Isn’t this a perfectly normal thing banks do with all large debt? Any bank underwriting any $40b loan was always going to syndicate it.
Not to do so would be reckless.
What is unusual about this is that syndications usually clear in a few weeks but this has been stuck in distribution for six months and still not closed.
Not to do so would be reckless.
What is unusual about this is that syndications usually clear in a few weeks but this has been stuck in distribution for six months and still not closed.