Module III· DCM — Investment Grade & Senior DebtIntermediate
Question
What is a reverse inquiry, and how is it used in the DCM process?
Answer
Reverse inquiry occurs when an investor approaches a bank or issuer with demand for a specific security, tenor, currency, or structure. It can lead to a private placement or influence public bond timing and structure. Reverse inquiries help issuers gauge demand but must be managed carefully to avoid selective disclosure issues.