purchase group


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Purchase group

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.

purchase group

See syndicate.
References in periodicals archive ?
Germain Skagias: People who purchase an individual long-term care policy have an average age of 69, but people who purchase group policies have an average age of 43.
Power purchase group on the territory of members of the group for 2015-2017 years.
Wates announced the buyout of Walsall's Purchase Group for an undisclosed amount.