A new issue of a bond that consists of both serial bonds, which mature at regular intervals over a given period of time, and term bonds, which mature all at once. That is, some parts of the split offering mature at various times, but the bulk matures all at once. Both corporate and municipal issuers sometimes make split offerings.
1. The sale of a new bond issue that is composed of serial bonds and term bonds. Many municipal issues are sold as split offerings.
2. A security offering that consists of new and previously issued securities of the issuer. For example, a corporation may undertake an issue of common stock that is composed of new shares and shares being held as Treasury stock.