Finance Deals & Syndicated Lending · glossary
The letter by which the borrower hires its arranger. It says whether the arranger underwrites, and sets the ground rules: exclusivity, clear market, market flex, fees and an indemnity. Those parts bind from signature. Chapter 4
Explained in Chapter 4, From Term Sheet to Signing, of Finance Deals & Syndicated Lending.
Before any signing, Atlas had to hire its bank. It did so by a mandate letter, which appoints one or more banks as lead arranger to structure the deal. The letter says whether the arranger underwrites the loan or only uses its best efforts (Chapter 2).Read Chapter 4, From Term Sheet to Signing →
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