投资银行学2发行与承销.ppt

合并方案进程：交易后折股价格、比例的确定重要时间点项目的意义：中金的观点多赢局面五、境外上市PART2第二节债券的发行与承销债券的基本知识国债的发行和承销公司债券的发行债券的基本知识债券的基本知识墓碑广告（tombstone）

投资银行地位的见证石内容包含将要发行的新证券的细节及承销团成员的名称。主要包括12类信息，如发行人的名称、发行数额、发行人简介、估计的发行价格、主承销商名称等内容，墓碑广告所包含的内容一般来说没有初步招股说明书的内容详尽。指承销团经常刊登的广告，此种广告经常被框以黑色，因而得名。其目的在于宣布新证券的发行正在进行。26,000,000SharesHartfordLife,Inc.ClassACommonStock(parvalue$.01pershare)Price$28.25PerShareUponrequest,acopyoftheProspectusdescribingthesesecuritiesandthebusinessofthecompanymaybeobtainedwithinanystatefromanyunderwriterwhomaylegallydistributeitwithinsuchstate.ThesecuritiesareofferedonlybymeansoftheProspectus,andthisannouncementisneitheranoffertosellnorasolicitationofanoffertobuy.20,800,000SharesThisportionoftheofferingisbeingofferedintheUnitedStatesbytheundersigned.GoldmanSachsInternationalMerrillLynchInternationalMorganStanleyDeanWitterSmithBarneyInc.CreditSuisseFirstBostonA.G.EdwardsSons,Inc.EdwardD.JonesCo.,L.P.LehmanBrothersPaineWebberIncorporatedPrudentialSecuritiesIncorporatedAdvest,Inc.SanfordC.BernsteinCo.,IncJ.C.BradfordCo.ConningCompanyDainBosworthFox-Pitt,KeltonInc.LeggMasonWoodWalkerIncorporatedIncorporatedPiperJaffrayInc.PrincipalFinancialSecurities,Inc.RaymondJamesAssociates,Inc.TheRobinson-HumphreyCompany,Inc.StephensInc.SutroCo.IncorporatedWheatFirstButcherSingerDowlingPartnersSecurities,LLCInterstate/JohnsonLaneCorporationJanneyMontgomeryScottInc.NeubergerBerman,LLC5,200,000ThisportionoftheofferingisbeinofferedoutsidetheUnitedStatesbytheundersigned.GoldmanSachsInternationalMerrillLynchInternationalMorganStanleyDeanWitterSmithBarneyInc.ABNAMRORothschildBanqueNationaledeParisBarclaysdeZoeteWeddLimitedDresdnerKlein