syndicate

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Syndicate

An association of individuals formed for the purpose of conducting a particular business; a Joint Venture.

A syndicate is a general term describing any group that is formed to conduct some type of business. For example, a syndicate may be formed by a group of investment bankers who underwrite and distribute new issues of Securities or blocks of outstanding issues. Syndicates can be organized as corporations or partnerships.Newspaper or press syndicates came into existence after the Civil War. A press syndicate sells the exclusive rights to entertainment features, such as gossip and advice columns, comic strips, and serialized books, to a subscribing newspaper in each territory. These "syndicated" features, which appear simultaneously around the United States, can generate large sums for the creators of the features and for the syndicate that sells them. Similarly, when television programs are syndicated, one station in each television market is allowed to broadcast a popular game show or rebroadcast a popular network series. A syndicated show may be televised at different times depending on the schedule of the local station. In contrast, on network television, a program is televised nationally at one scheduled time.

The term syndicate is also associated with Organized Crime. In the 1930s, the term crime syndicate was often used to describe a loose association of racketeers in control of organized crime throughout the United States. For example, the infamous "Murder, Inc." of the 1930s, which was part of a national crime syndicate, was founded to threaten, assault, or murder designated victims for a price. A member of the crime syndicate anywhere in the United States could contract with Murder, Inc., to hire a "hit man" to kill a person.

syndicate

n. a joint venture among individuals and/or corporations to accomplish a particular business objective, such as the purchase, development, and sale of a tract of real property, followed by division of the profits. A joint venture, and thus a syndicate, is much like a partnership, but has a specific objective or purpose after the completion of which it will dissolve. (See: joint venture)

syndicate

noun alliance, association, cartel, combine, company, consortium, council, federation, guild, league, machine, merger, organization, partnership, pool, ring, societas, union
See also: act in concert, alliance, amalgamate, association, business, cartel, coalition, combine, committee, compact, confederacy, consortium, corporation, enterprise, federation, institute, merger, organization, partnership, pool, trust
References in periodicals archive ?
As with insurance professionals, the banking syndicate manager work to ensure members get the right services, at the right price, from the right bank.
The acquisition price of USD66m would be financed with a revolving credit facility of USD300m that the company has established with an international banking syndicate, according to NAT.
A five-year senior credit facility of pounds 300m has been secured with its banking syndicate.
In addition, the banking syndicate includes Canadian financial institutions, namely The Toronto-Dominion Bank, The Canadian Imperial Bank of Commerce, Caisse Centrale Desjardins, Bank of Montreal, Royal Bank of Canada as well as Comerica Bank, a US bank.
With an international banking syndicate, the Group agreed a facility with a tenor of five years from August 9, 2017 and extension options of up to two more years.
North-West based fashion and home-ware retailer, Matalan has announced that it has completed a GBP492m debt refinancing with a banking syndicate.
9 September 2011 - A banking syndicate consisting of ABN Amro, BofA Merrill Lynch and Royal Bank of Scotland (LON:RBS) has lead-managed the placement of a EUR500m (USD694.7m) bond issue by Dutch KPN (AMS:KPN), the telecoms operator said yesterday.
The trust has finalised terms for acquiring credit facilities with its banking syndicate, consisting of Royal Bank of Canada, RBC Capital Markets, Deutsche Bank AG Cayman Islands Branch, Deutsche Bank Securities Inc., HSBC Bank Canada, HSBC Bank USA, National Association and The Toronto-Dominion Bank.
DEESIDE-based global chemicals group Warwick International has been bought by its management team in a pounds 129m deal backed by London-based Close Brothers Private Equity and a banking syndicate led by The Royal Bank of Scotland.
To finance the acquisition, Speedy Hire - which already employs around 200 staff at 20 sites in the Midlands - negotiated increased bank facilities of pounds 210 million up from pounds 150 million from its existing banking syndicate.
The Norwegian shipping company Bergesen dy ASA said today (17 October) that it had entered into an USD800m unsecured loan facility with a banking syndicate led by Barclays Bank, Den norske Bank, Deutsche Bank, JP Morgan and Nordea Bank.
The bank has revealed that it has led the banking syndicate to deliver the credit facility to the Ministry of Finance via issuance of Treasury Bonds for a maximum 10-year period.