The United States Borrower in the Eurobond Market—A Lawyer’s Point of View

In recent years there has been a marked growth in long-term financing in the Eurobond market, the major portion of which has been in the form of Eurodollars, that is, deposits held abroad in the form of U.S. dollars.' Moreover, by far the greatest part of this borrowing has been by U.S. companies. It has been estimated that in I968 US. companies sold more than $2 billion of such securities.2 This article discusses various aspects of such financing by U.S. companies from the point of view of a U.S. lawyer.