syndicate

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Syndicate

A group of banks that acts jointly, on a temporary basis, to loan money in a bank credit (syndicated credit) or to underwrite a new issue of bonds.

Syndicate

1. In banking, a group of banks that each lend an amount of money to a borrower, all at the same time and for the same purpose. The banks in a syndicate cooperate with each other for the duration of the project, even if they are otherwise competitors. Bank syndicates usually only lend large amounts of money. Every syndicate is a temporary arrangement.

2. In investment banking, a group of underwriters responsible for placing a new issue of a security with investors. As with banking syndicates, the members of an underwriting syndicate work together for the duration of the project. Every syndicate is a temporary arrangement. It is also called a purchase group or a selling syndicate.

syndicate

A combination of investment banking firms that bids on a new security issue and then sells it if the bid is successful. The syndicate disbands when the security offering has been completed. Syndicates are needed to spread the risk and obtain greater financial and marketing resources for large issues. Also called purchase group, underwriting syndicate. See also agreement among underwriters, breaking the syndicate, selling group.

syndicate

To distribute shares of ownership in a partnership or joint venture. For example, a brokerage firm may syndicate ownership in certain oil and gas properties.

Syndicate.

When a group of investment banks works together to underwrite and distribute a new security issue, they are acting as a syndicate.

Syndicates are temporary, forming to purchase the securities from the issuer and dissolving once the issue is distributed.

However, new syndicates, involving some of or all the same banks, form on a regular basis to underwrite each new issue. You may also hear these underwriting syndicates called purchase groups, underwriting groups, or distributing syndicates.

In other financial contexts, syndicate may refer to any group of financial institutions that works together on a particular project. Syndicate also describes a group of investors who make a joint investment in a company.

syndicate

A method of selling real property in which a sponsor—the syndicator—sells interests to investors. At one time limited partnerships were the preferred vehicle.Today tenant-in-common properties (TICs) are extremely popular.

References in periodicals archive ?
At a news conference Friday morning, Gualtieri and Joyce used giant diagrams to explain how the crime ring worked.
Last week's report accused Thaci of heading a crime ring during and after the Kosovo war in the late 1990s, which killed opponents and trafficked in drugs and organs taken from murdered Serbs.
The organized crime ring cited by the prosecution allegedly is headed by Arthur Gianelli, brother-in-law of John J.
Interpol has reportedly joined in the search for the paintings and Rocha said the crime may have been committed on behalf of an international crime ring.
Worcester Crown Court heard a two-year undercover police operation eventually smashed the crime ring which was based in Hunderton, south Hereford.
In the midst of Micky's own demons haunting her from her hellish past, she manages to not only piece together the puzzle of a grand pornography ring, but also works through her own problems by getting involved with a child psychologist with a penchant for sex, and by actually infiltrating the crime ring.
The last item that the chief saw was a bulletin about the latest organized crime ring stealing stored harvested human organs and selling them on the black market.
Belinda Lovander, a member of the New York City Police Department who wrote 22 fake police reports for auto accidents and helped a crime ring collect $900,000 in medical claims, with $3 million more in claims ready to be filed;
Detectives in Birmingham are investigating an organised crime ring believed to be responsible for the theft of vehicles worth up to pounds 1 million.
The police believe a crime ring involving Japanese and foreign crime syndicates lies behind the operations.
Last year, federal, state and local authorities busted eight people on charges of running an international cargo crime ring.
A model of the law's intended application was the February 1990 closure of a crack house operated by a Cuban gang in Tacoma's Hilltop neighborhood, which resulted in the arrest of 28 members of the infamous Marielitos crime ring.

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