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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s (B/Negative) proposed USD100 million tap issue of its existing USD300 million 8.
The transaction was structured as a tap issue into ADBs 10-year bond originally issued in October 2016, raising the outstanding amount to Rs20 billion or $308 millionthe largest local currency bond issued to date by ADB for on-lending purposes in the same currency.
8m, which was financed through existing cash and a tap issue under the company's existing bond loan.
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.
NORDIC BUSINESS REPORT-July 1, 2016-Moberg Pharma announces completion of tap issue of SEK85m
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.
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.
Wind Hellas has also announced a tap issue of EUR75 million senior secured notes which will provide additional liquidity for the firm.