tap issue

Tap Issue

An issue of a bond that is not placed immediately with investors. That is, the issuer authorizes the bond and makes it available, but holds it back until it needs or desires the cash flow that the sale of the issue would bring. The French and British governments are the most common tap issuers. A tap issue is also called tap stock.

tap issue

the issue of TREASURY BILLS and BONDS by the Bank of England at a predetermined price to government departments, which have short-term financial surpluses as a means of covering some of the financial deficits of other government departments. Contrast TENDER ISSUE.
Mentioned in ?
References in periodicals archive ?
This latest tap issue by AMPIL demonstrates strong institutional demand for these assets and we expect AMPIL to make further tap issues next year.
The Company announces the tap issue of 150,000 Redeemable Participating Preference Shares of [pounds sterling]0.
Recent work includes advising Sanctuary on the tax aspects of its PS150m secured bond tap issue.
Airport operator BAA Limited announced on Thursday that it has raised GBP150m through a tap issue of its index-linked bond maturing in December 2039, to refinance existing debt.
During the year the company successfully completed an pounds 85m tap issue of index linked bonds, demonstrating continued strong support for the business in the capital markets.
These include issuing notes as part of a tap issue of an existing securitisation transaction.
After the legal formalisation of the tap issue on 21 November 2005, the fund will own a total of 18 CHs issued by the following nine Spanish financial institutions as collateral for the issuance of the fixed-rate notes.
The Company announces the tap issue of 100,000 Redeemable Participating Preference Shares of [pounds sterling]0.
750,000,000 tap issue by the Republic of Kenya of its debut issue of U.
ON on its acquisition of Matrix (the UK market leader in energy management and efficiency services); the $219 million disposal of SCH's Specialist Distribution Group; the PS97 million tap issue of secured notes and PS63.
Because Grimes exemplifies the younger generation of tappers--for one thing he's influenced by hip hop, for another he's devoted to becoming an all-around entertainer--we wanted to feature him in our tap issue.
Standard & Poor's today assigned its preliminary ratings to the GBP250 million tap issue to be issued by Punch Taverns Finance PLC, a special purpose entity (see list below).