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 ?
In determining whether buyers' initial and continuing investments satisfy the requirements for full profit recognition, cash received by syndicators should be allocated to unpaid syndication fees before being allocated to initial and continuing investment.
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amp; the Sunshine Band, the Village People and Kool & the Gang are hired by syndicators to perform for station reps at nighttime parties.
The Trigon Engine makes it possible for multi-feed, multi-property syndicators to begin monetizing audiences, regardless of where and how the content is consumed.
Equity financing in excess of $4,100,000 will be provided through the sale of federal low income housing tax credits to WNC & Associates, one of the largest tax credit syndicators in the United States.
for Headline Media Management, a talent management firm that represents anchors, reporters and producers, in news and sports broadcasting, syndication and entertainment, employed by broadcast and cable networks, local stations, independent producers/ syndicators, cable and video-stream Internet entities.
With no deals left in Manhattan, syndicators and vultures are turning to the outerboroughs, with Queens and Brooklyn on top of the to-do list.
Savings and loans, foreign banks, syndicators and life insurance companies threw "tons of money " at debt financing, Kane said.