Syndicated loan 银团贷款

This type of loan involves a group of banks providing funds but without joint liability. There is normally a lead bank which then syndicates the loan to several other banks. 是指由一家或数家银行牵头，多家银行参与组成的银行集团，由两 位或以上贷款人按相同的贷款条件、以不同的分工，共同向一位或以上借款人ᨀ 供贷款，并签署同一贷款协议的贷款业务。

优点：

1. The main advantage of a syndicated loan is tat lager loans can be arranged than though a single bank. This means that the company does not have to raise different loans from different banks. 的优势是大笔贷款可以通过一家银行（集团）来 处理无需从多家银行申请不同的贷款。

2. It tends to be more flexible and can be tailored to the company’s specific needs 它更加灵活，可以根据公司的具体需求定制。

缺点：

The lead bank may require a higher interest rate to cover its risk of one of hte syndicate banks defaulting on the loan. 牵头银行可能需要更高的利率来弥补其中 一家（辛迪加）银行拖欠贷款的风险。

Bond issue 发行公司债

优点：It may appear to be an attractive means of arising large amounts of capital for investment purposes.这是募集大量资金用于投资用途的一种有吸引力的方式。 缺点：there are large issue costs involved and there is the risk that the issue will be under-subscribed.发行成本高，且有认购不足的风险。

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