syndicate

(redirected from syndicates)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia, Wikipedia.

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 ?
He added that among its objectives, the alliance hopes to unite the stances of different syndicates on national issues.
The well bred Chorus Of Angels just failed in the fillies' handicap for the Blue Syndicate at Gowran Park on Sunday, while at Sligo, three syndicates to go close with their charges were White Gold Syndicate (Model County Lass), Urban and Rural Boy's Syndicate (Molly's Boy) and the Goforit Syndicate's Savello finishing third at 20-1 in the concluding bumper.
She said that the committee includes people from agencies that represent spread vehicles, or syndicates that include both corporate capital and traditional Names.
Lloyd's is transforming from a business where we used to have large numbers of small syndicates to a smaller number of large syndicates.
But the fastest-growing crime syndicates in Southern California involve Russians, Armenians and people from Eastern European countries who came to Los Angeles in the decade since the fall of the Soviet Union, officials said.
The distrust of these associations was so strong that it had a negative effect on other voluntary associations: livestock insurance societies stood their best chance of survival in communes without anti-phylloxera syndicates.
TODAY we're giving every reader three Lottery Syndicate Tickets - that's three free chances to win the cool pounds 10million jackpot tonight.
The only way Names could lose money was if their insurance syndicate was forced to pay out more in claims than it took in as premiums.
The executive control over the legislative assembly as a forum for debate and the devising of laws, along with the existing restraints imposed on political action, were revealed to be insufficient following certain developments within the professional syndicates which date back several years.
For the 2012 year of account, Lloyd's Syndicate 570 (also managed by AUL) merged with syndicate 609.
It's impossible to achieve social justice without giving workers their rights," Abbass said, "and workers, in turn, won't be capable of taking their rights in the absence of independent democratic syndicates.
In all, there were 57 races at Irish tracks last week, with syndicates taking 12 and another 13 outfits taking minor honours with their charges.