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 ?
20, 2014 /PRNewswire/ - Bell Canada and Bell Aliant Regional Communications, Limited Partnership today announced the completion of a previously announced transaction to exchange all Bell Aliant Medium Term and Floating Rate Medium Term Notes for Bell Canada Debentures having the same financial terms.
The medium term notes, as with all other FQ debt obligations, are unconditional full faith and credit obligations of the Province of Quebec.
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.
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.
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.
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).
The Medium Term Notes will be issued from time to time during the next two years in an aggregate principal amount of up to $250,000,000, will have maturities of not less than one year and will be offered at prices and contain such other terms as may be determined at the time of the issue.
600 million medium term notes due 2008 affirmed at 'A+'/Stable;
s newly launched medium term note program is rated as follows by Fitch: senior medium term notes "A+" and the subordinated medium term notes "A".

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