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DictionarySeesyndicateLegalSeeSyndicateSelling Syndicate
Selling SyndicateA group of underwriters that issues a firm's securities by buying them from the issuing firm and reselling them to a group of smaller brokerage firms for eventual sale to individual investors.Syndicate1. In banking, a group of banks that each lend an amount of money to a borrower, all at the same time and for the same purpose. The banks in a syndicate cooperate with each other for the duration of the project, even if they are otherwise competitors. Bank syndicates usually only lend large amounts of money. Every syndicate is a temporary arrangement.
2. In investment banking, a group of underwriters responsible for placing a new issue of a security with investors. As with banking syndicates, the members of an underwriting syndicate work together for the duration of the project. Every syndicate is a temporary arrangement. It is also called a purchase group or a selling syndicate. |