Firm commitment underwriting
Definition
An underwriting in which an investment banking firm commits to buy and sell an entire issue of stock and assumes all financial responsibility for any unsold shares. Also known as bought deal.
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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University
Term of the Day
Managing underwriter
The leading firm in an underwriting group, which originates the deal and acts as an agent for the group.
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