A Global Overview of the Syndicated Loans Market

Yener Altunbas, Blaise Gadanecz and Alper Kara
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Alper Kara: University of Leicester

Chapter 2 in Syndicated Loans, 2006, pp 6-14 from Palgrave Macmillan

Abstract: Abstract Syndicated loans are credits granted by a group of banks to a borrower. They are hybrid instruments combining features of relationship lending and publicly traded debt. They allow the sharing of credit risk between various financial institutions without the disclosure and marketing burden that bond issuers face. Syndicated credits are a very significant source of international financing, with signings of international syndicated loan facilities accounting for no less than a third of all international financing, including bond, commercial paper and equity issues (Figure 2.1). This chapter describes the functioning of this increasingly global market, focusing on participants, pricing mechanisms, primary origination and secondary trading.

Keywords: Credit Risk; Secondary Market; Loan Portfolio; Primary Market; Relationship Lending (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-59723-5_2

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DOI: 10.1057/9780230597235_2

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