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- Product code: 19692
- ISBN: 0750659076,
ISBN13: 9780750659079,
208 pages, paperback
Published by Butterworth-Heinemann on 2004
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Description of Syndicated Lending |
"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; and, secondary syndication loan market. It is inspired from the basic entry level training courses that have been developed by major international banks worldwide. It 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. It contains questions with answers, study topics, practical "real world" examples and text with an extensive bibliography and references which ensure that learning outcomes can be immediately applied.
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Contents of 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
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About Andrew Fight |
Andrew Fight is an international banking and training consultant with 20 years banking and finance experience and has trained in Banks and financial institutions throughout the world as well as in the U.K. His expertise is in all aspects of Corporate Credit, Analysing Banks and Financial Institutions Risk, Syndicated Lending, and Project Finance, and he has an ongoing research interest in Debt Recovery and the roles of Credit Rating Agencies in the investor creditor community. Andrew has written and developed course materials for both tailored and public courses for Euromoney Training, BPP Financial Training, Intellexis Training, the French Bankers Training Institute, Bankakademie in Germany, and aid programmes for the European Union, USAID Eurasia Foundation, and Asian Development Bank. He has also written a dozen books on Banking and Finance related subjects for Euromoney Publications, Wiley and Sons, Express Exec / Capstone Publishing. During the last year Andrew has led successful courses in Malaysia, India, Lebanon, Bulgaria, Georgia, Armenia, Algeria, France, Germany, and the UK
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