The Loan-Bond Tag Team

The Loan-Bond Tag Team

Loans

Syndicated lending has always been a clubby sort of business, spared the scrutiny of the public bond and equity markets. Bankers and borrowers hashed out loan terms and chipped away at basis points over tennis or a round of golf. But billions of dollars of losses in Latin America, an intensifying focus on risk management and the rise of competitive financing in local markets are redefining the once comfortable world of syndicated lending. Quantitative models, not relationships, drive credit decisions and banks have incorporated lending into a wider suite of international and local debt products. Bank for International Settlem

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