medium-term note


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Medium-term note (MTN)

A corporate debt instrument that is continuously offered to investors over a period of time by an agent of the issuer. Investors can select from maturity bands of: 9 months to 1 year, more than 1 year to 18 months, more than 18 months to 2 years, etc., up to 30 years.

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.

medium-term note (MTN)

A corporate debt security offered intermittently or continuously by an agent of the issuer. Medium-term notes are issued under the SEC's Rule 415. Despite being called notes, these debt securities generally offer a wide range of maturities.
References in periodicals archive ?
EDT September 20, 2016 (the Early Participation Date), and the determination of the pricing terms of its previously announced private offers to exchange certain of its outstanding medium-term notes (collectively, the Existing Notes) for a combination of a new issue of the Companys Medium-Term Notes, Series H, 1.
M2 EQUITYBITES-February 3, 2015-Pembina Pipeline concludes offering of CAD600m senior unsecured medium-term notes
Pembina Pipeline Corporation (NYSE: PBA) said it has agreed to offer USD600 million of senior unsecured medium-term notes.
HK), one of the largest gold producers in China, is seeking regulatory approval to issue medium-term notes.
For investment-grade nonfinancial corporations, medium-term notes became a growing source of funds.
Global book-entry is now being used in the burgeoning market for medium-term notes and is expected to be available to the huge commercial paper market shortly.
Today, AltaLink announced that it has agreed to issue a principal amount of $250 million of Series 2013-1 Medium-Term Notes due July 11, 2053, through its $2.
2012-2 Medium-Term Notes due November 28, 2022, through its $2.