Eurobond definition

Eurobond

Any corporate or government bond issued offshore (commonly in Luxembourg or Netherlands Antilles) outside the regulations of the issuing country and denominated in a currency other than that of the issuer's country. Typically issued in bearer form by non-European institutions for sale in Europe, Eurobonds usually have a fixed final maturity (often 10 to 15 years) but some are perpetual. They cannot be traded in the US, and are cleared and settled through Euroclear and CEDEL, the two clearing houses owned by European banks. Also called global bond.

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