Syndicated lending plays a critical role across international markets, simultaneously facilitating the financing of, most typically, corporate assets whilst enabling banks to more effectively manage their own Balance Sheets, particularly in the judicious use of their increasingly precious regulatory capital, and to generate fee income from the structuring and arrangement of syndicated loans.
The Euromoney Learning Solutions Loan Syndication eLearning programme provides a comprehensive course covering the purpose of syndicated lending, the motivations of participants and the key processes involved in successful syndications. We look in detail at the key role that syndication plays in Balance Sheet management in contemporary banking as well as the important conduit provided by Collateralised Loan Obligations in facilitating participation by investors such as pension funds and other institutional investors. The key characteristics of different regional markets are highlighted, as are the regulatory implications of off-balance sheet refinancing transactions in different jurisdictions.
The principal participants in Loan Syndications are covered in detail, including the key role played by the Mandated Lead arranger. The processes required to ensure successful syndication are also covered, from the initial “beauty parade” through the Due Diligence process and disbursement of funds to the monitoring of the borrower during the life of the loan. We also examine the options available to bankers in structuring syndicated loans to balance the requirements of Borrowers against those of the lenders and investors comprising the syndicate.
We also cover the application of syndicated loans to specialist finance such as Project Finance and Leveraged Buyouts as well as the principal types of syndication ranging from underwritten transactions through to “Best Efforts” and Club Deals. We look at the documentary requirements of syndicated loans as well as the process by which the legal agreements are formed and the protections afforded by the covenants included in the Loan Agreement. Finally we provide insights into the use of Loan Derivative products to manage risk and to tailor the profile of risk and return to match the needs of borrowers, lenders and investors.