Figuring out a financial fiasco
September 10, 2008 04:29PM By Dorn Townsend
From the September issue: Not so long ago, meaning a year ago, when an established company wanted to a buy a building, a bank committed to the loan and sorted out the details of cutting it up into smaller pieces later. But now that the credit crunch has scared lenders, many banks will only commit subject to syndication, the term for chopping up big loans into manageable portions. Today, a deal is only as good as its ability to be parceled out to others to share the risk. If other banks can't be brought in, the deal won't close. more
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