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 ?
Philippine banks have been diversifying their funding sources by tapping the offshore debt market via medium term note programs.
New Delhi [India], Dec 27 ( ANI ): YES Bank has become the first bank to establish the Medium Term Notes (MTN) programme on the Global Securities Market (GSM) at the BSE's India International Exchange (India INX), the bank said in a corporate filing today.
In 2009, Saab had announced a Medium Term Note programme in order to increase its financial flexibility.
Dentons has advised Majid Al Futtaim Holding on the update of its $2,000,000,000 Global Medium Term Note Programme (the GMTN Programme) and $1,000,000,000 Trust Certificate Issuance Programme, both completed on 29 April.
Indian private sector lender, Yes Bank (532648.BO) (YESBANK.NS) (OOTC: YESBF), has said that it has set up a medium term note programme to raise USD1.0bn (over INR64bn) through private placement by offering debt securities, The Business Standard has reported citing a regulatory filing from the bank.
Global law firm White & Case LLP has advised the Ooredoo group on the update of its US$5 billion Global Medium Term Note Programme and the issuance thereunder of US$500 million of notes by Ooredoo International Finance Limited which are guaranteed by Ooredoo Q.S.C.
This offshore debt funding will be conducted pursuant to ORIXs Euro Medium Term Note Programme established as part of its strategy in securing funding flexibility and diversification.
Also, Holcim Finance (Luxembourg) S.A successfully placed, under its Euro Medium Term Note programme, EUR1,150m of notes with a 7-year maturity and a fixed annual coupon of 1.375% and EUR850m notes with a 12-year maturity and a fixed annual coupon of 2.250%, both guaranteed by LafargeHolcim Ltd.
Bank closes its five year, $500 million bond issuance under its Euro Medium Term Note (EMTN) programme
Global Banking News-September 17, 2013--China Ping An Insurance sets USD2bn medium term note programme(C)2013 ENPublishing - http://www.enpublishing.co.uk
Qatar Telecom (Qtel) ahas nnounced the successful pricing of $1 billion senior unsecured notes (Reg S/Rule 144A) to be issued by its wholly owned subsidiary, Qtel International Finance Limited under the Global Medium Term Note Programme that was established on the Irish Stock Exchange last week.
The transaction was executed under Statoil ASA s USD 8,000,000,000 Euro Medium Term Note (EMTN) Programme.

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