Club deals
A small group of lenders who agree terms together from the outset. Faster to close, with fewer parties at the table.
Lending & Financing
Syndication & consortium lending.
When one lender is not enough.
Club deals, syndicated facilities and consortium co-lending, with RFG taking or placing the lead — and running the process from sounding to drawdown.
- Arranger & MLA
- Best-efforts or underwritten
- One counterparty
Syndicated facilityTerm sheet · Illustrative
- Arranger
- Royal Financial Group
- Format
- Club, syndicate or co-lending
- Basis
- Best-efforts or underwritten
- Lenders
- Banks, private credit, institutions
- Agency
- Facility and security agent
Illustrative only. Every facility is subject to credit approval and documentation.
Secured & unsecuredCollateral is not a precondition
One business dayTo a first answer
USD 2B+Total amount financed to date
100+Lending, arranging and advisory mandates
12Capital partner classes
10+ yrsCombined lending and corporate finance experience
Three formats
Club, syndicate or consortium.
The format is chosen by the size, the timetable and the lenders most likely to hold the risk.
“RFG takes or places the lead. You deal with one counterparty.”
Syndicated facilities
Arranged by a lead and sold down to a wider group of lenders, on a best-efforts or underwritten basis.
Consortium & co-lending
RFG lends alongside other lenders on shared terms, each holding its own share of the facility.
Club deal and syndicated facility at a glance
General characteristics only. Every facility is different.
| Club deal | Syndicated facility | |
|---|---|---|
| Number of lenders | Small group, known from the start | Wider group, sold down by the arranger |
| How terms are set | Agreed together by the club | Set by the arranger, then offered to lenders |
| Typical size | Mid-sized facilities | Larger facilities |
| Speed | Usually faster | Longer, driven by sell-down |
| Underwriting | Rarely | Best-efforts or underwritten |
Roles we take
The seat at the table depends on the deal.
We take the role the facility needs.
ROLE 01
Arranger & MLA
Structures the facility, sets the terms and leads the lender group as mandated lead arranger.
ROLE 02
Facility & security agent
Administers the facility and holds the security on behalf of all lenders.
ROLE 03
Lead participant
Takes the largest single share and anchors the lender group.
ROLE 04
Co-lender
Lends alongside other lenders on shared terms.
What we run
From sounding to drawdown.
Six stages. One point of contact, one version of the numbers, one timetable.
Provider sounding
The right lenders tested for appetite, size and currency before the file goes out.
IM & lender pack
An information memorandum and lender pack that answer the credit questions before they are asked.
Term-sheet comparison
Competing term sheets compared side by side on price, structure and conditions.
Allocation
Commitments allocated across the lender group to balance price, certainty and relationship.
Inter-creditor
Ranking, voting and enforcement agreed between lenders so each knows where it stands.
Documentation to drawdown
Facility agreement, security and conditions precedent run to one timetable.
Why Royal Financial Group
One counterparty, however many lenders.
Because we lend as well as arrange, a proposition is read the way a credit committee reads it.
We hold risk too
Where we lead, we can lend alongside the group.
Twelve capital partner classes
Sovereign wealth funds, pension funds, insurers, banks’ specialty desks, private equity, family offices and HNIs.
Competing terms
Not a single quote.
Cross-border
Lenders, security and currencies across six regions.
A straight answer
If a facility will not syndicate, we tell you early.
Confidential
Information shared only with named lenders, under NDA.
Our role, stated plainly. Royal Financial Group lends directly, and refinances, syndicates or participates its facilities through capital partners across the GCC, Europe and Asia. Every facility is subject to satisfactory due diligence, credit approval and formal documentation.
Frequently asked questions
Syndication, answered.
What is the difference between a club deal and a syndicated facility?
A club deal is a smaller group of lenders who agree terms together from the start. A syndicated facility is arranged by a lead, then sold down to a wider group of lenders, on a best-efforts or underwritten basis.
What roles does RFG take in a syndication?
Arranger and mandated lead arranger, facility and security agent, lead participant or co-lender, depending on the size and shape of the facility.
When does a facility need to be syndicated?
When it is larger than one lender should hold, when it needs lenders with different appetites or currencies, or when spreading the exposure gets better terms for the borrower.
Does the borrower deal with every lender?
No. You deal with one counterparty and one timetable. We run the sounding, the lender pack, allocation, inter-creditor terms and documentation through to drawdown.
Is a syndicated facility underwritten?
It can be. Some facilities are underwritten by the arranger; others are placed on a best-efforts basis. Which one fits depends on the size, timing and market appetite.