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.

  1. Promissory Note

    A financial instrument that contains a written promise by one ...
  2. Eurocurrency

    Currency deposited by national governments or corporations in ...
  3. Revolving Underwriting Facility ...

    A form of revolving credit in which a group of underwriters agrees ...
  4. Euro Notes

    Legal tender in the form of a banknote that can be used in exchange ...
  5. Financing

    The act of providing funds for business activities, making purchases ...
  6. Investment Banker

    Someone working at an institution raising capital for companies, ...
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