Bid Wanted In Competition (BWIC)
Contents
Unlocking the Secrets of Bid Wanted in Competition (BWIC)
Discover the ins and outs of bid wanted in competition (BWIC) and how it shapes the securities market. From its definition to real-world examples, this article dives deep into the mechanics of BWIC and its significance for institutional investors and securities dealers.
Demystifying Bid Wanted in Competition (BWIC)
Explore the concept of BWIC and how it functions as a formal request for bids on a package of securities. Learn how institutional investors leverage BWIC to gauge market value and initiate deals with high bidders, while maintaining privacy regarding their financial positions.
The Inner Workings of BWIC
Delve into the intricacies of the BWIC process, from bid-wanted announcements to the submission of orders with predefined spread ranges. Understand how BWICs serve as a means for investors to offload assets, free up cash, and reinvest in new primary market deals.
Real-Life Examples of BWIC in Action
Uncover notable examples of BWIC transactions, such as Park Square's €416m-equivalent loan and bond portfolio sale in 2019. Explore how major banks like Citi and Bank of America are revolutionizing the BWIC process through automation, speeding up transactions and meeting increased market demand.