> I don't know how you can suggest issuing in EUR if you cannot compare the USD interest expense vs what you think they issue under EUR. Okay. > ... liquidity

> I don't know how you can suggest issuing in EUR if you cannot compare the USD interest expense vs what you think they issue under EUR. Okay. > ... liquidity Liquidity begets liquidity. Do what you can. > I'm pretty sure Amazon along with other issuers who issued multi-billion USD deals this year took a look at issuing in EUR and decided it wasn't in their best interests. You shouldn't make that assumption. There are many market participants that wouldn't consider the world outside of their market. There was a long time where the US was the only liquid market, and still eclipses the single currency bloc for liquidity. When favorable inefficiencies come up it is easy to miss them. The cost of the transaction should be a factor, but the foreseeable costs are not that big of a factor. The company can issue 10 - 40 year bonds (or whatever else the market can bear) at low, zero, or negative interest rates and not have to worry about it until 10 - 40 years later. And then what? Well they just issue more bonds, in the next low interest rate environment and use a lot of the proceeds to pay off the remaining bit.