| 单词 | eurobond |
| 释义 | eurobond eurobond A bond issued in a eurocurrency. The eurobond market is now one of the largest markets for raising money (it is much larger than the UK stock exchange). Initially the main reason for this popularity was that Eurobonds were bearer securities; this meant that secondary market investors could remain anonymous, usually for the purpose of avoiding tax. Although there is still no central register for eurobonds, the use of electronic clearing systems means that anonymity is no longer a practical possibility. Issues of new eurobonds normally take place in London, largely through syndicates of US and Japanese investment banks; they are bearer securities, unlike the shares registered in most stock exchanges, and interest payments are free of any withholding taxes. There are various kinds of eurobonds. An ordinary bond, called a straight, is a fixed-interest loan of 3 to 8 years duration; others include floating-rate notes, which carry a variable interest rate based on the London Inter Bank Offered Rate; and perpetuals, which are never redeemed. Some carry warrants and some are convertible. Eurobonds in British pounds are referred to as eurosterling bonds. |
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