Definition of 'Global Bond'
This type of bond can be traded in a domestic or European market. It is a bond issued and traded outside the country where a currency is denominated. This type of bond is issued by a non-European company, but sells in a European country or any other foreign market. For example, a U.S. corporation can issue a bond in Europe. These bonds are sold in various maturities and credit qualities.
Also referred to as a Eurobond.
Investopedia explains 'Global Bond'
Most of these bonds are denominated in the currency of where the company is based. Due to the fluctuation of exchange rates, investors typically invest in foreign fixed income that brings in modest returns and fluctuates slightly. It is a way to diversify a portfolio that is limited to a specific denomination or one particular country's bond, such as a U.S. bond, for example, because this bond will have less correlation to the foreign fixed income bond.