# 3ABCDEFGHIJKLMNOPQRSTUVWYZ

MTN

Medium-term Notes are corporate debt instruments, usually with a maturity of five to 10 years. Individual MTNs are often issued as part of a programme to provide issuers with regular funding. The MTN market is not as liquid as the international bond market so issuers may have to pay a higher interest rate. Euro Medium Term Notes (EMTNs) are MTNs issued in a eurocurrency.