A temporary group of investment banks and broker-dealers who come together to sell new offerings of equity or debt securities to investors. The underwriter syndicate is formed and led by the lead underwriter for a security issue. An underwriter syndicate is usually formed when an issue is too large for a single firm to handle. The syndicate is compensated by the underwriting spread, which is the difference between the price paid to the issuer and the price received from investors and other broker-dealers.


Also referred to as an underwriting group, banking syndicate and investment banking syndicate.

Temporary group of underwriters and investment banks formed for marketing of a new bond or share (stock) issue that is too large for any single entity to handle. It is dissolved after completion of the sale of the securities. Also called underwriting group.

Temporary group of underwriters and investment banks formed for marketing of a new bond or share (stock) issue that is too large for any single entity to handle. It is dissolved after completion of the sale of the securities. Also called underwriting group.

A group of investment banks that work together to sell new security offerings to investors. The underwriting syndicate is led by the lead underwriter