What is the difference between a Eurocredit, a Euronote, and a Euro-medium-term note?

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Eurocredits are typically very large international loans extended by a consortium or syndicate of banks that share the risk of the loan. Eurocredits are typically issued at floating interest rates. Euronotes are short-term, negotiable promissory notes, established by a Euronote facility. Typically, in such a facility, a syndicate of banks commits to distribute for a specified period, typically 5 to 7 years, the borrower's notes (the "Euronotes"), with maturities ranging between 1 month, 3 months, 6 months, and 12 months. In case the notes cannot be placed in the market, the syndicate banks in many Euronote facilities stand ready to buy them at previously guaranteed rates.
Euro-Medium-Term Notes (Euro-MTN) are securities issued directly to the market and bridge the maturity gap between Euronotes and the longer-term international bond, with maturities as short as 9 months to as long as 10 years. Like Euronotes, the Euro-MTN is a facility with notes offered continuously or periodically rather than all at once, like a bond issue. Unlike conventional underwritten debt securities, medium-term notes can be issued in relatively small denominations and issuing costs are low, but they are not underwritten.

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