Multinational corporations, or
MNCs 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).