By far the most important instrument in the eurobond market is the straight bond, generally dollar denominated. Only in two years, 1968 and 1969, when United States companies were particularly active on the borrowing side, did convertible issues amount to more than a small proportion of total issues. The dominance of bond finance over equity or convertible finance arises for a number of reasons:
KeywordsInstitutional Mechanic Bond Issue United States Dollar Convertible Bond Selling Period
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