Unlike a bond issue, in which the entire issue is brought to market at once, _______ is partially sold on a continuous basis through an issuance facility that allows the borrower to obtain funds only as needed on a flexible basis.
Based on the information provided within the question it can be said that the term being mentioned is a euro medium-term note. This is a debt instrument that require fixed payments that are issued to the market and allows the borrower to retrieve these funds if actually needed on a flexible basis. These are usually only traded and issued outside of the U.S. and Canada.
