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Glossary

Placement

The placement of securities is the stage of the issue at which transactions are made aimed at alienating securities to their first owners. At the time of placement, investors buy bonds on the primary market, and in the future they can either hold securities until maturity or call/put option, or sell them on the secondary market, where the securities are traded.

Prior to the direct placement of the bond, the issuer must go through several stages: making a decision on the issue of bonds, choosing the bookrunners, preparing the issue documentation (primarily the issue prospectus), premarketing and road-show. After going through all these preparatory stages, the issuer proceeds to the placement with the help of financial intermediaries.

There are two types of placement: public and private. A private placement is a placing among a predetermined and known circle of investors. Public placement is issuance of the bond on the market among a wide range of people. Placement can be carried out by means of open and closed subscription, as well as conversion of some issues into others. The placement formats can be book-building, price or coupon auction.

Information about the bond placements can be found in the "Corporate Actions" - "Placements" section at the Cbonds website at the link: https://cbonds.com/calendar/placements/
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