Fundraising and capital markets
Data room for syndicated loans
Short answerIn a syndicated loan the arranger shares the borrower's information memorandum and due diligence with potential lenders, then the agent uses a portal for ongoing reporting. A data room with lender groups, watermarks and an audit trail fits both stages.
How it works in Singapore
Singapore banks lead many regional syndicated and club loans, including acquisition finance, real estate and project loans. Lenders join at different times and need the same information.
Best data rooms for syndicated loans
Our five measures re-weighted for this use case, with a small bonus for rooms built for it. Prices before 9% GST.
- 1
Ellty ~S$191/mo 9.1 Visit Ellty - 2
iDeals On quote 8.8 - 3
Datasite On quote 8.7 - 4
Intralinks On quote 8.5 - 5
Ansarada On quote 8.5 - 6
Firmex On quote 8.3 - 7
Drooms On quote 8.3 - 8
SmartRoom On quote 8.1 - 9
Box ~S$19/user/mo 8.0 - 10
Citrix ShareFile ~S$70/mo 7.9
26%Security19%Deal tools22%Permissions16%Ease of use16%Cost
Folder index for syndicated loans
01
Information memorandumIM and model.
02
Due diligenceLegal and financial reports.
03
DocumentsFacility and security agreements.
04
ReportingCompliance certificates and accounts after closing.
Singapore rules that apply
Confidentiality
Lenders sign confidentiality undertakings; access is limited to those who have.
Insider information
For listed borrowers, lenders may receive price-sensitive information and must manage it.
Features you need
| Feature | Why it matters here | Rooms in our top 10 that list it |
|---|---|---|
| View and download control | Each file can be set to view-only, print or download, and the setting can be changed later. | 9 of 10 |
| Audit trail | Time-stamped history of who opened, printed or downloaded each document, exportable for a dispute, insurer or regulator. | 10 of 10 |
| Dynamic watermarks | The reader's name, email and time are stamped across each page as it opens, so a photographed page can be traced. | 10 of 10 |
| Two-factor login | Every login needs a one-time code, app approval or security key as well as the password. | 10 of 10 |
How to set it up
- Create lender groupsAdd lenders only after they sign confidentiality undertakings.
- Switch to reportingUse the same room for ongoing compliance reporting.
Mistakes to avoid
- Lenders added before signing confidentiality.
- Reporting by email after closing.
Questions people ask
Who runs the loan data room?
Usually the arranger before signing and the agent bank after.
Can it be used for ongoing reporting?
Yes, compliance certificates and accounts can be posted for all lenders.
What about public and private side lenders?
For listed borrowers, separate public and private information so lenders who trade securities can choose.