Underwriting
buying an issue outright and reselling it to investors
In more detail
A placement guarantee: the bank undertakes to buy the whole issue at an agreed price, resell it to investors and keep the difference.
It was invented so that the issuer gets its money on a known day and in a known amount, without depending on the mood of the market.
Where it appears in the course
In the academy “Underwriting” is not a definition but an operation: you post it yourself and watch what it does to the balance sheet.