Syndicated loan: Difference between revisions
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==Other links== | ===Other links=== | ||
* [http://www.treasurers.org/loandocumentation Commentary] by The [[Association of Corporate Treasurers]] on syndicated loan negotiation and documentation | * [http://www.treasurers.org/loandocumentation Commentary] by The [[Association of Corporate Treasurers]] on syndicated loan negotiation and documentation | ||
[[Category:Long_term_funding]] | [[Category:Long_term_funding]] | ||
Revision as of 09:20, 11 May 2015
A loan from a number of different lenders acting together.
The lenders form a syndicate and the borrower borrows from the syndicate.
Historically the lenders were normally banks, acting through an 'agent bank'.
More recently some 'non-banks', notably hedge funds or pension funds, will also be parties to syndicated loans – in the primary market for sub-investment grade and, in the secondary market more widely too.
Non-bank lenders are particularly attracted to fully drawn, often fixed rate tranches of a loan rather than revolving or stand-by tranches.
Three types of syndicated loan deal are:
See also
Other links
- Commentary by The Association of Corporate Treasurers on syndicated loan negotiation and documentation
