A eurobond is a bond issued in a currency other than that of the currency of the country in which it is issued. The bond can be denominated in any currency but must be listed within Europe. They have an annual rather than a semi-annual coupon and are ordinarily issued in bearer form via a syndicate of investment and commercial banks.
ICAP is the leading interdealer broker of Eurobonds. The firm acts as a riskless principal, matching off all purchases and sales instantaneously. Business is transacted in all currencies as well as in liquid and illiquid issues.
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