syndicate

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

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 ?
Moreover, journalists renewed calls for a protest on Thursday at the syndicate, amid other possible demonstrations and assemblies next week in a series of escalatory reactions.
Brougher Syndicate; CU Syndicate; Fust Riverside Syndicate; The Fremont Syndicate; Gamma Re Syndicate; Golden Hill Syndicate; Home Re Syndicate; MONY-Re Group; Republic Western Syndicate; and Sentry Syndicate.
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.
In addition, some syndicates offer paginated products that give newspapers a chance to earn enough ad revenue to make money from the product, or at least break even.
She said that the committee includes people from agencies that represent spread vehicles, or syndicates that include both corporate capital and traditional Names.
But Cooley plans to create an Organized Crime Division with a large team of investigators and prosecutors to focus on ethnic syndicates and hate groups.
Moreover, "during the fifty years [sic] between 1883 and 1913 more than forty such syndicates were founded in Loir-et-Cher.
Your Triple Chance Lottery ticket makes you a member of a syndicate with other Record readers and gives you three chances to get lucky on the lottery.
This has been the substance of many lawsuits, including one by 3,000 plaintiffs against a syndicate called Gooda Walker for a claim of $1.
Since representation was institutionally based, the professional syndicates, which represent the newly politicized organizations, were, included.
The average combined ratio of syndicate 570 is slightly higher at 88%, reflecting the exposure of 570's book to catastrophe events.
The meeting, which was closed to the press and the public, was held in "a friendly atmosphere", according to a source in the syndicate.