Syndicated loan: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Administrator (CSV import) |
imported>Doug Williamson m (Spacing 15/8/13) |
||
| Line 1: | Line 1: | ||
A loan from a number of different lenders acting collectively. | A loan from a number of different lenders acting collectively. | ||
Historically the lenders were normally banks, acting through an 'agent bank'. | |||
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 rather than revolving or stand-by tranches. | |||
== See also == | == See also == | ||
| Line 9: | Line 15: | ||
* [[Foreign bond]] | * [[Foreign bond]] | ||
* [[Tranche]] | * [[Tranche]] | ||
Revision as of 13:06, 15 August 2013
A loan from a number of different lenders acting collectively.
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 rather than revolving or stand-by tranches.
