Syndicated Loans: A Hybrid Of Relationship Lending And Publicly Traded Debt (palgrave Macmillan Studies In Banking And Financial Institutions)

This book examines the development of the international syndicated credits market over the past three decades. Bringing together views of practitioners and academics it provides original answers to unexplored research questions. With extensive coverage and thought-provoking insights, the book is of value to students, practitioners and academics. In recent years, syndicated lending has accounted for no less than one third of funds raised on financial markets worldwide. This book examines the development of the international market for syndicated credits over the past three decades. It brings together practitioners' and academics' views on this form of financing and provides original answers to previously little-explored research questions. What determines banks' participation choices and supply? What influences the pricing of emerging country loans, particularly in times of crises? What are the differences with industrialised country loans and bonds? With its extensive coverage and thought-provoking insights, the book is of particular value for students, practitioners and academics Front Matter....Pages i-xxi Introduction....Pages 1-5 A Global Overview of the Syndicated Loans Market....Pages 6-14 Historical Analysis, 1970–2004....Pages 15-33 Borrower-Country Economic Structure and the Pricing of Syndicated Loans....Pages 34-70 Lender Behaviour and the Structure and Pricing of Syndicated Loans....Pages 71-100 Banks’ and Financial Institutions’ Decision to Participate in Loan Syndications....Pages 101-125 Comparison of Syndicated Loan Markets with Bond Markets....Pages 126-161 Syndicated Loans and the Financing of Distressed Emerging Markets....Pages 162-182 Facts and Figures, 1993–2004....Pages 183-205 Concluding Remarks....Pages 206-209 Back Matter....Pages 210-255