Definition of sub-underwrite in English:
sub-underwrite
verbsʌbʌndəˈrʌɪtsʌbˈʌndərʌɪt
[with object]Finance Underwrite (part of a liability underwritten by another)
they are planning to tax pension funds' profits from sub-underwriting stock market flotations
Example sentencesExamples
- An underwriting bank can enter sub-underwriting agreements with others, under which the latter agree to underwrite a certain amount of the securities.
- In the seven years to 1994 the highest figure for sub-underwriting income, as a percentage of total investment income, was about 0.34 per cent.
- Goldman Sachs, the arranger of the jumbo €2.4 billion loan facility for Valentia, has been unable to place some of the debt at the sub-underwriting phase of the transaction.
- Last month, The Sunday Business Post revealed details of the collapse of the sub-underwriting phase of the Valentia loan transaction, in which AIB was one of the lead underwriters.
- The implications of the failure of the syndicate at the sub-underwriting phase are potentially very serious for the company, its workers and its customers.
Derivatives
noun
Finance Meanwhile, Balnave is doing the business for a 5 per cent fee, out of which 3 per cent will be paid to the sub-underwriters.
Example sentencesExamples
- Private speculative flows, hitherto supportive of the greenback on the perception that the official sector in effect acted as ‘dollar sub-underwriter of last resort’, would likely cut and run as well.
- In most cases the rights issue or initial public offering was fully subscribed and the primary underwriters and the sub-underwriters received their commission without any further obligation.
- When there is such a deal, underwriters subscribe the bonds by open bidding and then distribute them to sub-underwriters.
- Japan has in effect acted as America's leading sub-underwriter.