medium · Debt Capital Markets primary-issuance-syndication
Why would an investment bank's syndicate desk care about the specific rating assigned to a new bond issue?
- It is the figure used to calculate the internal year-end bonuses paid out to the bank's deal team.
- It determines the maximum total commission and fees the bank is legally permitted to charge the issuer.
- It tells the syndicate desk the precise calendar day on which the primary market will reopen for new issuance.
- It dictates which specific investors can be targeted and where the bond's spread should likely be priced.
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