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presale order

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Presale order
An order to purchase part of a new municipal bond issue that is accepted by an underwriting syndicate before an official public offering.
presale order
An order to buy a portion of a new municipal bond issue before the time at which certain information concerning the issue, such as the coupon, has been determined. Presale orders are permitted with municipal bond issues but not with other security issues because municipal bond issues are exempt from requirements of the SEC.
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