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 ?
The best introduction to syndicated loans available.
Includes a comprehensive glossary and regulatory guidance making it the essential companion for any syndicated lending practitioner.
AT&T Yellow Pages has used rigorous print-usage research methods for decades and, in fact, was instrumental in guiding the industry to adopt objective, syndicated research methodology.
The group identified and engaged Knowledge Networks/SRI to develop a syndicated research tool to determine usage share objectively and accurately so that advertisers can validate Yellow Pages spending.
Information in connection with the placement of a syndicated loan often includes material, non-public information that should not be viewed by investors who may trade in the stocks or bonds of the borrower.
While the concept of synthesizing data is not new, a dedicated service of analyzing and modeling data from multiple market intelligence sources is unique due to the proprietary nature of syndicated data.
Other Keynote syndicated research (formerly known as Vividence syndicated research) in the travel industry includes specific examinations of the leading online lodging, cruise, rental car and travel package Web sites.
Keynote is the leading provider of customer experience research services, offering both syndicated and custom research examining consumer behavior on the Web.
As a bridge of sorts between private and public debt markets, the syndicated loan market - in which a loan is provided not by one lender, but a group of lending institutions - has emerged as an important investment tool.
In times of adversity, banks can sell portions of the syndicated credits into a relatively liquid secondary market and actively manage the risks in their portfolios.
The desktop product NewsGator for Outlook is a news aggregator that runs in Microsoft Outlook, which allows users to subscribe to syndicated RSS news feeds to be delivered directly into their Microsoft Outlook and Exchange server folders.

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