So no need for a prospectus or underwriters? and the time taken...

So no need for a prospectus or underwriters? and the time taken to do so?

The documentation is all pro forma stuff, with basically little more than just the company name and the amount to be raised filled in where there are blanks.

Or do you think investment banks reinvent the wheel every single time and draft all documentation from scratch?

As for underwriters, they too, are lined up with little more than a call from the ECM people at the investment banks, with the accountants signing off on the underwriting agreement documentation the very next business day.