Word: eurobond
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Dates: during 1967-1967
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Rushing in last year to finance their building programs with Eurobonds, U.S. corporations disrupted bond markets, shut out other prospective borrowers, such as the Scandinavians, sent interest rates on medium-term bonds of five to ten years' maturity up as high as 7%. Recently, however, the demand for bond money has been more orderly -and more money seems to be available for everyone. Robert Genillard, European partner of the Manhattan investment banking firm of White, Weld & Co., points out that the Eurobond market, now $1.3 billion, is nearly three times as large as it was in 1962. Says...