a) Explain what loan syndication is and what the process involves. (5 Marks) b) Different banks play different roles in the syndication process. Discuss the roles banks play in the loan syndication process. (5 Marks) c) The project company in the process of arranging finance through syndication will engage an investment banker(s) to be the arranger. Explain the two ways in which investment bankers can bid for the role of lead arranger and in what circumstances each of the ways would be suitable. (5 Marks) d) Explain the forms of compensation typically available to banks who participate in a syndicate. (5 Marks) e) Lead arrangers typically invite a number of banks to participate in the syndicate by way of booking the transaction on their balance sheets. However, in practice not all banks take up the invitation to participate. Discuss some of the reasons banks cite for their non-participation in a project finance deal