Syndicated lending to companies in India has shot up by 14 per cent to $29 billion so far this year, even as loans to firms in the Asia-Pacific region more than halved to $103 billion during the same period.
Moreover, India has accounted for 28 per cent of the total deal volume so far in 2009.
The entities in the Asia-Pacific region (excluding Japan) raising money through syndicated lending has reached $103.3 billion, global deal tracking firm Dealogic said in a report. Syndicated lending is a process whereby a group of banks come together to finance a project.
Syndicated lending to India jumped to $29 billion, an increase of 14 per cent as against the same period a year ago. In the comparable period, the total amount stood at $25.7 billion.
Out of the total volume, India's share is 28 per cent, Dealogic noted.
"This represents a 14 per cent increase on the $25.7 billion raised in 2008 year-to-date, making India the only top 10 nation in Asia Pacific (excluding Japan) to register year-on-year growth," it said.
SBI Capital Markets has topped as the lead arranger for syndicated loans with 18.5 per cent market share.
The APAC loan volume represents a decline of 60 per cent from $258.8 billion raised during the same period in 2008, Dealogic said.
However, on a sequential basis, second quarter syndicated lending grew 51 per cent over Q1. The volume in the Q2 of 2009 stood at $54.1 billion, representing the second consecutive quarterly rise.
