When an investment banker purchases an offering from a bond issuer and then resells it to the public,this is known as a

Name: When an investment banker purchases an offering from a bond issuer and then resells it to the public,this is known as a
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This is known as a firm commitment underwriting, where the investment banker purchases the entire bond issue from the issuer and then resells it to the public at a higher price, earning a profit on the spread between the two prices.

When an Investment Banker Purchases an Offering from a Bond