, or MNC
s can access long term funds in the Euromarkets
by issuing Eurobonds
Eurobonds are issued in countries other than that whose currency in which it is denominated.
For example, a bond issued in US dollars by General Motors but sold in Switzerland is a Eurobond. If a bond is issued in the currency of the foreign country, it is called a foreign bond.
Although most Eurobonds have a fixed rate, some Eurobonds are issued with a rate that floats every six months. These bonds are called floating rate notes (FRNs).