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 ?
Does the syndicator support real-time distribution?
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.
Rich retransmission consent deals like the one Fox just cut with Time Warner should also create a cash influx, which syndicators hope stations will reinvest in new programming.
Together with the SNTA session, "the syndicators are launching a preemptive strike on broadcast and cable TV," whose formal up-fronts won't kick off until late spring and early summer, says Dick Perin, head of MG/Perin, an independent syndicator based in New York.
Distributors are jealous of their new-found status and do not want syndicators looking into their business.
But tight returns present a particular problem for TVM, which predominantly invests for German funds and syndicators, groups long known for their sensitivity to low cap rates.
As part of the syndication team, she helped form equipment leasing and real estate limited partnerships-working with syndicators, brokers and attorneys.
Domestic syndicators, traditionally NATPE's core constituents, say a January convention increasingly full of dot-commers and foreign TV companies doesn't provide an efficient means of reaching station programmers and advertising buyers anymore.