Everything about Eurobond totally explained
A
Eurobond is an international
bond that's denominated in a
currency not native to the country where it's issued. It can be categorised according to the currency in which it's issued. London is one of the centers of the Eurobond market, but Eurobonds may be traded throughout the world - for example in
Singapore or
Tokyo.
Eurobonds are named after the currency they're denominated in. For example,
Euroyen and
Eurodollar bonds are denominated in Japanese
yen and American
dollars respectively. A Eurobond is normally a
bearer bond, payable to the bearer. It is also free of withholding tax. The bank will pay the holder of the coupon the interest payment due. Usually, no official records are kept.
The majority of Eurobonds are now owned in 'electronic' rather than physical form. The bonds are held and traded within one of the clearing systems (
Euroclear and
Clearstream being the most common). Coupons are paid electronically via the clearing systems to the holder of the Eurobond (or their nominee account).
Further Information
Get more info on 'Eurobond'.
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