Underwriter — Medium Term Notes
Medium Term
Note Programmes
We establish and manage MTN programmes for corporate and financial institution issuers, providing a flexible and cost-efficient mechanism for ongoing debt capital raising across multiple currencies and tenors.
What is an MTN Programme?
A Standing Debt Issuance Framework
A Medium Term Note programme is a standing debt issuance framework that allows an issuer to raise debt capital on a flexible, ongoing basis without the need for a full standalone bond transaction each time. Once established, the issuer can draw down notes of varying sizes, currencies, and maturities as market conditions and funding needs dictate.
For frequent borrowers — banks, corporates, and government-related entities — an MTN programme is one of the most efficient tools in the debt capital markets toolkit. The programme documentation is prepared once; subsequent issuances are executed quickly and at low marginal cost.
Strigic advises on programme establishment, manages the documentation and regulatory process, and provides ongoing issuance execution — acting as arranger, dealer, or both depending on the client relationship.
Programme Features
- MTN programme establishment and documentation
- Multi-currency and multi-tenor structuring
- Dealer and distributor network management
- Ongoing issuance execution
- Investor relations support
- Programme updates and amendments
Programme Advantages
Why Establish an MTN Programme
Flexible Issuance
Draw down debt as needed under a single programme framework, avoiding the cost and time of standalone bond transactions for each issuance.
Multi-Currency Access
Issue in multiple currencies under one programme, accessing diverse investor bases and managing currency exposure strategically.
Tenor Flexibility
Issue notes across a range of maturities — from short-term commercial paper to long-dated bonds — matching funding to asset and liability profiles.
Cost Efficiency
Once established, a programme dramatically reduces the marginal cost of each subsequent issuance, making it ideal for frequent borrowers.
Establishment Process
From Mandate to First Issuance
Programme Design
We advise on programme size, currency options, tenor range, and structural features — tailoring the framework to the issuer's funding strategy and investor base.
Documentation
Preparation of the base prospectus, dealer agreements, and all ancillary programme documentation in coordination with legal counsel.
Regulatory Approval
We manage the listing and regulatory approval process with the relevant exchange and securities regulator, ensuring the programme is ready for issuance.
Dealer Network
We establish and manage the dealer network, ensuring broad distribution capability across institutional investors in target markets.
Ongoing Issuance
For each drawdown, we manage the pricing, bookbuilding, and settlement process — providing a seamless, repeatable issuance experience.