Negotiated Sale

The sale of a New Issue of Bonds by an Issuer through an exclusive agreement with an Underwriter or Underwriting Syndicate selected by the Issuer. A Negotiated Sale is distinguished from a Competitive Sale, which involves a public bidding process for the purchase of the Bonds.

In Contrast With

Competitive Bid / Sale

A method of selling bonds in which one or more underwriters submit proposals for the purchase of the bonds.

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Term of the Week


A meeting of all the parties prior to the closing, often held the day before the closing.