Initial players in large syndication deals often seek to sell off portions of their loan commitments to other players, including other banks and institutional investors.

But the sale of these positions, which is done to reap quick profits and lower exposure, has become trickier in the case of Stargate.

Two bankers and a financing executive who are familiar with the syndication market said that the rising perception of risk around Stargate meant that lenders now wanted higher yields to lend to it. That has placed recent Stargate syndicators in a position where they can no longer profitably sell off debt that was arranged at tighter spreads just a few months ago.

(http://www.autoadmit.com/thread.php?thread_id=5827217&forum_id=2),#49622636)