Medium Term Note


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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 ?
Fitch affirms the following Commonwealth General's medium term note ratings with a Stable Outlook:
The Medium Term Notes may be issued from time to time during the 25 months following a receipt for the Short Form Shelf Prospectus in an aggregate principal amount of up to Cdn.
AltaGas anticipates that the net proceeds from the issue of the Medium Term Notes under the program will be used initially to reduce outstanding indebtedness under the Company's existing credit facilities.
These series A medium term notes will carry maturities from nine months to 30 years and will primarily fund the corporation's NationsCredit subsidiary.
2 billion of funding agreements that secure medium term notes.
With this global medium term note program, Banco National de Mexico further diversifies its international sources of funding while increasing their maturity.
Allstate Life Global Funding plans to sell medium term notes that are secured by these funding agreements to individual and institutional investors.
GOLDMAN SACHS GROUP MEDIUM TERM NOTES AA', COMMERCIAL PAPERS
The medium term note program represents Financial's initial foray into sourcing long term funding.
today announced that more than 99% of the votes cast at the meeting of holders of Medium Term Notes and Floating Rate Medium Term Notes of Bell Aliant, voting as a single class, were in favour of a transaction to exchange all such Bell Aliant Notes for Bell Canada Debentures having the same financial terms (including with respect to coupon, maturity and redemption price) as those of the Bell Aliant Notes.
The medium term notes, as with all other FQ debt obligations, are unconditional full faith and credit obligations of the Province of Quebec.

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