Bookrunner definition

Bookrunner is a bank appointed to run the books during the execution phase of syndication or during the security issuance, with responsibility for issuing invitations, disseminating information to interested banks and informing both the borrower and the management group of underwriters of daily progress. In security issuance deals there is usually more than one bookrunner, and they are called joint bookrunners. However, if there is no further syndicate involved in the execution of the offering, the bank executing the deal is called the sole bookrunner.

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