15 October 2019

When markets close for the holidays, MTN issuance continues

LGB has arranged over £5.5 million of Medium Term Note issuance in July, August and September. The flexibility of MTN programmes has enabled some of our issuers to raise substantial funding in what are traditionally slower summer months. This is because the documentation and security arrangements are already in place to allow opportunistic issuance when opportunities arise. The only requirement for the issuer is to approve the terms of a transaction – we coordinate the investor demand and settlement.

The flexibility of MTN programmes extends to multi-currency issuance.  Recently Acamar Films has issued both USD and GBP notes. This capability is beneficial for companies with expenses  or investment projects overseas, particularly in the current circumstances with low sterling exchange rates.

We are looking forward to a busy fourth quarter, with existing programme limit increases and new issuers in our pipeline.

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