In investment banking, the book runner is the lead underwriting firm that runs or is in charge of the books. Information and translations of free runner in the most comprehensive dictionary definitions resource on the web. The run book should contain all the information a staff would need to perform daily operations as information on dealing with any problems that arise during. Runnerup definition and meaning collins english dictionary. Bond issuance and syndicated loans are two of the main financing. Among the plants that propagate by means of runners are the strawberry, the black raspberry, white clover, and some grasses. Arranger, bookrunner, mla and other roles in financing transactions.
These loans came into broad usage during the mid1990s as the institutional loan investor base grew. A runner is a person who runs, especially for sport or pleasure. Runner definition of runner by the free dictionary. You can complete the definition of runner given by the english definition dictionary with other english dictionaries. Runner law and legal definition a runner in a legal context is a person who acts as a courier to deliver documents back and forth at courts, agencies, businesses. Information and translations of runner in the most comprehensive dictionary definitions resource on. It is also called a managing underwriter or a syndicate manager or, less formally, a book runner. Book runner meaning in the cambridge english dictionary. For example, a large leveraged buyout might involve several companies, with one company that is. Do a runner definition of do a runner by merriamwebster. A runner is out if the fielder touching the base receives the ball before the runner reaches the base. Runners can be seen in many parts of the country or city. A loan in which the lender can claim more than the collateral as repayment in the event that the loan is enforced.
A syndicated loan, also known as a syndicated bank facility, is a loan offered by a group of lenders referred to as a syndicate that work together to provide funds for a. Wikipedia, lexilogos, oxford, cambridge, chambers harrap, wordreference, collins lexibase dictionaries, merriam webster. Definition of bookrunner in the financial dictionary by free online english dictionary and encyclopedia. These are just some or the roles that banks can play in bond issuances and loan transactions. When more than one bookrunner manages a security issuance, the parties are referred to as joint bookrunners or a multi bookrunner syndicate. Patrick lee is a huge talent and runner is his best book yet. Loan terms can also refer to features of the loan that you agree to. Seven lenders participated in the deal, with mizuho bank acting as sole cocoordinator, sole book runner and mandated lead arranger.
A large, leveraged buyout could involve multiple businesses. Sterling construction completes acquisition of plateau. Runner definition, a person, animal, or thing that runs, especially as a racer. A runnerup is someone who has finished in second place in a race or competition. The book runner is the main underwriter or lead manager in the issuance of new equity, debt or securities instruments. Do a runner definition is to leave a place quickly by running especially to avoid paying a bill or to escape punishment. This role of the book runner is simply to keep a record of how much debt each of the potential syndication banks wants to take.
It is a marathon running term for the point in the race when a runner meets an almost insurmountable physical barrier. Thus a full recourse loan places the sponsorsassets at risk. In investment banking, a bookrunner is usually the main underwriter or. At the end of the agreed duration or term, usually 36 months, the lessee has the option of either buying the vehicle at a value agreed upon at the start of the. A syndicated loan is one that is provided by a group of lenders and is structured, arranged, and administered by one or several commercial banks or investment banks known as lead arrangers the syndicated loan market is the dominant way for large corporations in the u. The lead arranger assigns parts of the new issue to other underwriters for placement and usually takes the largest part itself. That river rat all he had were rags til he caught that runnerrunner flush on the board. They are responsible for keeping the investor order book and determining the final assignment to each investor, and for keeping the documentation for the issue, which they usually entrust to an external legal advisor. A term loan is often appropriate for an established small business with sound financial statements. In investment banking, the book runner is the underwriting firm that runs, or who is in charge of, the books.
To have applicability or legal effect during a prescribed period of time. When more than one bookrunner manages a security issuance, the parties are referred to as joint bookrunners. In most cases, the term is how long the loan will last if you make the required minimum payments each month. The banks appointed to run the books during the execution phase of. Runner article about runner by the free dictionary. Definition of runner in the legal dictionary by free online english dictionary and encyclopedia. The bookrunner is listed first among all underwriters participating in the issuance.
Definition of book runner definitions of financial. Along the runner are small scaleleaves with buds from which roots emerge and enter the soil. Search runner and thousands of other words in english definition and synonym dictionary from reverso. European capital markets and bank finance is one of a.
The book runner works with other firms who will also take part in the deal, allowing for the sharing of risks. Various institutions may define a leveraged loan in different ways, although it is. Proper usage and audio pronunciation plus ipa phonetic transcription of the word runner. Prior to the syndication of a loan and at the point where the loan documentation is signed, the title of bookrunner is allocated to the bank that commits to provide the loan. A leadleft bookrunner is a highly sought after position among banks. Information about runner in the dictionary, synonyms and antonyms. Takeover of a company or controlling interest in a company, using a significant amount of borrowed money.
Or if a financial institution has acted as the lead manager or lead arranger. What does it mean when we say a bank is the bookrunner for a deal. A term loan is a loan from a bank for a specific amount that has a specified repayment schedule and either a fixed or floating interest rate. Agricultural bank of china, state bank of india and bank of taiwan were also mandated lead arrangers. Runner definition and meaning collins english dictionary. These features are sometimes called the terms and conditions. A lead bank is a bank overseeing the arrangement of a loan syndication or securities underwriting, recruiting syndicate members and negotiating. Book runner the managing underwriter for a new issue.
Glossary of terms acceleration when the lenders have the right to demand the immediate repayment of all outstanding debt upon the occurrence of an event of default in a credit agreement after any grace period, if applicable. Lead left bookrunner posted on august 7, 2012 by banker the lead left bookrunner is the investment bank chosen by a client to lead a capital markets transaction and is usually identified as the upperleft hand bank listed on the offering document cover. Gunma bank and shizuoka bank were lead arrangers, while fuyo general lease was an arranger. It selects the other banks to participate in the syndicate and sets financing terms. Lee child rarely is a story both plotdriven and characterdriven, but runner does this and more. An institutional term loan b term loans, c term loans or d term loans is a term loan facility carved out for nonbank, institutional accounts. The bookrunner usually syndicates with other investment banks in order to lower its risk. A syndicate is a group of underwriters responsible for placing a new issue of a security with investors. The book runner maintains the book of securities sold.
In computer systems and networks a run book is a set of defined procedures developed by the administrator or it professional for maintaining the everyday routine, as well as the exceptional operations of the computer system or network. However, the meaning of these terms differs depending on the type of. Lead arranger in investment banking, an underwriting firm that leads a syndicate. The book runner is the main underwriter or lead manager in the issuance of new equity, debt or securities instruments, and in investment banking. The lead arranger, or the mandated lead arranger mla, is the investment bank or underwriter firm that facilitates and leads a group of investors in a syndicated loan for major financing. A leadleft bookrunner is a highly soughtafter position among banks. This may be shared amongst several investors depending on the size of the deal.
In finance, the term book runner or bookrunner denotes the service provider responsible for the initial issuance of a specific security and the recording of sales. Eventually the runner withers, leaving many new daughter plants each is. Rain, below zero temperatures, hot and stifling humidity, a runner will put on hisher shoes and run, a poser will not run in these conditions. Meaning, pronunciation, translations and examples log in dictionary. Reduction in a banks loan portfolio its primary asset and major source of income as loans are paidoff and the new loans either do not fill the gap or are contracted at lower interest rates. A loan in which the lender cannot claim more than the collateral as repayment in the event that the loan is enforced. The book runner is the primary underwriter or lead coordinator in the issuance of new equity, debt, or securities instruments. Drug slang a regional term for a person who transports drugs, but may not sell them emergency medicine a nurse or other healthcare worker responsible for obtaining supplies or medications needed during emergency cpr sports medicine a person whose primary exercise is runningjogging.