T.

ROWE

PRICE

International

Bond

Fund

March

31,

2024

(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%,

6/16/27

(EUR) (1)

720,000‌

756‌

Republic

of

Albania,

3.50%,

11/23/31

(EUR) (1)

1,780,000‌

1,730‌

Republic

of

Albania,

5.90%,

6/9/28

(EUR) (1)

2,640,000‌

2,932‌

Total

Albania

(Cost

$5,592

)

5,418‌

AUSTRALIA

3.7%

Corporate

Bonds

1.1%

APA

Infrastructure,

2.00%,

3/22/27

(EUR) 

410,000‌

422‌

APA

Infrastructure,

3.50%,

3/22/30

(GBP) 

940,000‌

1,067‌

AusNet

Services

Holdings,

1.50%,

2/26/27

(EUR) 

415,000‌

423‌

Brambles

Finance,

4.25%,

3/22/31

(EUR) 

1,430,000‌

1,614‌

NBN,

4.125%,

3/15/29

(EUR) 

1,910,000‌

2,133‌

Sydney

Airport

Finance,

1.75%,

4/26/28

(EUR) 

415,000‌

419‌

Sydney

Airport

Finance,

4.375%,

5/3/33

(EUR) 

1,355,000‌

1,532‌

Transurban

Finance,

1.75%,

3/29/28

(EUR) 

415,000‌

420‌

Transurban

Finance,

3.00%,

4/8/30

(EUR) 

1,900,000‌

1,991‌

10,021‌

Government

Bonds

2.6%

Commonwealth

of

Australia,

Series

140,

4.50%,

4/21/33 

23,559,000‌

15,968‌

Commonwealth

of

Australia,

Series

150,

3.00%,

3/21/47 

4,710,000‌

2,461‌

New

South

Wales

Treasury,

Series

26,

4.00%,

5/20/26 

9,397,400‌

6,128‌

24,557‌

Total

Australia

(Cost

$38,372

)

34,578‌

AUSTRIA

0.5%

Corporate

Bonds

0.1%

Mondi

Finance

Europe,

2.375%,

4/1/28 

395,000‌

410‌

410‌

Government

Bonds

0.4%

Republic

of

Austria,

0.75%,

3/20/51 (1)

6,290,000‌

4,007‌

4,007‌

Total

Austria

(Cost

$4,323

)

4,417‌

BELGIUM

0.1%

Corporate

Bonds

0.1%

Anheuser-Busch

InBev

,

1.15%,

1/22/27 

410,000‌

418‌

T.

ROWE

PRICE

International

Bond

Fund

2

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Anheuser-Busch

InBev

,

1.65%,

3/28/31 

300,000‌

292‌

Total

Belgium

(Cost

$712

)

710‌

BRAZIL

1.5%

Corporate

Bonds

0.3%

Braskem

Netherlands

Finance,

4.50%,

1/10/28

(USD) 

450,000‌

405‌

Braskem

Netherlands

Finance,

4.50%,

1/31/30

(USD) 

1,325,000‌

1,140‌

MercadoLibre

,

3.125%,

1/14/31

(USD) 

1,380,000‌

1,156‌

2,701‌

Government

Bonds

1.2%

Brazil

Notas

do

Tesouro

Nacional,

Series

NTNF,

10.00%,

1/1/27 

17,395,000‌

3,455‌

Brazil

Notas

do

Tesouro

Nacional,

Series

NTNF,

10.00%,

1/1/31 

16,640,000‌

3,193‌

Brazil

Notas

do

Tesouro

Nacional,

Series

NTNF,

10.00%,

1/1/35 

26,052,000‌

4,884‌

11,532‌

Total

Brazil

(Cost

$14,320

)

14,233‌

BULGARIA

1.3%

Government

Bonds

1.3%

Republic

of

Bulgaria,

4.375%,

5/13/31

(EUR) 

2,635,000‌

3,017‌

Republic

of

Bulgaria,

4.50%,

1/27/33

(EUR) (2)

3,310,000‌

3,805‌

Republic

of

Bulgaria,

4.50%,

1/27/33

(EUR) (1)

1,420,000‌

1,632‌

Republic

of

Bulgaria,

4.875%,

5/13/36

(EUR) 

2,928,000‌

3,440‌

Total

Bulgaria

(Cost

$10,927

)

11,894‌

CANADA

4.1%

Asset-Backed

Securities

0.1%

Cologix

Canadian

Issuer,

Series

2022-1CAN,

Class

A2,

4.94%,

1/25/52 (1)

1,690,000‌

1,158‌

1,158‌

Corporate

Bonds

0.8%

Magna

International,

1.50%,

9/25/27

(EUR) 

415,000‌

421‌

Royal

Bank

of

Canada,

4.125%,

7/5/28

(EUR) 

375,000‌

415‌

TER

Finance

Jersey,

Series

21,

Zero

Coupon,

1/2/25

(USD) (1)

2,700,000‌

2,573‌

Toronto-Dominion

Bank,

2.551%,

8/3/27

(EUR) 

400,000‌

420‌

Transcanada

Trust,

Series

17-B,

VR,

4.65%,

5/18/77 (3)

4,481,000‌

3,096‌

6,925‌

Government

Bonds

3.2%

Government

of

Canada,

Series

0318,

4.00%,

3/1/29 

14,092,000‌

10,619‌

Government

of

Canada,

Series

0929,

3.25%,

12/1/33 

12,860,000‌

9,323‌

T.

ROWE

PRICE

International

Bond

Fund

3

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Government

of

Canada

Real

Return

Bond,

Inflation-Indexed,

Series

CPI,

4.00%,

12/1/31 

11,315,253‌

9,763‌

Province

of

Ontario,

3.50%,

6/2/43 

996,000‌

652‌

30,357‌

Total

Canada

(Cost

$41,041

)

38,440‌

CHILE

0.5%

Corporate

Bonds

0.4%

Corp

Nacional

del

Cobre

de

Chile,

6.30%,

9/8/53

(USD) (1)

1,950,000‌

1,953‌

Interchile

,

4.50%,

6/30/56

(USD) 

1,700,000‌

1,385‌

3,338‌

Government

Bonds

0.1%

Republic

of

Chile,

4.125%,

7/5/34

(EUR) 

1,100,000‌

1,191‌

1,191‌

Total

Chile

(Cost

$4,542

)

4,529‌

CHINA

5.3%

Corporate

Bonds

0.2%

State

Grid

Overseas

Investment

BVI,

1.375%,

5/2/25

(EUR) (1)

2,000,000‌

2,098‌

2,098‌

Government

Bonds

5.1%

China

Development

Bank,

Series

1905,

3.48%,

1/8/29 

30,000,000‌

4,356‌

People's

Republic

of

China,

Series

INBK,

2.60%,

9/1/32 

110,000,000‌

15,431‌

People's

Republic

of

China,

Series

INBK,

2.69%,

8/15/32 

70,000,000‌

9,884‌

People's

Republic

of

China,

Series

INBK,

3.02%,

5/27/31 

11,000,000‌

1,587‌

People's

Republic

of

China,

Series

INBK,

3.32%,

4/15/52 

17,000,000‌

2,669‌

People's

Republic

of

China,

Series

INBK,

3.53%,

10/18/51 

30,000,000‌

4,867‌

People's

Republic

of

China,

Series

1908,

4.00%,

6/24/69 

10,000,000‌

1,855‌

People's

Republic

of

China,

Series

1915,

3.13%,

11/21/29 

50,000,000‌

7,227‌

47,876‌

Total

China

(Cost

$49,126

)

49,974‌

COLOMBIA

1.0%

Government

Bonds

1.0%

Republic

of

Colombia,

Series

B,

6.00%,

4/28/28 

9,493,400,000‌

2,186‌

Republic

of

Colombia,

Series

B,

7.00%,

3/26/31 

17,280,000,000‌

3,853‌

Republic

of

Colombia,

Series

B,

13.25%,

2/9/33 

12,127,600,000‌

3,694‌

Total

Colombia

(Cost

$7,904

)

9,733‌

T.

ROWE

PRICE

International

Bond

Fund

4

Par/Shares

$

Value

(Cost

and

value

in

$000s)

CYPRUS

0.5%

Government

Bonds

0.5%

Republic

of

Cyprus,

0.95%,

1/20/32 

3,426,000‌

3,160‌

Republic

of

Cyprus,

1.50%,

4/16/27 

425,000‌

438‌

Republic

of

Cyprus,

2.75%,

2/26/34 

547,000‌

568‌

Republic

of

Cyprus,

2.75%,

5/3/49 (2)

642,000‌

592‌

Total

Cyprus

(Cost

$5,970

)

4,758‌

CZECH

REPUBLIC

0.6%

Corporate

Bonds

0.2%

Ceska

sporitelna

,

VR,

5.737%,

3/8/28

(EUR) (3)

1,700,000‌

1,898‌

1,898‌

Government

Bonds

0.4%

Republic

of

Czech,

Series

103,

2.00%,

10/13/33 

88,190,000‌

3,200‌

Republic

of

Czech,

Series

125,

1.50%,

4/24/40 

33,570,000‌

1,012‌

4,212‌

Total

Czech

Republic

(Cost

$6,209

)

6,110‌

DENMARK

0.8%

Corporate

Bonds

0.8%

Carlsberg

Breweries,

0.375%,

6/30/27

(EUR) 

430,000‌

422‌

Carlsberg

Breweries,

0.875%,

7/1/29

(EUR) 

845,000‌

806‌

Danske

Bank,

VR,

0.75%,

6/9/29

(EUR) (3)

560,000‌

535‌

Danske

Bank,

VR,

1.375%,

2/17/27

(EUR) (3)

500,000‌

515‌

Danske

Bank,

VR,

1.375%,

2/12/30

(EUR) (3)

775,000‌

813‌

Danske

Bank,

VR,

4.50%,

11/9/28

(EUR) (3)

380,000‌

420‌

Orsted

,

4.875%,

1/12/32

(GBP) 

910,000‌

1,132‌

TDC

Net,

5.056%,

5/31/28

(EUR) 

365,000‌

404‌

TDC

Net,

5.618%,

2/6/30

(EUR) 

2,345,000‌

2,603‌

Total

Denmark

(Cost

$7,565

)

7,650‌

EGYPT

0.4%

Government

Bonds

0.4%

Arab

Republic

of

Egypt,

Treasury

Bills,

Series

364D,

24.998%,

6/25/24 

38,000,000‌

759‌

Arab

Republic

of

Egypt,

Treasury

Bills,

Series

364D,

30.00%,

9/17/24 

68,650,000‌

1,289‌

T.

ROWE

PRICE

International

Bond

Fund

5

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Arab

Republic

of

Egypt,

Treasury

Bills,

Series

364D,

31.25%,

12/10/24 

119,400,000‌

2,129‌

Total

Egypt

(Cost

$4,027

)

4,177‌

ESTONIA

0.6%

Government

Bonds

0.6%

Republic

of

Estonia,

3.25%,

1/17/34 

5,150,000‌

5,505‌

Total

Estonia

(Cost

$5,603

)

5,505‌

FINLAND

0.1%

Corporate

Bonds

0.1%

Elisa,

0.25%,

9/15/27 

435,000‌

422‌

Metso

,

0.875%,

5/26/28 

440,000‌

428‌

Total

Finland

(Cost

$867

)

850‌

FRANCE

4.3%

Corporate

Bonds

2.0%

Altice

France,

5.875%,

2/1/27 (1)

375,000‌

312‌

Banijay

Entertainment,

7.00%,

5/1/29 (1)

175,000‌

198‌

Banque

Federative

du

Credit

Mutuel

,

1.25%,

5/26/27 

500,000‌

505‌

Banque

Federative

du

Credit

Mutuel

,

1.375%,

7/16/28 

500,000‌

497‌

Banque

Federative

du

Credit

Mutuel

,

3.125%,

9/14/27 

400,000‌

427‌

Banque

Federative

du

Credit

Mutuel

,

5.125%,

1/13/33 

900,000‌

1,032‌

Banque

Stellantis

France,

4.00%,

1/21/27 

400,000‌

436‌

BNP

Paribas,

VR,

2.125%,

1/23/27 (3)

1,000,000‌

1,048‌

BNP

Paribas,

VR,

3.875%,

1/10/31 (3)

1,000,000‌

1,103‌

BPCE,

0.25%,

1/14/31 

1,100,000‌

961‌

BPCE,

3.50%,

1/25/28 

900,000‌

974‌

Credit

Agricole

,

1.00%,

9/16/24 

1,400,000‌

1,490‌

Credit

Agricole

,

1.875%,

12/20/26 

1,100,000‌

1,139‌

Credit

Agricole

Assurances,

VR,

2.625%,

1/29/48 (3)

1,000,000‌

1,011‌

Electricite

de

France,

6.125%,

6/2/34

(GBP) 

1,200,000‌

1,562‌

EssilorLuxottica

,

0.375%,

11/27/27 

400,000‌

392‌

Holding

d'Infrastructures

de

Transport,

1.475%,

1/18/31 

1,300,000‌

1,216‌

IPD

3,

8.00%,

6/15/28 (1)

305,000‌

348‌

Loxam

,

6.375%,

5/15/28 

645,000‌

722‌

Orange,

3.25%,

1/15/32

(GBP) 

1,100,000‌

1,260‌

RTE

Reseau

de

Transport

d'Electricite

SADIR,

0.75%,

1/12/34 

1,100,000‌

933‌

Veolia

Environnement

,

1.25%,

4/2/27 

1,000,000‌

1,014‌

Veolia

Environnement

,

1.94%,

1/7/30 

500,000‌

498‌

19,078‌

T.

ROWE

PRICE

International

Bond

Fund

6

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Government

Bonds

2.3%

Republic

of

France,

1.25%,

5/25/36 (1)

10,350,000‌

9,267‌

Republic

of

France,

3.00%,

5/25/33 (1)

3,300,000‌

3,628‌

Republic

of

France,

3.00%,

5/25/54 (1)

8,118,000‌

8,303‌

21,198‌

Total

France

(Cost

$43,071

)

40,276‌

GERMANY

6.9%

Corporate

Bonds

1.7%

Allianz,

VR,

3.375% (3)(4)

2,300,000‌

2,463‌

Daimler

Truck

International

Finance,

1.625%,

4/6/27 

400,000‌

409‌

E.ON

International

Finance,

6.25%,

6/3/30

(GBP) 

1,865,000‌

2,525‌

Fresenius,

1.625%,

10/8/27 (2)

415,000‌

421‌

Fresenius,

5.00%,

11/28/29 

1,200,000‌

1,364‌

Gruenenthal

,

3.625%,

11/15/26 (1)

200,000‌

211‌

Gruenenthal

,

6.75%,

5/15/30 (1)

100,000‌

114‌

Gruenenthal

,

6.75%,

5/15/30 

600,000‌

684‌

Hannover

Rueck

,

1.125%,

4/18/28 

400,000‌

408‌

Hannover

Rueck

,

VR,

1.125%,

10/9/39 (3)

1,900,000‌

1,758‌

Hannover

Rueck

,

VR,

1.75%,

10/8/40 (3)

900,000‌

843‌

Knorr-

Bremse

,

3.25%,

9/21/27 (2)

400,000‌

430‌

ProGroup

,

5.375%,

4/15/31 (1)

430,000‌

463‌

TK

Elevator

Midco

,

4.375%,

7/15/27 (1)

490,000‌

508‌

Volkswagen

Bank,

4.375%,

5/3/28 

400,000‌

441‌

Volkswagen

Financial

Services,

0.375%,

2/12/30 

1,625,000‌

1,460‌

Volkswagen

International

Finance,

Series

10Y,

1.875%,

3/30/27 

200,000‌

205‌

Volkswagen

Leasing,

1.50%,

6/19/26 

1,630,000‌

1,677‌

16,384‌

Government

Bonds

5.2%

Bundesobligation

,

Series

184,

0.00%,

10/9/26 

12,654,000‌

12,792‌

Bundesrepublik

Deutschland

Bundesanleihe

,

0.00%,

2/15/30 

16,037,000‌

15,190‌

Bundesrepublik

Deutschland

Bundesanleihe

,

4.75%,

7/4/40 

2,987,000‌

4,201‌

Deutsche

Bundesrepublik

,

Inflation-Indexed,

0.50%,

4/15/30 

14,670,207‌

16,044‌

KfW

,

4.70%,

6/2/37

(CAD) 

924,000‌

704‌

48,931‌

Total

Germany

(Cost

$64,776

)

65,315‌

GREECE

0.4%

Government

Bonds

0.4%

Hellenic

Republic,

0.75%,

6/18/31 (1)

3,809,000‌

3,492‌

Total

Greece

(Cost

$4,586

)

3,492‌

T.

ROWE

PRICE

International

Bond

Fund

7

Par/Shares

$

Value

(Cost

and

value

in

$000s)

HUNGARY

1.6%

Corporate

Bonds

0.1%

OTP

Bank,

VR,

7.35%,

3/4/26

(EUR) (3)

910,000‌

1,004‌

1,004‌

Government

Bonds

1.5%

Magyar

Export-Import

Bank,

6.00%,

5/16/29

(EUR) 

670,000‌

765‌

Republic

of

Hungary,

5.00%,

2/22/27

(EUR) 

1,557,000‌

1,735‌

Republic

of

Hungary,

Series

33/A,

2.25%,

4/20/33 

6,130,440,000‌

11,872‌

14,372‌

Total

Hungary

(Cost

$17,501

)

15,376‌

ICELAND

0.6%

Corporate

Bonds

0.2%

Landsbankinn

,

0.375%,

5/23/25

(EUR) 

1,675,000‌

1,726‌

1,726‌

Government

Bonds

0.4%

Republic

of

Iceland,

0.00%,

4/15/28

(EUR) 

2,249,000‌

2,134‌

Republic

of

Iceland,

3.50%,

3/21/34

(EUR) 

1,283,000‌

1,406‌

3,540‌

Total

Iceland

(Cost

$5,985

)

5,266‌

INDIA

1.4%

Corporate

Bonds

0.2%

ABJA

Investment,

5.95%,

7/31/24

(USD) 

1,200,000‌

1,198‌

State

Bank

of

India,

4.875%,

5/5/28

(USD) 

825,000‌

818‌

2,016‌

Government

Bonds

1.2%

Republic

of

India,

6.54%,

1/17/32 

338,480,000‌

3,937‌

Republic

of

India,

7.26%,

8/22/32 

602,040,000‌

7,295‌

11,232‌

Total

India

(Cost

$13,207

)

13,248‌

INDONESIA

2.8%

Corporate

Bonds

0.0%

Minejesa

Capital,

5.625%,

8/10/37

(USD) 

400,000‌

364‌

364‌

T.

ROWE

PRICE

International

Bond

Fund

8

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Government

Bonds

2.8%

Republic

of

Indonesia,

3.75%,

6/14/28

(EUR) 

6,942,000‌

7,530‌

Republic

of

Indonesia,

Series

FR86,

5.50%,

4/15/26 

73,160,000,000‌

4,544‌

Republic

of

Indonesia,

Series

FR91,

6.375%,

4/15/32 

11,860,000,000‌

735‌

Republic

of

Indonesia,

Series

FR95,

6.375%,

8/15/28 

69,495,000,000‌

4,361‌

Republic

of

Indonesia,

Series

FR96,

7.00%,

2/15/33 

140,127,000,000‌

9,033‌

26,203‌

Total

Indonesia

(Cost

$27,491

)

26,567‌

IRELAND

0.2%

Corporate

Bonds

0.1%

Smurfit

Kappa

Treasury,

1.50%,

9/15/27 

420,000‌

422‌

422‌

Government

Bonds

0.1%

Republic

of

Ireland,

1.50%,

5/15/50 

522,000‌

410‌

Republic

of

Ireland,

2.00%,

2/18/45 

848,000‌

775‌

1,185‌

Total

Ireland

(Cost

$2,262

)

1,607‌

ISRAEL

0.4%

Corporate

Bonds

0.1%

Bank

Hapoalim

,

VR,

3.255%,

1/21/32

(USD) (1)(3)

1,280,000‌

1,140‌

1,140‌

Government

Bonds

0.3%

State

of

Israel,

1.50%,

1/18/27

(EUR) 

3,044,000‌

3,046‌

3,046‌

Total

Israel

(Cost

$4,568

)

4,186‌

ITALY

3.9%

Corporate

Bonds

0.9%

Aeroporti

di

Roma,

1.625%,

6/8/27 

405,000‌

416‌

Autostrade

per

l'Italia

,

1.625%,

1/25/28 

425,000‌

425‌

Autostrade

per

l'Italia

,

2.00%,

12/4/28 

990,000‌

988‌

Autostrade

per

l'Italia

,

2.00%,

1/15/30 

1,067,000‌

1,042‌

CA

Auto

Bank,

0.50%,

9/13/24 

1,000,000‌

1,062‌

CA

Auto

Bank,

4.75%,

1/25/27 

380,000‌

419‌

Inter

Media

and

Communication,

6.75%,

2/9/27 

920,000‌

970‌

Intesa

Sanpaolo,

1.75%,

7/4/29 

1,515,000‌

1,494‌

Italgas

,

1.625%,

1/19/27 

405,000‌

416‌

T.

ROWE

PRICE

International

Bond

Fund

9

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Lottomatica

,

FRN,

3M

EURIBOR

+

4.125%,

8.067%,

6/1/28 (1)

185,000‌

201‌

Snam

,

0.875%,

10/25/26 

1,165,000‌

1,179‌

8,612‌

Government

Bonds

3.0%

Italy

Buoni

Poliennali

Del

Tesoro,

Series

10Y,

4.40%,

5/1/33 

14,464,000‌

16,649‌

Italy

Buoni

Poliennali

Del

Tesoro,

Series

50Y,

2.80%,

3/1/67 

5,796,000‌

4,732‌

Italy

Buoni

Poliennali

Del

Tesoro,

Series

CPI,

1.30%,

5/15/28 (1)

6,096,212‌

6,625‌

28,006‌

Total

Italy

(Cost

$38,027

)

36,618‌

IVORY

COAST

0.3%

Government

Bonds

0.3%

Republic

of

Ivory

Coast,

5.875%,

10/17/31

(EUR) 

2,915,000‌

2,912‌

Total

Ivory

Coast

(Cost

$2,674

)

2,912‌

JAPAN

15.4%

Government

Bonds

15.4%

Government

of

Japan,

Series

16,

1.30%,

3/20/63 

1,695,800,000‌

9,434‌

Government

of

Japan,

Series

19,

Inflation-Indexed,

0.10%,

9/10/24 

1,590,827,000‌

10,597‌

Government

of

Japan,

Series

20,

Inflation-Indexed,

0.10%,

3/10/25 

1,731,660,800‌

11,616‌

Government

of

Japan,

Series

26,

Inflation-Indexed,

0.005%,

3/10/31 

1,265,871,992‌

8,955‌

Government

of

Japan,

Series

27,

Inflation-Indexed,

0.005%,

3/10/32 

768,740,000‌

5,424‌

Government

of

Japan,

Series

28,

Inflation-Indexed,

0.005%,

3/10/33 

296,406,100‌

2,084‌

Government

of

Japan,

Series

44,

1.70%,

9/20/44 

1,740,150,000‌

11,953‌

Government

of

Japan,

Series

73,

0.70%,

12/20/51 

53,700,000‌

277‌

Government

of

Japan,

Series

74,

1.00%,

3/20/52 

1,665,550,000‌

9,286‌

Government

of

Japan,

Series

75,

1.30%,

6/20/52 

1,516,250,000‌

9,099‌

Government

of

Japan,

Series

76,

1.40%,

9/20/52 

1,860,800,000‌

11,429‌

Government

of

Japan,

Series

338,

0.40%,

3/20/25 

2,089,800,000‌

13,853‌

Government

of

Japan

Treasury

Bills,

Series

1205,

(0.121)%,

7/10/24 

663,000,000‌

4,379‌

Government

of

Japan

Treasury

Bills,

Series

1211,

(0.085)%,

8/13/24 

3,529,900,000‌

23,315‌

Government

of

Japan

Treasury

Bills,

Series

1221,

(0.065)%,

7/1/24 

2,079,500,000‌

13,739‌

Total

Japan

(Cost

$170,787

)

145,440‌

T.

ROWE

PRICE

International

Bond

Fund

10

Par/Shares

$

Value

(Cost

and

value

in

$000s)

KUWAIT

0.1%

Corporate

Bonds

0.1%

MEGlobal

,

2.625%,

4/28/28

(USD) (1)

1,485,000‌

1,326‌

Total

Kuwait

(Cost

$1,488

)

1,326‌

LATVIA

1.5%

Government

Bonds

1.5%

Republic

of

Latvia,

0.375%,

10/7/26

(EUR) 

11,633,000‌

11,735‌

Republic

of

Latvia,

3.875%,

5/22/29

(EUR) 

2,070,000‌

2,292‌

Total

Latvia

(Cost

$15,449

)

14,027‌

LITHUANIA

0.9%

Corporate

Bonds

0.0%

PLT

VII

Finance,

4.625%,

1/5/26 (1)

200,000‌

216‌

216‌

Government

Bonds

0.9%

Republic

of

Lithuania,

3.50%,

2/13/34 

2,430,000‌

2,608‌

Republic

of

Lithuania,

3.875%,

6/14/33 

5,040,000‌

5,616‌

8,224‌

Total

Lithuania

(Cost

$8,160

)

8,440‌

LUXEMBOURG

0.5%

Corporate

Bonds

0.5%

Albion

Financing

1,

5.25%,

10/15/26 

600,000‌

652‌

Altice

Financing,

4.25%,

8/15/29 (1)

365,000‌

320‌

Blackstone

Property

Partners

Europe

Holdings,

1.75%,

3/12/29 

1,700,000‌

1,591‌

Logicor

Financing,

0.875%,

1/14/31 

1,115,000‌

955‌

Logicor

Financing,

1.50%,

7/13/26 

1,075,000‌

1,090‌

Total

Luxembourg

(Cost

$5,096

)

4,608‌

MACAO

0.2%

Corporate

Bonds

0.2%

Melco

Resorts

Finance,

4.875%,

6/6/25

(USD) 

795,000‌

776‌

Sands

China,

4.05%,

1/8/26

(USD) 

787,000‌

759‌

Total

Macao

(Cost

$1,535

)

1,535‌

T.

ROWE

PRICE

International

Bond

Fund

11

Par/Shares

$

Value

(Cost

and

value

in

$000s)

MALAYSIA

3.2%

Government

Bonds

3.2%

Government

of

Malaysia,

Series

0119,

3.906%,

7/15/26 

27,570,000‌

5,887‌

Government

of

Malaysia,

Series

0120,

4.065%,

6/15/50 

18,478,000‌

3,833‌

Government

of

Malaysia,

Series

0123,

4.457%,

3/31/53 

6,670,000‌

1,471‌

Government

of

Malaysia,

Series

0216,

4.736%,

3/15/46 

63,031,000‌

14,675‌

Government

of

Malaysia,

Series

0316,

3.90%,

11/30/26 

3,990,000‌

854‌

Government

of

Malaysia,

Series

0318,

4.642%,

11/7/33 

15,499,000‌

3,478‌

Total

Malaysia

(Cost

$31,368

)

30,198‌

MEXICO

2.5%

Corporate

Bonds

0.3%

America

Movil

,

5.75%,

6/28/30

(GBP) 

1,070,000‌

1,419‌

BBVA

Bancomer

,

VR,

5.125%,

1/18/33

(USD) (3)

435,000‌

404‌

Bimbo

Bakeries

USA,

6.05%,

1/15/29

(USD) (1)

1,375,000‌

1,424‌

3,247‌

Government

Bonds

2.2%

Petroleos

Mexicanos

,

4.75%,

2/26/29

(EUR) 

2,185,000‌

1,988‌

Petroleos

Mexicanos

,

4.875%,

2/21/28

(EUR) 

2,700,000‌

2,571‌

United

Mexican

States,

Series

M,

7.50%,

5/26/33 

144,734,000‌

7,757‌

United

Mexican

States,

Series

M,

8.50%,

5/31/29 

21,234,000‌

1,237‌

United

Mexican

States,

Series

M,

8.50%,

11/18/38 

120,387,000‌

6,734‌

20,287‌

Total

Mexico

(Cost

$22,471

)

23,534‌

MONTENEGRO

0.2%

Government

Bonds

0.2%

Kingdom

of

Montenegro,

7.25%,

3/12/31

(USD) (1)

2,170,000‌

2,211‌

Total

Montenegro

(Cost

$2,190

)

2,211‌

MOROCCO

0.2%

Government

Bonds

0.2%

Kingdom

of

Morocco,

1.375%,

3/30/26

(EUR) 

1,937,000‌

1,984‌

Total

Morocco

(Cost

$2,018

)

1,984‌

T.

ROWE

PRICE

International

Bond

Fund

12

Par/Shares

$

Value

(Cost

and

value

in

$000s)

NETHERLANDS

1.1%

Corporate

Bonds

1.1%

Boost

Newco

Borrower,

8.50%,

1/15/31

(GBP) (1)

100,000‌

136‌

ING

Groep

,

VR,

0.375%,

9/29/28 (3)

400,000‌

385‌

ING

Groep

,

VR,

1.25%,

2/16/27 (3)

1,500,000‌

1,543‌

LeasePlan

,

VR,

7.375% (3)(4)

1,500,000‌

1,619‌

Nationale-Nederlanden

Bank,

0.375%,

2/26/25 

1,000,000‌

1,045‌

NN

Group,

1.625%,

6/1/27 

405,000‌

415‌

Sartorius

Finance,

4.50%,

9/14/32 

1,300,000‌

1,475‌

Summer

BidCo

,

10.00%,

2/15/29,

(10.00%

Cash

or

10.75%

PIK) (1)(5)

100,000‌

109‌

TenneT

Holding,

2.00%,

6/5/34 

2,100,000‌

2,023‌

Universal

Music

Group,

3.00%,

6/30/27 

390,000‌

417‌

VZ

Secured

Financing,

3.50%,

1/15/32 (2)

600,000‌

570‌

Wolters

Kluwer,

1.50%,

3/22/27 

410,000‌

420‌

Ziggo

,

2.875%,

1/15/30 

510,000‌

485‌

Total

Netherlands

(Cost

$10,843

)

10,642‌

NEW

ZEALAND

1.1%

Corporate

Bonds

0.1%

Chorus,

3.625%,

9/7/29

(EUR) 

1,290,000‌

1,394‌

1,394‌

Government

Bonds

1.0%

New

Zealand

Government

Bond,

Series

0433,

3.50%,

4/14/33 

14,136,000‌

7,788‌

New

Zealand

Government

Bond,

Series

0551,

2.75%,

5/15/51 

3,327,000‌

1,353‌

9,141‌

Total

New

Zealand

(Cost

$10,949

)

10,535‌

NORTH

MACEDONIA

0.1%

Government

Bonds

0.1%

Republic

of

North

Macedonia,

6.96%,

3/13/27

(EUR) (1)

860,000‌

973‌

Total

North

Macedonia

(Cost

$912

)

973‌

NORWAY

0.2%

Corporate

Bonds

0.2%

Avinor

,

0.75%,

10/1/30

(EUR) 

1,750,000‌

1,620‌

Total

Norway

(Cost

$1,575

)

1,620‌

T.

ROWE

PRICE

International

Bond

Fund

13

Par/Shares

$

Value

(Cost

and

value

in

$000s)

PERU

0.8%

Corporate

Bonds

0.1%

Banco

de

Credito

del

Peru,

VR,

3.125%,

7/1/30

(USD) (3)

975,000‌

934‌

934‌

Government

Bonds

0.7%

Republic

of

Peru,

5.40%,

8/12/34 

30,425,000‌

7,047‌

7,047‌

Total

Peru

(Cost

$7,890

)

7,981‌

PHILIPPINES

0.1%

Government

Bonds

0.1%

Republic

of

Philippines,

0.25%,

4/28/25

(EUR) 

910,000‌

942‌

Total

Philippines

(Cost

$1,093

)

942‌

POLAND

0.3%

Corporate

Bonds

0.0%

InPost

,

2.25%,

7/15/27

(EUR) (1)

365,000‌

369‌

369‌

Government

Bonds

0.3%

Republic

of

Poland,

Series

1033,

6.00%,

10/25/33 

10,950,000‌

2,854‌

2,854‌

Total

Poland

(Cost

$3,145

)

3,223‌

PORTUGAL

0.3%

Corporate

Bonds

0.3%

Banco

Comercial

Portugues

,

VR,

1.125%,

2/12/27 (3)

1,000,000‌

1,023‌

Banco

Comercial

Portugues

,

VR,

1.75%,

4/7/28 (3)

600,000‌

608‌

Banco

Comercial

Portugues

,

VR,

6.888%,

12/7/27 (3)

1,200,000‌

1,364‌

Total

Portugal

(Cost

$2,874

)

2,995‌

QATAR

0.2%

Corporate

Bonds

0.2%

QNB

Finance,

2.75%,

2/12/27

(USD) 

2,200,000‌

2,059‌

Total

Qatar

(Cost

$2,117

)

2,059‌

T.

ROWE

PRICE

International

Bond

Fund

14

Par/Shares

$

Value

(Cost

and

value

in

$000s)

ROMANIA

0.3%

Corporate

Bonds

0.3%

Banca

Transilvania

,

VR,

8.875%,

4/27/27

(EUR) (3)

1,935,000‌

2,217‌

RCS

&

RDS,

3.25%,

2/5/28

(EUR) (2)

1,100,000‌

1,108‌

Total

Romania

(Cost

$3,188

)

3,325‌

SAUDI

ARABIA

0.1%

Government

Bonds

0.1%

Saudi

Arabian

Oil,

4.25%,

4/16/39

(USD) (2)

1,000,000‌

877‌

Total

Saudi

Arabia

(Cost

$929

)

877‌

SENEGAL

0.2%

Government

Bonds

0.2%

Republic

of

Senegal,

5.375%,

6/8/37

(EUR) 

2,910,000‌

2,290‌

Total

Senegal

(Cost

$2,189

)

2,290‌

SERBIA

1.5%

Corporate

Bonds

0.1%

United

Group,

4.625%,

8/15/28

(EUR) (1)

650,000‌

673‌

673‌

Government

Bonds

1.4%

Republic

of

Serbia,

1.00%,

9/23/28

(EUR) (1)

4,900,000‌

4,499‌

Republic

of

Serbia,

1.50%,

6/26/29

(EUR) (1)

1,890,000‌

1,725‌

Republic

of

Serbia,

1.50%,

6/26/29

(EUR) 

2,060,000‌

1,880‌

Republic

of

Serbia,

1.65%,

3/3/33

(EUR) 

2,090,000‌

1,690‌

Republic

of

Serbia,

2.05%,

9/23/36

(EUR) (1)

607,000‌

460‌

Republic

of

Serbia,

2.05%,

9/23/36

(EUR) 

925,000‌

701‌

Republic

of

Serbia,

3.125%,

5/15/27

(EUR) 

2,250,000‌

2,337‌

13,292‌

Total

Serbia

(Cost

$16,073

)

13,965‌

SINGAPORE

1.8%

Government

Bonds

1.8%

Government

of

Singapore,

0.50%,

11/1/25 

7,340,000‌

5,189‌

Government

of

Singapore,

1.625%,

7/1/31 

8,331,000‌

5,581‌

Government

of

Singapore,

2.375%,

6/1/25 

3,960,000‌

2,892‌

T.

ROWE

PRICE

International

Bond

Fund

15

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Government

of

Singapore,

2.875%,

7/1/29 

4,874,000‌

3,575‌

Total

Singapore

(Cost

$16,901

)

17,237‌

SLOVENIA

0.8%

Government

Bonds

0.8%

Republic

of

Slovenia,

Series

RS74,

1.50%,

3/25/35 (2)

1,805,000‌

1,668‌

Republic

of

Slovenia,

Series

RS76,

3.125%,

8/7/45 

3,533,000‌

3,688‌

Republic

of

Slovenia,

Series

RS77,

2.25%,

3/3/32 (2)

900,000‌

928‌

Republic

of

Slovenia,

Series

RS86,

0.00%,

2/12/31 

955,000‌

849‌

Total

Slovenia

(Cost

$8,217

)

7,133‌

SOUTH

AFRICA

0.1%

Corporate

Bonds

0.1%

Anglo

American

Capital,

3.375%,

3/11/29

(GBP) 

850,000‌

989‌

Total

South

Africa

(Cost

$937

)

989‌

SOUTH

KOREA

0.4%

Corporate

Bonds

0.4%

NongHyup

Bank,

4.875%,

7/3/28

(USD) (1)

1,940,000‌

1,934‌

Shinhan

Bank,

4.50%,

4/12/28

(USD) (1)

2,090,000‌

2,056‌

Total

South

Korea

(Cost

$4,017

)

3,990‌

SPAIN

2.8%

Corporate

Bonds

1.4%

Banco

Bilbao

Vizcaya

Argentaria,

3.375%,

9/20/27 

1,400,000‌

1,509‌

Banco

Bilbao

Vizcaya

Argentaria,

VR,

5.75%,

9/15/33 (3)

400,000‌

454‌

Banco

de

Sabadell,

VR,

0.875%,

6/16/28 (3)

1,100,000‌

1,083‌

Banco

de

Sabadell,

VR,

5.00%,

6/7/29 (3)

400,000‌

452‌

Banco

de

Sabadell,

VR,

5.125%,

11/10/28 (3)

900,000‌

1,016‌

Banco

Santander,

1.125%,

1/17/25 (2)

1,000,000‌

1,056‌

CaixaBank

,

3.75%,

9/7/29 

600,000‌

661‌

CaixaBank

,

VR,

0.75%,

5/26/28 (3)

400,000‌

395‌

CaixaBank

,

VR,

6.25%,

2/23/33 (3)

400,000‌

456‌

Cellnex

Telecom,

1.75%,

10/23/30 (2)

2,200,000‌

2,110‌

Cirsa

Finance

International,

7.875%,

7/31/28 (1)

760,000‌

866‌

Inmobiliaria

Colonial

Socimi

,

1.625%,

11/28/25 

1,500,000‌

1,561‌

Lorca

Telecom

Bondco

,

4.00%,

9/18/27 

1,500,000‌

1,572‌

13,191‌

T.

ROWE

PRICE

International

Bond

Fund

16

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Government

Bonds

1.4%

Kingdom

of

Spain,

0.00%,

1/31/28 

10,972,000‌

10,640‌

Kingdom

of

Spain,

1.90%,

10/31/52 (1)

3,254,000‌

2,413‌

13,053‌

Total

Spain

(Cost

$25,828

)

26,244‌

SRI

LANKA

0.4%

Government

Bonds

0.4%

Republic

of

Sri

Lanka,

11.00%,

6/1/26 

171,000,000‌

568‌

Republic

of

Sri

Lanka,

Series

A,

11.40%,

1/15/27 

185,000,000‌

616‌

Republic

of

Sri

Lanka,

Series

A,

11.50%,

8/1/26 

179,000,000‌

600‌

Republic

of

Sri

Lanka,

Series

A,

20.00%,

9/15/27 

235,000,000‌

957‌

Republic

of

Sri

Lanka,

Treasury

Bills,

Series

364,

21.75%,

4/5/24 

381,000,000‌

1,267‌

Total

Sri

Lanka

(Cost

$3,568

)

4,008‌

SWEDEN

1.3%

Corporate

Bonds

0.4%

Autoliv

,

4.25%,

3/15/28

(EUR) 

375,000‌

412‌

Electrolux,

4.50%,

9/29/28

(EUR) 

380,000‌

416‌

Skandinaviska

Enskilda

Banken

,

0.375%,

6/21/28

(EUR) 

450,000‌

425‌

Tele2,

0.75%,

3/23/31

(EUR) 

610,000‌

560‌

Tele2,

2.125%,

5/15/28

(EUR) 

405,000‌

414‌

Verisure

Holding,

3.875%,

7/15/26

(EUR) (1)

260,000‌

276‌

Verisure

Holding,

9.25%,

10/15/27

(EUR) 

600,000‌

692‌

3,195‌

Government

Bonds

0.9%

Kingdom

of

Sweden,

Series

1056,

2.25%,

6/1/32 

51,940,000‌

4,821‌

Kingdom

of

Sweden,

Inflation-Indexed,

Series

3111,

0.125%,

6/1/32 

45,357,732‌

3,981‌

8,802‌

Total

Sweden

(Cost

$12,528

)

11,997‌

SWITZERLAND

0.4%

Corporate

Bonds

0.4%

ABB

Finance,

3.25%,

1/16/27

(EUR) 

380,000‌

411‌

ABB

Finance,

3.375%,

1/16/31

(EUR) 

700,000‌

765‌

Holcim

Finance

Luxembourg,

2.25%,

5/26/28

(EUR) 

405,000‌

418‌

UBS

Group,

VR,

2.875%,

4/2/32

(EUR) (3)

1,115,000‌

1,128‌

T.

ROWE

PRICE

International

Bond

Fund

17

Par/Shares

$

Value

(Cost

and

value

in

$000s)

UBS

Group,

VR,

7.75%,

3/1/29

(EUR) (3)

1,200,000‌

1,476‌

Total

Switzerland

(Cost

$3,925

)

4,198‌

THAILAND

1.9%

Corporate

Bonds

0.1%

Bangkok

Bank,

VR,

3.733%,

9/25/34

(USD) (3)

1,340,000‌

1,196‌

1,196‌

Government

Bonds

1.8%

Kingdom

of

Thailand,

2.00%,

12/17/31 

295,073,000‌

7,861‌

Kingdom

of

Thailand,

3.45%,

6/17/43 

114,750,000‌

3,347‌

Kingdom

of

Thailand,

3.65%,

6/20/31 

204,042,000‌

6,022‌

17,230‌

Total

Thailand

(Cost

$19,876

)

18,426‌

UNITED

KINGDOM

5.6%

Corporate

Bonds

3.2%

Barclays,

VR,

0.577%,

8/9/29

(EUR) (3)

820,000‌

769‌

Barclays,

VR,

0.877%,

1/28/28

(EUR) (3)

1,225,000‌

1,221‌

Barclays,

VR,

5.262%,

1/29/34

(EUR) (3)

460,000‌

535‌

Barclays,

VR,

6.369%,

1/31/31 (3)

790,000‌

1,038‌

Bellis

Acquisition,

3.25%,

2/16/26 (1)

450,000‌

536‌

Deuce

Finco

,

5.50%,

6/15/27 (1)

345,000‌

412‌

Heathrow

Funding,

2.75%,

10/13/29 

1,390,000‌

1,572‌

HSBC

Holdings,

VR,

4.752%,

3/10/28

(EUR) (3)

1,830,000‌

2,032‌

Jerrold

Finco

,

5.25%,

1/15/27 

600,000‌

722‌

Kane

Bidco

,

5.00%,

2/15/27

(EUR) (2)

1,455,000‌

1,512‌

Legal

&

General

Group,

VR,

5.375%,

10/27/45 (3)

525,000‌

658‌

London

Stock

Exchange

Group,

1.75%,

12/6/27

(EUR) 

410,000‌

420‌

Marks

&

Spencer,

6.00%,

6/12/25 

450,000‌

569‌

Motion

Finco

,

7.375%,

6/15/30

(EUR) (1)

1,085,000‌

1,220‌

National

Grid

Electricity

Distribution

East

Midlands,

3.53%,

9/20/28

(EUR) 

390,000‌

422‌

Nationwide

Building

Society,

VR,

2.00%,

7/25/29

(EUR) (3)

950,000‌

1,015‌

NatWest

Group,

VR,

0.67%,

9/14/29

(EUR) (3)

850,000‌

805‌

NatWest

Group,

VR,

0.78%,

2/26/30

(EUR) (3)

365,000‌

343‌

NatWest

Group,

VR,

1.043%,

9/14/32

(EUR) (3)

850,000‌

820‌

Next

Group,

3.625%,

5/18/28 

1,787,000‌

2,154‌

Next

Group,

4.375%,

10/2/26 

540,000‌

670‌

Reckitt

Benckiser

Treasury

Services,

3.875%,

9/14/33

(EUR) 

865,000‌

948‌

Santander

U.K.

Group

Holdings,

VR,

0.603%,

9/13/29

(EUR) (3)

1,050,000‌

989‌

Santander

U.K.

Group

Holdings,

VR,

2.421%,

1/17/29 (3)

530,000‌

598‌

Santander

U.K.

Group

Holdings,

VR,

3.53%,

8/25/28

(EUR) (3)

800,000‌

858‌

T.

ROWE

PRICE

International

Bond

Fund

18

Par/Shares

$

Value

(Cost

and

value

in

$000s)

Severn

Trent

Utilities

Finance,

4.625%,

11/30/34 

960,000‌

1,156‌

Smiths

Group,

2.00%,

2/23/27

(EUR) 

400,000‌

413‌

Standard

Chartered,

VR,

2.50%,

9/9/30

(EUR) (3)

1,200,000‌

1,260‌

Tesco

Corporate

Treasury

Services,

0.875%,

5/29/26

(EUR) 

1,000,000‌

1,019‌

Tesco

Corporate

Treasury

Services,

2.75%,

4/27/30 

950,000‌

1,067‌

Vmed

O2

U.K.

Financing

I,

4.50%,

7/15/31 (1)

1,095,000‌

1,175‌

Vmed

O2

U.K.

Financing

I,

4.50%,

7/15/31 

750,000‌

805‌

29,733‌

Government

Bonds

2.4%

United

Kingdom

Gilt,

0.625%,

7/31/35 

3,931,000‌

3,452‌

United

Kingdom

Gilt,

0.625%,

10/22/50 

14,398,000‌

7,583‌

United

Kingdom

Gilt,

4.25%,

12/7/46 

9,612,792‌

11,881‌

22,916‌

Total

United

Kingdom

(Cost

$55,067

)

52,649‌

UNITED

STATES

5.6%

Corporate

Bonds

5.4%

AbbVie,

2.125%,

11/17/28

(EUR) (2)

410,000‌

422‌

AbbVie,

2.625%,

11/15/28

(EUR) 

995,000‌

1,046‌

American

Honda

Finance,

0.75%,

11/25/26

(GBP) 

796,000‌

910‌

American

Honda

Finance,

1.95%,

10/18/24

(EUR) 

847,000‌

905‌

AT&T,

3.95%,

4/30/31

(EUR) 

2,300,000‌

2,555‌

Athene

Global

Funding,

0.832%,

1/8/27

(EUR) 

1,045,000‌

1,039‌

Bank

of

America,

VR,

1.662%,

4/25/28

(EUR) (3)

410,000‌

418‌

Becton

Dickinson

&

Company,

3.02%,

5/24/25

(GBP) 

1,018,000‌

1,250‌

Becton

Dickinson

&

Company,

3.519%,

2/8/31

(EUR) 

583,000‌

630‌

Becton

Dickinson

Euro

Finance,

0.334%,

8/13/28

(EUR) 

450,000‌

427‌

Becton

Dickinson

Euro

Finance,

1.213%,

2/12/36

(EUR) 

408,000‌

340‌

Berkshire

Hathaway

Finance,

1.50%,

3/18/30

(EUR) 

1,020,000‌

1,001‌

Capital

One

Financial,

1.65%,

6/12/29

(EUR) (2)

2,100,000‌

2,010‌

Carrier

Global,

4.125%,

5/29/28

(EUR) 

380,000‌

419‌

Comcast,

0.00%,

9/14/26

(EUR) 

1,000,000‌

993‌

Dana

Financing

Luxembourg,

8.50%,

7/15/31

(EUR) (1)

464,000‌

551‌

Dow

Chemical,

0.50%,

3/15/27

(EUR) 

430,000‌

425‌

Encore

Capital

Group,

4.875%,

10/15/25

(EUR) (1)

540,000‌

577‌

Encore

Capital

Group,

5.375%,

2/15/26

(GBP) (1)(2)

910,000‌

1,118‌

Equitable

Financial

Life

Global

Funding,

0.60%,

6/16/28

(EUR) 

445,000‌

425‌

FedEx,

1.625%,

1/11/27

(EUR) 

415,000‌

426‌

Fiserv,

1.625%,

7/1/30

(EUR) 

100,000‌

96‌

Fiserv,

3.00%,

7/1/31

(GBP) 

1,000,000‌

1,114‌

Fiserv,

4.50%,

5/24/31

(EUR) 

1,760,000‌

1,981‌

Ford

Motor

Credit,

4.867%,

8/3/27

(EUR) 

1,425,000‌

1,582‌

Ford

Motor

Credit,

5.125%,

2/20/29

(EUR) 

650,000‌

734‌

T.

ROWE

PRICE

International

Bond

Fund

19

Par/Shares

$

Value

(Cost

and

value

in

$000s)

General

Motors

Financial,

0.85%,

2/26/26

(EUR) 

1,000,000‌

1,024‌

Goldman

Sachs

Group,

1.625%,

7/27/26

(EUR) 

1,204,000‌

1,246‌

Goldman

Sachs

Group,

VR,

3.625%,

10/29/29

(GBP) (3)

545,000‌

649‌

Graphic

Packaging

International,

2.625%,

2/1/29

(EUR) (1)

625,000‌

624‌

Harley-Davidson

Financial

Services,

5.125%,

4/5/26

(EUR) 

1,370,000‌

1,514‌

Highland

Holdings,

0.318%,

12/15/26

(EUR) 

765,000‌

758‌

JPMorgan

Chase,

1.50%,

10/29/26

(EUR) 

1,300,000‌

1,341‌

JPMorgan

Chase,

VR,

1.638%,

5/18/28

(EUR) (3)

415,000‌

423‌

Medtronic

Global

Holdings,

0.375%,

10/15/28

(EUR) 

554,000‌

528‌

Metropolitan

Life

Global

Funding,

5.00%,

1/10/30

(GBP) 

650,000‌

837‌

Mondelez

International,

0.25%,

3/17/28

(EUR) 

1,960,000‌

1,881‌

Mondelez

International,

1.625%,

3/8/27

(EUR) 

405,000‌

417‌

Mondelez

International

Holdings

Netherlands,

0.25%,

9/9/29

(EUR) (1)

689,000‌

635‌

Morgan

Stanley,

VR,

0.406%,

10/29/27

(EUR) (3)

1,269,000‌

1,263‌

Morgan

Stanley,

VR,

0.495%,

10/26/29

(EUR) (3)

2,120,000‌

1,992‌

Morgan

Stanley,

VR,

5.148%,

1/25/34

(EUR) (3)

400,000‌

477‌

Netflix,

3.625%,

5/15/27

(EUR) 

390,000‌

424‌

Netflix,

3.875%,

11/15/29

(EUR) 

975,000‌

1,074‌

Prologis,

2.25%,

6/30/29

(GBP) 

1,252,000‌

1,395‌

Thermo

Fisher

Scientific,

0.875%,

10/1/31

(EUR) 

955,000‌

872‌

Thermo

Fisher

Scientific,

2.375%,

4/15/32

(EUR) 

156,000‌

158‌

Thermo

Fisher

Scientific

Finance

I,

0.80%,

10/18/30

(EUR) 

593,000‌

551‌

Upjohn

Finance,

1.362%,

6/23/27

(EUR) 

420,000‌

419‌

Upjohn

Finance,

1.908%,

6/23/32

(EUR) 

880,000‌

799‌

Utah

Acquisition,

3.125%,

11/22/28

(EUR) 

995,000‌

1,044‌

Verizon

Communications,

1.30%,

5/18/33

(EUR) 

835,000‌

747‌

Verizon

Communications,

2.625%,

12/1/31

(EUR) 

750,000‌

766‌

VF,

4.125%,

3/7/26

(EUR) 

669,000‌

713‌

VF,

4.25%,

3/7/29

(EUR) 

695,000‌

737‌

Wells

Fargo,

1.00%,

2/2/27

(EUR) 

420,000‌

422‌

Westlake,

1.625%,

7/17/29

(EUR) 

1,680,000‌

1,625‌

50,749‌

Municipal

Securities

0.2%

Puerto

Rico

Commonwealth,

GO,

VR,

11/1/43 (6)

3,679,010‌

2,126‌

2,126‌

Total

United

States

(Cost

$55,196

)

52,875‌

SHORT-TERM

INVESTMENTS

3.1%

Money

Market

Funds

1.5%

T.

Rowe

Price

Government

Reserve

Fund,

5.39% (7)(8)

14,647,654‌

14,648‌

14,648‌

T.

ROWE

PRICE

International

Bond

Fund

20

Par/Shares

$

Value

(Cost

and

value

in

$000s)

U.S.

Treasury

Obligations

1.6%

U.S.

Treasury

Bills,

5.277%,

4/11/24 (9)

14,600,000‌

14,579‌

14,579‌

Total

Short-Term

Investments

(Cost

$29,227)

29,227‌

SECURITIES

LENDING

COLLATERAL

1.5%

INVESTMENTS

IN

A

POOLED

ACCOUNT

THROUGH

SECURITIES

LENDING

PROGRAM

WITH

JPMORGAN

CHASE

BANK

1.5%

Money

Market

Funds

1.5%

T.

Rowe

Price

Government

Reserve

Fund,

5.39% (7)(8)

14,597,449‌

14,597‌

Total

Investments

in

a

Pooled

Account

through

Securities

Lending

Program

with

JPMorgan

Chase

Bank

14,597‌

Total

Securities

Lending

Collateral

(Cost

$14,597)

14,597‌

(Amounts

in

000s,

except

for

contracts)

OPTIONS

PURCHASED

0.0%

OTC

Options

Purchased

0.0%

Counterparty

Description

Contracts

Notional

Amount

$

Value

Citibank

EUR

/

MXN,

Put,

5/10/24

@

MXN18.25

(EUR) (10)

2‌

13,154‌

220‌

HSBC

Bank

USD

/

JPY,

Call,

5/1/24

@

JPY152.00 (10)

1‌

9,400‌

49‌

Total

Options

Purchased

(Cost

$114)

269‌

Total

Investments

in

Securities

101.1%

(Cost

$1,005,585)

$

956,408‌

Other

Assets

Less

Liabilities

(1.1)%

(10,032)

Net

Assets

100.0%

$

946,376‌

‡

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

$82,483

and

represents

8.7%

of

net

assets.

(2)

All

or

a

portion

of

this

security

is

on

loan

at

March

31,

2024.

T.

ROWE

PRICE

International

Bond

Fund

21

.

.

.

.

.

.

.

.

.

.

(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

March

31,

2024,

all

or

a

portion

of

this

security

is

pledged

as

collateral

and/or

margin

deposit

to

cover

future

funding

obligations.

(10)

Non-income

producing

1

Day

INR

MIBOR

One

day

INR

MIBOR

(Mumbai

interbank

offered

rate)

3M

EURIBOR

Three

month

EURIBOR

(Euro

interbank

offered

rate)

6M

EURIBOR

Six

month

EURIBOR

(Euro

interbank

offered

rate)

AUD

Australian

Dollar

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

EGP

Egyptian

Pound

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

OTC

Over-the-counter

PEN

Peruvian

New

Sol

T.

ROWE

PRICE

International

Bond

Fund

22

.

.

.

.

.

.

.

.

.

.

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

TRY

Turkish

Lira

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

23

(Amounts

in

000s,

except

for

contracts)

OPTIONS

WRITTEN

(0.2)%

OTC

Options

Written

(0.2)%

Counterparty

Description

Contracts

Notional

Amount

$

Value

Citibank

5

Year

Interest

Rate

Swap,

1/14/31

Pay

Fixed

2.45%

Annually,

Receive

Variable

3.851%

(6M

EURIBOR)

Semi-Annually,

1/12/26

@

2.45%*

(EUR)

1

43,700

(838‌)

Citibank

5

Year

Interest

Rate

Swap,

1/14/31

Receive

Fixed

2.45%

Annually,

Pay

Variable

3.851%

(6M

EURIBOR)

Semi-Annually,

1/12/26

@

2.45%*

(EUR)

1

43,700

(1,169‌)

Total

Options

Written

(Premiums

$(2,265))

$

(2,007‌)

*

Exercise

Spread

T.

ROWE

PRICE

International

Bond

Fund

24

(Amounts

in

000s)

SWAPS

(0.0)%

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,

BBB-*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

12/20/24

(USD)

*

3,672

25

(22)

47‌

Bank

of

America,

Protection

Sold (Relevant

Credit:

Hellenic

Republic,

BBB-*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

12/20/29

(USD)

*

1,700

25

(49)

74‌

Barclays

Bank,

Protection

Sold (Relevant

Credit:

Hellenic

Republic,

BBB-*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

6/20/24

(USD)

*

380

1

(1)

2‌

Barclays

Bank,

Protection

Sold (Relevant

Credit:

Hellenic

Republic,

BBB-*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

12/20/24

(USD)

*

2,800

19

(2)

21‌

Citibank,

Protection

Sold (Relevant

Credit:

Hellenic

Republic,

BBB-*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

6/20/25

(USD)

*

1,356

15

(18)

33‌

Morgan

Stanley,

Protection

Sold (Relevant

Credit:

Hellenic

Republic,

BBB-*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

12/20/24

(USD)

*

833

6

(1)

7‌

Morgan

Stanley,

Protection

Sold (Relevant

Credit:

Hellenic

Republic,

BBB-*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

6/20/25

(USD)

*

572

6

(7)

13‌

Total

Greece

(100)

197‌

Total

Bilateral

Credit

Default

Swaps,

Protection

Sold

(100)

197‌

Total

Bilateral

Swaps

(100)

197‌

T.

ROWE

PRICE

International

Bond

Fund

25

(Amounts

in

000s)

Description

Notional

Amount

$

Value

Initial

$

Value

**

Unrealized

$

Gain/(Loss)

CENTRALLY

CLEARED

SWAPS

(0.0)%

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

(268)

(103)

(165‌)

Total

Canada

(165‌)

Total

Centrally

Cleared

Credit

Default

Swaps,

Protection

Bought

(165‌)

Credit

Default

Swaps,

Protection

Sold

0.1%

Foreign/Europe

0.1%

Protection

Sold

(Relevant

Credit:

Markit

iTraxx

Europe-S40,

5

Year

Index),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

12/20/28

17,500

415

329

86‌

Total

Foreign/Europe

86‌

Greece

0.0%

Protection

Sold

(Relevant

Credit:

Hellenic

Republic,

BBB-*),

Receive

1.00%

Quarterly,

Pay

upon

credit

default,

6/20/26

(USD)

1,600

26

17

9‌

Total

Greece

9‌

Spain

0.0%

Protection

Sold

(Relevant

Credit:

Cellnex

Telecom,

BBB-*),

Receive

5.00%

Quarterly,

Pay

upon

credit

default,

12/20/28

753

148

122

26‌

Total

Spain

26‌

Total

Centrally

Cleared

Credit

Default

Swaps,

Protection

Sold

121‌

Interest

Rate

Swaps

(0.1)%

China

0.0%

5

Year

Interest

Rate

Swap,

Receive

Fixed

2.283%

Quarterly,

Pay

Variable

2.000%

(7

Day

Interbank

Repo)

Quarterly,

8/18/28

39,900

49

—

49‌

5

Year

Interest

Rate

Swap,

Receive

Fixed

2.476%

Quarterly,

Pay

Variable

2.450%

(7

Day

Interbank

Repo)

Quarterly,

6/1/28

29,985

69

—

69‌

5

Year

Interest

Rate

Swap,

Receive

Fixed

2.562%

Quarterly,

Pay

Variable

2.050%

(7

Day

Interbank

Repo)

Quarterly,

5/15/28

6,673

19

—

19‌

T.

ROWE

PRICE

International

Bond

Fund

26

(Amounts

in

000s)

Description

Notional

Amount

$

Value

Initial

$

Value**

Unrealized

$

Gain/(Loss)

5

Year

Interest

Rate

Swap,

Receive

Fixed

2.568%

Quarterly,

Pay

Variable

2.400%

(7

Day

Interbank

Repo)

Quarterly,

5/16/28

22,665

65

—

65‌

5

Year

Interest

Rate

Swap,

Receive

Fixed

2.579%

Quarterly,

Pay

Variable

2.050%

(7

Day

Interbank

Repo)

Quarterly,

5/15/28

28,915

84

—

84‌

Total

China

286‌

Foreign/Europe

(0.0)%

2

Year

Interest

Rate

Swap,

Pay

Fixed

2.928%

Annually,

Receive

Variable

3.837%

(6M

EURIBOR)

Semi-Annually,

2/6/26

80,270

550

—

550‌

2

Year

Interest

Rate

Swap,

Receive

Fixed

3.155%

Annually,

Pay

Variable

0.000%

(6M

EURIBOR)

Semi-Annually,

4/2/26

154,875

4

—

4‌

5

Year

Interest

Rate

Swap,

Receive

Fixed

2.793%

Annually,

Pay

Variable

3.912%

(6M

EURIBOR)

Semi-Annually,

3/5/29

10,600

48

—

48‌

5

Year

Interest

Rate

Swap,

Receive

Fixed

2.807%

Annually,

Pay

Variable

3.908%

(6M

EURIBOR)

Semi-Annually,

3/5/29

21,152

110

2

108‌

5

Year

Interest

Rate

Swap,

Receive

Fixed

3.367%

Annually,

Pay

Variable

3.909%

(6M

EURIBOR)

Semi-Annually,

9/21/28

29,140

1,360

—

1,360‌

7

Year

Interest

Rate

Swap,

Receive

Fixed

2.638%

Annually,

Pay

Variable

3.938%

(6M

EURIBOR)

Semi-Annually,

12/17/29

7,350

(33)

—

(33‌)

10

Year

Interest

Rate

Swap,

Receive

Fixed

0.830%

Annually,

Pay

Variable

3.908%

(6M

EURIBOR)

Semi-Annually,

3/2/32

11,900

(1,637)

—

(1,637‌)

10

Year

Interest

Rate

Swap,

Receive

Fixed

1.222%

Annually,

Pay

Variable

4.138%

(6M

EURIBOR)

Semi-Annually,

4/5/32

650

(75)

—

(75‌)

10

Year

Interest

Rate

Swap,

Receive

Fixed

2.698%

Annually,

Pay

Variable

4.026%

(6M

EURIBOR)

Semi-Annually,

11/30/32

300

—

—

—‌

10

Year

Interest

Rate

Swap,

Receive

Fixed

2.730%

Annually,

Pay

Variable

4.070%

(6M

EURIBOR)

Semi-Annually,

11/23/32

13,600

83

—

83‌

30

Year

Interest

Rate

Swap,

Pay

Fixed

2.427%

Annually,

Receive

Variable

3.912%

(6M

EURIBOR)

Semi-Annually,

3/5/54

2,150

(44)

—

(44‌)

30

Year

Interest

Rate

Swap,

Pay

Fixed

2.447%

Annually,

Receive

Variable

3.908%

(6M

EURIBOR)

Semi-Annually,

3/4/54

4,975

(124)

2

(126‌)

T.

ROWE

PRICE

International

Bond

Fund

27

(Amounts

in

000s)

Description

Notional

Amount

$

Value

Initial

$

Value**

Unrealized

$

Gain/(Loss)

30

Year

Interest

Rate

Swap,

Pay

Fixed

2.953%

Annually,

Receive

Variable

3.909%

(6M

EURIBOR)

Semi-Annually,

9/22/53

3,060

(466)

—

(466‌)

Total

Foreign/Europe

(228‌)

India

(0.0)%

7

Year

Interest

Rate

Swap,

Pay

Fixed

6.252%

Semi-Annually,

Receive

Variable

7.900%

(1

Day

INR

MIBOR)

Semi-Annually,

3/20/31

338,584

(5)

—

(5‌)

Total

India

(5‌)

Japan

(0.0)%

5

Year

Interest

Rate

Swap,

Pay

Fixed

0.418%

Annually,

Receive

Variable

(0.020)%

(JPY

TONA)

Annually,

8/10/28

9,725,400

(92)

—

(92‌)

Total

Japan

(92‌)

Mexico

(0.1)%

7

Year

Interest

Rate

Swap,

Receive

Fixed

5.499%

28

Days,

Pay

Variable

11.472%

(MXIBTIIE)

28

Days,

5/4/27

100,000

(626)

—

(626‌)

Total

Mexico

(626‌)

United

Kingdom

(0.0)%

2

Year

Interest

Rate

Swap,

Pay

Fixed

4.439%

Annually,

Receive

Variable

5.190%

(GBP

SONIA)

Annually,

3/27/26

101,050

(69)

—

(69‌)

Total

United

Kingdom

(69‌)

Total

Centrally

Cleared

Interest

Rate

Swaps

(734‌)

Total

Centrally

Cleared

Swaps

(778‌)

Net

payments

(receipts)

of

variation

margin

to

date

668‌

Variation

margin

receivable

(payable)

on

centrally

cleared

swaps

$

(110‌)

*

Credit

ratings

as

of

March

31,

2024.

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

$3.

T.

ROWE

PRICE

International

Bond

Fund

28

(Amounts

in

000s)

FORWARD

CURRENCY

EXCHANGE

CONTRACTS

Counterparty

Settlement

Receive

Deliver

Unrealized

Gain/(Loss)

Bank

of

America

4/3/24

USD

2,580‌

TWD

79,349‌

$

100‌

Bank

of

America

4/5/24

IDR

51,437,767‌

USD

3,303‌

(60‌)

Bank

of

America

4/5/24

KRW

3,010,416‌

USD

2,273‌

(38‌)

Bank

of

America

4/9/24

TRY

40,937‌

USD

1,235‌

13‌

Bank

of

America

4/12/24

MXN

17,266‌

USD

1,008‌

28‌

Bank

of

America

4/19/24

USD

10,742‌

CAD

14,477‌

51‌

Bank

of

America

5/17/24

USD

2,355‌

PLN

9,401‌

3‌

Bank

of

America

6/7/24

USD

23,929‌

MYR

114,117‌

(58‌)

Barclays

Bank

4/3/24

USD

3,130‌

TWD

96,252‌

122‌

Barclays

Bank

4/5/24

KRW

36,646,914‌

USD

27,908‌

(693‌)

Barclays

Bank

4/5/24

USD

661‌

INR

55,090‌

—‌

Barclays

Bank

4/5/24

USD

29,247‌

KRW

39,407,904‌

(18‌)

Barclays

Bank

4/9/24

TRY

40,936‌

USD

1,253‌

(5‌)

Barclays

Bank

4/9/24

USD

1,513‌

TRY

49,568‌

2‌

Barclays

Bank

4/12/24

ZAR

67,511‌

USD

3,601‌

(41‌)

Barclays

Bank

5/24/24

GBP

4,287‌

USD

5,404‌

9‌

Barclays

Bank

5/24/24

GBP

5,629‌

USD

7,182‌

(75‌)

Barclays

Bank

6/14/24

CNH

632,354‌

USD

88,398‌

(1,016‌)

Barclays

Bank

7/5/24

KRW

39,407,904‌

USD

29,388‌

(40‌)

BNP

Paribas

4/5/24

USD

2,053‌

KRW

2,756,956‌

6‌

BNP

Paribas

4/12/24

CZK

141,725‌

USD

6,289‌

(247‌)

BNP

Paribas

4/12/24

USD

3,600‌

ZAR

67,511‌

40‌

BNP

Paribas

4/19/24

USD

8,103‌

EUR

7,441‌

68‌

BNP

Paribas

4/19/24

USD

661‌

JPY

98,273‌

10‌

BNP

Paribas

5/24/24

SEK

123,526‌

USD

11,936‌

(369‌)

BNP

Paribas

5/24/24

USD

12,407‌

EUR

11,392‌

88‌

BNP

Paribas

6/7/24

USD

6,452‌

THB

230,316‌

103‌

BNP

Paribas

6/14/24

USD

3,594‌

CNH

26,000‌

1‌

BNP

Paribas

6/14/24

USD

14,146‌

SGD

18,780‌

188‌

Canadian

Imperial

Bank

of

Commerce

4/19/24

CAD

38,721‌

USD

28,877‌

(283‌)

Canadian

Imperial

Bank

of

Commerce

5/24/24

USD

334‌

EUR

305‌

4‌

Citibank

4/5/24

USD

2,711‌

IDR

42,501,260‌

32‌

Citibank

4/5/24

USD

271‌

INR

22,622‌

—‌

Citibank

4/12/24

DKK

23,298‌

USD

3,432‌

(60‌)

Citibank

4/12/24

HUF

2,236,884‌

USD

6,394‌

(272‌)

Citibank

4/12/24

RON

7,061‌

USD

1,551‌

(19‌)

Citibank

4/18/24

ILS

5,956‌

USD

1,593‌

28‌

Citibank

5/24/24

USD

7,132‌

EUR

6,534‌

67‌

Citibank

9/4/24

EGP

83,836‌

USD

1,841‌

(150‌)

Citibank

3/4/25

EGP

15,643‌

USD

299‌

(5‌)

Citibank

3/12/25

EGP

52,386‌

USD

936‌

47‌

T.

ROWE

PRICE

International

Bond

Fund

29

(Amounts

in

000s)

FORWARD

CURRENCY

EXCHANGE

CONTRACTS

(CONTINUED)

Counterparty

Settlement

Receive

Deliver

Unrealized

Gain/(Loss)

Deutsche

Bank

4/5/24

IDR

106,116,790‌

USD

6,712‌

$

(22‌)

Deutsche

Bank

4/5/24

USD

687‌

INR

57,342‌

—‌

Deutsche

Bank

4/12/24

HUF

882,102‌

USD

2,483‌

(68‌)

Deutsche

Bank

4/12/24

USD

2,351‌

CZK

55,092‌

3‌

Deutsche

Bank

4/12/24

USD

1,463‌

HUF

528,864‌

16‌

Deutsche

Bank

5/17/24

PLN

18,609‌

USD

4,582‌

75‌

Deutsche

Bank

5/24/24

GBP

1,938‌

USD

2,474‌

(27‌)

Deutsche

Bank

7/5/24

USD

6,694‌

IDR

106,116,790‌

26‌

Goldman

Sachs

4/3/24

TWD

294,342‌

USD

9,245‌

(48‌)

Goldman

Sachs

4/3/24

USD

3,857‌

TWD

118,741‌

146‌

Goldman

Sachs

4/5/24

IDR

37,390,491‌

USD

2,405‌

(48‌)

Goldman

Sachs

4/5/24

USD

966‌

IDR

15,014,400‌

20‌

Goldman

Sachs

4/5/24

USD

3,211‌

INR

267,772‌

1‌

Goldman

Sachs

4/19/24

USD

9,469‌

CAD

12,684‌

102‌

Goldman

Sachs

5/24/24

EUR

1,936‌

USD

2,103‌

(10‌)

Goldman

Sachs

6/4/24

BRL

34,265‌

USD

6,838‌

(49‌)

Goldman

Sachs

6/4/24

USD

3,136‌

BRL

15,804‌

5‌

Goldman

Sachs

6/7/24

USD

2,935‌

THB

104,341‌

59‌

Goldman

Sachs

7/5/24

USD

9,301‌

TWD

294,342‌

54‌

Goldman

Sachs

7/12/24

TRY

66,688‌

USD

1,849‌

(24‌)

HSBC

Bank

4/5/24

INR

214,472‌

USD

2,569‌

3‌

HSBC

Bank

4/5/24

INR

403,212‌

USD

4,838‌

(4‌)

HSBC

Bank

4/5/24

KRW

2,507,530‌

USD

1,887‌

(25‌)

HSBC

Bank

4/5/24

USD

1,022‌

IDR

15,948,905‌

16‌

HSBC

Bank

4/5/24

USD

2,430‌

IDR

38,638,112‌

(5‌)

HSBC

Bank

4/12/24

USD

4,731‌

CZK

110,208‌

33‌

HSBC

Bank

4/19/24

CAD

3,219‌

USD

2,382‌

(5‌)

HSBC

Bank

4/19/24

JPY

135,710‌

USD

899‌

1‌

HSBC

Bank

4/19/24

JPY

918,965‌

USD

6,254‌

(163‌)

HSBC

Bank

4/19/24

USD

33,589‌

JPY

4,978,359‌

595‌

HSBC

Bank

5/17/24

PLN

9,743‌

USD

2,468‌

(30‌)

HSBC

Bank

6/4/24

USD

3,698‌

BRL

18,461‌

41‌

HSBC

Bank

7/5/24

USD

4,824‌

INR

403,212‌

4‌

HSBC

Bank

7/5/24

USD

2,561‌

INR

214,472‌

(3‌)

JPMorgan

Chase

4/5/24

IDR

5,112,900‌

USD

327‌

(4‌)

JPMorgan

Chase

4/5/24

USD

2,575‌

INR

214,858‌

(1‌)

JPMorgan

Chase

4/19/24

AUD

5,201‌

USD

3,479‌

(88‌)

JPMorgan

Chase

4/19/24

CHF

4,133‌

USD

4,738‌

(144‌)

JPMorgan

Chase

4/19/24

USD

1,512‌

JPY

218,353‌

65‌

JPMorgan

Chase

5/17/24

PLN

3,152‌

USD

784‌

5‌

JPMorgan

Chase

5/24/24

USD

7,654‌

EUR

7,052‌

29‌

JPMorgan

Chase

6/7/24

USD

108‌

MYR

512‌

—‌

Morgan

Stanley

4/5/24

PEN

26,434‌

USD

6,995‌

110‌

T.

ROWE

PRICE

International

Bond

Fund

30

(Amounts

in

000s)

FORWARD

CURRENCY

EXCHANGE

CONTRACTS

(CONTINUED)

Counterparty

Settlement

Receive

Deliver

Unrealized

Gain/(Loss)

Morgan

Stanley

4/5/24

USD

5,234‌

PEN

19,335‌

$

36‌

Morgan

Stanley

4/5/24

USD

5,100‌

PEN

19,032‌

(16‌)

Morgan

Stanley

4/12/24

MXN

8,698‌

USD

505‌

17‌

Morgan

Stanley

4/19/24

CHF

2,056‌

USD

2,347‌

(62‌)

Morgan

Stanley

5/24/24

EUR

1,998‌

USD

2,184‌

(23‌)

Morgan

Stanley

5/24/24

USD

3,101‌

EUR

2,853‌

16‌

Morgan

Stanley

6/7/24

USD

4,989‌

COP

19,954,526‌

(113‌)

RBC

Dominion

Securities

4/5/24

IDR

25,120,641‌

USD

1,606‌

(22‌)

RBC

Dominion

Securities

4/12/24

MXN

47,149‌

USD

2,725‌

104‌

RBC

Dominion

Securities

4/19/24

CAD

9,837‌

USD

7,278‌

(14‌)

RBC

Dominion

Securities

5/24/24

GBP

50‌

USD

64‌

(1‌)

Standard

Chartered

4/5/24

USD

3,309‌

PEN

12,172‌

38‌

Standard

Chartered

4/19/24

USD

6,813‌

NZD

10,915‌

292‌

State

Street

4/12/24

MXN

41,810‌

USD

2,399‌

110‌

State

Street

4/12/24

USD

6,754‌

MXN

114,924‌

(143‌)

State

Street

4/19/24

JPY

8,458,479‌

USD

59,163‌

(3,105‌)

State

Street

4/19/24

NOK

16,159‌

USD

1,550‌

(61‌)

State

Street

5/24/24

EUR

13,782‌

USD

14,948‌

(46‌)

State

Street

5/24/24

USD

384‌

EUR

351‌

5‌

State

Street

6/14/24

CNH

45,566‌

USD

6,291‌

5‌

UBS

Investment

Bank

4/5/24

USD

7,254‌

IDR

113,075,911‌

125‌

UBS

Investment

Bank

4/12/24

CZK

54,308‌

USD

2,408‌

(93‌)

UBS

Investment

Bank

4/12/24

HUF

804,648‌

USD

2,302‌

(100‌)

UBS

Investment

Bank

4/12/24

USD

3,308‌

CZK

76,349‌

53‌

UBS

Investment

Bank

4/19/24

CHF

3,981‌

USD

4,632‌

(207‌)

UBS

Investment

Bank

4/19/24

JPY

734,956‌

USD

5,002‌

(131‌)

UBS

Investment

Bank

4/19/24

USD

2,578‌

CHF

2,180‌

155‌

UBS

Investment

Bank

4/19/24

USD

8,146‌

JPY

1,214,644‌

97‌

UBS

Investment

Bank

5/10/24

CLP

4,793,578‌

USD

5,049‌

(163‌)

UBS

Investment

Bank

5/24/24

EUR

1,417‌

USD

1,528‌

4‌

UBS

Investment

Bank

5/24/24

USD

1,630‌

EUR

1,494‌

14‌

UBS

Investment

Bank

5/24/24

USD

14,558‌

SEK

151,984‌

326‌

UBS

Investment

Bank

6/7/24

USD

1,642‌

COP

6,563,117‌

(36‌)

UBS

Investment

Bank

6/7/24

USD

2,932‌

THB

105,040‌

36‌

Wells

Fargo

4/5/24

PEN

12,053‌

USD

3,231‌

8‌

Wells

Fargo

4/5/24

PEN

12,052‌

USD

3,256‌

(16‌)

Wells

Fargo

5/10/24

CLP

7,558,761‌

USD

7,994‌

(289‌)

Wells

Fargo

6/7/24

USD

1,646‌

COP

6,629,411‌

(49‌)

Wells

Fargo

7/5/24

USD

3,252‌

PEN

12,053‌

18‌

Wells

Fargo

7/5/24

USD

3,227‌

PEN

12,053‌

(8‌)

Net

unrealized

gain

(loss)

on

open

forward

currency

exchange

contracts

$

(5,037‌)

T.

ROWE

PRICE

International

Bond

Fund

31

FUTURES

CONTRACTS

($000s)

Expiration

Date

Notional

Amount

Value

and

Unrealized

Gain

(Loss)

Short,

95

Commonwealth

of

Australia

ten

year

bond

contracts

6/24

(7,217)

$

3‌

Long,

67

Commonwealth

of

Australia

three

year

bond

contracts

6/24

4,668

(1‌)

Long,

34

Euro

BOBL

contracts

6/24

4,338

17‌

Long,

2

Euro

BUXL

thirty

year

bond

contracts

6/24

293

7‌

Long,

168

Government

of

Canada

ten

year

bond

contracts

6/24

14,925

(65‌)

Short,

8

Government

of

Japan

ten

year

bond

contracts

6/24

(7,709)

(5‌)

Short,

6

Long

Gilt

ten

year

contracts

6/24

(757)

(12‌)

Long,

316

Republic

of

South

Korea

ten

year

bond

contracts

6/24

26,660

(78‌)

Short,

225

Republic

of

South

Korea

three

year

bond

contracts

6/24

(17,524)

25‌

Net

payments

(receipts)

of

variation

margin

to

date

54‌

Variation

margin

receivable

(payable)

on

open

futures

contracts

$

(55‌)

T.

ROWE

PRICE

International

Bond

Fund

32

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

three

months

ended

March

31,

2024.

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,

5.39%

$

—‌

$

—‌

$

253‌++

Totals

$

—‌#

$

—‌

$

253‌+

Supplementary

Investment

Schedule

Affiliate

Value

12/31/23

Purchase

Cost

Sales

Cost

Value

03/31/24

T.

Rowe

Price

Government

Reserve

Fund,

5.39%

$

25,836‌

 ¤

 ¤

$

29,245‌

Total

$

29,245‌^

#

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

$253

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

$29,245.

T.

ROWE

PRICE

International

Bond

Fund

Unaudited

Notes

to

Portfolio

of

Investments

33

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

34

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.

Listed

options,

and

OTC

options

with

a

listed

equivalent,

are

valued

at

the

mean

of

the

closing

bid

and

asked

prices

and

exchange-traded

options

on

futures

contracts

are

valued

at

closing

settlement

prices.

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

T.

ROWE

PRICE

International

Bond

Fund

35

valuation

methods

such

as

market-based

valuation

multiples;

a

discount

or

premium

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

March

31,

2024

(for

further

detail

by

category,

please

refer

to

the

accompanying

Portfolio

of

Investments):

T.

ROWE

PRICE

International

Bond

Fund

36

OTHER

MATTERS 

Unpredictable

events

such

as

environmental

or

natural

disasters,

war

and

conflict,

terrorism,

geopolitical

events,

and

public

health

epidemics 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

$

—‌

$

912,315‌

$

—‌

$

912,315‌

Short-Term

Investments

14,648‌

14,579‌

—‌

29,227‌

Securities

Lending

Collateral

14,597‌

—‌

—‌

14,597‌

Options

Purchased

—‌

269‌

—‌

269‌

Total

Securities

29,245‌

927,163‌

—‌

956,408‌

Swaps*

—‌

2,657‌

—‌

2,657‌

Forward

Currency

Exchange

Contracts

—‌

3,878‌

—‌

3,878‌

Futures

Contracts*

52‌

—‌

—‌

52‌

Total

$

29,297‌

$

933,698‌

$

—‌

$

962,995‌

Liabilities

Options

Written

$

—‌

$

2,007‌

$

—‌

$

2,007‌

Swaps*

—‌

3,338‌

—‌

3,338‌

Forward

Currency

Exchange

Contracts

—‌

8,915‌

—‌

8,915‌

Futures

Contracts*

161‌

—‌

—‌

161‌

Total

$

161‌

$

14,260‌

$

—‌

$

14,421‌

1

Includes

Asset-Backed

Securities,

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

37

The

global

outbreak

of

COVID-19

and

the

related

governmental

and

public

responses

have

led

and

may

continue

to

lead

to

increased

market

volatility

and

the

potential

for

illiquidity

in

certain

classes

of

securities

and

sectors

of

the

market

either

in

specific

countries

or

worldwide.

In

February

2022,

Russian

forces

entered

Ukraine

and

commenced

an

armed

conflict,

leading

to

economic

sanctions imposed

on

Russia

that

target certain

of

its

citizens

and

issuers

and

sectors

of

the

Russian

economy,

creating

impacts

on

Russian-related

stocks

and

debt

and

greater

volatility

in

global

markets.

In

March

2023,

the

banking

industry

experienced

heightened

volatility,

which

sparked

concerns

of

potential

broader

adverse

market

conditions.

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.

F76-054Q1

03/24