What are the underwriting methods of corporate bond underwriters?

1. What are the underwriting methods of corporate bond underwriters? The underwriting methods of corporate bonds are: consignment, sales assistance, underwriting and underwriting syndicate. (1) Securities consignment The so-called securities consignment refers to the underwriting method in which the underwriter sells the securities on behalf of the issuer and returns all the unsold securities to the issuer after the sales period. The characteristics of securities consignment are: (1) the principal-agent relationship is established between the issuer and the underwriter. In the process of consignment, the ownership of unsold securities belongs to the issuer, and only the underwriter is entrusted to handle the securities sales; (2) As the promoter of the issuer, the underwriter is not responsible for the securities that cannot be sold, and the risk of securities issuance is basically borne by the issuer itself; (3) Because the underwriter does not bear the main risks, the income (handling fee) is less than that of underwriting. (II) Securities Promotion The so-called securities promotion means that the underwriter purchases the remaining securities (underwriting balance) after the agreed underwriting period according to the underwriting contract, or lends the remaining amount to the issuer to ensure the smooth implementation of the issuer's fund-raising and capital utilization plan. China's securities law classifies balance underwriting as underwriting. (III) Securities Underwriting The so-called securities underwriting refers to an underwriting method in which the underwriter buys all or part of the securities to be issued with its own funds and then sells them to the public, and the unsold part is still held by the underwriter at the expiration of the underwriting period. There are two ways to underwrite securities: one is full underwriting and the other is limited underwriting. Full underwriting refers to all the securities issued by the underwriter, and the total amount of funds that the underwriter will pay to the issuer according to the contract. Quota underwriting refers to the underwriter underwriting part of the securities issued by the issuer. Whether it is full underwriting or limited underwriting, the relationship between the issuer and the underwriter is the relationship of securities trading. The ownership of unsold securities in the underwriting process belongs to the underwriter. (4) Underwriting by an underwriting syndicate. Also known as "joint underwriting", it refers to the underwriting method in which two or more securities underwriters accept the entrustment of the issuer and publicly sell certain securities to the public. An underwriting institution temporarily composed of two or more underwriters is called an underwriting syndicate. Underwriters of corporate bonds have four underwriting methods, which mainly refer to underwriting in securities sales. Mainly, after the bonds are listed, investor suitability management will be implemented, only qualified investors can participate in the transaction, and the transaction behavior of public investors subscribing or buying is invalid. At the same time, the underwriting agency shall verify the contents of the rating report issued by the rating agency, and verify it in combination with the best adjustment.