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Debt Auctions OpenBook is an Internet-based platform for auctioning corporate bonds to both individual and institutional investors. The auctions occur in a defined time window with bonds awarded to winning bidders at the clearing spread – the lowest spread over a selected benchmark Treasury security at which there is enough demand to sell the bonds offered. Companies who auction their debt through OpenBook gain through:
WR Hambrecht + Co continues to identify markets where auctions will benefit investors and issuers. Freddie Mac, one of the biggest buyers of home mortgages in the United States, is using WRH+Co’s core technology in a customized web-based auction for its two- and three-year Reference Note (SM) auctions. Recently Freddie Mac announced a new program, Periodic Repurchase Operations, which are conducted using an extension of the system for Reference Note auctions. Completed offering information for Ford Motor Credit Company and The Dow Chemical Company can be viewed if you click here. For more information please either call our corporate debt department at |