The Research On Some Legal Issues About International Syndicated Loans

International syndicated loan, which emerged in the 1960s, has become one of the major long and medium-term financing methods in the international currency market after decades of development. International syndicated loan can be divided into two ways, one is international direct syndicated loan, and another is international indirect syndicated loan. International direct syndicated loan is one of the most popular financing methods in the international financial market. International syndicated loan involved some parties, and there are some legal relationships between these parties, containing internal relationships and external relationships,the legal relationships between direct syndicated loan and indirect syndicated loan parties are different. And international syndicated loan involved some legal documents, such as mandate letter, information memorandum,legal opinion. In these legal documents, information memorandum is the most controversial document, in the practice of syndicated lending, the parties always rely to the information memorandum, so the leading bank should responsible for the losses when the misrepresentation or omission exist in the information memorandum .There is loan, there is guarantee. The guarantees on international syndicated loan is not the same as traditional guarantee, the ways of guarantee are mainly classified into two models: guarantee by credence and guarantee by real right. The former is more usually utilized in international loans.The syndicated loan in China is still in development stage, which is caused by the incompletion of Chinese International syndicated loan Law.The"Interim Measures for syndicated loans", which published in 1997 by People's Bank of China was seriously lagging behind the development of syndicated loans .In order to adapt to the syndicated loan market, China Banking Regulatory Commission Issued Guidance on the Syndicated loan Interim Measures Provides more detailed in 2007. However, remains a series of problems like low legal effect, hard to take into operating, This will affect China's business development healthy and rapidly. Accordingly, China should improve syndicated loan law system basing upon the existing syndicated loans and borrowing advanced experiences abroad. China should publish"Syndicated lending law", and strengthening the supervision or the information disclosure.