text: what is the role of a bond issue manager? what is issue management?   wow. that first person totally missed the question. i trade munis. i can tell you exactly what the manager of a bond issue does.  the manager of the bond issue decides, along with the members or co managers if there are any, what coupons and what structure to do on a bond issue. for example, lets say i was underwriting state of minnesota go bonds and i was lead mangager. mn might want $200mm. i might have customers that want par type coupons for the first 10 years, and have institutional customers that want premium coupons 11 and longer years. so, i structure $15mm per year from 2007 thru 2016 as par coupons, and i then do a $25mm term bond as 5 1/2% coupons due in 2020 at a 4.7% yield and $25mm term bonds as 5 1/2% in 2025 as 4.85% yield. when mn signs off on the deal, i decide which customers get which bonds and how many. that is what a bond issue manager does.