# Tap (also said in German)

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- Post ID: 592918
- Modified: 2023-07-25T21:13:26+00:00
- Language: en

## Definition

A public bond; sometimes also said of a Treasury bill (tap bill). - An issue that is brought to market in separate tranches (tranches: the tap-issue has the exact same maturity and exact same coupon as the outstanding bonds, and is fungible with them; the only adjustment is that the tap bonds are placed at the current trading level) staggered over time (rather to a new bond issue, this process presents several advantages as rapid execution, since no new prospectus is needed, lower arrangement and legal costs, and increased liquidity of the existing bonds). - See issuance, continuous issuance, staggered issuance. Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

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