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 ?
25bn medium term notes in USA, including USD500m three-year fixed-rate notes, USD250m three-year floating-rate notes, and USD500m five-year fixed-rate notes.
P reported on Friday that over 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, with respect to coupon, maturity and redemption price, as those of the Bell Aliant notes.
MARC has withdrawn its -IS and A- ratings on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd's (Kesturi) MYR 820 million Sukuk Musyarakah Medium Term Notes Programme (Senior Sukuk) and MYR 50 million Redeemable Junior Bonds (Junior Bonds) respectively upon full early redemption of the outstanding notes.
500% and USD250m zero-coupon medium term notes maturing on 23 August 2013 and 23 February 2012, respectively.
The medium term notes, as with all other FQ debt obligations, are unconditional full faith and credit obligations of the Province of Quebec.
Aviation Capital Group Corp (ACG), a lessor of commercial jet aircraft, on Tuesday announced that it has filed documentation with and received approval from the Singapore Exchange Securities Limited to issue unsecured medium term notes.
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.
2 billion of funding agreements that secure medium term notes.
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;

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