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Syndication typically occurs when a company wants a large credit facility from a bank.
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Kumble secured large credit facilities from the firm's banking clients and embarked on a roll-up strategy designed to attract national clients.
This is one of the largest credit facilities ever issued to a small business lender, and possibly the biggest in the online lending space.
The funds are managed through a revolving credit facility, six large foundations with a shared pledge of $33 million, and the City of New York's $8 million investment, which together create a secure pool of loans to finance affordable housing projects.
Twitter will have to pay standard upfront and unused commitment fees for a credit facility this large.
The tape was inside a large envelope en route to a credit facility in Texas when it was lost a month ago.
Blockbuster's chief executive, James W. Keyes, said the company had reached agreements with the JPMorgan Chase Bank and two of the largest lenders under its existing revolving credit facility to amend and extend the facility through Sept. 30, 2010.
Constellation also reported that it has a stable capital position because it has aggregate credit facility commitments of $6.1 billion with a large consortium of banks, including Lehman Brothers Bank providing $150.0 million in credit.
On the upside, Aol's management team is prohibited from large cash acquisitions: "Per the terms of an existing credit facility, AOL can use no more than $100MM a year in cash for the purpose of an acquisition.
The Tenet Healthcare Corporation, the large hospital chain, said its banks agreed to amend terms of a credit facility, allowing the company to avoid a possible default.
The amendment enhances the company's financial flexibility by extending the term of its $550 million revolving credit facility and replacing its existing $128 million term loan A facility with a larger and longer maturity term loan B facility.
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