Hey Guys,
I have a quick question, usually for a municipal bond, would the underwriter usually buy up all the bonds from the issuer and then go about slowly selling it off to investors? Could anyone be as kind as to give me a overview of what happens? Thank you!!!!
| +326 | UBS Tech MD hires Son (from no-name college) as an Intern | 57 | 18h |
| +253 | Evercore Intern Seizure | 38 | 5h |
| +90 | [Official] 2026 IB Analyst Bonus Megathread (with 2025 Consolidated Pay and Perks/Benefits) | 12 | 2d |
| +55 | Is DCM actually underrated ? | 21 | 17h |
| +55 | JPM M&A is Gone??? Purely Coverage Banking??? | 22 | 8h |
| +46 | Are all Tech / TMT groups sweaty? | 33 | 1d |
| +43 | Losing my personality in Banking | 7 | 1h |
| +39 | Am I behind? 31 Year Old Analyst | 9 | 1d |
| +39 | Associate & Above IB exits | 16 | 2d |
| +31 | Incoming IB Analyst: Best Ways to Prepare? | 8 | 2d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
There is a schedule for each issuance. The bonds basically have their version of an IPO, either by competitive or negotiated sale to determine the yield they sell at. Institutions place their orders for each bond in a series, and then the underwriting institution will determine the allotment that each party will receive.
Vero rem eveniet molestias et eos laboriosam. Minus sed nobis quos aut doloremque placeat. Et magni ducimus amet dolor aut.
Adipisci et vel pariatur necessitatibus numquam. Deleniti accusamus et velit ipsa repudiandae omnis et molestias. Velit commodi fuga ipsa quia dolor ipsam nulla.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...