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From:Social and Economic Studies (Vol. 68, Issue 3-4) Peer-ReviewedThe British government redeemed the Slavery Abolition Act loan in February 2015. This loan was contracted by the government in 1835 in order to pay [pounds sterling]15 million (approximately [pounds sterling]200 billion...
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From:Financial Management (Vol. 49, Issue 2) Peer-ReviewedWe study how conflicts within a lending syndicate affect loan contract and syndicate formation. We argue that loan provisions serve an important dual function: In addition to moderating borrowerlender conflicts, they...
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From:Management Science (Vol. 58, Issue 2) Peer-Reviewed
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From:Solid State Technology (Vol. 48, Issue 5) Peer-ReviewedWhile awaiting a final decision from the US Export-Import Bank regarding its requested $769 million loan to purchase US chipmaking equipment, Semiconductor Manufacturing International Corp. (SMIC) reportedly is quietly...
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From:Law and Contemporary Problems (Vol. 73, Issue 4) Peer-ReviewedI INTRODUCTION In early 1992, the Working Committee for Argentina, (1) an advisory committee of eleven commercial banks, commenced negotiations to restructure Argentina's external commercial-bank debt through a...
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From:Law and Contemporary Problems (Vol. 73, Issue 4) Peer-ReviewedI INTRODUCTION This essay reviews the development of the documentation of bank-syndicated credit agreements with sovereign states and state entities during the formative years of the 1970s. One of the main...
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From:International Journal of Commerce and Management (Vol. 19, Issue 4) Peer-ReviewedAbstract Purpose--The purpose of this paper is to detail the findings of a study to determine the viability of Islamic banking as a niche for the Labuan International Offshore Financial Center (IOFC). Labuan was...
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From:Financial Management (Vol. 40, Issue 2) Peer-ReviewedLenders who make large funding commitments earn higher rates of return than those who make smaller commitments. We analyze a data set of sovereign syndicated loan contracts to document study and this phenomenon. We show...
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From:Quarterly Journal of Finance and Accounting (Vol. 54-4, Issue 3) Peer-ReviewedSponsored loans are issued with the assistance of private equity firms, which negotiate terms on behalf of the borrower. We analyze the impact of engaging private equity sponsors on the cost of syndicated loans and the...
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From:Financial Management (Vol. 35, Issue 4) Peer-ReviewedWe reject the hypothesis that investment and commercial banks have identical loan-pricing policies. We find that compared to commercial banks, investment banks lend to less profitable, more leveraged firms, price...
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From:Financial Management (Vol. 33, Issue 3) Peer-ReviewedWe examine the size and composition of commercial lending syndicates. Syndicates are smaller and more concentrated when there is little information about the borrower, when credit risk is relatively high, and when a...
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From:Financial Management (Vol. 39, Issue 1) Peer-ReviewedLoan syndication involves a repeated game between lead banks and syndicate members. Lead banks do not use their private information to exploit syndicate participants but rather focus on accurately certifying loan...
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From:Law and Contemporary Problems (Vol. 73, Issue 4) Peer-ReviewedI INTRODUCTION Over the first half of the 1980s, the composition of new international credit shifted from mainly syndicated bank loans to predominantly capital-markets instruments--that is, securitized credit. (1)...
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From:Financial Management (Vol. 37, Issue 3) Peer-ReviewedThe impact of past syndicate alliances on the consolidation of financial institutions is examined. The odds of two lenders combining increases with the intensity and exclusivity of their prior syndicated loan alliances....
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From:Journal of Risk and Insurance (Vol. 82, Issue 1) Peer-ReviewedThis article tests for asymmetric information problems between the lead arranger and the participants in a lending syndicate. One problem comes from adverse selection, whereby the lead has a private informational...
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From:Law and Contemporary Problems (Vol. 73, Issue 4) Peer-ReviewedI INTRODUCTION In the 1970s, emerging-market sovereign governments went on a borrowing spree. They had little trouble finding commercial and official sources of loans. Commercial banks lent large sums of money to...
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From:Business Lawyer (Vol. 64, Issue 3)Lawyers and law firms have been acting as lead counsel in syndicated lending transactions for many years, but without much guidance, written or unwritten, concerning the duties and responsibilities of being lead...