First for a company to enjoy the international capital market there is need to differentiate those bonds that apply to this market. The Eurodollar market is equated to an international money market and the Eurobond market is associated with the international capital markets. Since most nations restrict entry of foreign borrowing companies to their domestic capital markets, the Eurobond market provides a free market for them. In this market, these companies can enjoy free regulations, no withholding of taxes earned on interest n income.
Global bonds on the other hand, can be issued within and out of a country. Apart from the traditional World Bank, the issuance of global bonds can is done currently by nations, industrial countries and multinationals. The advantage of these bonds to the issuing company is that they allow the company to solicit for various markets and give greater liquidity to those that invest. Global bonds can reduce the borrowing costs to companies that venture into the international capital market. The costs in borrowing are offset by the fixed cost of borrowing attained through via global formats like he clearance of arrangements and registration. However, to further reduce costs, companies can use the Eurobonds since they have lower costs as compared to the global bonds.
 Kim, Global Corporate, 45.
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