underwriting syndicate

Also found in: Dictionary, Thesaurus, Legal, Encyclopedia.
Related to underwriting syndicate: Securities Act of 1933

Underwriting syndicate

A group of investment banks that work together to sell new security offerings to investors. The underwriting syndicate is led by the lead underwriter. See also: Lead underwriter.


1. In banking, a group of banks that each lend an amount of money to a borrower, all at the same time and for the same purpose. The banks in a syndicate cooperate with each other for the duration of the project, even if they are otherwise competitors. Bank syndicates usually only lend large amounts of money. Every syndicate is a temporary arrangement.

2. In investment banking, a group of underwriters responsible for placing a new issue of a security with investors. As with banking syndicates, the members of an underwriting syndicate work together for the duration of the project. Every syndicate is a temporary arrangement. It is also called a purchase group or a selling syndicate.

underwriting syndicate

See syndicate.
References in periodicals archive ?
The first hypothesis regarding the role of underwriting syndicate members posits that syndicate members can provide additional information regarding the market demand for an IPO.
Joakim is now suing a Lloyds underwriting syndicate headed by Simon Beale, brokers JH Insurance (Services), and Newmarket-based bloodstock agent Tony Esler, trading as Delta Bloodstock, for damages.
The online unit will offer approximately 15%-20% of its shares to the public through an underwriting syndicate led by Goldman Sachs and Merrill Lynch.
Ault's profits and growth potential attracted an underwriting syndicate of 50 firms led by Dain Bosworth.
and Wertheim Schroder & Co., Inc., will be the representatives of the underwriting syndicate for the offering.
The buildup of Japanese government debt forced changes in the relationship between the Bank of Japan and members of the underwriting syndicate for government bonds.
Freshfields Bruckhaus Deringer ('Freshfields') has advised the underwriting syndicate led by the Joint Global Co-ordinators, Citigroup Global Markets Asia Limited, China International Capital Corporation Hong Kong Securities Limited and Deutsche Bank AG, Hong Kong Branch, for the IPO of Ganfeng Lithium Co., Ltd.
The lead managers of the common share underwriting syndicate were Wells Fargo Securities LLC, Morgan Stanley & Co LLC and UBS Securities LLC.
The underwriting syndicate was led by BofA Merrill Lynch, Citigroup, and Morgan Stanley.
While the deal still makes it the largest sports-team IPO on record, the valuation is a setback for the 134-year-old club, which had to abort plans for an offering in Singapore and then saw Morgan Stanley leave the underwriting syndicate partly due to disagreements over valuation.
The underwriting syndicate led by Morgan Stanley collected a colossal $176 million in underwriting fees, Facebook SEC filings show.
An underwriting syndicate, which also includes members of the board and the management of the firm, guarantees the subscription of shares worth NOK15m.