EMTN
EMTN (Euro Medium Term Notes) On DTCC, Euroclear, Bloomberg
ISIN.net can help place EMTNs on DTCC, Euro Bonds, Bloomberg, Clearstream and more.
Disclaimer: ISIN.net has no affiliation with DTCC, Bloomberg or any other party listed on this webpage.
Euro Medium term notes, also referred to as “EMTN” or “EMTN’s” (EMTNs) are bonds issued under what is known as “EMTN programs”. Euro Medium Term Notes (EMTNs) are issued in the euro markets and are usually listed on varous Stock Exchanges and settlement takes place via either Euro bonds or Cedel. Euro Medium Term Notes’s are usually documented under English law.
The differences between domestic and EMTN’s – program are following:
Domestic MTN EMTN-program
- Coupon Free Free
- Maturity Free Free
- Currency Local/Euro Multicurrency option
- Issuance method Free Free
- Listing Local Exchange Luxemburgo
- Settlement and clearing Local center, Cedel
- Documentation Local jurisdiction English law
Generally Euro Medium Term Notes (EMTN’s) have the following features:
- The maturity and other issue terms can be structured to suit specific investor requirements. This enables Issuers to respond quickly to “windows of opportunity” in the market.
EMTNs are usually offered continuously through a dealer group rather than issued in one tranche underwritten by a syndicate of banks. ISIN.net can assist with MTN or EMTN structures.
Issued tranches can be listed or non-listed for EMTNs
Issued bonds can have a variety of different structures (maturity, coupon, listing etc.)
Issuing method can be syndicated or via a single dealer.
An EMTN-program offers issuers tremendous flexibility in the raising of medium and longer-term funds. The ability to offer investor’s tailor-made solutions with respect to, for instance, issue size, coupon structures, or maturity preferences allows issuers to achieve lower funding costs. The issuer also has flexibility over the amount of notes to be issued at any one time and EMTN documentation makes issuance in smaller amounts economically viable.
Efficient use of the EMTN market increasingly requires that issuers have an international long-term investment grade credit rating (BBB-/Baa3 upwards). As a result the EMTN market is not suited to those borrowers with relatively small borrowing requirements, whose funding needs can be met in the domestic market where not all investors are yet rating sensitive and name recognition is still important. For such issuers a domestic MTN is the better alternative.
ISIN.net can assist with placing your Euro medium term notes or bonds with DTC, Bloomberg, Clearstream, or others.
ISIN.net can assist with MTN or EMTN structures.
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Disclaimer: ISIN.net has no affiliation with DTCC, Bloomberg or any other party listed on this webpage.