Key parties in debt capital markets

This overview is a guide to the Banking & Finance content within the Key parties in debt capital markets transactions subtopic, with links to relevant materials.

Lead Manager

The lead manager has a pivotal role in the issuance of the debt into the market and will be expected to take the lead on every aspect of the transaction. The issuer will need initially to be advised as to the viability of an issue. There may be little appetite in the market for the proposed issuance or the likely pricing of such an issuance may be too high—these will be matters on which the lead manager can advise. The decision as to whether or not to proceed with the issuance will be coloured by the lead manager’s view. In large standalone issues, there will typically be more than one lead manager (commonly referred to as the joint lead managers). If the duties and distribution of the issue are to be further shared, then co-managers may be involved (see Co-managers).

Issuer

The issuer is the entity wishing to raise finance in the debt capital markets,

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