The act of forming a syndicate; the condition of being owned or managed by a syndicate.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

United Kingdom
The term has more than one meaning depending on the context in which it is used:
• In the context of a syndicated loan, the process by which one lender "sells" a portion of its debt to a syndicate of lenders, so reducing its own exposure but at the same time reducing its reward.
• In the context of an issue of gilts, the appointment by the UK Government of a group of underwriters to manage and underwrite an issue of gilts. By underwriting the issue, the underwriters agree to buy the gilts should buyers not be found for the issue.
+ syndication/syndicated
syndication, Also known as syndicated.
In the context of a bank loan, the process whereby a small number of arrangers (typically not more than four) divide up a loan among a group of lenders, with each lender being severally liable (several liability) to fund only its pro rata share of the loan. If the loan is syndicated before it is funded, the commitments are allocated to the lenders in the syndicate. If the syndication takes place after the loan is funded, portions of the outstanding loan and any related commitments are sold (by assignment) to the lenders in the syndicate.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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