With emerging markets loan volumes half of what they were by this time last year, syndicate staff are facing job cuts and increased pressure to find ways to compete for what scraps of business there are. The battlegrounds will be pricing and covenants.
Year-to-date syndicated loan volumes
across Africa, central and eastern Europe and the Middle East are down by 47%. By this point last year, 244 deals had been signed,
totalling around $133.9bn. By contrast, only 133 deals totalling $69.7bn have been signed this year, according to Dealogic data.
numbers come as no surprise