Term:
Tender panel
Definition:
In a Euronote issue, a group of banks separate from but usually with many members common to the group of underwriters. The panel members bid for any notes issued, up to a predetermined maximum spread. The underwriters take up any notes not bid for or extend loans of an equivalent amount. The tender panel banks expect to place any paper they receive rather than hold it themselves.
Domain:
Finance
Source:
World Bank: Glossary of Finance and Debt