Definition for : Lead manager

The lead manager is responsible for preparing and executing the deal. The lead manager helps choose the member institutions of the Syndicate. One (or two) lead managers also serve as Bookrunners. The lead manager also takes part in allocating the securities to Investors. Can simply be called the lead. For Syndicated loans, the lead manager is responsible for the deal design and the structuring of the Syndicate. Also called Lead arranger/Bookrunner.

(See Chapter 26 Value and corporate finance of the Vernimmen)

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