Series 52: 3.2.3.2. Agreement Among Underwriters

3.2.3.2.  Agreement Among Underwriters

If a syndicate is to be formed, the issuer may select co-managers from competing firms with the lead underwriter coordinating their activities. Or it may leave the choice of a syndicate to the lead underwriter. Once the syndicate is selected, the process of structuring the bond issue and completing the other origination tasks is undertaken, mainly by the lead underwriter and the issuer.

The syndicate will engage in presale marketing with potential investors and negotiate interest rates with the issuer. Since the syndicate already has been approved to market the