Setting up an MTN Programme—timeline of process

Copyright © 2025 LexisNexis

Published by a LexisNexis Banking & Finance expert

Checklists

Setting up an MTN Programme—timeline of process

Copyright © 2025 LexisNexis

Published by a LexisNexis Banking & Finance expert

Checklists

imgtext

For more information on the documents set out below, please see Practice Note: Issuing debt securities—key documentation.

Appointment of the arranger

•
The issuer (Issuer) appoints an arranger (Arranger) to establish the programme. The Arranger may also act as a dealer or manager of future note issuances under the programme.

Responsibility—Issuer and Arranger.

Appointment of the dealers

•
The dealer(s) (Dealers) will enter into a dealer agreement with the Issuer and the Arranger.
•
In the case of a syndicated issue the Dealers and the Issuer may also execute a subscription agreement.
•
New dealers can join the programme after its launch through a dealer accession letter.

Responsibility—Dealers, Arranger and the Issuer.

Appointment of the agents

•
The Issuer will appoint agents to act for it on the programme. These may include a fiscal agent (Fiscal Agent) or trustee (appointed by the Issuer to represent the interests of the noteholders), principal paying agent and other paying agents, a registrar (if the notes

Powered by Lexis+^®

Jurisdiction(s):

United Kingdom

Popular documents

Role of a bond trustee

Role of a bond trusteeThis Practice Note explains the role of a bond trustee appointed under an English law trust deed.Not all bond issues involve a trustee. It is up to the issuer to decide whether to appoint a trustee or a fiscal agent—see Practice Note: Parties in an issue of debt

Debt securities—10b-5 letters

Debt securities—10b-5 lettersA 10b-5 letter (also commonly referred to as a ‘negative assurance letter’’) is a letter delivered to the underwriters by issuer's and underwriters' counsel in connection with an offering of securities in the United States pursuant to an Securities and Exchange

Issuing notes (drawdowns) under a medium term note (MTN) programme—timeline of process

Issuing notes (drawdowns) under a medium term note (MTN) programme—timeline of processIntroductionThe process for setting up a medium term note (MTN) programme is set out in Practice Note: Setting up an MTN Programme—timeline of process.This Practice Note focuses on the process for an issuance of

Types of debt securities

Types of debt securitiesWhat are debt securities?In the context of the debt capital markets, the term 'debt security' means a financial instrument, negotiable on the capital markets, which represents a debt obligation.The term 'security' when used in this sense is therefore different from the term