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2 day course on Syndicated Lending
This course examines the structure of this sector of the
market, the various players who operate in the sector and
their requirements.
It will also look at the process of syndication from bidding
for the mandate to closing and examine the current trends
and developments in the global syndicated markets.
Day one
Objectives:
To understand the reasons for the existence of the syndicated
loan market, the different roles of the participants in the
market, and how it satisfies their different needs.
Overview of the Syndicated Loan Market
- What is a Syndicated Loan?
- Why it exists?
Bi-Lateral versus Syndicated
Examining the rationale between bilateral and syndicated
facilities
Roles of Borrower and Arranger
Looking at the differing aspects as viewed by the borrower
and arranging/lending bank
Types of Syndicated Facilities
Examining the different structures and characteristics for
differing facilities including:
- Term Loans
- Revolving Credits
- Multiple Option Facilities
- Multi-Currency Loans
Transferable Loans and the Secondary Loan Market
How the loans can be transferred and why?
Pricing Considerations for syndicated loans taking into
account
- Types of Loans
- Banker's View-Point
- Borrower's View-Point
Participation
- What issues will participants in a syndicate look at?
- How to be a syndicate member?
- How much?
Internal Authorisation Procedures
Day two
Objectives
To understand the process of loan syndication from the bidding
stage through documentation to the loan administration procedures.
Winning the Mandate
- Examining bidding for the Mandate
- Structuring and Market Strategy
- Underwriting
- Timetable
Risk versus Reward
A case study demonstrating risk versus reward will be used.
Preparing an Information Memorandum
Participants will be given information on a particular company
and will prepare an information memorandum.
Loan Documentation
- Issues
- Legal Clauses
- Restrictive and other Covenants
A Syndicated Loan Agreement will be examined and the relevant
clauses discussed.
The Agency Function
Recent Trends and Issues in the Syndicated Loan Market
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