As mentioned previously, the world money and capital markets have been a fertile ground for financial innovation during the past couple of decades. In addition to the traditional Eurocredit instruments described in the previous Chapter, an array of marketable debt securities have emerged in the international financial markets as an alternative source of financing for corporations, banks and sovereign borrowers. Some of these marketable debt securities have been and are being actively used in international project financing. Others have not yet been used in project finance structures. But still all of them deserve attention because chances are that any such marketable debt securities may be used in the future in the project financing arena following the path of financial innovation. Below is a description of some of these marketable debt securities.