1 : an act or instance of forming a syndicate or bringing something under the control of a syndicate real estate syndication. 2a : the act of selling something (such as a newspaper column or television series) for publication or broadcast to multiple newspapers, periodicals, websites, stations, etc.
What is syndicate in investment banking?
An underwriter syndicate is a temporary group of investment banks and broker-dealers who come together to sell new offerings of equity or debt securities to investors. An underwriter syndicate is also referred to as an underwriting group, banking syndicate, and investment banking syndicate.
What does a syndicate do?
A syndicate is a temporary alliance formed by professionals to handle a large transaction that would be impossible to execute individually. By forming a syndicate, members can pool their resources together, and share in both the risks and the potential for attractive returns.
What are syndication rights?
Broadcast syndication is the practice of leasing the right to broadcasting television shows and radio programs to multiple television stations and radio stations, without going through a broadcast network. Shows can be syndicated internationally, although this is less common.
Is there such thing as a syndicated bond?
None of these bonds are ever referred to as “syndicated bonds”, though — they’re just old-fashioned bonds, or global bonds, or whatever. The existence of a bookrunner and an underwriting syndicate is simply taken for granted. The exception to that rule is when governments issue debt in their own currency.
Who is the syndication desk for a bond issue?
After the syndicate has been formed, the syndication desk will meet with the bank’s institutional client sales team, who has close relationships with institutional investors, in order to exchange with them on the upcoming issue.
What does Greece do with its syndicated bonds?
So Greece has started issuing occasional syndicated bonds, where it does just what companies do when they want to issue debt: it gets a small syndicate of banks together, and the banks underwrite the bond, promising to buy it if there aren’t enough bids in the market.
Why did Belgium launch a syndicated bond deal?
Belgium launched a syndicated bond deal this week after calling off a planned auction of debt due days before. The decision highlights the differing options available for governments when they seek to raise finance from investors. What is a syndicated bond offering?
