MTNs: What's "Fresh Cut", "Slightly Seasoned" and "Seasoned"

I am in the fixed income market since a certain time, but I wonder
what people mean with MTNs named "fresh cut", "slightly seasoned" and
"seasoned". MTNs with this property are offered with high discounts as
of 33% (of 100% nominal value) or something around 60%. Why are they
sold so cheap? The issuer has a A or AA investment grade rating and
the bonds do not seem to have any traps like being callable or
convertible. The issued amount is mostly $500M and above.

(Here is an example, but I did not understand it completely:
)

Perhaps someone could give me some information to understand this
special type of thing.

Thank you all,
Vlad.

Re: MTNs: What's "Fresh Cut", "Slightly Seasoned" and "Seasoned"

wrote on 11/7/07 8:29 PM:

> I am in the fixed income market since a certain time,
SAY WHAT???

The article says they will look at investments as low as $75,000,000.
If you have funds of that size to invest, your attorney should be able to
give you a simple explanation.........

Re: MTNs: What's "Fresh Cut", "Slightly Seasoned" and "Seasoned"

wrote on 11/7/07 8:29 PM:

> I am in the fixed income market since a certain time,
SAY WHAT???

The article says they will look at investments as low as $75,000,000.
If you have funds of that size to invest, your attorney should be able to
give you a simple explanation.........