Asia’s syndicated loans lack a key ingredient, syndication - opinion
China’s Sinopec has given the Asia loans market a breath of fresh air by taking its $2.5bn deal into general, after recent months saw a spate of blue-chip names opt for large clubs. The syndicated market is far from dead — but if Asian banks want to stay in the game, the region’s loans need more syndication.
Syndicated loans bankers in Asia got some welcome relief last week when China Petrochemical Corp (Sinopec) opted for a general syndication phase for its new $2.5bn loan rather than sticking with a club like so many of its Greater China peers have done.
In September, for example, Hutchison Whampoa
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