Absatzzusage

Absatz (“sales/turnover”) +‎ Zusage (“promise/commitment”)

• IPA^(key): [ˈapzat͡sˌt͡suːzaːɡə]
• Hyphenation: Ab‧satz‧zu‧sa‧ge

Absatzzusage f (genitive Absatzzusage, plural Absatzzusagen)

1. (finance) best efforts underwriting (an agreement where an underwriter promises to make a best effort to sell as much of a securities issue as possible, but does not guarantee the sale or buy the remaining shares)

   Bei einer schwindenden Bonität des Emittenten weigern sich Banken oft gegen eine Festübernahme und bieten stattdessen nur eine Absatzzusage an.

   When the issuer's creditworthiness declines, banks often refuse a firm commitment underwriting and instead offer only a best efforts underwriting.

• Best-Efforts-Zusage (anglicism, common in international finance)
• Platzierungszusage (commitment to place/sell securities)

• Festübernahme (firm commitment underwriting where the bank guarantees the purchase)
• Vollübernahme (full underwriting/takeover of an issue)

• Emissionsgeschäft (the business of issuing securities)
• Zusage (promise or commitment)

• Basiswert (the underlying security or financial instrument being sold)
• Emittent (the entity for whom the shares or bonds are being marketed)
• Platzierungsrisiko (the risk of failing to find buyers, which remains with the issuer in this case)
• Übernahmeprovision (the fee paid to the bank, usually lower for best efforts than for firm commitments)

• absetzen (to sell, market, or dispose of goods/securities)
• Absatzmarkt (the market where products or securities are sold)

• “Absatzzusage” in Digitales Wörterbuch der deutschen Sprache
• “Absatzzusage” in Duden online