In the context of a syndicated loan, the process by which one lender "sells" a portion of its debt to a syndicate of lenders, so reducing its own exposure but at the same time reducing its reward.

In the context of an issue of gilts, the appointment by the UK Government of a group of underwriters to manage and underwrite an issue of gilts. By underwriting the issue, the underwriters agree to buy the gilts should buyers not be found for the issue.