Describe Euro-medium-term-note market
Euro-medium-term notes (Euro MTNs) are fixed-rate notes typically issued by a corporation with maturities ranging from less than a year to approximate 10 years. Such as fixed-rate bonds, Euro-MTNs have fixed maturity & pay coupon interest at periodic dates. Unlike a bond issue, wherein the whole issue is brought to market at once, permission is attained for a Euro-MTN issue that is then partially sold on a continuous basis through an issuance facility which allows the borrower to get funds only as required on a flexible basis.