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.