We document two different channels of information sharing among syndicate lenders through the presence of common auditors. Loan spreads decrease by 33 basis points when lead banks in a syndicate share the same audit firm, and decrease by 18 basis points when lead banks share a common auditor with participating banks. Our results are robust to alternative proxies for common auditors and after controlling for the selection bias of common auditors. Our findings support both the certification channel, where reduced information asymmetries lead to lower lead bank retention, and the risk diversification channel, where improved monitoring efficiency increases lead bank retention. We also find that loans with common auditors among lenders are less likely to be secured but more likely to have restrictive covenants and performance pricing provisions.