公募债券发行人不可能自己去销售他所发行的债券。通常的做法是选择若干家银行（投资银行）和证券公司作为代理人经销，这些代理又分为共同主干事（joint lead managers )，副主干事（co-lead managers)和副干事（co-managers)。这里选用的是某国有商业银行1997年发行美元浮动利率债券同日本大和债券 (香港）有限公司等17家金融机构签订的承销协议书。

(封面）                                            Conformed Copy
                         Dated 23 June 1997
                             XXXX BANK
                                  and
               Daiwa Securities (H.K. ) Limited
                                 and
                              OTHERS
             SUBSCRIPTION AGREEMENT
                           Relating to
                     U.S. $200,000,000
            Floating Rate Notes due 2002
               LINKLATERS & PAINES
                      14TH FLOOR
                 ALEXANDRA HOUSE
                     CHATER ROAD
                      HONG KONG
(内容)

                          Contents
Clause Heading                                             Page
1     Issue of the Notes and Publicity
2     Stabilisation
3     Agreements by the Managers
4     Listing
5     Representations and Warranties
6     Undertakings by the Issuer
7     Conditions Precedent
8     Closing
9     Commission and Concession
10    Expenses
11    Termination
12    Survival of Representations and Obligations
13    Communications
14    Governing Law and Jurisdiction
    SCHEDULE
This Agreement is made on 23 June 1997 between
(1) XXXX Bank (the "Issuer")
(2) Daiwa Securities (H.K. ) Limited ( "DAIWA")
     Bank of China International (H.K.) Ltd. and
     Oversea-Chinese Banking Corporation Limited
     (the“Joint Lead Managers”）
(3)  BEAR STEARNS ASIA LIMITED
     CHINA DEVELOPMENT FINANCE COMPANY
     (H.K.) LTD.
     SANWA INTERNATIONAL FINANCE LIMITED
     SWISS BANK CORPORATION and
     YAMAICHI INTERNATIONAL (H.K.) LIMITED
     (the “Co-Lead Managers”)
(4) ABN AMRO BANK N.V.
     BANQUE BRUXELLES LAMBERT S.A.
     BANQUE PARIBAS
     BARCLAYS DE ZOETE WEDD LIMITED
     COMMERZBANK AKTIENGESELLSCHAFT
     FUJI INTERNATIONAL, FINANCE ( H.K.)
     LIMITED