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 ?
Previously, over 600 journalists and public figures have submitted a memorandum to the syndicate in rejection of the list that was also recently approved by the Parliament.
The PPL noted that 71 percent of Lloyd's syndicates have met or exceeded the target for electronic placement of risks, while 58 percent of IUA members have met or exceeded the target.
'She (Mangaoang) could be also being utilized for that unwittingly or wittingly,' Lapena added when asked whether it is possible that Mangaoang is being used by drug syndicates.
The strong stance taken by Home Minister Ram Bahadur Thapa against syndicate and use of force against the pro-syndicate transport entrepreneurs as well as the strong public support to the government move to end syndicate resulted in the complete abolition of syndicate from public transportation sector.
Fahys dismissed speculation that the syndicates in the process of moving to withdraw will seriously impair the Exchange in terms of membership fees and rental fees.
Some of them are clearly run by the syndicate managers as lifestyle businesses where the syndicate owners are in effect paying for that lifestyle.
Head of the Syndicate presented a brief explanation on some of the projects carried out by the Syndicate and the mechanisms of investing them in a way that would contribute to supporting the recourses of the doctors' retirement treasury, and to enhancing the role of the Syndicate.
Past syndicate sales/mergers have included Tribune Media Services absorbing the Los Angeles Times Syndicate, Universal Press Syndicate buying Chronicle Features, and King Features Syndicate purchasing North America Syndicate and the Cowles Syndicate.
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."
Furthermore--as Roger Dion noted in 1934 in his magisterial thesis on the Val de Loire--between Blois and Beaugency there developed the earliest agricultural syndicates in all France; the Syndicat des Agriculteurs de Loir-et-Cher, founded in 1883, became a national model.
Your new Syndicates games card will be in tomorrow's Mirror, with TWELVE free Syndicate Lottery tickets for the weekend draw.