From Longman Business Dictionaryfloaterfloat‧er /ˈfləʊtəˈfloʊtər/ noun [countable]1FINANCE a bond with a VARIABLE interest rateThe issue was split into three fixed-rate tranches and one floater.2INSURANCE insurance which covers risks in a number of different places in addition to the particular insurance for each place, for example so that goods stored in different WAREHOUSEs are covered without the insured having to say in advance which warehouse they will be stored in
