Floating rate note
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Revision as of 16:45, 14 April 2022 by Doug Williamson (Talk | contribs) (Update for LIBOR transition.)
(FRN).
A bond, normally with a fixed maturity, where the interest coupon is adjusted at regular intervals reflecting the prevailing market rate (usually at a margin over a benchmark interest rate).
Sometimes known as a floating rate bond, or a 'floater'.
