mandatory tender bond

mandatory tender bond

A bond with a long maturity but a shorter-term (generally six months to five years) mandatory tender date. Unlike an ordinary put bond, a mandatory tender bond is put back to the bondholder who does not take action to roll the bond into the next tender period. The interest rate is adjusted on the mandatory tender date.
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However inclusive of those mandatory tender bonds, coverage would remain over 1.25x.
--$200 million series 2018B mandatory tender bonds; and
AAH's self-liquidity supported demand debt is comprised of $70 million of Windows (due seven months after a put) and $43 million of series 2008A-3 mandatory tender bonds (with a tender on May 1, 2019).
These are--Approximately $200,000,000 subseries 2018A-1 (mandatory tender bonds) and --Approximately $300,000,000 subseries 2018A-2 (mandatory tender bonds) Fitch has assigned an 'F1+' rating to approximately $500 million transportation revenue bond anticipation notes (BANs), series 2018A, currently planned to mature on Aug.
The series 2016 bonds are expected to be issued as a mix of tax-exempt and taxable fixed-rate bonds, tax-exempt mandatory tender bonds and tax-exempt variable rate demand bonds.