The EU Commission issues a report on syndicated loans and competition compliance

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Syndicated lending is a well-established and critical way of banks sharing risk in financing larger or riskier projects which a single lender is unable or unwilling to assume. Such arrangements are therefore clearly in the interest of borrowers and increase market liquidity. However, syndicates also involve otherwise competing banks talking to each other about the terms of the financing in a manner which could reduce competition between them – which is where competition law concerns in this area have arisen. While borrowers and lenders alike want a simple and clear set of rules to follow, this has to date not been forthcoming from competition agencies, with widespread concern following a previous LMA Notice in 2014 suggesting that those involved in certain activity relating to

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Authors

  • Norton Rose Fulbright (London)
  • Norton Rose Fulbright (London)
  • Norton Rose Fulbright (London)

Quotation

Ian Giles, Mark Daniels, Shaha El-Sheemy, The EU Commission issues a report on syndicated loans and competition compliance, 8 April 2019, e-Competitions April 2019, Art. N° 96746

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