bond-basics

Syndicate or Underwriting Syndicate

A group of Underwriters formed to buy a Bond Issue from the Issuer and then offer the Bonds for resale to the public. A Syndicate is organized for the purposes of sharing the risks of underwriting the Bond Issue, obtaining sufficient funds to purchase the Bonds from the Issuer and to get broader distribution to potential investors. One of the Underwriters acts as the Syndicate Manager or lead “manager,” to administer the Syndicate.

See Also

Underwriter

A securities broker or dealer that purchases bonds from an issuer and resells them to investors.

Manager or Co-Manager

One or more members of a bond underwriting syndicate that has primary responsibility for managing the syndicate.

Hudson Yards Rail Yards

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Current Refunding

A refunding in which all refunded Bonds are redeemed within ninety days of the issuance of the refunding bonds.