Series 7: 3.3.2.2 Pricing By Competitive Bid

Taken from our Series 7 Top-off Online Guide

3.3.2.2 Pricing by Competitive Bid

Once the previous documents have been prepared, a request has been sent for a bond rating from the credit rating agencies, and the rules for the auction have been devised, the issuer is ready to advertise for bids from underwriters in The Bond Buyer, the major municipals trade paper. The winner of the competitive bid gets to underwrite the issue.

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