What does frn mean in Business?
This page is about the meanings of the acronym/abbreviation/shorthand frn in the field in general and in the Business terminology in particular.
Floating Rate Note
Submitted by JP03 on March 30, 2012
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Definition
What does frn mean?
- Floating rate note
- Floating rate notes are bonds that have a variable coupon, equal to a money market reference rate, like LIBOR or federal funds rate, plus a quoted spread. The spread is a rate that remains constant. Almost all FRNs have quarterly coupons, i.e. they pay out interest every three months. At the beginning of each coupon period, the coupon is calculated by taking the fixing of the reference rate for that day and adding the spread. A typical coupon would look like 3 months USD LIBOR +0.20%.
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"frn." Abbreviations.com. STANDS4 LLC, 2024. Web. 1 May 2024. <https://www.abbreviations.com/term/1396875>.
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