Front running
Front running is when an underwriter or arranger of a loan facility actively encourages a bank (or other investor), which is considering taking a primary participation in the syndication, to wait for the secondary market. …
Facility Agent
The facility agent represents the lenders during the life of the loan, managing the information and cash flows between the lenders and the borrower. The Facility Agent acts as an agent for the lenders but is paid for by the borrower. …