Bond Pricing and Credit Approval: An Underwriter’s Point of View

Kenneth E. Williams

Municipal Finance Journal, 2003, vol. 24, issue 2, 37 - 44

Abstract: Underwriters are in the business of raising capital for local issuers.They are also in the business of placing that debt, because the people to whom they are selling it are really the lenders. Their goal is to get the bonds sold at the best possible rate. In addition, they are also trying to be an intermediary that survives for another transaction with the issuer.

Date: 2003
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