Selling Syndicate


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Selling Syndicate

A group of underwriters that issues a firm's securities by buying them from the issuing firm and reselling them to a group of smaller brokerage firms for eventual sale to individual investors.

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.
References in periodicals archive ?
The underwriters of the offering have advised the company that certain members of the selling syndicate have indicated that they do not intend to complete the purchase of the units.
Retail-oriented regional investment banking firms across the nation will also be included in the selling syndicate.
The offer, which will be structured as a tender offer on a fully paid basis, will be conducted through regional selling syndicates covering all the principal markets of the world.