Definitions (2)
Popular Terms
1. Borrowing: Actual transfer of money (called 'advancing of funds') from a lender to a borrower under the terms of a loan agreement. From the borrower's perspective, it is a draw down.
2. Securities trading: (1) Discounted price paid by the underwriter of a new issue. The difference between the par value of the security and its takedown is the underwriter's profit. (2) Portion of an issue that each member of an underwriting syndicate agrees to purchase.

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