*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
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
MSc Finance students; MBA students in Finance options; new finance professionals
Syndicated Lending, 1st Edition
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.