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 Banking

    A specific division of banking related to the creation of capital ...
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