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Business, 02.09.2020 20:01 LilFlamingo247

A syndicate is underwriting $200 million in municipal bonds and sets up a Western underwriting account with 10 syndicate members. Only one syndicate member, Atlas Municipal Securities (AMS), sells out its 10% commitment, amounting to a total of $20 million sold by them. At the syndicate settlement date, $18 million of bonds are still unsold. The financial obligation of AMS is

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