What is the total takedown received by the underwriting syndicate per bond?

The total takedown received by the underwriting syndicate per bond reflects the amount the syndicate earns for each bond sold in the offering process. This amount is derived from the difference between the price at which the bonds are sold to the public and the price at which they are purchased from the issuer.

In this context, a total takedown of $10.00 means that for each bond sold, the syndicate retains $10.00 after covering their costs and obligations. This figure represents the gross profit to the syndicate, emphasizing the essential role they play in underwriting and distributing the bonds in the market.

Understanding the total takedown is crucial for evaluating the profitability of underwriting activities and assessing the overall structure of bond offerings, as it directly affects how much compensation underwriters receive for their services. This is particularly significant for investors and issuers alike, as it can impact the pricing of bonds and the overall supply-demand balance in the market.