When does a bond closing typically occur after the sale of the bonds?

A bond closing typically occurs within 10 to 14 days after the sale of the bonds. This timeframe allows for various necessary steps to be completed before the actual closing occurs.

After the bonds are sold, the issuer and the underwriters must finalize the details of the transaction, which includes preparing and verifying legal documents, ensuring compliance with all regulatory requirements, and coordinating the delivery of funds in exchange for the bonds.

During this period, there is also a need to perform due diligence activities that may involve reviewing the offering documents and preparing for the closing itself. The 10 to 14 day period is standard in public finance transactions to ensure that all parties involved can adequately prepare and confirm that everything is in order for the closing to proceed smoothly. This also allows time for various logistical aspects, such as the settlement process and the transfer of bond certificates, to be arranged properly, ensuring all legal and operational steps are met before the transaction is finalized.