Describe Euronote market
Euronotes are short-term notes written through a group of international investment or commercial banks termed a “facility.” A client-borrower makes an agreement along with a facility to issue Euronotes in its own name for period of time, normally three to 10 years. Euronotes are sold at a discount through face value, and pay back the full face value at maturity. Typically Euronotes contain maturities of from three to six months.