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The issue or a portion of an issue that already has a buyer or buyers and, for that reason, is not reoffered to the public by underwriters. For example, an investor may purchase a large number of bonds with the stated intent to hold them until maturity. This investor would have no interest in offering them on the secondary market. The underwriter selling the bonds then may indicate that this purchase is "not reoffered," which may or may not affect prices for the remainder of the issue. The MSRB's Rule G-32 requires underwriters to disclose price spreads, including on portions of an issue that are not reoffered. See also: Private placement.
not reoffered (NRO)
Of or relating to an issue or a portion of an issue of securities that already has a buyer and is not being resold to the public by the underwriter.