fixed price reoffer

fixed price reoffer: En syndikeringsmetode, der ofte benyttes på obligationsemissioner i Euro market. Medlemmerne i syndikatet accepterer ikke at sælge obligationerne i det primære marked til en pris under FPR før syndikatet er ’brudt’ (normalt inden for 24 timer efter launch date). På denne måde undgås massivt tilbagesalg, mens syndikatet etableres, og managers har større sikkerhed for, at deres fee ikke udvandes. Introduceret af Morgan Stanley i 1989.

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fixed price reoffer — A means of issuing Eurobonds where the lead manager of the issue distributes the bonds to the management group who then place the bonds on with their clients. They are not however permitted to place the bonds at a price below the fixed price… … Financial and business terms
fixed price offer — A method of implementing an offer for subscription or offer for sale. When a company is issuing shares, it will invite applications for shares at a predetermined price under a fixed price offer. The benefit of this is that it eliminates… … Financial and business terms
bought deal — security issue in which one or two underwriters buy the entire issue. Also known as a guaranteed or fixed price sale; opposite of a best efforts sale. Bloomberg Financial Dictionary A means of issuing Eurobonds. The lead manager of the issuer… … Financial and business terms
security — /si kyoor i tee/, n., pl. securities, adj. n. 1. freedom from danger, risk, etc.; safety. 2. freedom from care, anxiety, or doubt; well founded confidence. 3. something that secures or makes safe; protection; defense. 4. freedom from financial… … Universalium

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