Syndicated loans arise when a project requires too large a loan for a single lender or when a project needs a specialized lender with expertise in a specific asset class. Syndicating the loan allows lenders to spread risk and take part in financial opportunities that may be too large for their individual capital base. Interest rates on this type of loan can be fixed or floating, based on a rate such as the (LIBOR). LIBOR is an average of the interest rates that major global banks borrow from each other. Syndicated loans are usually too large for a single lender to handle. For example, the Chinese corporation Tencent Holdings Ltd., the biggest internet company in Asia and owner of popular messaging services WeChat and QQ, signed a syndicated loan deal on March 24, 2017, to raise $4.65 billion.

Syndicate noun (GROUP) C, + sing/pl verb a group of people or companies who join together in order to share the cost of a particular business operation for which a large amount of money is needed: A syndicate of banks is/are financing the deal.

Proximity card software. The loan deal included commitments from a dozen banks with Citigroup Inc. Acting as the coordinator, mandated lead arranger, and, which is the lead underwriter in a new debt offering that handles the 'books.'

Previously, Tencent had increased the size of another syndicated loan to $4.4 billion on June 6, 2016. That loan, used to fund company acquisitions, was underwritten by five large institutions: Citigroup Inc., Australia and New Zealand Banking Group, Bank of China, HSBC Holdings PLC, and Mizuho Financial Group Inc. The five organizations together created a syndicated loan that encompassed a five-year facility split between a and a. A revolver is a revolving credit line, meaning the borrower can pay down the balance and borrow again.