The Euronote market is the collective term used to describe short- to medium-term debt instruments sourced in the Eurocurrency market. Although a multitude of differentiated financial products exists, they can be divided into two major groups— underwritten facilities and non-underwritten facilities. Underwritten facilities are used for the sale of Euronotes in a number of different form. Non-underwritten facilities are used for the sale and distribution of Euro-commercial paper (ECP) and Euro medium-term notes (EMTNs).
Definition