underwriting syndicate

简明释义

承购银行,承购组合

英英释义

例句

1.The underwriting syndicate was able to raise $500 million for the new infrastructure project.

该承销财团成功为新的基础设施项目筹集了5亿美元。

2.The lead bank in the underwriting syndicate negotiated favorable terms for the issuer.

该承销财团的主导银行为发行方谈判了有利条款。

3.The investment bank formed an underwriting syndicate to manage the initial public offering (IPO) of the tech startup.

投资银行组建了一个承销财团来管理这家科技初创公司的首次公开募股（IPO）。

4.In a competitive market, having a strong underwriting syndicate can significantly impact the success of a capital raise.

在竞争激烈的市场中，拥有一个强大的承销财团可以显著影响资本募集的成功。

5.Each member of the underwriting syndicate took on a portion of the risk associated with the bond issuance.

每个承销财团的成员承担了一部分与债券发行相关的风险。

作文

In the world of finance and investment, the term underwriting syndicate refers to a group of investment banks or financial institutions that come together to facilitate the underwriting of securities. This collaborative approach allows these institutions to share the risks associated with underwriting new issues of stocks or bonds. By pooling their resources and expertise, the members of an underwriting syndicate can effectively manage large offerings that might be too risky or complex for a single institution to handle alone. The process begins when a company decides to issue new securities to raise capital. This could be for various purposes such as funding expansion, paying off debt, or acquiring another company. Once the company has determined its need for capital, it typically hires an investment bank to lead the underwriting process. This investment bank acts as the 'lead underwriter' and is responsible for assembling the underwriting syndicate. The lead underwriter evaluates the company's financial health, market conditions, and investor appetite to determine the appropriate price and terms for the securities. After this assessment, the lead underwriter reaches out to other investment banks and financial institutions to form a syndicate. Each member of the underwriting syndicate agrees to purchase a certain portion of the new issue, thereby spreading the risk among themselves. This is particularly important in volatile markets where the demand for new securities can fluctuate dramatically. One of the key benefits of an underwriting syndicate is that it provides a larger pool of capital. Individual investors may not have the resources to buy large amounts of securities, but by banding together, the syndicate can secure enough capital to meet the issuing company's needs. Furthermore, this collaboration enhances the credibility of the offering. When multiple reputable institutions are involved, it signals to the market that the securities are likely to be a sound investment. Additionally, an underwriting syndicate allows for better distribution of the securities. Each member of the syndicate can leverage its own network of clients and investors to sell the securities, increasing the chances of a successful offering. This is particularly beneficial for smaller investment banks that may not have the same level of reach as larger firms. However, the formation of an underwriting syndicate is not without challenges. The members must negotiate the terms of their agreement, including how profits will be shared and how responsibilities will be divided. Disagreements can arise, especially if the offering does not perform as expected in the market. Moreover, each member must conduct its own due diligence to ensure that the securities they are underwriting align with their investment strategies and risk tolerance. In conclusion, an underwriting syndicate plays a crucial role in the capital markets by allowing multiple financial institutions to collaborate on underwriting new securities. This collective effort helps to mitigate risks, enhance distribution, and provide necessary capital to companies seeking to grow. Understanding the function and dynamics of an underwriting syndicate is essential for anyone interested in finance and investment, as it illustrates the collaborative nature of the financial industry and the importance of strategic partnerships in achieving common goals.

在金融和投资的世界中，术语承销联合体指的是一组投资银行或金融机构，它们共同协作以促进证券的承销。这种合作方式使这些机构能够分担与承销新发行的股票或债券相关的风险。通过汇集资源和专业知识，承销联合体的成员能够有效管理可能对单一机构来说过于风险或复杂的大型发行。这一过程始于一家公司决定发行新证券以筹集资金。这可能是出于多种目的，例如资金扩张、偿还债务或收购另一家公司。一旦公司确定了其资本需求，通常会聘请一家投资银行来主导承销过程。这家投资银行充当“主承销商”，负责组建承销联合体。主承销商评估公司的财务状况、市场条件和投资者需求，以确定证券的适当价格和条款。在这一评估之后，主承销商联系其他投资银行和金融机构以形成一个联合体。承销联合体的每个成员同意购买新发行的一定部分，从而将风险分散到他们之间。这在波动市场中特别重要，因为新证券的需求可能会剧烈波动。承销联合体的一个关键好处是它提供了更大的资本池。个别投资者可能没有资源购买大量证券，但通过联合起来，联合体可以确保足够的资本来满足发行公司的需求。此外，这种合作增强了发行的信誉。当多个声誉良好的机构参与时，向市场发出信号，表明这些证券可能是一个稳健的投资。此外，承销联合体还允许更好的证券分配。联合体的每个成员都可以利用自己客户和投资者的网络来销售证券，从而增加成功发行的机会。这对较小的投资银行尤为有利，因为它们可能没有大型公司那样的覆盖面。然而，形成承销联合体并非没有挑战。成员必须协商其协议的条款，包括如何分享利润以及如何划分责任。如果发行在市场上的表现不如预期，可能会出现分歧。此外，每个成员必须进行自己的尽职调查，以确保他们承销的证券与其投资策略和风险承受能力相符。总之，承销联合体在资本市场中发挥着至关重要的作用，使多个金融机构能够协作承销新证券。这种集体努力有助于减轻风险、增强分配，并为寻求增长的公司提供必要的资本。理解承销联合体的功能和动态对于任何有兴趣于金融和投资的人来说都是至关重要的，因为它展示了金融行业的合作性质以及在实现共同目标中战略合作伙伴关系的重要性。