EMTN (European Medium Term Note) refers to the structuring of a major investment program with documentation approval at the beginning of the program and with future drawings as the investments unfold.
This product is designed for companies or public authorities (with at least a BBB rating) that are able to realize investment projects of min EUR 200 million, by themselves or in a group of more issuers.
The main characteristics of an EMTN program are the maturity (usually 5-10 years) and the variable interest rate (Euribor +/- fixed interest points, the major advantage being that Euribor remained fix during the program).
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