The bank who is leading the marketing and syndication process in a leveraged finance transaction (either a Lead Left Arranger or Lead Left Bookrunner).

The “lead left” refers to the position in the marketing materials, meaning that the bank that is named first in any marketing materials pertaining to the transaction.

If you would like to learn more about the financing process, please see our Termgrid Primers – Series 1: The Debt Financing Process.