One of the mysteries of the English language finally explained.
Underwrite (part of a liability underwritten by another)‘they are planning to tax pension funds' profits from sub-underwriting stock market flotations’
- ‘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.’
- ‘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.’
- ‘An underwriting bank can enter sub-underwriting agreements with others, under which the latter agree to underwrite a certain amount of the securities.’
- ‘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.’
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