verb[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
More example sentences
- 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.
- 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.
- More example sentences
- 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.
- Japan has in effect acted as America's leading sub-underwriter.
- 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.