Eurobond
A bond issued in a currency other than that of the country where it is issued, sold internationally.
What is Eurobond?
A Eurobond is an international bond denominated in a currency other than the currency of the country in which it is issued. For example, a US dollar-denominated bond issued in London is a Eurobond (specifically a Eurodollar bond). The 'Euro' prefix refers to the bond being issued outside the issuer's home country, not to the euro currency. Eurobonds are typically issued by multinational corporations, sovereign governments, and supranational organizations seeking to raise capital in international markets. They are sold to investors across multiple countries simultaneously, often registered in offshore financial centers like Luxembourg. Eurobonds offer issuers access to deeper international capital pools and potentially lower interest rates, with less regulatory burden than domestic bonds.
Example
Apple issues Eurobonds denominated in euros to borrow money from European investors at European interest rates, which were near zero in 2015–2021. By issuing in euros, Apple matched its funding currency to its European revenue streams (a natural currency hedge) and took advantage of lower European yields — saving hundreds of millions in interest costs compared to issuing equivalent dollar bonds in the US.
Source: Apple Inc. — 10-K Note on Debt