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.
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has announced a successful tap issue of EUR50 million of its 2016/2021 bonds, priced at par, the company said.
The acquisition is financed by available cash resources and a tap issue to the company's outstanding bond loan.
Recent work includes advising Sanctuary on the tax aspects of its PS150m secured bond tap issue.
The purchase was funded with the proceeds of an equity tap issue and with available cash.
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.
- Senior secured tap issue B+(EXP)'/'RR4(EXP)' rating is withdrawn as the original bond has been increased and the tap no longer exists
Provider of air transportation services Scandinavian Airlines System Aktiebolag, (SAS AB)(STO:SAS) announced on Wednesday the decision to investigate the possibility of a SEK1.0bn tap issue of its bond maturing in November 2022, in the beginning of June 2018.
M2 EQUITYBITES-May 24, 2018-SAS contemplates SEK1.0bn tap issue of bond maturing in November 2022
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 PS63.9 million return of value to shareholders by Dignity; and advising management of epyx, the UK-based internet system and a vehicle repair network, in its sale to FleetCor Technologies.
We loved your May tap issue. Kathak dancers can relate because, though there are many differences, both tap and kathak share intense percussive footwork and rhythmic complexity.
The rating is withdrawn because the tap issue carries the same terms and conditions as the existing notes and is consolidated to form a single series with the USD500 million of notes.