证券公司是我国投资银行体系中的主体，其业务主要是从事证券发行承销和二级市场交易业务。
The securities firms is a subject in the system of investment banks of our country, their business is mainly engaged in securities issue and second marketing .
去年，一些银行急于筹资，而一些公司要在低利率水平下再融资令债券发行业务繁荣，诸如此类支持承销业务的若干趋势逐渐衰减。
Several trends that buoyed underwriting last year, such as Banks' rush to raise capital and the boom in bond issuance as companies refinanced at low rates, have fizzled.
第一种类型，承销人有购买股票的选择权、并有权决定是否出售股票，如果不成功，可以取消发行、并放弃一切费用。
With best efforts, the underwriters have the option to buy and authority to sell securities, or if unsuccessful, may cancel the issue and forgo any fees.
可次级承销商也在抱怨分得的战利品没有随之增加，因为他们认为投资银行对自身承担的风险漫天要价——那时发行价格低于市场价格的40%，这样，在投资银行血本无归之前，股票市场就不得不跳水了。
They think Banks were overpaid for the risks they took. Issues were priced as much as 40% below market prices so stocks would have had to plunge before Banks would be out of pocket.
随后进行了一场关于是否应该运用债券承销中的“不可抗力”条款的争论，最后这场发行被重新定价并重新发行。
After a debate about whether to exercise the bond's force majeure clause, the issue was repriced and relaunched.
这可能重新引发市场争论，即在中国投资者对新股发行需求强劲的背景下，承销商是否在定价方面过于谨慎。
That could help rekindle the debate over whether IPO managers have been excessively cautious in their pricing, given the frenzied demand from Chinese investors for new offerings.
到2009年平均承销费用上升到了占交易总额的3%，而这一年认股权发行快速增长(见图)。
Average fees had risen to over 3% of the deal's value by 2009, a bumper year for rights issues (see chart).
承销费用高昂的原因是：在发行新股时，企业通常不会过多和投行讨价还价。
The reason charges are so high is that firms issuing equity often fail to drive a hard bargain with their bankers.
第二十三条证券公司承销证券，应当同发行人签订代销或者包销协议，载明下列事项。
Article 23. The following shall be included in the underwriting or sole agency agreement signed between a securities company and a stock issuer.
人人IPO的承销商队伍包括摩根士丹利（Morgan Stanley）、德意志银行（Deutsche Bank）和瑞信（Credit Suisse）等投行。 这些承销商拥有一项超额发行权，如果需求很高的话，他们有权额外销售800万股。
Underwriters – led by Morgan Stanley, Deutsche Bank and Credit Suisse – have a greenshoe option to sell another 8 million shares if demand is high.
银行可以承销或参与承销任何实体或企业发行的、目的与银行宗旨一致的证券。
The Bank may underwrite, or participate in the underwriting of, securities issued by any entity or enterprise for purposes consistent with the purpose of the Bank.
最终说明书(发行说明书)完成公开声明书和红鲱后承销商向潜在投资者发出的最终说明书。
Prospectus, final (Offering Circular) the final prospectus sent by underwriters to prospective investors following filing of the registration statement and the red herring.
发行公司收到的承销价格与公众支付的实际发行价值之间的差额。
Gross Spread The difference between the underwriting price received by the issuing company and the actual offering price to the public.
发行价格及发行方式是否合理，关系到发行是否成功，也关系到发行人、投资者以及承销商各方的利益。
Whether the price and method of issue are reasonable is close to the success of issue as well as the interests of issuer, investor and underwriter.
对于一些人来说，这是一个与具有结构性和成本优势的平台合作发行、承销和小额贷款的机会。
For some, it's an opportunity to collaborate with platforms that have structural and cost advantages when it comes to originating, underwriting and servicing smaller-ticket loans.
公司向社会公开发行新股，应当由依法设立的证券经营机构承销，签订承销协议。
A public offer of new shares shall be underwritten by a legally established securities institution and an underwriting agreement shall be executed.
如果公司发行新证券，承销商的佣金计入发行价格里。
If a company issues new securities, the underwriter's commission is not calculated in the issue price.
投资银行相当于股票承销人或代理商，作为股票发行者和投资者之间的媒介。收藏。
An investment banking firm ACTS as underwriter or agent, serving as intermediary between an issuer of securities and the investing public.
另一种解释是遭受重创的银行债券交易机构不愿意承销象希腊、爱尔兰等小国发行的债券，这使得这些小国的国债价格下跌。
Another was that the bond-trading arms of bombed-out Banks were less willing to make markets in the issues of small countries, such as Greece and Ireland, which left their prices unmoored.
指由债务人给予主要经办人或主承销商按商定条件安排贷款或发行债券的授权。
The authority given by a borrower to the lead manager to proceed with a loan or bond issue on the terms agreed.
发行人发行普通公司债者，得免出具证券承销商评估报告及律师法律意见书。
If the issuer issues ordinary corporate bonds, it can be exempted from providing a securities firm evaluation report and legal opinion.
发行人发行普通公司债者，得免出具证券承销商评估报告及律师法律意见书。
If the issuer issues ordinary corporate bonds, it can be exempted from providing a securities firm evaluation report and legal opinion.
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