ICMSA Publication


ICMSA Bulletin 150123/32: Closing mechanisms in the international primary market

With the continued globalisation of the international primary market and particularly on the back of the opening up of new regions and the addition of new players, the ICMSA has raised concerns around the development of inappropriate primary distribution methodologies being adopted within the international primary market.

As a reminder to market participants, there are two closing arrangements that are commonly adopted i.e. either a syndicated closing or a non-syndicated closing.

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