Chapter 4 - The major players in the syndicated loans market

Abstract

This chapter describes the major players in the syndicated loans market, and their relative positions in annual league tables. It also considers various examples of structures used in syndicated loans and the various ways in which the arranger and the borrower may agree the loan is to be repaid. This chapter includes the details of a major, recently finalized syndicated loan, with detailed analysis of the structure of the loan and how this is viewed by potential participants in making their credit decisions. League tables are used to analyze the growth of the syndicated loans market, as well as the performance of banks that participate in it. They are also useful to measure the relative performances of different banks in terms of the total value of loans which they arrange in a year. Apart from this, the chapter illustrates some of these league tables to demonstrate the major players in the syndicated loans market in the year 2003, both banks and borrowers.