| 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. As the basic form of the international syndicated loan, the international direct syndication developed rapidly in the whole world and became one of the most popular financing methods in the international financial market.The relations between the syndication members and the borrower are separate and not joint. The international direct syndication is a structure adopted by the syndication members to extend loan to the borrower according to the same rules and conditions. The syndication as a whole does not have any legal nature. Various legal relations arise among the syndication members and between each member and the borrower. The thesis focuses on the legal relations between the leading bank and the borrower, the leading bank and the participants, the agent bank and the borrower, the agent bank and the participants, and among the participants. After the analysis of various legal relations, the thesis discusses the law applicable to various relations and the facility agreement. At the last part of this thesis, the author analyzes the present situation of the domestic syndicated loan, discusses the existing regulations on the syndicated loan and provides some suggestions for the domestic legislation relating to the syndicated loan.Through the analysis of the theories of international economic law and comparison of the relevant legislations and international practice, the author studies the basic legal issues in the international direct syndication, for the purpose of offering some opinions for the development of the domestic syndication. |
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