India leads syndicated loan tally in Asia Pacific region
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Last Updated: Tuesday, November 03, 2009, 15:55
New Delhi: Indian companies have raised a record high of USD 38.5 billion to fund their upcoming and current projects so far in 2009, making the country the leader in the Asia Pacific region in the syndicated loan space, global deal tracking firm Dealogic said on Tuesday.

"This year's syndicated loan volume has surpassed the previous high of USD 38.1 billion achieved in full year 2007 and accounts for 23 percent of Asia Pacific's," Dealogic said.

India syndicated loan volume has reached a total of USD 38.5 billion through 108 deals so far this year, up 17 percent from its year ago level.

Syndicated loans are large financing facilities granted to a borrower by a group of financial institutions who share the lending risk between them. They combine the commercial financing relationship between a bank and its client with the features of market traded debt.

Volume from Indian companies has surpassed Australia, where syndicated loan volume amounted to USD 36.5 billion and has become the leading nation in Asia, Dealogic said, adding that Indian companies raised money mainly to fund their upcoming as well as current projects.

Dealogic said loans for project finance purposes accounted for the majority of total India loan volume (78 percent) and stood at USD 30.2 billion through 62 deals since the beginning of this year.

Bureau Report

First Published: Tuesday, November 03, 2009, 15:55

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