bookrunner
Deal's chief coordinator
A bookrunner is the lead investment bank managing a securities offering—an IPO, bond issue, or other capital raise.
The bookrunner coordinates the deal, builds the "book" of investor orders, sets pricing, and allocates shares.
Large offerings often have multiple bookrunners, with one designated as lead or active bookrunner: Goldman Sachs served as bookrunner for the $2 billion offering.
One who assumes financial risk
- syndicateCombined group pursuing shared interest
- IPOFirst public stock offering
- initial public offeringFirst stock market sale
- flotationAbility to stay afloat
listing · roadshow · pricing · allocation · prospectus · oversubscription · stabilization · offer price
One who assumes financial risk
- syndicateCombined group pursuing shared interest
- arrangerOne who orders elements
- term loanFixed-schedule bank advance
- institutional investorsOrganizations investing pooled funds
pricing · allocation · credit rating · covenant · fixed income · interest rate · tranche · mandate
underwriter
One who assumes financial risk
- syndicateCombined group pursuing shared interest
- IPOFirst public stock offering
- initial public offeringFirst stock market sale
flotation · listing · roadshow · pricing · allocation · prospectus · oversubscription · stabilization · offer price · valuation
underwriter
One who assumes financial risk
- syndicateCombined group pursuing shared interest
- arrangerOne who orders elements
- term loanFixed-schedule bank advance
institutional investors · pricing · allocation · credit rating · covenant · fixed income · interest rate · tranche · mandate · tombstone
bookrunnerinvestor
One who allocates capital
buyer · subscriber · institutional investor · purchaser · asset manager
bookrunnerpassive investor
One who tracks, not trades
silent partner · limited partner · retail investor · observer · follower
book, run, runner, books, booked, booking, bookish, booklet, bookkeeper