Medium Term Note


Also found in: Dictionary, Medical, Wikipedia.

Medium Term Note

An unconventional bond note with a maturity period usually between five and 10 years continually offered through various brokers, rather than issued all at once like other bonds. Unlike most bonds, which are bought and sold on exchanges, MTNs are normally purchased through an MTN brokerage, which operates on a best effort basis and is under no obligation to sell a certain amount on behalf of the issuer. Unlike corporate bonds, MTNs are almost always marketed to institutions and high net-worth individuals and have few or no small and medium investors. Beyond that, they functions much like corporate bonds: unsecured, non-callable, with fixed coupons and investment grade ratings. MTNs have become a favorite form of fundraising for large corporations, government agencies, and sovereign states. This demand has led to more complex MTNs, with floating interest rates and maturity periods from nine months to 30 years or longer. See also: Euro medium term note.
References in periodicals archive ?
The medium term notes may be issued from time to time and may be denominated in a range of currencies listed on the Singapore Exchange Securities Limited and and listed on the Singapore Exchange Securities Limited or other stock exchanges.
3 billion Islamic Medium Term Notes Programme and MYR 180 million Redeemable Secured Junior Bonds on 2 December, 2013 in conjunction with the new project financing raised to part-finance the extension of the Duta-Ulu Kelang Expressway (refer to MARC's announcement on 20 September, 2013 and 21 November, 2013).
75% medium term notes on September 15, 2006, and the closing of certain acquisitions.
Proceeds were used to satisfy and discharge $43 million and $100 million in outstanding medium term notes that mature in 2006 (including approximately $5 million in interest expense) and to reduce borrowings under the Company's revolving credit facility.
STOCKHOLM, Sweden -- Swedish Match (STO: SWMA) has repurchased EUR 119 874 000 nominal amount, of the 6 1/8 percent Global Medium Term Notes due 1 October 2006 (ISIN No XS0102264651).
600 million medium term notes due 2008 affirmed at 'A+'/Stable;
5 million aggregate principal amount of Subordinated Debentures outstanding and of approximately 91 percent of the $35 million aggregate principal amount of Medium Term Notes outstanding.
The tender offer for the Medium Term Notes is subject to a minimum condition that holders of not less than two-thirds of the aggregate outstanding principal amount of Medium Term Notes consent to the amendments to the Indenture under which those Notes were issued.
medium term notes and Euro medium term notes 'A+' and its commercial paper 'F1'.

Full browser ?