Medium Term Note

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A Medium Term Note (MTN) is a debt note that usually matures (is paid back) in 5-10 years, but the term may be as short as one year. They´re normally issued on a floating basis such as Euribor +/- basic points. When they are issued in euro they are "Euro Medium Term Notes".

[edit] Medium-Term Note Program

The notes are usually connected to a Medium-Term Note Program, which is a funding program used by companies to receive bond debt funding on a regular and continuous basis. There programmes can include more than one issuer although the issues are independent up to a maximum amount authorised. Programmes are registered in a supervisory authority such as the London Stock Exchange and the Luxembourg Stock Exchange.