bookrunner
English
Etymology
book + runner
Noun
bookrunner (plural bookrunners)
- The main underwriter or manager in equity, debt, or hybrid securities issuances, who syndicates with other investment banks in order to lower the risk.
- 2009 September 9, “Fairfax to raise $1B to reacquire Odyssey”, in Toronto Star:
- Fairfax said it had entered into an agreement with a syndicate of underwriters co-led by CIBC, which will be the sole bookrunner, Bank of America Merrill Lynch and Scotia Capital, for the $1 billion offering.
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