Eurobond

A Eurobond is an international bond issued in a currency different from the currency of the country or market in which it is issued. Despite the name, Eurobonds are not limited to Europe or the euro — the prefix "Euro" refers to the external (offshore) nature of the issuance. For example, a Japanese company issuing dollar-denominated bonds in London creates a Eurodollar bond, while an American company issuing yen-denominated bonds in Europe creates a Euroyen bond. The Eurobond market emerged in the 1960s and has grown to over $25 trillion in outstanding issuance, making it one of the world's largest capital markets. Eurobonds are typically issued in bearer form (ownership not registered), listed on exchanges like Luxembourg or London, and governed by English law. They are popular because they offer regulatory flexibility, can be denominated in any major currency, and provide issuers access to a global investor base. Eurobonds should not be confused with "euro bonds" (bonds denominated in euros) or "Euro government bonds" (bonds issued by EU member states).