How do you price a new bond issue?
Hi, I'm not in a financing group, so not sure about this, but my understanding would be that for a newly issued bond you would use comps and a new-issue premium to calculate the appropriate spread over MS.
Is this nonsense or at least partly correct? Is there much more to the process of pricing that I'm missing?
If someone could enlighten me that would be much appreciated!
Just type in Excel the =price function
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