A group of investment banks that work together to sell new security offerings to investors. The underwriting syndicate is led by the lead underwriter. See also: lead underwriter. Bloomberg Financial Dictionary
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underwriting syndicate UK US noun [C]
► STOCK MARKET a group of financial organizations that underwrites new shares, bonds, etc.: »
The non-government bonds will be sold through a full auction on the Tokyo market, rather than through an underwriting syndicate.
► INSURANCE a group of people or companies that underwrites insurance policies and pays out money in cases of damage or loss: »
It is not really an insurance company, but a society of members who form underwriting syndicates to accept risk.
Financial and business terms. 2012.