ABSTRACT
Particularly in the case of frequent issuers, potential lead managers may have
to tender for the mandate through a competitive bidding process.
➤ The length of the pre-launch period depends mainly on:
a) the nature of the issuer (eg: new to the bond market, an infrequent issuer, or a
frequent issuer), and
b) the time needed to prepare the offering circular and negotiate the terms of issue
and issue documents.