Banking · Syndication and Consortium Lending

Regarding syndication and consortium lending to large corporate borrowers, consider the following statements: i. Consortium lending involves multiple banks providing funds under a common appraisal, common documentation, and a single security charged to a lead bank acting as a trustee for all members. ii. The pari passu clause in the inter se agreement mandates that the security be shared in proportion to the outstanding loan amount (pro-rata), and not equally, among all member banks. iii. In a syndicated loan, the arranger bank typically underwrites the entire loan and then sells participations to other banks, leading to a much faster disbursement process than a consortium. iv. Both consortium and syndication arrangements require registration of the security interest with CERSAI for the benefit of all lenders. Which of the statements given above are correct?