Syndicated Lending

Introduction to Syndicated Loans: Characteristics of a Syndicated Loan; The Growth of the Syndicated Loan Market; The Secondary Market in Syndicated Loans; Attractions to the Syndicated Loan Market: The borrower; The participants; The arrangers and the agents; Tombstone graphics; Exercise 1; Answer to exercise 1; Responsibilities and Obligations of Syndicated Loan Participants: The borrower; How the borrower chooses an arranger; The participants and their responsibilities; Other considerations affecting participants in a syndicated loan; Roles of the arranger and the agent; Excerise 2; Answer to Exercise 2; The Major Players in the Syndicated Loans Market: Syndicated loan borrowers by volume; North American syndicated loans; European, Middle Eastern and African syndicated loans; Asia-Pacific syndicated loans; Latin American syndicated loans; Barclays Capital; Structures Used in Syndicated Loans: Overview of syndications; Term of loan; Revolving facilities; Committed and uncommitted facilities; Single currency and multi-currency; Repayment profiles; Repayments via bond issues; Evergreen facilities; Senior debt, mezzanine finance, and subordinated loans; Securitisation; Trade finance; Stock loans; Project finance; Aircraft finance; Ship construction finance; Non-recourse loans; Standby credits; Property finance; Vodafore AirTouch; The Loan Agreement: The preamble; Definitions; The facility; Purpose; Conditions precedent; Utilisation; Repayment; Prepayment; Interest rate; Fees; Taxes and other deductions; Other indemnities; Guarantee; Representations and warranties; Undertakings; Indemnities; Currency; The agent and lenders; Sharing payments; Transfers of participations; Changes of the obligors; Notices; Waivers, amendments and consents; Partial invalidity; Governing law and jurisdiction; Legal opinions; Loan Covenants: The economic function of loan covenants; Types of covenants; Negotiating the covenants in the loan agreement; Functioning of covenants during the loan; Breach of covenant; Other issues; Secondary Loan Markets: History and development of the secondary loan market; Loans syndication trading association (LSTA); Loan market association (LMA); Glossary.

Syndicated Lending aims to increase the readers awareness of the benefits and risks involved in taking part in the Syndicated Loan market.

This book covers: *Who the major players in the syndication loan market are *Why syndication loans are used *Syndication loan structures and documentation *Secondary syndication loan market

*Inspired from the basic entry level training courses that have been developed by major international banks worldwide. *Will enable MSc Finance students, MBA students and those already in the finance profession to gain an understanding of the basic information and principles underlying the topic under discussion *Questions with answers, study topics, practical "real world" examples and text with an extensive bibliography and references ensure learning outcomes can be immediately applied

MSc Finance students; MBA students in Finance options; new finance professionals