Tender Panel

DEFINITION of 'Tender Panel'

A method of financing pursuant to the sale of Euro notes through a revolving underwriting facility. Tender panels consist of a select group of 15 to 20 commercial and investment banks and receive permission from a borrower to solicit bids on a best-efforts basis to finance a project. The tender panel also functions as a selling agent for the banks that arrange the credit facility.

BREAKING DOWN 'Tender Panel'

Tender panels are used to place medium-term Euro notes with large numbers of investors. They also separate the bank originating the issue from the purchasing banks. This effectively reallocates the credit risk among a large number of participants.
 

RELATED TERMS
  1. Hedged Tender

    A strategy in a tender offer where an investor short sells a ...
  2. Proration

    A situation during a corporate action in which the available ...
  3. Competitive Tender

    An auction process through which large institutional investors ...
  4. Legal Tender

    Any official medium of payment recognized by law that can be ...
  5. Creeping Tender Offer

    A takeover strategy involving the gradual acquisition of the ...
  6. Schedule 14D-9

    This schedule must be filed with the SEC when an interested party ...
Related Articles
  1. Investing Basics

    How Does a Tender Work?

    Tender usually refers to the process in which governments invite suppliers to bid for the right to work on large projects.
  2. Investing Basics

    Explaining Tender Offers

    A tender offer is a broad public offer made by a person or company to purchase all or a portion of the shares of a publicly traded company.
  3. Stock Analysis

    3 Benefits of a Successful Tender Offer: Cliffs Natural (CLF)

    Learn about the potential benefits that the debt tender offer by Cliffs Natural Resources had for the company's balance sheet and income statement.
  4. A. Introduction: Securities Industries Rules and Regulations

    Federal and state securities laws, as well as industry regulations, have been enacted to ensure that all industry participants adhere to a high standard of just and equitable trade practices. ...
  5. Credit & Loans

    What's a Revolving Line of Credit?

    A revolving line of credit is an arrangement made between a company or an individual and a bank to borrow money on a short-term basis.
  6. Fundamental Analysis

    Capital Budgeting

    Capital budgeting is a planning process used by companies to evaluate which large projects to invest in, and how to finance them. It is sometimes called “investment appraisal.”
  7. Economics

    How Does a Credit Facility Work?

    A credit facility is a loan or collection of loans a business or corporation takes to generate capital over an extended period of time.
  8. Professionals

    Short Term Munis

    FINRA Series 7 Online Study Guide Section 5
  9. Professionals

    What Does Corporate Finance Do?

    Corporate finance is the subset of finance that involves how corporations use leverage to fund their operations and capital purchases.
  10. FA

    The Basics of The Series 79 Exam

    Passing the Series 79 exam is usually necessary for anyone who wants to work in investment banking.
RELATED FAQS
  1. What happens to the shares of stock purchased in a tender offer?

    Learn what a tender offer is, whether it is a good idea to accept a tender offer and what happens to the shares of stock ... Read Answer >>
  2. Why would it be in the interest of shareholders to accept a tender offer?

    Learn when it is in the best interests of shareholders to accept a tender offer. A tender offer is a bid to buy a large portion ... Read Answer >>
  3. How is a tender offer used by an individual, group or company seeking to purchase ...

    Learn how tender offers are used in takeover attempts, and understand the difference between a hostile takeover and a friendly ... Read Answer >>
  4. What usually happens to the price of a stock when a tender offer for shares of the ...

    Learn what happens to the price of a stock when a tender offer is made public. Some of the most contentious takeovers have ... Read Answer >>
  5. Is the high cost of installing solar panels justified by the money saved by going ...

    Find out whether solar panels pay off in the long run and about how long homeowners who purchase them have to wait to break ... Read Answer >>
  6. If a company offers a buyback of its shares, how do I decide whether to accept the ...

    Learn why it may often be in the best interest of a shareholder to accept a tender offer made at a premium to the market ... Read Answer >>
Hot Definitions
  1. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  2. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  3. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
  4. Generally Accepted Accounting Principles - GAAP

    The common set of accounting principles, standards and procedures that companies use to compile their financial statements. ...
  5. DuPont Analysis

    A method of performance measurement that was started by the DuPont Corporation in the 1920s. With this method, assets are ...
  6. Call Option

    An agreement that gives an investor the right (but not the obligation) to buy a stock, bond, commodity, or other instrument ...
Trading Center