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A syndicate is a self-organizing group of individuals, companies, corporations or entities formed to transact some specific business, to pursue or promote a shared interest. Etymology [ edit ]
The financial terms are set out in a “term sheet” which states the amount, term of the loan, repayment schedule, interest margin, fees any special terms, and a general statement that the loan will contain representations and warranties. This might include terms which relate to when the loan is to finance a company acquisition or a large ...
Upon final signing of the full syndicate, the Bookrunner title may be forfeited to another lender. If amendments are made to the loan, the banks that committed to the original loan may retain their involvement in the deal as "Mandated Arrangers". The Bookrunner title is then assigned to the banks comprising the new lender group.
Syndicated procurement is a procurement method whereby a syndicate manager groups together multiple concurrent orders from multiple buyers with intent to reduce the purchase price or facilitate delivery. Similar terms in use are "aggregation" and "collective buying".
The boss also gets points from all family business; also see don, chairman. bridge: threat of death; e.g. "our former friend is walking across the bridge". button or becoming a button man: a mafia hit man; or someone who has become a made man. capo: the family member who leads a crew; short for caporegime or capodecina.
The lead bank retains a minority amount of highest quality tranche of the loan while usually maintaining "agent" responsibilities representing the interests of the syndicate of CLOs as well as servicing the loan payments to the syndicate (though the lead bank can designate another bank to assume the agent bank role upon syndication closing).
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The following terms are in everyday use in financial regions, such as commercial business and the management of large organisations such as corporations. Noun phrases [ edit ]