌

3,082‌

Government

Bonds

6.5%

China

Development

Bank,

Series

1905,

3.48%,

1/8/29 

30,000,000‌

4,255‌

People's

Republic

of

China,

Series

INBK,

2.60%,

9/1/32 

150,000,000‌

20,297‌

People's

Republic

of

China,

Series

INBK,

2.69%,

8/15/32 

70,000,000‌

9,539‌

People's

Republic

of

China,

Series

INBK,

3.02%,

5/27/31 

50,000,000‌

7,001‌

People's

Republic

of

China,

Series

INBK,

3.32%,

4/15/52 

30,000,000‌

4,310‌

People's

Republic

of

China,

Series

INBK,

3.53%,

10/18/51 

30,000,000‌

4,456‌

People's

Republic

of

China,

Series

1908,

4.00%,

6/24/69 

10,000,000‌

1,669‌

People's

Republic

of

China,

Series

1915,

3.13%,

11/21/29 

60,000,000‌

8,459‌

59,986‌

Total

China

(Cost

$65,836

)

64,093‌

COLOMBIA

0.6%

Government

Bonds

0.6%

Republic

of

Colombia,

Series

B,

6.00%,

4/28/28 

9,493,400,000‌

1,921‌

Republic

of

Colombia,

Series

B,

7.00%,

3/26/31 

17,280,000,000‌

3,322‌

Republic

of

Colombia,

Series

B,

13.25%,

2/9/33 

295,300,000‌

78‌

Total

Colombia

(Cost

$4,467

)

5,321‌

CYPRUS

0.5%

Government

Bonds

0.5%

Republic

of

Cyprus,

0.95%,

1/20/32 

3,426,000‌

2,842‌

Republic

of

Cyprus,

1.50%,

4/16/27 

425,000‌

416‌

Republic

of

Cyprus,

2.75%,

2/26/34 

547,000‌

501‌

T.

ROWE

PRICE

International

Bond

Fund

4

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Republic

of

Cyprus,

2.75%,

5/3/49 

642,000‌

488‌

Total

Cyprus

(Cost

$5,976

)

4,247‌

CZECH

REPUBLIC

0.7%

Government

Bonds

0.7%

Republic

of

Czech,

Series

105,

2.75%,

7/23/29 

82,820,000‌

3,234‌

Republic

of

Czech,

Series

125,

1.50%,

4/24/40 

59,000,000‌

1,604‌

Republic

of

Czech,

Series

142,

1.95%,

7/30/37 

50,870,000‌

1,587‌

Total

Czech

Republic

(Cost

$6,630

)

6,425‌

DENMARK

0.6%

Corporate

Bonds

0.6%

Carlsberg

Breweries,

0.875%,

7/1/29

(EUR) 

400,000‌

353‌

Danske

Bank,

VR,

0.75%,

6/9/29

(EUR) (3)

560,000‌

494‌

Danske

Bank,

VR,

1.375%,

2/17/27

(EUR) (3)

500,000‌

490‌

Danske

Bank,

VR,

1.375%,

2/12/30

(EUR) (3)

775,000‌

774‌

Orsted,

4.875%,

1/12/32

(GBP) 

910,000‌

1,023‌

TDC

Net,

5.618%,

2/6/30

(EUR) 

2,345,000‌

2,411‌

Total

Denmark

(Cost

$5,869

)

5,545‌

FRANCE

3.1%

Corporate

Bonds

1.8%

Altice

France,

5.875%,

2/1/27 (1)

375,000‌

340‌

Banijay

Entertainment,

7.00%,

5/1/29 (1)

175,000‌

183‌

Banque

Federative

du

Credit

Mutuel,

1.25%,

5/26/27 (2)

500,000‌

477‌

Banque

Federative

du

Credit

Mutuel,

1.375%,

7/16/28 

500,000‌

466‌

Banque

Federative

du

Credit

Mutuel,

5.125%,

1/13/33 

900,000‌

923‌

BNP

Paribas,

VR,

2.125%,

1/23/27 (3)

1,000,000‌

998‌

BNP

Paribas,

VR,

3.875%,

1/10/31 (2)(3)

1,000,000‌

1,036‌

BPCE,

0.25%,

1/14/31 

1,100,000‌

874‌

BPCE,

3.50%,

1/25/28 

900,000‌

925‌

Credit

Agricole,

1.00%,

9/16/24 

1,400,000‌

1,437‌

Credit

Agricole,

1.875%,

12/20/26 

1,100,000‌

1,083‌

Credit

Agricole

Assurances,

VR,

2.625%,

1/29/48 (3)

1,000,000‌

925‌

Electricite

de

France,

6.125%,

6/2/34

(GBP) 

1,200,000‌

1,409‌

Holding

d'Infrastructures

de

Transport,

1.475%,

1/18/31 

1,300,000‌

1,093‌

IPD

3,

8.00%,

6/15/28 (1)

305,000‌

325‌

Loxam,

6.375%,

5/15/28 

645,000‌

666‌

Orange,

3.25%,

1/15/32

(GBP) 

1,100,000‌

1,140‌

RTE

Reseau

de

Transport

d'Electricite

SADIR,

0.75%,

1/12/34 

1,100,000‌

856‌

Veolia

Environnement,

1.25%,

4/2/27 

1,000,000‌

965‌

T.

ROWE

PRICE

International

Bond

Fund

5

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Veolia

Environnement,

1.94%,

1/7/30 (2)

500,000‌

466‌

16,587‌

Government

Bonds

1.3%

Republic

of

France,

1.25%,

5/25/36 (1)

10,647,000‌

8,583‌

Republic

of

France,

3.00%,

5/25/33 

3,300,000‌

3,371‌

11,954‌

Total

France

(Cost

$33,873

)

28,541‌

GERMANY

6.4%

Corporate

Bonds

1.2%

Allianz,

VR,

3.375% (3)(4)

2,300,000‌

2,371‌

E.ON

International

Finance,

6.25%,

6/3/30

(GBP) 

1,865,000‌

2,318‌

Fresenius,

5.00%,

11/28/29 

1,200,000‌

1,279‌

Gruenenthal,

3.625%,

11/15/26 (1)

200,000‌

200‌

Gruenenthal,

6.75%,

5/15/30 (1)

100,000‌

107‌

Gruenenthal,

6.75%,

5/15/30 

600,000‌

641‌

Hannover

Rueck,

VR,

1.125%,

10/9/39 (3)

1,900,000‌

1,579‌

Hannover

Rueck,

VR,

1.75%,

10/8/40 (3)

900,000‌

749‌

TK

Elevator

Midco,

4.375%,

7/15/27 (1)

490,000‌

468‌

Volkswagen

International

Finance,

Series

10Y,

1.875%,

3/30/27 

200,000‌

193‌

Volkswagen

Leasing,

1.50%,

6/19/26 

1,630,000‌

1,597‌

11,502‌

Government

Bonds

5.2%

Bundesrepublik

Deutschland

Bundesanleihe,

0.00%,

2/15/30 

18,320,000‌

16,314‌

Deutsche

Bundesrepublik,

Inflation-Indexed,

0.10%,

4/15/26 

16,031,190‌

16,625‌

Deutsche

Bundesrepublik,

Inflation-Indexed,

0.50%,

4/15/30 

13,665,046‌

14,494‌

KfW,

4.70%,

6/2/37

(CAD) 

924,000‌

658‌

48,091‌

Total

Germany

(Cost

$62,903

)

59,593‌

GREECE

0.3%

Government

Bonds

0.3%

Hellenic

Republic,

0.75%,

6/18/31 (1)

3,809,000‌

3,147‌

Total

Greece

(Cost

$4,585

)

3,147‌

HUNGARY

1.0%

Corporate

Bonds

0.1%

OTP

Bank,

VR,

7.35%,

3/4/26

(EUR) (3)

910,000‌

980‌

980‌

T.

ROWE

PRICE

International

Bond

Fund

6

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Government

Bonds

0.9%

Republic

of

Hungary,

5.00%,

2/22/27

(EUR) 

1,557,000‌

1,656‌

Republic

of

Hungary,

Series

33/A,

2.25%,

4/20/33 

3,544,590,000‌

6,487‌

8,143‌

Total

Hungary

(Cost

$11,449

)

9,123‌

ICELAND

0.4%

Corporate

Bonds

0.2%

Landsbankinn,

0.375%,

5/23/25

(EUR) 

1,675,000‌

1,640‌

1,640‌

Government

Bonds

0.2%

Republic

of

Iceland,

0.00%,

4/15/28

(EUR) 

2,249,000‌

1,997‌

1,997‌

Total

Iceland

(Cost

$4,600

)

3,637‌

INDIA

1.0%

Corporate

Bonds

0.2%

ABJA

Investment,

5.95%,

7/31/24

(USD) 

1,200,000‌

1,197‌

State

Bank

of

India,

4.875%,

5/5/28

(USD) (2)

825,000‌

798‌

1,995‌

Government

Bonds

0.8%

Republic

of

India,

7.26%,

8/22/32 

602,040,000‌

7,250‌

7,250‌

Total

India

(Cost

$9,285

)

9,245‌

INDONESIA

1.7%

Corporate

Bonds

0.0%

Minejesa

Capital,

5.625%,

8/10/37

(USD) 

400,000‌

307‌

307‌

Government

Bonds

1.7%

Republic

of

Indonesia,

3.75%,

6/14/28

(EUR) (2)

6,942,000‌

7,194‌

Republic

of

Indonesia,

Series

FR87,

6.50%,

2/15/31 

13,738,000,000‌

873‌

Republic

of

Indonesia,

Series

FR91,

6.375%,

4/15/32 

52,200,000,000‌

3,298‌

Republic

of

Indonesia,

Series

FR95,

6.375%,

8/15/28 

69,495,000,000‌

4,472‌

15,837‌

Total

Indonesia

(Cost

$17,493

)

16,144‌

T.

ROWE

PRICE

International

Bond

Fund

7

Par/Shares

$

Value

(Cost

and

value

in

$000s)

IRELAND

0.1%

Government

Bonds

0.1%

Republic

of

Ireland,

1.50%,

5/15/50 

522,000‌

345‌

Republic

of

Ireland,

2.00%,

2/18/45 

983,000‌

776‌

Total

Ireland

(Cost

$2,005

)

1,121‌

ISRAEL

2.0%

Corporate

Bonds

0.2%

Bank

Hapoalim,

VR,

3.255%,

1/21/32

(USD) (1)(3)

1,280,000‌

1,092‌

Israel

Electric,

7.875%,

12/15/26

(USD) 

950,000‌

982‌

2,074‌

Government

Bonds

1.8%

State

of

Israel,

1.50%,

1/18/27

(EUR) 

3,044,000‌

2,976‌

State

of

Israel,

Series

0142,

5.50%,

1/31/42 

18,595,000‌

5,541‌

State

of

Israel,

Series

0347,

3.75%,

3/31/47 

2,249,000‌

527‌

State

of

Israel,

Series

0825,

1.75%,

8/31/25 

28,725,389‌

7,146‌

16,190‌

Total

Israel

(Cost

$22,701

)

18,264‌

ITALY

4.1%

Corporate

Bonds

0.8%

Autostrade

per

l'Italia,

2.00%,

12/4/28 

990,000‌

915‌

Autostrade

per

l'Italia,

2.00%,

1/15/30 

1,067,000‌

940‌

CA

Auto

Bank,

0.50%,

9/13/24 

1,000,000‌

1,019‌

Inter

Media

and

Communication,

6.75%,

2/9/27 

920,000‌

929‌

Intesa

Sanpaolo,

1.75%,

7/4/29 

1,515,000‌

1,352‌

Lottomatica,

FRN,

3M

EURIBOR

+

4.125%,

7.928%,

6/1/28 (1)

185,000‌

197‌

Snam,

0.875%,

10/25/26 

1,165,000‌

1,119‌

UniCredit,

VR,

4.875%,

2/20/29 (3)

650,000‌

684‌

7,155‌

Government

Bonds

3.3%

Italy

Buoni

Poliennali

Del

Tesoro,

Series

10Y,

4.40%,

5/1/33 

19,916,000‌

20,600‌

Italy

Buoni

Poliennali

Del

Tesoro,

Series

50Y,

2.80%,

3/1/67 

6,061,000‌

3,917‌

Italy

Buoni

Poliennali

Del

Tesoro,

Series

CPI,

1.30%,

5/15/28 (1)

6,087,720‌

6,245‌

30,762‌

Total

Italy

(Cost

$43,149

)

37,917‌

T.

ROWE

PRICE

International

Bond

Fund

8

Par/Shares

$

Value

(Cost

and

value

in

$000s)

IVORY

COAST

0.1%

Government

Bonds

0.1%

Republic

of

Ivory

Coast,

5.875%,

10/17/31

(EUR) 

1,565,000‌

1,370‌

Total

Ivory

Coast

(Cost

$1,363

)

1,370‌

JAPAN

14.3%

Government

Bonds

14.3%

Government

of

Japan,

Series

16,

1.30%,

3/20/63 

1,748,050,000‌

10,159‌

Government

of

Japan,

Series

44,

1.70%,

9/20/44 

1,160,500,000‌

8,063‌

Government

of

Japan,

Series

73,

0.70%,

12/20/51 

53,700,000‌

284‌

Government

of

Japan,

Series

74,

1.00%,

3/20/52 

1,890,250,000‌

10,808‌

Government

of

Japan,

Series

75,

1.30%,

6/20/52 

1,516,250,000‌

9,336‌

Government

of

Japan,

Series

76,

1.40%,

9/20/52 

1,860,800,000‌

11,747‌

Government

of

Japan,

Series

338,

0.40%,

3/20/25 

2,089,800,000‌

14,067‌

Government

of

Japan

Treasury

Bills,

Series

1177,

(0.13)%,

11/20/23 

3,800,000,000‌

25,435‌

Government

of

Japan,

Inflation-Indexed,

Series

18,

0.10%,

3/10/24 

906,936,000‌

6,184‌

Government

of

Japan,

Inflation-Indexed,

Series

19,

0.10%,

9/10/24 

1,574,698,800‌

10,795‌

Government

of

Japan,

Inflation-Indexed,

Series

20,

0.10%,

3/10/25 

1,712,561,600‌

11,803‌

Government

of

Japan,

Inflation-Indexed,

Series

26,

0.005%,

3/10/31 

1,252,232,880‌

8,897‌

Government

of

Japan,

Inflation-Indexed,

Series

27,

0.005%,

3/10/32 

760,452,925‌

5,363‌

Total

Japan

(Cost

$159,173

)

132,941‌

KUWAIT

0.1%

Corporate

Bonds

0.1%

MEGlobal,

2.625%,

4/28/28

(USD) (1)

1,485,000‌

1,286‌

Total

Kuwait

(Cost

$1,488

)

1,286‌

LATVIA

1.2%

Government

Bonds

1.2%

Republic

of

Latvia,

0.375%,

10/7/26

(EUR) 

11,633,000‌

11,098‌

Total

Latvia

(Cost

$13,214

)

11,098‌

T.

ROWE

PRICE

International

Bond

Fund

9

Par/Shares

$

Value

(Cost

and

value

in

$000s)

LITHUANIA

0.6%

Corporate

Bonds

0.0%

PLT

VII

Finance,

4.625%,

1/5/26 (1)

200,000‌

205‌

205‌

Government

Bonds

0.6%

Republic

of

Lithuania,

3.875%,

6/14/33 

5,040,000‌

5,200‌

5,200‌

Total

Lithuania

(Cost

$5,570

)

5,405‌

LUXEMBOURG

0.4%

Corporate

Bonds

0.4%

Albion

Financing

1,

5.25%,

10/15/26 

600,000‌

599‌

Altice

Financing,

4.25%,

8/15/29 (1)

365,000‌

320‌

Blackstone

Property

Partners

Europe

Holdings,

1.75%,

3/12/29 

1,700,000‌

1,406‌

Logicor

Financing,

1.50%,

7/13/26 

1,075,000‌

1,018‌

Total

Luxembourg

(Cost

$4,103

)

3,343‌

MALAYSIA

2.3%

Government

Bonds

2.3%

Government

of

Malaysia,

Series

0120,

4.065%,

6/15/50 

21,374,000‌

4,259‌

Government

of

Malaysia,

Series

0216,

4.736%,

3/15/46 

63,031,000‌

14,036‌

Government

of

Malaysia,

Series

0318,

4.642%,

11/7/33 

15,499,000‌

3,481‌

Total

Malaysia

(Cost

$23,859

)

21,776‌

MEXICO

1.9%

Corporate

Bonds

0.2%

America

Movil,

5.75%,

6/28/30

(GBP) (2)

1,070,000‌

1,315‌

1,315‌

Government

Bonds

1.7%

Petroleos

Mexicanos,

4.75%,

2/26/29

(EUR) 

2,185,000‌

1,752‌

United

Mexican

States,

Series

M,

7.50%,

5/26/33 

145,425,000‌

7,093‌

United

Mexican

States,

Series

M,

8.50%,

5/31/29 

21,234,000‌

1,140‌

United

Mexican

States,

Series

M,

8.50%,

11/18/38 

118,327,000‌

5,989‌

15,974‌

Total

Mexico

(Cost

$17,795

)

17,289‌

T.

ROWE

PRICE

International

Bond

Fund

10

Par/Shares

$

Value

(Cost

and

value

in

$000s)

NETHERLANDS

0.7%

Corporate

Bonds

0.7%

GTCR

W-2

Merger,

8.50%,

1/15/31

(GBP) (1)

100,000‌

124‌

ING

Groep,

VR,

1.25%,

2/16/27 (3)

1,500,000‌

1,469‌

LeasePlan,

VR,

7.375% (3)(4)

1,500,000‌

1,566‌

Nationale-Nederlanden

Bank,

0.375%,

2/26/25 

1,000,000‌

1,001‌

TenneT

Holding,

2.00%,

6/5/34 

2,100,000‌

1,900‌

VZ

Secured

Financing,

3.50%,

1/15/32 (2)

600,000‌

488‌

Ziggo,

2.875%,

1/15/30 (2)

510,000‌

435‌

Total

Netherlands

(Cost

$7,581

)

6,983‌

NEW

ZEALAND

0.9%

Corporate

Bonds

0.1%

Chorus,

3.625%,

9/7/29

(EUR) 

1,290,000‌

1,310‌

1,310‌

Government

Bonds

0.8%

New

Zealand

Government

Bond,

Series

0433,

3.50%,

4/14/33 

14,136,000‌

7,324‌

7,324‌

Total

New

Zealand

(Cost

$9,563

)

8,634‌

NORTH

MACEDONIA

0.1%

Government

Bonds

0.1%

Republic

of

North

Macedonia,

6.96%,

3/13/27

(EUR) (1)

860,000‌

928‌

Total

North

Macedonia

(Cost

$911

)

928‌

NORWAY

0.2%

Corporate

Bonds

0.2%

Avinor,

0.75%,

10/1/30

(EUR) 

1,750,000‌

1,481‌

Total

Norway

(Cost

$1,554

)

1,481‌

PERU

0.5%

Corporate

Bonds

0.1%

Banco

de

Credito

del

Peru,

VR,

3.125%,

7/1/30

(USD) (3)

1,170,000‌

1,076‌

1,076‌

T.

ROWE

PRICE

International

Bond

Fund

11

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Government

Bonds

0.4%

Republic

of

Peru,

5.40%,

8/12/34 

13,880,000‌

3,131‌

3,131‌

Total

Peru

(Cost

$4,314

)

4,207‌

PHILIPPINES

0.1%

Government

Bonds

0.1%

Republic

of

Philippines,

0.25%,

4/28/25

(EUR) 

910,000‌

899‌

Total

Philippines

(Cost

$1,092

)

899‌

POLAND

0.0%

Corporate

Bonds

0.0%

InPost,

2.25%,

7/15/27

(EUR) (1)

365,000‌

336‌

Total

Poland

(Cost

$435

)

336‌

PORTUGAL

0.3%

Corporate

Bonds

0.3%

Banco

Comercial

Portugues,

VR,

1.125%,

2/12/27 (3)

1,000,000‌

949‌

Banco

Comercial

Portugues,

VR,

1.75%,

4/7/28 (3)

600,000‌

553‌

Banco

Comercial

Portugues,

VR,

6.888%,

12/7/27 (2)(3)

1,200,000‌

1,217‌

Total

Portugal

(Cost

$2,845

)

2,719‌

QATAR

0.2%

Corporate

Bonds

0.2%

QNB

Finance,

2.75%,

2/12/27

(USD) 

2,200,000‌

2,015‌

Total

Qatar

(Cost

$2,103

)

2,015‌

ROMANIA

1.7%

Corporate

Bonds

0.4%

Banca

Transilvania,

VR,

8.875%,

4/27/27

(EUR) (3)

2,555,000‌

2,811‌

RCS

&

RDS,

3.25%,

2/5/28

(EUR) 

1,100,000‌

961‌

3,772‌

Government

Bonds

1.3%

Republic

of

Romania,

2.125%,

3/7/28

(EUR) (1)

1,510,000‌

1,388‌

Republic

of

Romania,

2.875%,

10/28/24

(EUR) 

305,000‌

317‌

Republic

of

Romania,

2.875%,

5/26/28

(EUR) (2)

3,700,000‌

3,508‌

T.

ROWE

PRICE

International

Bond

Fund

12

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Republic

of

Romania,

Series

15Y,

4.75%,

10/11/34 

37,045,000‌

6,546‌

11,759‌

Total

Romania

(Cost

$17,164

)

15,531‌

SAUDI

ARABIA

0.1%

Government

Bonds

0.1%

Saudi

Arabian

Oil,

4.25%,

4/16/39

(USD) (2)

1,000,000‌

816‌

Total

Saudi

Arabia

(Cost

$927

)

816‌

SENEGAL

0.1%

Government

Bonds

0.1%

Republic

of

Senegal,

5.375%,

6/8/37

(EUR) 

1,530,000‌

1,041‌

Total

Senegal

(Cost

$1,064

)

1,041‌

SERBIA

1.0%

Corporate

Bonds

0.1%

Summer

BidCo,

9.00%,

11/15/25,

(9.00%

Cash

or

9.75%

PIK)

(EUR) (5)

296,383‌

306‌

United

Group,

4.625%,

8/15/28

(EUR) (1)

650,000‌

588‌

894‌

Government

Bonds

0.9%

Republic

of

Serbia,

1.00%,

9/23/28

(EUR) (1)

4,900,000‌

4,042‌

Republic

of

Serbia,

1.50%,

6/26/29

(EUR) (1)(2)

1,890,000‌

1,542‌

Republic

of

Serbia,

1.65%,

3/3/33

(EUR) 

2,090,000‌

1,447‌

Republic

of

Serbia,

2.05%,

9/23/36

(EUR) (1)

607,000‌

382‌

Republic

of

Serbia,

2.05%,

9/23/36

(EUR) 

925,000‌

582‌

7,995‌

Total

Serbia

(Cost

$12,130

)

8,889‌

SINGAPORE

3.4%

Government

Bonds

3.4%

Government

of

Singapore,

0.50%,

11/1/25 

7,340,000‌

5,028‌

Government

of

Singapore,

1.625%,

7/1/31 

8,331,000‌

5,361‌

Government

of

Singapore,

2.375%,

6/1/25 

3,960,000‌

2,833‌

Government

of

Singapore,

2.875%,

7/1/29 

25,984,000‌

18,495‌

Total

Singapore

(Cost

$32,318

)

31,717‌

T.

ROWE

PRICE

International

Bond

Fund

13

Par/Shares

$

Value

(Cost

and

value

in

$000s)

SLOVENIA

0.7%

Government

Bonds

0.7%

Republic

of

Slovenia,

Series

RS74,

1.50%,

3/25/35 (2)

1,805,000‌

1,473‌

Republic

of

Slovenia,

Series

RS76,

3.125%,

8/7/45 

3,533,000‌

3,225‌

Republic

of

Slovenia,

Series

RS77,

2.25%,

3/3/32 (2)

900,000‌

855‌

Republic

of

Slovenia,

Series

RS86,

0.00%,

2/12/31 

955,000‌

775‌

Total

Slovenia

(Cost

$8,215

)

6,328‌

SOUTH

AFRICA

1.3%

Corporate

Bonds

0.1%

Anglo

American

Capital,

3.375%,

3/11/29

(GBP) 

850,000‌

906‌

906‌

Government

Bonds

1.2%

Republic

of

South

Africa,

Series

R186,

10.50%,

12/21/26 

76,790,000‌

4,179‌

Republic

of

South

Africa,

Series

R213,

7.00%,

2/28/31 

165,298,000‌

6,857‌

11,036‌

Total

South

Africa

(Cost

$12,628

)

11,942‌

SOUTH

KOREA

0.4%

Corporate

Bonds

0.4%

NongHyup

Bank,

4.875%,

7/3/28

(USD) (1)

1,940,000‌

1,884‌

Shinhan

Bank,

4.50%,

4/12/28

(USD) (1)

2,090,000‌

2,008‌

Total

South

Korea

(Cost

$4,016

)

3,892‌

SPAIN

2.3%

Corporate

Bonds

1.2%

Banco

Bilbao

Vizcaya

Argentaria,

3.375%,

9/20/27 

1,400,000‌

1,433‌

Banco

Bilbao

Vizcaya

Argentaria,

VR,

5.75%,

9/15/33 (3)

400,000‌

419‌

Banco

de

Sabadell,

VR,

0.875%,

6/16/28 (3)

1,100,000‌

990‌

Banco

de

Sabadell,

VR,

5.125%,

11/10/28 (3)

900,000‌

957‌

Banco

Santander,

1.125%,

1/17/25 (2)

1,000,000‌

1,015‌

CaixaBank,

3.75%,

9/7/29 (2)

600,000‌

616‌

CaixaBank,

VR,

6.25%,

2/23/33 (3)

400,000‌

423‌

Cellnex

Telecom,

1.75%,

10/23/30 (2)

2,200,000‌

1,885‌

Cirsa

Finance

International,

7.875%,

7/31/28 (1)

760,000‌

806‌

Inmobiliaria

Colonial

Socimi,

1.625%,

11/28/25 

1,500,000‌

1,500‌

Lorca

Telecom

Bondco,

4.00%,

9/18/27 (2)

1,500,000‌

1,472‌

11,516‌

T.

ROWE

PRICE

International

Bond

Fund

14

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Government

Bonds

1.1%

Kingdom

of

Spain,

0.00%,

1/31/28 

10,972,000‌

9,998‌

9,998‌

Total

Spain

(Cost

$22,401

)

21,514‌

SRI

LANKA

0.4%

Government

Bonds

0.4%

Republic

of

Sri

Lanka

Treasury

Bills,

Series

182,

19.00%,

12/1/23 

83,000,000‌

250‌

Republic

of

Sri

Lanka

Treasury

Bills,

Series

182,

19.00%,

12/15/23 

257,000,000‌

768‌

Republic

of

Sri

Lanka

Treasury

Bills,

Series

182,

19.70%,

12/8/23 

136,000,000‌

408‌

Republic

of

Sri

Lanka

Treasury

Bills,

Series

182,

23.18%,

10/6/23 

272,000,000‌

837‌

Republic

of

Sri

Lanka

Treasury

Bills,

Series

364,

21.75%,

4/5/24 

381,000,000‌

1,091‌

Total

Sri

Lanka

(Cost

$3,412

)

3,354‌

SWEDEN

2.3%

Corporate

Bonds

0.3%

Akelius

Residential

Property,

1.75%,

2/7/25

(EUR) 

1,010,000‌

1,014‌

Tele2,

0.75%,

3/23/31

(EUR) 

610,000‌

497‌

Verisure

Holding,

3.875%,

7/15/26

(EUR) (1)

260,000‌

258‌

Verisure

Holding,

9.25%,

10/15/27

(EUR) 

600,000‌

672‌

2,441‌

Government

Bonds

2.0%

Kingdom

of

Sweden,

Series

1056,

2.25%,

6/1/32 

218,065,000‌

18,806‌

18,806‌

Total

Sweden

(Cost

$25,590

)

21,247‌

SWITZERLAND

0.4%

Corporate

Bonds

0.4%

ABB

Finance,

3.375%,

1/16/31

(EUR) 

700,000‌

710‌

Aquarius

+

Investments

for

Zurich

Insurance,

VR,

4.25%,

10/2/43

(EUR) (3)

1,069,000‌

1,130‌

UBS

Group,

VR,

2.875%,

4/2/32

(EUR) (3)

1,115,000‌

1,012‌

UBS

Group,

VR,

7.75%,

3/1/29

(EUR) (3)

875,000‌

1,020‌

Total

Switzerland

(Cost

$3,991

)

3,872‌

T.

ROWE

PRICE

International

Bond

Fund

15

Par/Shares

$

Value

(Cost

and

value

in

$000s)

THAILAND

2.4%

Corporate

Bonds

0.1%

Bangkok

Bank,

VR,

3.733%,

9/25/34

(USD) (3)

1,340,000‌

1,120‌

1,120‌

Government

Bonds

2.3%

Kingdom

of

Thailand,

2.00%,

12/17/31 

500,073,000‌

12,655‌

Kingdom

of

Thailand,

3.45%,

6/17/43 

114,750,000‌

3,063‌

Kingdom

of

Thailand,

3.65%,

6/20/31 

204,042,000‌

5,823‌

21,541‌

Total

Thailand

(Cost

$26,063

)

22,661‌

UNITED

ARAB

EMIRATES

0.2%

Corporate

Bonds

0.2%

Abu

Dhabi

National

Energy,

4.375%,

1/24/29

(USD) (1)

1,135,000‌

1,087‌

MDGH

GMTN

RSC,

4.375%,

11/22/33

(USD) (1)

770,000‌

704‌

Total

United

Arab

Emirates

(Cost

$1,894

)

1,791‌

UNITED

KINGDOM

9.0%

Corporate

Bonds

2.8%

Barclays,

VR,

0.577%,

8/9/29

(EUR) (3)

820,000‌

702‌

Barclays,

VR,

0.877%,

1/28/28

(EUR) (2)(3)

800,000‌

746‌

Barclays,

VR,

5.262%,

1/29/34

(EUR) (3)

460,000‌

477‌

Barclays,

VR,

6.369%,

1/31/31 (3)

790,000‌

941‌

Bellis

Acquisition,

3.25%,

2/16/26 (1)

450,000‌

476‌

Deuce

Finco,

5.50%,

6/15/27 (1)

345,000‌

368‌

Eastern

Power

Networks,

5.75%,

3/8/24 

38,000‌

46‌

Heathrow

Funding,

2.75%,

10/13/29 

1,072,000‌

1,093‌

HSBC

Holdings,

VR,

4.752%,

3/10/28

(EUR) (3)

1,830,000‌

1,933‌

Jerrold

Finco,

5.25%,

1/15/27 

600,000‌

646‌

Kane

Bidco,

5.00%,

2/15/27

(EUR) 

1,455,000‌

1,464‌

Legal

&

General

Group,

VR,

5.375%,

10/27/45 (3)

525,000‌

621‌

Marks

&

Spencer,

6.00%,

6/12/25 

450,000‌

543‌

Motion

Finco,

7.375%,

6/15/30

(EUR) (1)

1,085,000‌

1,123‌

Nationwide

Building

Society,

VR,

2.00%,

7/25/29

(EUR) (3)

950,000‌

972‌

NatWest

Group,

VR,

0.67%,

9/14/29

(EUR) (3)

850,000‌

731‌

NatWest

Group,

VR,

0.78%,

2/26/30

(EUR) (3)

365,000‌

310‌

NatWest

Group,

VR,

1.043%,

9/14/32

(EUR) (3)

850,000‌

744‌

Next

Group,

3.625%,

5/18/28 

1,787,000‌

1,967‌

Next

Group,

4.375%,

10/2/26 

540,000‌

630‌

Santander

U.K.

Group

Holdings,

VR,

0.603%,

9/13/29

(EUR) (3)

1,050,000‌

894‌

T.

ROWE

PRICE

International

Bond

Fund

16

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Santander

U.K.

Group

Holdings,

VR,

2.421%,

1/17/29 (3)

530,000‌

544‌

Santander

U.K.

Group

Holdings,

VR,

3.53%,

8/25/28

(EUR) (3)

800,000‌

804‌

Severn

Trent

Utilities

Finance,

4.625%,

11/30/34 

960,000‌

1,037‌

Severn

Trent

Utilities

Finance,

6.125%,

2/26/24 

104,000‌

127‌

Sky,

1.875%,

11/24/23

(EUR) 

881,000‌

928‌

Standard

Chartered,

VR,

2.50%,

9/9/30

(EUR) (3)

1,200,000‌

1,197‌

Tesco

Corporate

Treasury

Services,

0.875%,

5/29/26

(EUR) 

1,000,000‌

970‌

Tesco

Corporate

Treasury

Services,

1.875%,

11/2/28 

950,000‌

956‌

Victoria,

3.625%,

8/24/26

(EUR) (2)

650,000‌

538‌

Vmed

O2

U.K.

Financing

I,

4.50%,

7/15/31 (1)

1,095,000‌

1,045‌

Vmed

O2

U.K.

Financing

I,

4.50%,

7/15/31 

750,000‌

716‌

26,289‌

Government

Bonds

6.2%

United

Kingdom

Gilt,

0.625%,

6/7/25 

12,751,000‌

14,554‌

United

Kingdom

Gilt,

0.625%,

10/22/50 

5,300,000‌

2,373‌

United

Kingdom

Gilt,

1.50%,

7/22/26 

5,885,000‌

6,628‌

United

Kingdom

Gilt,

1.625%,

10/22/28 

19,280,000‌

20,687‌

United

Kingdom

Gilt,

4.25%,

12/7/46 

6,016,792‌

6,668‌

United

Kingdom

Gilt,

Inflation-Indexed,

Series

3MO,

0.125%,

3/22/26 

5,760,710‌

6,917‌

57,827‌

Total

United

Kingdom

(Cost

$93,172

)

84,116‌

UNITED

STATES

4.9%

Corporate

Bonds

4.7%

AbbVie,

2.625%,

11/15/28

(EUR) 

995,000‌

987‌

American

Honda

Finance,

0.75%,

11/25/26

(GBP) (2)

796,000‌

841‌

American

Honda

Finance,

1.95%,

10/18/24

(EUR) 

847,000‌

877‌

Ardagh

Metal

Packaging

Finance

USA,

3.00%,

9/1/29

(EUR) (1)

1,130,000‌

905‌

AT&T,

3.95%,

4/30/31

(EUR) 

2,300,000‌

2,333‌

Athene

Global

Funding,

0.832%,

1/8/27

(EUR) 

1,045,000‌

966‌

Bank

of

America,

VR,

1.379%,

2/7/25

(EUR) (3)

1,414,000‌

1,480‌

Becton

Dickinson

&

Company,

3.02%,

5/24/25

(GBP) 

1,018,000‌

1,191‌

Becton

Dickinson

Euro

Finance,

1.213%,

2/12/36

(EUR) 

408,000‌

296‌

Berkshire

Hathaway

Finance,

1.50%,

3/18/30

(EUR) 

1,020,000‌

922‌

Capital

One

Financial,

1.65%,

6/12/29

(EUR) 

2,100,000‌

1,811‌

Comcast,

0.00%,

9/14/26

(EUR) 

1,000,000‌

942‌

Dana

Financing

Luxembourg,

8.50%,

7/15/31

(EUR) (1)

464,000‌

496‌

Encore

Capital

Group,

4.875%,

10/15/25

(EUR) (1)(2)

540,000‌

554‌

Encore

Capital

Group,

5.375%,

2/15/26

(GBP) (1)

910,000‌

1,017‌

Fiserv,

1.625%,

7/1/30

(EUR) (2)

100,000‌

88‌

Fiserv,

3.00%,

7/1/31

(GBP) 

1,000,000‌

999‌

Fiserv,

4.50%,

5/24/31

(EUR) 

1,760,000‌

1,836‌

T.

ROWE

PRICE

International

Bond

Fund

17

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Ford

Motor

Credit,

4.867%,

8/3/27

(EUR) 

1,050,000‌

1,094‌

General

Motors

Financial,

0.85%,

2/26/26

(EUR) 

1,000,000‌

972‌

Goldman

Sachs

Group,

1.625%,

7/27/26

(EUR) 

1,204,000‌

1,194‌

Goldman

Sachs

Group,

VR,

3.625%,

10/29/29

(GBP) (3)

545,000‌

592‌

Graphic

Packaging

International,

2.625%,

2/1/29

(EUR) (1)

625,000‌

573‌

Harley-Davidson

Financial

Services,

5.125%,

4/5/26

(EUR) (2)

1,370,000‌

1,464‌

Highland

Holdings,

0.318%,

12/15/26

(EUR) (2)

765,000‌

718‌

JPMorgan

Chase,

1.50%,

10/29/26

(EUR) 

1,300,000‌

1,275‌

Medtronic

Global

Holdings,

0.375%,

10/15/28

(EUR) 

554,000‌

492‌

Metropolitan

Life

Global

Funding,

5.00%,

1/10/30

(GBP) 

650,000‌

765‌

Mondelez

International,

0.25%,

3/17/28

(EUR) 

1,960,000‌

1,764‌

Mondelez

International

Holdings

Netherlands,

0.25%,

9/9/29

(EUR) (1)

689,000‌

587‌

Morgan

Stanley,

VR,

0.406%,

10/29/27

(EUR) (3)

1,269,000‌

1,188‌

Morgan

Stanley,

VR,

0.495%,

10/26/29

(EUR) (3)

2,120,000‌

1,830‌

Morgan

Stanley,

VR,

5.148%,

1/25/34

(EUR) (3)

400,000‌

432‌

Netflix,

3.875%,

11/15/29

(EUR) (2)

975,000‌

997‌

Prologis,

2.25%,

6/30/29

(GBP) 

1,252,000‌

1,262‌

Thermo

Fisher

Scientific,

0.875%,

10/1/31

(EUR) 

955,000‌

793‌

Thermo

Fisher

Scientific,

2.375%,

4/15/32

(EUR) 

156,000‌

145‌

Thermo

Fisher

Scientific

Finance

I,

0.80%,

10/18/30

(EUR) 

593,000‌

506‌

Upjohn

Finance,

1.908%,

6/23/32

(EUR) 

880,000‌

715‌

Utah

Acquisition,

3.125%,

11/22/28

(EUR) 

995,000‌

966‌

Verizon

Communications,

1.30%,

5/18/33

(EUR) 

835,000‌

669‌

Verizon

Communications,

2.625%,

12/1/31

(EUR) 

750,000‌

701‌

VF,

4.125%,

3/7/26

(EUR) 

669,000‌

696‌

VF,

4.25%,

3/7/29

(EUR) (2)

695,000‌

709‌

Westlake,

1.625%,

7/17/29

(EUR) 

1,680,000‌

1,477‌

43,117‌

Municipal

Securities

0.2%

Puerto

Rico

Commonwealth,

GO,

VR,

11/1/43 (6)

3,929,813‌

2,039‌

2,039‌

Total

United

States

(Cost

$51,208

)

45,156‌

SHORT-TERM

INVESTMENTS

5.4%

Money

Market

Funds

3.7%

T.

Rowe

Price

Government

Reserve

Fund,

5.40% (7)(8)

34,152,400‌

34,152‌

34,152‌

U.S.

Treasury

Obligations

1.7%

U.S.

Treasury

Bills,

5.316%,

11/14/23 (9)

9,800,000‌

9,738‌

T.

ROWE

PRICE

International

Bond

Fund

18

Par/Shares

$

Value

(Cost

and

value

in

$000s)

U.S.

Treasury

Bills,

5.324%,

10/19/23 (9)

6,315,000‌

6,300‌

16,038‌

Total

Short-Term

Investments

(Cost

$50,188)

50,190‌

SECURITIES

LENDING

COLLATERAL

2.4%

INVESTMENTS

IN

A

POOLED

ACCOUNT

THROUGH

SECURITIES

LENDING

PROGRAM

WITH

JPMORGAN

CHASE

BANK

2.4%

Money

Market

Funds

2.4%

T.

Rowe

Price

Government

Reserve

Fund,

5.40% (7)(8)

22,280,443‌

22,280‌

Total

Investments

in

a

Pooled

Account

through

Securities

Lending

Program

with

JPMorgan

Chase

Bank

22,280‌

Total

Securities

Lending

Collateral

(Cost

$22,280)

22,280‌

Total

Investments

in

Securities

101.6%

(Cost

$1,050,862)

$

944,333‌

Other

Assets

Less

Liabilities

(1.6)%

(14,540)

Net

Assets

100.0%

$

929,793‌

‡

Country

classifications

are

generally

based

on

MSCI

categories

or

another

unaffiliated

third

party

data

provider;

Par/Shares

and

Notional

Amount

are

denominated

in

the

currency

of

the

country

presented

unless

otherwise

noted.

(1)

Security

was

purchased

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933

and

may

be

resold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers.

Total

value

of

such

securities

at

period-end

amounts

to

$61,342

and

represents

6.6%

of

net

assets.

(2)

All

or

a

portion

of

this

security

is

on

loan

at

September

30,

2023.

(3)

Security

is

a

fix-to-float

security,

which

carries

a

fixed

coupon

until

a

certain

date,

upon

which

it

switches

to

a

floating

rate.

Reference

rate

and

spread

are

provided

if

the

rate

is

currently

floating.

(4)

Perpetual

security

with

no

stated

maturity

date.

(5)

Security

has

the

ability

to

pay

in-kind

or

pay

in

cash.

When

applicable,

separate

rates

of

such

payments

are

disclosed.

(6)

Contingent

value

instrument

that

only

pays

out

if

a

portion

of

the

territory's

Sales

and

Use

Tax

outperforms

the

projections

in

the

Oversight

Board’s

Certified

Fiscal

Plan.

(7)

Seven-day

yield

(8)

Affiliated

Companies

(9)

At

September

30,

2023,

all

or

a

portion

of

this

security

is

pledged

as

collateral

and/or

margin

deposit

to

cover

future

funding

obligations.

3M

EURIBOR

Three

month

EURIBOR

(Euro

interbank

offered

rate)

6M

EURIBOR

Six

month

EURIBOR

(Euro

interbank

offered

rate)

6M

PLN

WIBOR

Six

month

PLN

WIBOR

(Warsaw

interbank

offered

rate)

AUD

Australian

Dollar

T.

ROWE

PRICE

International

Bond

Fund

19

.

.

.

.

.

.

.

.

.

.

BRL

Brazilian

Real

CAD

Canadian

Dollar

CHF

Swiss

Franc

CLP

Chilean

Peso

CNH

Offshore

China

Renminbi

COP

Colombian

Peso

CZK

Czech

Koruna

DKK

Danish

Krone

EUR

Euro

FRN

Floating

Rate

Note

GBP

British

Pound

GBP

SONIA

Sterling

Overnight

Index

Average

GO

General

Obligation

HUF

Hungarian

Forint

IDR

Indonesian

Rupiah

ILS

Israeli

Shekel

INR

Indian

Rupee

JPY

Japanese

Yen

KRW

South

Korean

Won

MXIBTIIE

Mexican

Interbank

28

day

interest

rate

MXN

Mexican

Peso

MYR

Malaysian

Ringgit

NOK

Norwegian

Krone

NZD

New

Zealand

Dollar

PEN

Peruvian

New

Sol

PIK

Payment-in-kind

PLN

Polish

Zloty

RON

New

Romanian

Leu

SEK

Swedish

Krona

SGD

Singapore

Dollar

THB

Thai

Baht

TONA

Tokyo

overnight

average

rate

TWD

Taiwan

Dollar

USD

U.S.

Dollar

VR

Variable

Rate;

rate

shown

is

effective

rate

at

period-end.

The

rates

for

certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

based

on

current

market

conditions.

ZAR

South

African

Rand

T.

ROWE

PRICE

International

Bond

Fund

20

(Amounts

in

000s)

SWAPS

(0.8)%

Description

Notional

Amount

$

Value

Upfront

Payments/

$

(Receipts)

Unrealized

$

Gain/(Loss)

BILATERAL

SWAPS

0.0%

Credit

Default

Swaps,

Protection

Sold

0.0%

Greece

0.0%

Bank

of

America,

Protection

Sold

(Relevant

Credit:

Hellenic

Republic,

BB+*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

12/20/24

(USD)

*

3,672

34

(37)

71‌

Bank

of

America,

Protection

Sold

(Relevant

Credit:

Hellenic

Republic,

BB+*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

12/20/29

(USD)

*

1,700

(4)

(53)

49‌

Barclays

Bank,

Protection

Sold

(Relevant

Credit:

Hellenic

Republic,

BB+*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

6/20/24

(USD)

*

380

2

(4)

6‌

Barclays

Bank,

Protection

Sold

(Relevant

Credit:

Hellenic

Republic,

BB+*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

12/20/24

(USD)

*

2,800

26

(4)

30‌

Citibank,

Protection

Sold

(Relevant

Credit:

Hellenic

Republic,

BB+*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

6/20/25

(USD)

*

1,356

15

(26)

41‌

Morgan

Stanley,

Protection

Sold

(Relevant

Credit:

Hellenic

Republic,

BB+*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

12/20/24

(USD)

*

833

8

(1)

9‌

Morgan

Stanley,

Protection

Sold

(Relevant

Credit:

Hellenic

Republic,

BB+*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

6/20/25

(USD)

*

572

6

(9)

15‌

Total

Greece

(134)

221‌

Total

Bilateral

Credit

Default

Swaps,

Protection

Sold

(134)

221‌

Interest

Rate

Swaps

0.0%

China

0.0%

Citibank,

7

Year

Interest

Rate

Swap,

Receive

Fixed

2.650%

Quarterly,

Pay

Variable

1.97%,

(7

Day

Interbank

Repo)

Quarterly,

5/16/30

*

21,812

34

—

34‌

T.

ROWE

PRICE

International

Bond

Fund

21

(Amounts

in

000s)

Description

Notional

Amount

$

Value

Upfront

Payments/

$

(Receipts)

Unrealized

$

Gain/(Loss)

Citibank,

7

Year

Interest

Rate

Swap,

Receive

Fixed

2.650%

Quarterly,

Pay

Variable

2.00%,

(7

Day

Interbank

Repo)

Quarterly,

5/15/30

*

22,021

35

—

35‌

Total

China

—

69‌

Total

Bilateral

Interest

Rate

Swaps

—

69‌

Total

Bilateral

Swaps

(134)

290‌

Description

Notional

Amount

$

Value

Initial

$

Value

**

Unrealized

$

Gain/(Loss)

CENTRALLY

CLEARED

SWAPS

(0.8)%

Credit

Default

Swaps,

Protection

Bought

(0.0)%

Canada

(0.0)%

Protection

Bought

(Relevant

Credit:

Bombardier),

Pay

5.00%

Quarterly,

Receive

upon

credit

default,

6/20/28

(USD)

2,550

(80)

(104)

24‌

Total

Canada

24‌

Foreign/Europe

0.0%

Protection

Bought

(Relevant

Credit:

Lanxess),

Pay

1.00%

Quarterly,

Receive

upon

credit

default,

12/20/28

333

19

15

4‌

Total

Foreign/Europe

4‌

Total

Centrally

Cleared

Credit

Default

Swaps,

Protection

Bought

28‌

Credit

Default

Swaps,

Protection

Sold

0.0%

Greece

0.0%

Protection

Sold

(Relevant

Credit:

Hellenic

Republic,

BB+*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

6/20/26

(USD)

1,600

21

17

4‌

Total

Greece

4‌

Spain

0.0%

Protection

Sold

(Relevant

Credit:

Cellnex

Telecom,

BB+*),

Receive

5.00%

Quarterly,

Pay

upon

credit

default,

12/20/28

300

47

46

1‌

Total

Spain

1‌

Total

Centrally

Cleared

Credit

Default

Swaps,

Protection

Sold

5‌

T.

ROWE

PRICE

International

Bond

Fund

22

(Amounts

in

000s)

Description

Notional

Amount

$

Value

Initial

$

Value**

Unrealized

$

Gain/(Loss)

Interest

Rate

Swaps

(0.8)%

China

0.0%

5

Year

Interest

Rate

Swap,

Receive

Fixed

2.283%

Quarterly,

Pay

Variable

2.200%

(7

Day

Interbank

Repo)

Quarterly,

8/18/28

39,900

(27)

—

(27‌)

5

Year

Interest

Rate

Swap,

Receive

Fixed

2.476%

Quarterly,

Pay

Variable

1.830%

(7

Day

Interbank

Repo)

Quarterly,

6/1/28

29,985

19

—

19‌

5

Year

Interest

Rate

Swap,

Receive

Fixed

2.562%

Quarterly,

Pay

Variable

2.000%

(7

Day

Interbank

Repo)

Quarterly,

5/15/28

6,673

8

—

8‌

5

Year

Interest

Rate

Swap,

Receive

Fixed

2.568%

Quarterly,

Pay

Variable

1.973%

(7

Day

Interbank

Repo)

Quarterly,

5/16/28

22,665

28

—

28‌

5

Year

Interest

Rate

Swap,

Receive

Fixed

2.579%

Quarterly,

Pay

Variable

2.000%

(7

Day

Interbank

Repo)

Quarterly,

5/15/28

28,915

39

—

39‌

Total

China

67‌

Foreign/Europe

(0.7)%

4

Year

Interest

Rate

Swap,

Receive

Fixed

(0.144)%

Annually,

Pay

Variable

3.562%

(6M

EURIBOR)

Semi-Annually,

10/20/25

8,110

(805)

—

(805‌)

5

Year

Interest

Rate

Swap,

Receive

Fixed

3.367%

Annually,

Pay

Variable

4.071%

(6M

EURIBOR)

Semi-Annually,

9/21/28

56,100

(111)

—

(111‌)

7

Year

Interest

Rate

Swap,

Receive

Fixed

2.638%

Annually,

Pay

Variable

3.790%

(6M

EURIBOR)

Semi-Annually,

12/17/29

7,350

(238)

—

(238‌)

10

Year

Interest

Rate

Swap,

Receive

Fixed

0.830%

Annually,

Pay

Variable

3.987%

(6M

EURIBOR)

Semi-Annually,

3/2/32

11,900

(2,297)

—

(2,297‌)

10

Year

Interest

Rate

Swap,

Receive

Fixed

1.222%

Annually,

Pay

Variable

3.341%

(6M

EURIBOR)

Semi-Annually,

4/5/32

9,850

(1,755)

—

(1,755‌)

10

Year

Interest

Rate

Swap,

Receive

Fixed

1.627%

Annually,

Pay

Variable

3.587%

(6M

EURIBOR)

Semi-Annually,

4/21/32

3,623

(527)

—

(527‌)

10

Year

Interest

Rate

Swap,

Receive

Fixed

2.440%

Annually,

Pay

Variable

3.930%

(6M

EURIBOR)

Semi-Annually,

6/30/32

2,200

(171)

—

(171‌)

10

Year

Interest

Rate

Swap,

Receive

Fixed

2.683%

Annually,

Pay

Variable

3.760%

(6M

EURIBOR)

Semi-Annually,

11/30/32

700

(33)

—

(33‌)

T.

ROWE

PRICE

International

Bond

Fund

23

(Amounts

in

000s)

Description

Notional

Amount

$

Value

Initial

$

Value**

Unrealized

$

Gain/(Loss)

10

Year

Interest

Rate

Swap,

Receive

Fixed

2.698%

Annually,

Pay

Variable

3.760%

(6M

EURIBOR)

Semi-Annually,

11/30/32

300

(14)

—

(14‌)

10

Year

Interest

Rate

Swap,

Receive

Fixed

2.702%

Annually,

Pay

Variable

3.714%

(6M

EURIBOR)

Semi-Annually,

11/24/32

843

(37)

1

(38‌)

10

Year

Interest

Rate

Swap,

Receive

Fixed

2.712%

Annually,

Pay

Variable

3.714%

(6M

EURIBOR)

Semi-Annually,

11/24/32

281

(12)

1

(13‌)

10

Year

Interest

Rate

Swap,

Receive

Fixed

2.730%

Annually,

Pay

Variable

3.707%

(6M

EURIBOR)

Semi-Annually,

11/23/32

13,600

(580)

—

(580‌)

10

Year

Interest

Rate

Swap,

Receive

Fixed

2.735%

Annually,

Pay

Variable

3.687%

(6M

EURIBOR)

Semi-Annually,

11/22/32

750

(32)

—

(32‌)

10

Year

Interest

Rate

Swap,

Receive

Fixed

2.796%

Annually,

Pay

Variable

3.663%

(6M

EURIBOR)

Semi-Annually,

11/17/32

473

(18)

—

(18‌)

10

Year

Interest

Rate

Swap,

Receive

Fixed

2.803%

Annually,

Pay

Variable

3.658%

(6M

EURIBOR)

Semi-Annually,

11/18/32

803

(28)

1

(29‌)

10

Year

Interest

Rate

Swap,

Receive

Fixed

3.025%

Annually,

Pay

Variable

3.312%

(6M

EURIBOR)

Semi-Annually,

4/4/33

4,500

(146)

—

(146‌)

30

Year

Interest

Rate

Swap,

Pay

Fixed

2.953%

Annually,

Receive

Variable

4.071%

(6M

EURIBOR)

Semi-Annually,

9/22/53

12,000

337

—

337‌

Total

Foreign/Europe

(6,470‌)

Japan

0.0%

5

Year

Interest

Rate

Swap,

Pay

Fixed

0.418%

Annually,

Receive

Variable

(0.057)%

(JPY

TONA)

Annually,

8/10/28

9,725,400

304

2

302‌

Total

Japan

302‌

Mexico

(0.1)%

7

Year

Interest

Rate

Swap,

Receive

Fixed

5.499%

28

Days,

Pay

Variable

11.499%

(MXIBTIIE)

28

Days,

5/4/27

100,000

(761)

1

(762‌)

Total

Mexico

(762‌)

Poland

0.1%

5

Year

Interest

Rate

Swap,

Pay

Fixed

5.010%

Annually,

Receive

Variable

6.950%

(6M

PLN

WIBOR)

Semi-Annually,

6/30/28

58,600

(177)

—

(177‌)

10

Year

Interest

Rate

Swap,

Pay

Fixed

1.775%

Annually,

Receive

Variable

6.950%

(6M

PLN

WIBOR)

Semi-Annually,

10/22/29

5,882

213

1

212‌

T.

ROWE

PRICE

International

Bond

Fund

24

(Amounts

in

000s)

Description

Notional

Amount

$

Value

Initial

$

Value**

Unrealized

$

Gain/(Loss)

10

Year

Interest

Rate

Swap,

Pay

Fixed

1.780%

Annually,

Receive

Variable

6.950%

(6M

PLN

WIBOR)

Semi-Annually,

10/22/29

4,118

148

—

148‌

10

Year

Interest

Rate

Swap,

Pay

Fixed

1.803%

Annually,

Receive

Variable

6.950%

(6M

PLN

WIBOR)

Semi-Annually,

11/5/29

2,089

74

—

74‌

10

Year

Interest

Rate

Swap,

Pay

Fixed

1.820%

Annually,

Receive

Variable

6.950%

(6M

PLN

WIBOR)

Semi-Annually,

11/5/29

2,089

75

1

74‌

10

Year

Interest

Rate

Swap,

Pay

Fixed

1.860%

Annually,

Receive

Variable

6.950%

(6M

PLN

WIBOR)

Semi-Annually,

11/7/29

2,057

71

—

71‌

10

Year

Interest

Rate

Swap,

Pay

Fixed

3.158%

Annually,

Receive

Variable

6.560%

(6M

PLN

WIBOR)

Semi-Annually,

2/14/28

14,789

141

—

141‌

Total

Poland

543‌

United

Kingdom

(0.1)%

2

Year

Interest

Rate

Swap,

Receive

Fixed

3.955%

Annually,

Pay

Variable

4.578%

(GBP

SONIA)

Annually,

1/27/25

32,152

(869)

—

(869‌)

Total

United

Kingdom

(869‌)

Total

Centrally

Cleared

Interest

Rate

Swaps

(7,189‌)

Total

Centrally

Cleared

Swaps

(7,156‌)

Net

payments

(receipts)

of

variation

margin

to

date

7,695‌

Variation

margin

receivable

(payable)

on

centrally

cleared

swaps

$

539‌

*

Credit

ratings

as

of

September

30,

2023.

Ratings

shown

are

from

Moody’s

Investors

Service

and

if

Moody’s

does

not

rate

a

security,

then

Standard

&

Poor’s

(S&P)

is

used.

Fitch

is

used

for

securities

that

are

not

rated

by

either

Moody’s

or

S&P.

**

Includes

interest

purchased

or

sold

but

not

yet

collected

of

$6.

T.

ROWE

PRICE

International

Bond

Fund

25

(Amounts

in

000s)

FORWARD

CURRENCY

EXCHANGE

CONTRACTS

Counterparty

Settlement

Receive

Deliver

Unrealized

Gain/(Loss)

Bank

of

America

10/6/23

IDR

70,776,754‌

USD

4,716‌

$

(138‌)

Bank

of

America

10/13/23

CZK

144,849‌

USD

6,551‌

(277‌)

Bank

of

America

10/13/23

DKK

23,298‌

USD

3,449‌

(144‌)

Bank

of

America

10/13/23

USD

2,417‌

RON

10,897‌

101‌

Bank

of

America

10/13/23

USD

4,139‌

ZAR

78,830‌

(20‌)

Bank

of

America

10/20/23

CHF

4,166‌

USD

4,555‌

7‌

Bank

of

America

10/20/23

JPY

691,391‌

USD

5,012‌

(368‌)

Bank

of

America

10/20/23

USD

5,353‌

CAD

7,247‌

16‌

Bank

of

America

10/20/23

USD

5,487‌

NZD

8,827‌

197‌

Bank

of

America

11/24/23

USD

6,013‌

GBP

4,723‌

249‌

Bank

of

America

12/8/23

USD

6,069‌

MYR

28,025‌

60‌

Bank

of

America

1/17/24

USD

948‌

KRW

1,269,048‌

4‌

Barclays

Bank

10/6/23

IDR

40,032,174‌

USD

2,612‌

(23‌)

Barclays

Bank

10/6/23

KRW

33,415,339‌

USD

25,595‌

(836‌)

Barclays

Bank

10/6/23

USD

27,721‌

KRW

36,943,438‌

347‌

Barclays

Bank

10/20/23

AUD

1,125‌

USD

730‌

(6‌)

Barclays

Bank

10/20/23

JPY

89,172‌

USD

655‌

(56‌)

Barclays

Bank

11/17/23

USD

4,919‌

PLN

21,152‌

83‌

Barclays

Bank

11/24/23

EUR

1,011‌

USD

1,105‌

(34‌)

Barclays

Bank

11/24/23

USD

1,108‌

GBP

905‌

3‌

Barclays

Bank

12/8/23

USD

3,356‌

INR

278,494‌

16‌

Barclays

Bank

12/15/23

USD

7,258‌

ZAR

138,846‌

(25‌)

Barclays

Bank

1/17/24

KRW

36,943,438‌

USD

27,887‌

(406‌)

BNP

Paribas

10/6/23

KRW

3,466,288‌

USD

2,623‌

(55‌)

BNP

Paribas

10/13/23

HUF

991,919‌

USD

2,811‌

(125‌)

BNP

Paribas

10/13/23

MXN

10,480‌

USD

606‌

(7‌)

BNP

Paribas

10/13/23

USD

3,073‌

RON

13,576‌

189‌

BNP

Paribas

10/20/23

JPY

13,208,920‌

USD

97,114‌

(8,388‌)

BNP

Paribas

10/20/23

USD

985‌

AUD

1,534‌

(2‌)

BNP

Paribas

10/20/23

USD

1,379‌

CAD

1,859‌

10‌

BNP

Paribas

10/20/23

USD

5,024‌

JPY

738,434‌

64‌

BNP

Paribas

11/10/23

CLP

954,772‌

USD

1,110‌

(39‌)

BNP

Paribas

11/10/23

USD

769‌

CLP

672,351‌

14‌

BNP

Paribas

11/17/23

USD

1,762‌

PLN

7,275‌

99‌

BNP

Paribas

11/24/23

EUR

18,265‌

USD

19,986‌

(629‌)

BNP

Paribas

11/24/23

GBP

8,813‌

USD

10,789‌

(32‌)

BNP

Paribas

11/24/23

USD

6,940‌

EUR

6,459‌

95‌

BNP

Paribas

11/24/23

USD

9,333‌

GBP

7,407‌

293‌

BNP

Paribas

12/4/23

USD

2,955‌

BRL

14,620‌

71‌

BNP

Paribas

12/7/23

USD

801‌

COP

3,385,125‌

(14‌)

BNP

Paribas

12/8/23

MYR

2,604‌

USD

558‌

—‌

BNP

Paribas

12/8/23

USD

2,321‌

MYR

10,833‌

(1‌)

BNP

Paribas

12/15/23

USD

3,780‌

CNH

27,559‌

(10‌)

T.

ROWE

PRICE

International

Bond

Fund

26

(Amounts

in

000s)

FORWARD

CURRENCY

EXCHANGE

CONTRACTS

(CONTINUED)

Counterparty

Settlement

Receive

Deliver

Unrealized

Gain/(Loss)

BNY

Mellon

12/15/23

USD

13,590‌

SGD

18,459‌

$

39‌

Canadian

Imperial

Bank

of

Commerce

12/15/23

USD

565‌

SGD

767‌

2‌

Citibank

10/6/23

IDR

58,648,285‌

USD

3,820‌

(27‌)

Citibank

10/6/23

TWD

125,120‌

USD

3,877‌

5‌

Citibank

10/6/23

USD

4,661‌

IDR

69,989,951‌

134‌

Citibank

10/13/23

RON

21,296‌

USD

4,728‌

(203‌)

Citibank

10/13/23

USD

5,938‌

CZK

131,896‌

225‌

Citibank

10/19/23

USD

12,481‌

ILS

46,144‌

372‌

Citibank

10/20/23

AUD

10,260‌

USD

7,021‌

(419‌)

Citibank

10/20/23

USD

2,935‌

JPY

414,045‌

154‌

Citibank

11/10/23

USD

387‌

CLP

331,158‌

15‌

Citibank

11/24/23

EUR

1,388‌

USD

1,472‌

(1‌)

Citibank

11/24/23

USD

154‌

EUR

144‌

1‌

Citibank

11/24/23

USD

1,668‌

GBP

1,367‌

—‌

Citibank

12/7/23

USD

807‌

COP

3,419,318‌

(16‌)

Citibank

12/15/23

CNH

5,404‌

USD

744‌

(1‌)

Citibank

1/17/24

USD

3,900‌

TWD

125,120‌

(11‌)

Deutsche

Bank

10/6/23

USD

3,364‌

TWD

104,238‌

130‌

Deutsche

Bank

10/13/23

CZK

136,539‌

USD

6,256‌

(342‌)

Deutsche

Bank

10/13/23

HUF

2,405,933‌

USD

6,819‌

(305‌)

Deutsche

Bank

10/13/23

USD

5,323‌

CZK

117,535‌

232‌

Deutsche

Bank

10/19/23

ILS

1,199‌

USD

315‌

—‌

Deutsche

Bank

11/24/23

USD

3,140‌

EUR

2,932‌

32‌

Deutsche

Bank

12/8/23

USD

7,199‌

THB

250,305‌

281‌

Goldman

Sachs

10/6/23

IDR

24,743,590‌

USD

1,614‌

(14‌)

Goldman

Sachs

10/6/23

KRW

6,842,678‌

USD

5,169‌

(99‌)

Goldman

Sachs

10/6/23

TWD

67,052‌

USD

2,079‌

1‌

Goldman

Sachs

10/6/23

TWD

40,172‌

USD

1,247‌

(1‌)

Goldman

Sachs

10/6/23

USD

4,086‌

IDR

61,116,410‌

133‌

Goldman

Sachs

10/6/23

USD

1,383‌

IDR

21,462,836‌

(5‌)

Goldman

Sachs

10/6/23

USD

5,920‌

TWD

183,634‌

223‌

Goldman

Sachs

10/20/23

JPY

50,168‌

USD

340‌

(3‌)

Goldman

Sachs

10/20/23

USD

6,630‌

JPY

906,235‌

543‌

Goldman

Sachs

11/24/23

USD

6,023‌

GBP

4,723‌

258‌

Goldman

Sachs

12/4/23

USD

2,277‌

BRL

11,254‌

57‌

Goldman

Sachs

12/8/23

USD

2,418‌

INR

202,195‌

(6‌)

Goldman

Sachs

12/15/23

CNH

120,783‌

USD

16,735‌

(128‌)

Goldman

Sachs

1/17/24

IDR

21,462,836‌

USD

1,380‌

4‌

Goldman

Sachs

1/17/24

USD

3,345‌

TWD

107,224‌

(6‌)

HSBC

Bank

10/6/23

USD

1,359‌

IDR

21,010,449‌

1‌

HSBC

Bank

10/6/23

USD

3,108‌

TWD

96,220‌

123‌

HSBC

Bank

10/13/23

HUF

555,832‌

USD

1,552‌

(47‌)

T.

ROWE

PRICE

International

Bond

Fund

27

(Amounts

in

000s)

FORWARD

CURRENCY

EXCHANGE

CONTRACTS

(CONTINUED)

Counterparty

Settlement

Receive

Deliver

Unrealized

Gain/(Loss)

HSBC

Bank

10/20/23

JPY

572,374‌

USD

3,865‌

$

(20‌)

HSBC

Bank

11/24/23

EUR

14,242‌

USD

15,581‌

(488‌)

HSBC

Bank

12/8/23

THB

50,585‌

USD

1,399‌

(1‌)

HSBC

Bank

12/8/23

USD

21,725‌

MYR

100,667‌

141‌

HSBC

Bank

12/15/23

CNH

19,870‌

USD

2,725‌

7‌

HSBC

Bank

12/15/23

CNH

241,570‌

USD

33,450‌

(235‌)

HSBC

Bank

12/15/23

SGD

2,452‌

USD

1,798‌

2‌

HSBC

Bank

1/17/24

IDR

21,010,449‌

USD

1,358‌

(2‌)

JPMorgan

Chase

10/13/23

CZK

9,897‌

USD

457‌

(28‌)

JPMorgan

Chase

10/13/23

MXN

13,908‌

USD

805‌

(9‌)

JPMorgan

Chase

10/13/23

USD

734‌

MXN

12,829‌

—‌

JPMorgan

Chase

10/20/23

AUD

585‌

USD

378‌

(1‌)

JPMorgan

Chase

10/20/23

CAD

8,086‌

USD

6,144‌

(189‌)

JPMorgan

Chase

10/20/23

JPY

61,693‌

USD

440‌

(25‌)

JPMorgan

Chase

10/20/23

NOK

16,159‌

USD

1,614‌

(102‌)

JPMorgan

Chase

10/20/23

USD

7,882‌

JPY

1,119,912‌

360‌

JPMorgan

Chase

11/24/23

EUR

1,201‌

USD

1,308‌

(35‌)

JPMorgan

Chase

11/24/23

GBP

4,757‌

USD

6,035‌

(230‌)

JPMorgan

Chase

11/24/23

USD

2,419‌

EUR

2,256‌

28‌

JPMorgan

Chase

11/24/23

USD

89‌

EUR

84‌

(1‌)

JPMorgan

Chase

11/24/23

USD

650‌

GBP

529‌

4‌

JPMorgan

Chase

12/7/23

USD

592‌

COP

2,373,021‌

20‌

JPMorgan

Chase

12/8/23

MYR

1,666‌

USD

357‌

—‌

JPMorgan

Chase

12/8/23

USD

618‌

THB

21,558‌

22‌

Morgan

Stanley

10/6/23

TWD

151,748‌

USD

4,748‌

(40‌)

Morgan

Stanley

10/13/23

USD

770‌

MXN

13,370‌

5‌

Morgan

Stanley

11/10/23

CLP

954,772‌

USD

1,110‌

(39‌)

Morgan

Stanley

11/24/23

USD

3,795‌

EUR

3,533‌

51‌

Morgan

Stanley

11/24/23

USD

464‌

EUR

439‌

(1‌)

Morgan

Stanley

11/24/23

USD

1,216‌

GBP

953‌

53‌

Morgan

Stanley

11/24/23

USD

13,029‌

SEK

140,570‌

133‌

Morgan

Stanley

12/8/23

USD

2,336‌

THB

81,648‌

80‌

Morgan

Stanley

12/15/23

CNH

366,251‌

USD

50,570‌

(211‌)

Morgan

Stanley

1/17/24

USD

1,711‌

PEN

6,536‌

(5‌)

RBC

Dominion

Securities

10/13/23

USD

822‌

MXN

14,325‌

2‌

RBC

Dominion

Securities

10/20/23

CAD

31,035‌

USD

23,590‌

(734‌)

RBC

Dominion

Securities

10/20/23

USD

14,051‌

CAD

18,771‌

227‌

RBC

Dominion

Securities

10/20/23

USD

10,388‌

JPY

1,501,247‌

304‌

Standard

Chartered

10/6/23

USD

739‌

KRW

988,850‌

6‌

Standard

Chartered

11/24/23

GBP

1,690‌

USD

2,078‌

(16‌)

Standard

Chartered

12/8/23

MYR

7,738‌

USD

1,661‌

(2‌)

Standard

Chartered

12/15/23

USD

6,795‌

SGD

9,232‌

17‌

State

Street

10/13/23

USD

2,517‌

MXN

43,929‌

2‌

T.

ROWE

PRICE

International

Bond

Fund

28

(Amounts

in

000s)

FORWARD

CURRENCY

EXCHANGE

CONTRACTS

(CONTINUED)

Counterparty

Settlement

Receive

Deliver

Unrealized

Gain/(Loss)

State

Street

10/20/23

AUD

7,445‌

USD

4,824‌

$

(33‌)

State

Street

10/20/23

CAD

15,151‌

USD

11,397‌

(239‌)

State

Street

10/20/23

CHF

8,131‌

USD

9,561‌

(658‌)

State

Street

11/24/23

EUR

19,734‌

USD

21,615‌

(701‌)

State

Street

11/24/23

USD

177‌

EUR

168‌

(1‌)

State

Street

11/24/23

USD

2,862‌

GBP

2,306‌

48‌

State

Street

11/24/23

USD

121‌

GBP

100‌

(1‌)

State

Street

12/8/23

USD

465‌

THB

16,208‌

17‌

UBS

Investment

Bank

10/6/23

USD

1,329‌

IDR

20,621,157‌

(5‌)

UBS

Investment

Bank

10/6/23

USD

4,551‌

KRW

5,792,017‌

259‌

UBS

Investment

Bank

10/6/23

USD

1,126‌

PEN

4,273‌

(2‌)

UBS

Investment

Bank

10/13/23

HUF

161,964‌

USD

452‌

(14‌)

UBS

Investment

Bank

10/13/23

USD

1,158‌

CZK

26,504‌

10‌

UBS

Investment

Bank

10/13/23

USD

2,529‌

HUF

911,567‌

61‌

UBS

Investment

Bank

10/13/23

USD

4,630‌

MXN

79,533‌

78‌

UBS

Investment

Bank

10/13/23

USD

4,837‌

RON

22,503‌

56‌

UBS

Investment

Bank

10/20/23

USD

9,612‌

CHF

8,351‌

468‌

UBS

Investment

Bank

10/20/23

USD

11,754‌

JPY

1,663,195‌

582‌

UBS

Investment

Bank

11/17/23

PLN

29,974‌

USD

6,902‌

(50‌)

UBS

Investment

Bank

11/17/23

USD

9,992‌

PLN

41,995‌

392‌

UBS

Investment

Bank

11/24/23

EUR

804‌

USD

851‌

1‌

UBS

Investment

Bank

11/24/23

USD

4,092‌

EUR

3,818‌

45‌

UBS

Investment

Bank

11/24/23

USD

345‌

EUR

325‌

—‌

UBS

Investment

Bank

11/24/23

USD

6,074‌

GBP

4,762‌

263‌

UBS

Investment

Bank

12/7/23

USD

1,637‌

COP

6,872,830‌

(18‌)

UBS

Investment

Bank

12/8/23

THB

19,138‌

USD

527‌

2‌

UBS

Investment

Bank

12/8/23

USD

8,742‌

THB

302,791‌

375‌

UBS

Investment

Bank

1/17/24

IDR

20,621,157‌

USD

1,327‌

3‌

UBS

Investment

Bank

1/17/24

USD

5,557‌

PEN

6,023‌

(2‌)

Wells

Fargo

10/6/23

PEN

4,273‌

USD

1,168‌

(40‌)

Net

unrealized

gain

(loss)

on

open

forward

currency

exchange

contracts

$

(8,440‌)

T.

ROWE

PRICE

International

Bond

Fund

29

FUTURES

CONTRACTS

($000s)

Expiration

Date

Notional

Amount

Value

and

Unrealized

Gain

(Loss)

Short,

95

Commonwealth

of

Australia

ten

year

bond

contracts

12/23

(6,839)

$

173‌

Long,

56

Commonwealth

of

Australia

three

year

bond

contracts

12/23

3,793

(21‌)

Short,

36

Euro

BOBL

contracts

12/23

(4,406)

35‌

Short,

96

Euro

BUND

contracts

12/23

(13,056)

359‌

Long,

18

Euro

BUXL

thirty

year

bond

contracts

12/23

2,329

(188‌)

Long,

26

Euro

SCHATZ

contracts

12/23

2,886

2‌

Short,

48

Government

of

Canada

ten

year

bond

contracts

12/23

(4,069)

105‌

Short,

18

Government

of

Japan

ten

year

bond

contracts

12/23

(17,460)

116‌

Long,

318

Republic

of

South

Korea

ten

year

bond

contracts

12/23

25,428

(218‌)

Short,

226

Republic

of

South

Korea

three

year

bond

contracts

12/23

(17,259)

8‌

Short,

29

U.K.

Gilt

ten

year

contracts

12/23

(3,332)

17‌

Short,

113

U.S.

Treasury

Notes

five

year

contracts

12/23

(11,906)

100‌

Short,

74

U.S.

Treasury

Notes

ten

year

contracts

12/23

(7,997)

138‌

Short,

52

Ultra

U.S.

Treasury

Notes

ten

year

contracts

12/23

(5,801)

162‌

Net

payments

(receipts)

of

variation

margin

to

date

(970‌)

Variation

margin

receivable

(payable)

on

open

futures

contracts

$

(182‌)

T.

ROWE

PRICE

International

Bond

Fund

30

The

accompanying

notes

are

an

integral

part

of

this

Portfolio

of

Investments.

AFFILIATED

COMPANIES

($000s)

The

fund

may

invest

in

certain

securities

that

are

considered

affiliated

companies.

As

defined

by

the

1940

Act,

an

affiliated

company

is

one

in

which

the

fund

owns

5%

or

more

of

the

outstanding

voting

securities,

or

a

company

that

is

under

common

ownership

or

control.

The

following

securities

were

considered

affiliated

companies

for

all

or

some

portion

of

the

nine

months

ended

September

30,

2023.

Net

realized

gain

(loss),

investment

income,

change

in

net

unrealized

gain/loss,

and

purchase

and

sales

cost

reflect

all

activity

for

the

period

then

ended.

Affiliate

Net

Realized

Gain

(Loss)

Change

in

Net

Unrealized

Gain/Loss

Investment

Income

T.

Rowe

Price

Government

Reserve

Fund,

5.40%

$

—‌

$

—‌

$

908‌++

Totals

$

—‌#

$

—‌

$

908‌+

Supplementary

Investment

Schedule

Affiliate

Value

12/31/22

Purchase

Cost

Sales

Cost

Value

09/30/23

T.

Rowe

Price

Government

Reserve

Fund,

5.40%

$

57,376‌

 ¤

 ¤

$

56,432‌

Total

$

56,432‌^

#

Capital

gain

distributions

from

underlying

Price

funds

represented

$0

of

the

net

realized

gain

(loss).

++

Excludes

earnings

on

securities

lending

collateral,

which

are

subject

to

rebates

and

fees.

+

Investment

income

comprised

$908

of

dividend

income

and

$0

of

interest

income.

¤

Purchase

and

sale

information

not

shown

for

cash

management

funds.

^

The

cost

basis

of

investments

in

affiliated

companies

was

$56,432.

T.

ROWE

PRICE

International

Bond

Fund

Unaudited

Notes

to

Portfolio

of

Investments

31

T.

Rowe

Price

International

Bond

Fund (the

fund) is

registered

under

the

Investment

Company

Act

of

1940

(the

1940

Act)

as

an

open-end

management

investment

company

and

follows

accounting

and

reporting

guidance

of

the

Financial

Accounting

Standards

Board

Accounting

Standards

Codification

Topic

946.

The

accompanying

Portfolio

of

Investments

was

prepared

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

(GAAP).

For

additional

information

on

the

fund’s

significant

accounting

policies

and

investment

related

disclosures,

please

refer

to

the

fund’s most

recent

semiannual

or

annual

shareholder

report

and

its

prospectus. 

VALUATION 

Fair

Value

  The

fund’s

financial

instruments

are

valued

at

the

close

of

the

New

York

Stock

Exchange

(NYSE),

normally

4

p.m.

ET,

each

day

the

NYSE

is

open

for

business,

and

are

reported

at

fair

value,

which

GAAP

defines

as

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date. The fund’s

Board

of

Directors

(the

Board)

has

designated

T.

Rowe

Price

Associates,

Inc.

as

the

fund’s

valuation

designee

(Valuation

Designee).

Subject

to

oversight

by

the

Board,

the

Valuation

Designee

performs

the

following

functions

in

performing

fair

value

determinations:

assesses

and

manages

valuation

risks;

establishes

and

applies

fair

value

methodologies;

tests

fair

value

methodologies;

and

evaluates

pricing

vendors

and

pricing

agents.

The

duties

and

responsibilities

of

the

Valuation

Designee

are

performed

by

its

Valuation

Committee. The

Valuation

Designee provides

periodic

reporting

to

the

Board

on

valuation

matters.

Various

valuation

techniques

and

inputs

are

used

to

determine

the

fair

value

of

financial

instruments.

GAAP

establishes

the

following

fair

value

hierarchy

that

categorizes

the

inputs

used

to

measure

fair

value:

Level

1

–

quoted

prices

(unadjusted)

in

active

markets

for

identical

financial

instruments

that

the

fund

can

access

at

the

reporting

date

Level

2

–

inputs

other

than

Level

1

quoted

prices

that

are

observable,

either

directly

or

indirectly

(including,

but

not

limited

to,

quoted

prices

for

similar

financial

instruments

in

active

markets,

quoted

prices

for

identical

or

similar

financial

instruments

in

inactive

markets,

interest

rates

and

yield

curves,

implied

volatilities,

and

credit

spreads)

Level

3

–

unobservable

inputs

(including

the Valuation

Designee’s assumptions

in

determining

fair

value)

T.

ROWE

PRICE

International

Bond

Fund

32

Observable

inputs

are

developed

using

market

data,

such

as

publicly

available

information

about

actual

events

or

transactions,

and

reflect

the

assumptions

that

market

participants

would

use

to

price

the

financial

instrument.

Unobservable

inputs

are

those

for

which

market

data

are

not

available

and

are

developed

using

the

best

information

available

about

the

assumptions

that

market

participants

would

use

to

price

the

financial

instrument.

GAAP

requires

valuation

techniques

to

maximize

the

use

of

relevant

observable

inputs

and

minimize

the

use

of

unobservable

inputs.

When

multiple

inputs

are

used

to

derive

fair

value,

the

financial

instrument

is

assigned

to

the

level

within

the

fair

value

hierarchy

based

on

the

lowest-level

input

that

is

significant

to

the

fair

value

of

the

financial

instrument.

Input

levels

are

not

necessarily

an

indication

of

the

risk

or

liquidity

associated

with

financial

instruments

at

that

level

but

rather

the

degree

of

judgment

used

in

determining

those

values.

Valuation

Techniques 

Debt

securities

generally

are

traded

in

the over-the-counter

(OTC)

market

and

are

valued

at

prices

furnished

by

independent

pricing

services

or

by

broker

dealers

who

make

markets

in

such

securities.

When

valuing

securities,

the

independent

pricing

services

consider

factors

such

as,

but

not

limited

to,

the

yield

or

price

of

bonds

of

comparable

quality,

coupon,

maturity,

and

type,

as

well

as

prices

quoted

by

dealers

who

make

markets

in

such

securities.   

Investments

denominated

in

foreign

currencies

are

translated

into

U.S.

dollar

values

each

day

at

the

prevailing

exchange

rate,

using

the

mean

of

the

bid

and

asked

prices

of

such

currencies

against

U.S.

dollars

as

provided

by

an

outside

pricing

service.

Investments

in

mutual

funds

are

valued

at

the

mutual

fund’s

closing

NAV

per

share

on

the

day

of

valuation.

Futures

contracts

are

valued

at

closing

settlement

prices.

Forward

currency

exchange

contracts

are

valued

using

the

prevailing

forward

exchange

rate.

Swaps

are

valued

at

prices

furnished

by

an

independent

pricing

service

or

independent

swap

dealers.

Investments

for

which

market

quotations are

not

readily

available

or

deemed

unreliable

are

valued

at

fair

value

as

determined

in

good

faith

by

the

Valuation

Designee.

The

Valuation

Designee

has

adopted

methodologies

for

determining

the

fair

value

of

investments

for

which

market

quotations

are

not

readily

available

or

deemed

unreliable,

including

the

use

of

other

pricing

sources.

Factors

used

in

determining

fair

value

vary

by

type

of

investment

and

may

include

market

or

investment

specific

considerations.

The

Valuation

Designee typically

will

afford

greatest

weight

to

actual

prices

in

arm’s

length

transactions,

to

the

extent

they

represent

orderly

transactions

between

market

participants,

transaction

information

can

be

reliably

obtained,

and

prices

are

deemed

representative

of

fair

value.

However,

the

Valuation

Designee may

also

consider

other

valuation

methods

such

as

market-based

valuation

multiples;

a

discount

or

premium

T.

ROWE

PRICE

International

Bond

Fund

33

from

market

value

of

a

similar,

freely

traded

security

of

the

same

issuer;

discounted

cash

flows;

yield

to

maturity;

or

some

combination.

Fair

value

determinations

are

reviewed

on

a

regular

basis.

Because

any

fair

value

determination

involves

a

significant

amount

of

judgment,

there

is

a

degree

of

subjectivity

inherent

in

such

pricing

decisions. Fair

value

prices

determined

by

the

Valuation

Designee could

differ

from

those

of

other

market

participants,

and

it

is

possible

that

the

fair

value

determined

for

a

security

may

be

materially

different

from

the

value

that

could

be

realized

upon

the

sale

of

that

security.

Valuation

Inputs

  The

following

table

summarizes

the

fund’s

financial

instruments,

based

on

the

inputs

used

to

determine

their

fair

values

on

September

30,

2023

(for

further

detail

by

category,

please

refer

to

the

accompanying

Portfolio

of

Investments):

T.

ROWE

PRICE

International

Bond

Fund

34

OTHER

MATTERS 

Unpredictable

events

such

as

environmental

or

natural

disasters,

war,

terrorism,

pandemics,

outbreaks

of

infectious

diseases,

and

similar

public

health

threats

may

significantly

affect

the

economy

and

the

markets

and

issuers

in

which

the fund

invests.

Certain

events

may

cause

instability

across

global

markets,

including

reduced

liquidity

and

disruptions

in

trading

markets,

while

some

events

may

affect

certain

geographic

regions,

countries,

sectors,

and

industries

more

significantly

than

others,

and

exacerbate

other

pre-existing

political,

social,

and

economic

risks.

($000s)

Level

1

Level

2

Level

3

Total

Value

Assets

Fixed

Income

Securities

1

$

—‌

$

871,863‌

$

—‌

$

871,863‌

Short-Term

Investments

34,152‌

16,038‌

—‌

50,190‌

Securities

Lending

Collateral

22,280‌

—‌

—‌

22,280‌

Total

Securities

56,432‌

887,901‌

—‌

944,333‌

Swaps*

—‌

1,646‌

—‌

1,646‌

Forward

Currency

Exchange

Contracts

—‌

9,007‌

—‌

9,007‌

Futures

Contracts*

1,215‌

—‌

—‌

1,215‌

Total

$

57,647‌

$

898,554‌

$

—‌

$

956,201‌

Liabilities

Swaps*

$

—‌

$

8,646‌

$

—‌

$

8,646‌

Forward

Currency

Exchange

Contracts

—‌

17,447‌

—‌

17,447‌

Futures

Contracts*

427‌

—‌

—‌

427‌

Total

$

427‌

$

26,093‌

$

—‌

$

26,520‌

1

Includes

Asset-Backed

Securities,

Convertible

Bonds,

Corporate

Bonds,

Government

Bonds

and

Municipal

Securities.

*

The

fair

value

presented

includes

cumulative

gain

(loss)

on

open

futures

contracts

and

centrally

cleared

swaps;

however,

the

net

value

reflected

on

the

accompanying

Portfolio

of

Investments

is

only

the

unsettled

variation

margin

receivable

(payable)

at

that

date.

T.

ROWE

PRICE

International

Bond

Fund

35

Since

2020,

a

novel

strain

of

coronavirus

(COVID-19)

has

resulted

in

disruptions

to

global

business

activity

and

caused

significant

volatility

and

declines

in

global

financial

markets.

In

February

2022,

Russian

forces

entered

Ukraine

and

commenced

an

armed

conflict

leading

to

economic

sanctions

being

imposed

on

Russia

and

certain

of

its

citizens,

creating

impacts

on

Russian-related

stocks

and

debt

and

greater

volatility

in

global

markets.

In

March

2023,

the

collapse

of

some

US

regional

and

global

banks

as

well

as

overall

concerns

around

the

soundness

and

stability

of

the

global

banking

sector

has

sparked

concerns

of

a

broader

financial

crisis

impacting

the

overall

global

banking

sector.

In

certain

cases,

government

agencies

have

assumed

control

or

otherwise

intervened

in

the

operations

of

certain

banks

due

to

liquidity

and

solvency

concerns.

The

extent

of

impact

of

these

events

on

the

US

and

global

markets

is

highly

uncertain.

These

are

recent

examples

of

global

events

which

may

have

a

negative

impact

on

the

values

of

certain

portfolio

holdings

or

the

fund’s

overall

performance.

Management

is

actively

monitoring

the

risks

and

financial

impacts

arising

from

these

events.

F76-054Q3

09/23