{"id":105173,"date":"2025-01-27T17:07:47","date_gmt":"2025-01-27T22:07:47","guid":{"rendered":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/q4-2024-apac-syndicated-loans-market-overview\/"},"modified":"2025-07-23T13:59:46","modified_gmt":"2025-07-23T17:59:46","slug":"q4-2024-apac-syndicated-loans-market-overview","status":"publish","type":[3762],"link":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/q4-2024-apac-syndicated-loans-market-overview\/","title":{"rendered":"Q4 2024 APAC syndicated loans market overview"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db61c89c'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-7\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px; color: #0062dd;\">ARTICLE<\/span><\/strong><\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div>    <h1 class=\"bbg-metadata bbg-metadata--title\">Q4 2024 APAC syndicated loans market overview<\/h1>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 50px !important\"\n    >\n<\/div>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/financial-services\/\" rel=\"category tag\">\n                    Financial Services\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/markets\/\" rel=\"category tag\">\n                    Markets\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/regional-analysis\/\" rel=\"category tag\">\n                    Regional Analysis\n                <\/a>\n            <\/li>\n            <\/ul>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-5\"\n    style=\"\"\n    >\n    <div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/shutterstock_1906662484-1.jpeg\" class=\"bbg-single-image__image attachment-full\" alt=\"\" title=\"\" \/>\n        \n            <\/figure>\n<\/div>\n\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db62a3f2'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6 bbg-column--m-width-6\"\n    style=\"\"\n    >\n    <p>    <p class=\"bbg-metadata bbg-metadata--date\">January 27, 2025<\/p>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><strong>Bloomberg Professional Services<\/strong><\/p>\n\n<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2 bbg-column--valign-middle bbg-column--m-width-2 bbg-column--s-padding-right-2\"\n    style=\"\"\n    >\n    <div class=\"bb-tts\"\n\tdata-selector=\"main\"\n\tdata-label=\"Speak this page\"\n\tdata-custom-play=\"Play\"\n\tdata-custom-pause=\"Pause\"\n\tdata-custom-stop=\"Stop\"\n\tdata-overlay=\"false\"\n\tdata-invert=\"false\"\n\tdata-no-time=\"false\"\n\tdata-no-button-text=\"false\"\n\tdata-one-button=\"true\"\n\tdata-one-style=\"true\"\n\tdata-hide-stop=\"true\"\n\tdata-voice=\"Gordon\"\n\tdata-pitch=\"1\"\n\tdata-speed=\"1\"\n\tdata-align=\"flex-start\"\n>\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db62d955'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2><span data-contrast=\"none\">APAC ex-Japan<\/span><\/h2>\n<p>Syndicated lending signed in APAC ex-JP totaled USD 544.8 billion in 2024, marking a 6.8% drop from 2023. The market staged a recovery of 19.9% in the second half of 2024 after the continuous downturn of issuance volume since the first half of 2023.<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--margin-top-compact bbg-row--margin-bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db62fae1'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\tbackground: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Interstitial_bg.png);\n\t\t\t\tbackground-repeat: 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now<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_7552317554312865931\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/newsletter\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0c4db6356b8'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1443\" height=\"805\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.39.06%E2%80%AFPM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"APAC ex-Japan Loans Volume Trend\" title=\"APAC ex-Japan Loans Volume Trend\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.39.06%E2%80%AFPM.png 1443w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.39.06%E2%80%AFPM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.39.06%E2%80%AFPM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.39.06%E2%80%AFPM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.39.06%E2%80%AFPM.png 192w\" sizes=\"auto, (max-width: 1443px) 100vw, 1443px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span class=\"TextRun SCXW132635743 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun CommentStart SCXW132635743 BCX0\">In terms of the financing purposes, <\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">42% of the loans issued in 2024 <\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">went into<\/span> <span class=\"NormalTextRun SCXW132635743 BCX0\">supporting refinancing efforts.<\/span> <span class=\"NormalTextRun SCXW132635743 BCX0\">Capital<\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">&#8211;<\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">related spending saw a sharp drop of over 68% from the 2023 level.<\/span> <span class=\"NormalTextRun SCXW132635743 BCX0\">In 2023,<\/span><span class=\"NormalTextRun SCXW132635743 BCX0\"> Chinese borrowers issued dozens of mega<\/span> <span class=\"NormalTextRun SCXW132635743 BCX0\">infrastructure projects, each worth over USD 1 billion<\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">, <\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">which <\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">did not<\/span> <span class=\"NormalTextRun SCXW132635743 BCX0\">sustain<\/span> <span class=\"NormalTextRun SCXW132635743 BCX0\">in<\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">to<\/span> <span class=\"NormalTextRun SCXW132635743 BCX0\">2024.<\/span> <span class=\"NormalTextRun SCXW132635743 BCX0\">With China\u2019s 14-th Five-Year Plan <\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">coming <\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">to an end<\/span><span class=\"NormalTextRun SCXW132635743 BCX0\"> in 2025 and <\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">the country<\/span><span class=\"NormalTextRun SCXW132635743 BCX0\"> seeking to boost <\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">its <\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">domestic econom<\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">y<\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">, it remains to be seen whether the demand of <\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">Capex<\/span><span class=\"NormalTextRun SCXW132635743 BCX0\"> funding could stage a comeback.<\/span><span class=\"NormalTextRun SCXW132635743 BCX0\">\u00a0<\/span><\/span><span class=\"EOP SCXW132635743 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1004\" height=\"751\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.42.08%E2%80%AFPM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"APAC ex-Japan Loans by Use of Proceeds\" title=\"APAC ex-Japan Loans by Use of Proceeds\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.42.08%E2%80%AFPM.png 1004w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.42.08%E2%80%AFPM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.42.08%E2%80%AFPM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.42.08%E2%80%AFPM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.42.08%E2%80%AFPM.png 144w\" sizes=\"auto, (max-width: 1004px) 100vw, 1004px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1074\" height=\"716\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.41.09%E2%80%AFPM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Loans Volume by Use of Proceeds in 2023 and 2024\" title=\"Loans Volume by Use of Proceeds in 2023 and 2024\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.41.09%E2%80%AFPM.png 1074w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.41.09%E2%80%AFPM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.41.09%E2%80%AFPM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.41.09%E2%80%AFPM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.41.09%E2%80%AFPM.png 162w\" sizes=\"auto, (max-width: 1074px) 100vw, 1074px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"none\">Chinese borrowers took a big step back in 2024 in debt issuance, especially with limited supply of mega infrastructure projects from Chinese borrowers. On the other hand, Australian companies have been busy borrowing. Lending increased the most among borrowers in the financial sector, up by 63.8%.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Loans issued in CNY dropped by 43.9% in 2024 from the previous year, marking the lowest volume issued in the region since 2018. Australian borrower activities boosted the AUD volume by 20.3 billion as the loans were largely raised within the domestic market.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Technology companies borrowed some of the most notable syndicated loans this year. ByteDance issued a USD 10.8 billion syndicated loan attracting 12 bookrunners, while Alipay refinanced its previous USD 6.5 billion loan deal, extending its maturity to 2027. Looking ahead, Reliance International\u2019s USD 1.2 billion loan and parent group Reliance Industries\u2019 USD 3.5 billion loan are set to expire in 2025. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">In 2024, Bank of China remained in the lead as the top mandated lead arranger for loans across the region, with KB Financial Group and DBS following suit. Meanwhile, among the bookrunners, Bank of China claimed the top spot, followed by HSBC and KB Financial Group.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2><span data-contrast=\"none\">ESG<\/span><\/h2>\n<p><span class=\"NormalTextRun CommentStart SCXW127954013 BCX0\">Green<\/span><span class=\"NormalTextRun SCXW127954013 BCX0\"> and sustainability-linked lending saw substantial recovery in the final quarter<\/span><span class=\"NormalTextRun SCXW127954013 BCX0\">,<\/span><span class=\"NormalTextRun SCXW127954013 BCX0\"> with <\/span><span class=\"NormalTextRun SCXW127954013 BCX0\">USD <\/span><span class=\"NormalTextRun SCXW127954013 BCX0\">34.5 billion issued across the region, bringing the total volume of ESG-related lending in 2024 to <\/span><span class=\"NormalTextRun SCXW127954013 BCX0\">USD <\/span><span class=\"NormalTextRun SCXW127954013 BCX0\">113 billion, marking a 29.5% increase in volume year-on-year.<\/span><\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"954\" height=\"790\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.42.51%E2%80%AFPM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"APAC ex-Japan ESG Syndicated Lending\" title=\"APAC ex-Japan ESG Syndicated Lending\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.42.51%E2%80%AFPM.png 954w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.42.51%E2%80%AFPM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.42.51%E2%80%AFPM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.42.51%E2%80%AFPM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.42.51%E2%80%AFPM.png 130w\" sizes=\"auto, (max-width: 954px) 100vw, 954px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"none\">In the fourth quarter, Australia overtook Singapore as the country with the most Green loans issued, resulting in the highest issuance of Green loans to be from Australian borrowers by a small margin in the year of 2024. For Sustainability-linked loans, Chinese borrowers saw the highest issuance in 2024, with the US dollar still dominating as the highest issued currency for SLLs.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The largest and most notable Green loan of the year was issued to Charter Hall Prime Office Fund for AUD 3.35 billion (USD 2.1 billion equivalent) for the development of green properties outlined in its sustainability framework, which is certified by CBI. Additionally, the Green loan facilities secured in this transaction have been certified by the Climate Bond Initiative and verified by DNV and KPMG. The loan was underwritten and syndicated by ANZ, Commonwealth Bank of Australia, HSBC, SMBC, and Westpac Banking as MLABs.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The largest Sustainability-linked loan of this year was issued to Syngenta for USD 4.5 billion, denominated in US dollar across 4 tranches and advised by sustainability coordinators Credit Agricole CIB and Bank of China. The loan was led by a consortium including Agricultural Bank of China, Bank of China, China Construction Bank, Credit Agricole CIB, DBS, ICBC from their Hong Kong branches and subscribed to by banks across the region.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">United Overseas Bank led in the Bookrunner rankings for Green loans across the region, followed by HSBC and Commonwealth Bank Australia. On the other hand, Oversea-Chinese Banking Corp led the ranks of Mandated Lead Arrangers, followed by DBS and United Overseas Bank. For Sustainability-linked loans, ANZ led as the top Bookrunner in the region, followed by China Construction Bank and Mega Financial. As for the Mandated Lead Arrangers, ANZ once again topped the list, followed by Oversea-Chinese Banking Corp and Agricultural Bank of China.<\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>Greater China<\/h2>\n<p><span class=\"TextRun SCXW107661158 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW107661158 BCX0\">In <\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">2024, the total issuance volume of syndicated loans in <\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">Greater China<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\"> decline<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">d<\/span> <span class=\"NormalTextRun SCXW107661158 BCX0\">by<\/span> <span class=\"NormalTextRun SCXW107661158 BCX0\">21.5%, with China\u2019s onshore and offshore sectors falling <\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">by <\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">41.2% an<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">d <\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">1.<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">7%<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\"> respectively. Refinancing account<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">ed<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\"> for the largest proportion (26.<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">3<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">%) o<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">f <\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">Greater Chi<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">na<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\"> syndicated loan<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">s<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">, with a rise of 6.2% compared to last year<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">, followed by <\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">general corporate<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\"> purposes (20.<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">9<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">%) and capital expenditures (14.8%)<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">.<\/span><\/span><\/p>\n<p><span class=\"TextRun SCXW107661158 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"> <span class=\"NormalTextRun SCXW107661158 BCX0\">Although <\/span><span class=\"NormalTextRun CommentStart SCXW107661158 BCX0\">China has lowered the cost of home sales and introduced lower interest rates to ease the slowdown in the property market, syndicated real estate loans still accounted for only 6.9% of the market.<\/span> <span class=\"NormalTextRun SCXW107661158 BCX0\">F<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">inancial institutions <\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">were still <\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">cautious and <\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">demand<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">ed <\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">more collateral<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\"> assets for <\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">lending<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">.<\/span> <span class=\"NormalTextRun CommentStart SCXW107661158 BCX0\">In terms o<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">f <\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW107661158 BCX0\">G<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW107661158 BCX0\">re<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW107661158 BCX0\">en<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\"> loans <\/span><span class=\"NormalTextRun CommentStart SCXW107661158 BCX0\">i<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">n <\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">the <\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">Greater China regi<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">on<\/span><span class=\"NormalTextRun SCXW107661158 BCX0\">, the total issuance of syndicated loans increased by 37.08% in 2024 compared with the same period last year.<\/span><\/span><span class=\"EOP SCXW107661158 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:400,&quot;335559739&quot;:120,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1201\" height=\"795\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.43.37%E2%80%AFPM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Syndicated Loans Volume Breakdown by Region\" title=\"Syndicated Loans Volume Breakdown by Region\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.43.37%E2%80%AFPM.png 1201w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.43.37%E2%80%AFPM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.43.37%E2%80%AFPM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.43.37%E2%80%AFPM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.43.37%E2%80%AFPM.png 163w\" sizes=\"auto, (max-width: 1201px) 100vw, 1201px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span class=\"TextRun SCXW171725292 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun CommentStart SCXW171725292 BCX0\">I<\/span><span class=\"NormalTextRun SCXW171725292 BCX0\">n the past <\/span><span class=\"NormalTextRun SCXW171725292 BCX0\">2 <\/span><span class=\"NormalTextRun SCXW171725292 BCX0\">years<\/span><span class=\"NormalTextRun SCXW171725292 BCX0\">, <\/span><span class=\"NormalTextRun SCXW171725292 BCX0\">t<\/span><span class=\"NormalTextRun SCXW171725292 BCX0\">he volume of USD-denominated loans has decreased across the <\/span><span class=\"NormalTextRun SCXW171725292 BCX0\">Greater China<\/span><span class=\"NormalTextRun SCXW171725292 BCX0\"> market<\/span><span class=\"NormalTextRun SCXW171725292 BCX0\">,<\/span><span class=\"NormalTextRun SCXW171725292 BCX0\"> while the usage of offshore CNY has grown<\/span><span class=\"NormalTextRun SCXW171725292 BCX0\">. <\/span><span class=\"NormalTextRun CommentStart SCXW171725292 BCX0\">It is worth noting that the offshore <\/span><span class=\"NormalTextRun SCXW171725292 BCX0\">CNH<\/span><span class=\"NormalTextRun SCXW171725292 BCX0\"> increased significantly by about 5.76 times compared with the previous year<\/span><span class=\"NormalTextRun SCXW171725292 BCX0\"> in <\/span><span class=\"NormalTextRun SCXW171725292 BCX0\">Greater China<\/span><span class=\"NormalTextRun SCXW171725292 BCX0\"> loans<\/span><span class=\"NormalTextRun SCXW171725292 BCX0\">.<\/span> <\/span><span class=\"EOP SCXW171725292 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:400,&quot;335559739&quot;:120,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1100\" height=\"775\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.44.46%E2%80%AFPM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"2020-2024 Greater China ES Loans Market Trend\" title=\"2020-2024 Greater China ES Loans Market Trend\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.44.46%E2%80%AFPM.png 1100w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.44.46%E2%80%AFPM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.44.46%E2%80%AFPM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.44.46%E2%80%AFPM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.44.46%E2%80%AFPM.png 153w\" sizes=\"auto, (max-width: 1100px) 100vw, 1100px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span class=\"TextRun SCXW222879373 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW222879373 BCX0\">Across the Greater China region, a deal to highlight is the USD 5 billion term loan issued to Alipay Hong Kong Holding in August, with Bookrunners Australia &amp; New Zealand Bank, Banco Bilbao Vizcaya Argentaria SA, Bank of China, BNP Paribus, JP Morgan Chase Bank, China Construction Bank, China Merchants Bank, Citibank, CMB Wing Lung, DBS Bank, Goldman Sachs, Hongkong &amp; Shanghai Bank Corporation, ING Bank, Mizuho Bank, Morgan Stanley and Oversea-Chinese Banking Corporation and Standard Chartered Bank. The loan was expected to be used for refinancing and working capital purposes.<\/span><\/span><span class=\"EOP SCXW222879373 BCX0\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559738&quot;:400,&quot;335559739&quot;:120,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<h2 data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\"><span data-contrast=\"auto\">ASEAN<\/span><\/h2>\n<p><span class=\"NormalTextRun SCXW19803622 BCX0\">Syndicated borrowing amongst ASEAN borrowers in <\/span><span class=\"NormalTextRun SCXW19803622 BCX0\">2024<\/span><span class=\"NormalTextRun SCXW19803622 BCX0\"> totaled USD 128 billion<\/span><span class=\"NormalTextRun SCXW19803622 BCX0\">, marking an increase of 15.6% from 2023 and reaching the highest issuance level in the past 10 years.<\/span><span class=\"NormalTextRun SCXW19803622 BCX0\"> While the broader APAC market <\/span><span class=\"NormalTextRun SCXW19803622 BCX0\">volume <\/span><span class=\"NormalTextRun SCXW19803622 BCX0\">dropped by<\/span> <span class=\"NormalTextRun SCXW19803622 BCX0\">6.8<\/span><span class=\"NormalTextRun SCXW19803622 BCX0\">%<\/span><span class=\"NormalTextRun SCXW19803622 BCX0\">,<\/span> <span class=\"NormalTextRun SCXW19803622 BCX0\">the ASEAN market has<\/span> <span class=\"NormalTextRun SCXW19803622 BCX0\">recovered to its pre-pandemic levels<\/span><span class=\"NormalTextRun SCXW19803622 BCX0\">, taking up a quarter of<\/span> <span class=\"NormalTextRun SCXW19803622 BCX0\">the <\/span><span class=\"NormalTextRun CommentStart SCXW19803622 BCX0\">APAC<\/span><span class=\"NormalTextRun SCXW19803622 BCX0\"> ex-Japan<\/span> <span class=\"NormalTextRun SCXW19803622 BCX0\">issuance.<\/span><\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1528\" height=\"753\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-2.03.30%E2%80%AFPM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"ASEAN - Syndicated Loans by Volume\" title=\"ASEAN - Syndicated Loans by Volume\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-2.03.30%E2%80%AFPM.png 1528w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-2.03.30%E2%80%AFPM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-2.03.30%E2%80%AFPM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-2.03.30%E2%80%AFPM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-2.03.30%E2%80%AFPM.png 192w\" sizes=\"auto, (max-width: 1528px) 100vw, 1528px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1015\" height=\"784\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.48.06%E2%80%AFPM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"ASEAN Loans by Use of Proceeds\" title=\"ASEAN Loans by Use of Proceeds\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.48.06%E2%80%AFPM.png 1015w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.48.06%E2%80%AFPM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.48.06%E2%80%AFPM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.48.06%E2%80%AFPM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.48.06%E2%80%AFPM.png 140w\" sizes=\"auto, (max-width: 1015px) 100vw, 1015px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span data-contrast=\"none\">Working capital accounted for the highest proportion of loan issuance purpose among ASEAN borrowers in 2024, making up 64% of the total volume. The USD was the most issued currency, with 48% of loans to ASEAN borrowers denominated in USD, followed by SGD and INR. The largest ASEAN loan signed this year was to CLA Real Estate for SGD 5.835 billion (USD 4.46 billion equivalent) as a club deal with DBS Bank, Oversea-Chinese Banking Corp and UOB. The loan was issued to CLA Real Estate for working capital and general corporate purpose, with a two-year extension option and two one-year extensions embedded.<\/span><\/p>\n<p><span data-contrast=\"none\">Among the mandated lead arranging banks, United Overseas Bank ranked top, followed closely by DBS and Oversea Chinese Banking Corp, making up market shares of 9.7%, 9.3% and 9.1% respectively. Among the bookrunners, United Overseas Bank claimed the top spot, followed by Sumitomo Mitsui Financial and Oversea-Chinese Banking Corp, with market shares of 9.0%, 8.5%, and 7.3% respectively.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<h2 data-ccp-border-between=\"0px none #000000\" data-ccp-padding-between=\"0px\">South Korea<\/h2>\n<p><span class=\"NormalTextRun SCXW196576796 BCX0\">South Korea&#8217;s loans market totaled <\/span><span class=\"NormalTextRun SCXW196576796 BCX0\">254<\/span><span class=\"NormalTextRun SCXW196576796 BCX0\"> deals<\/span> <span class=\"NormalTextRun SCXW196576796 BCX0\">worth USD <\/span><span class=\"NormalTextRun SCXW196576796 BCX0\">57<\/span><span class=\"NormalTextRun SCXW196576796 BCX0\">.<\/span><span class=\"NormalTextRun SCXW196576796 BCX0\">4<\/span><span class=\"NormalTextRun SCXW196576796 BCX0\"> billion i<\/span><span class=\"NormalTextRun SCXW196576796 BCX0\">n <\/span><span class=\"NormalTextRun SCXW196576796 BCX0\">2024. With an increase of <\/span><span class=\"NormalTextRun SCXW196576796 BCX0\">11.<\/span><span class=\"NormalTextRun SCXW196576796 BCX0\">7<\/span><span class=\"NormalTextRun SCXW196576796 BCX0\">% in total deal volume compared to the same period last year, <\/span><span class=\"NormalTextRun CommentStart SCXW196576796 BCX0\">South Korea<\/span><span class=\"NormalTextRun SCXW196576796 BCX0\">\u2019s loan issuance<\/span> <span class=\"NormalTextRun SCXW196576796 BCX0\">makes up<\/span> <span class=\"NormalTextRun SCXW196576796 BCX0\">10% of the total APAC volume.\u00a0<\/span><\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1531\" height=\"720\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-2.03.42%E2%80%AFPM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"South Korea \u2013 Syndicated Loans by Volume\" title=\"South Korea \u2013 Syndicated Loans by Volume\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-2.03.42%E2%80%AFPM.png 1531w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-2.03.42%E2%80%AFPM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-2.03.42%E2%80%AFPM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-2.03.42%E2%80%AFPM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-2.03.42%E2%80%AFPM.png 192w\" sizes=\"auto, (max-width: 1531px) 100vw, 1531px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1076\" height=\"782\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.50.04%E2%80%AFPM.png\" class=\"bbg-single-image__image attachment-full\" alt=\"South Korea Loans by Use of Proceeds\" title=\"South Korea Loans by Use of Proceeds\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.50.04%E2%80%AFPM.png 1076w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.50.04%E2%80%AFPM.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.50.04%E2%80%AFPM.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.50.04%E2%80%AFPM.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Screenshot-2025-01-24-at-1.50.04%E2%80%AFPM.png 149w\" sizes=\"auto, (max-width: 1076px) 100vw, 1076px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><span class=\"TextRun SCXW61629654 BCX0\" lang=\"EN\" xml:lang=\"EN\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW61629654 BCX0\">In the <\/span><span class=\"NormalTextRun SCXW61629654 BCX0\">2024 mandated lead arranger ranking<\/span><span class=\"NormalTextRun SCXW61629654 BCX0\">s<\/span><span class=\"NormalTextRun SCXW61629654 BCX0\">, KB Financial Group continued to claim the top <\/span><\/span><span class=\"TextRun SCXW61629654 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW61629654 BCX0\">spot with 3<\/span><span class=\"NormalTextRun SCXW61629654 BCX0\">8<\/span><span class=\"NormalTextRun SCXW61629654 BCX0\">% of the market share, followed by Shinhan Financial Group with 2<\/span><span class=\"NormalTextRun SCXW61629654 BCX0\">4.7<\/span><span class=\"NormalTextRun SCXW61629654 BCX0\">%. Lee &amp; Ko ranked the top legal firm for the Legal Adviser &#8211; Lender table<\/span><span class=\"NormalTextRun SCXW61629654 BCX0\">,<\/span><span class=\"NormalTextRun SCXW61629654 BCX0\"> and<\/span><span class=\"NormalTextRun SCXW61629654 BCX0\"> Kim &amp; Change ranked the top for<\/span><span class=\"NormalTextRun SCXW61629654 BCX0\"> the Legal Adviser &#8211; Borrower table.\u00a0<\/span><\/span><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h6><i><span data-contrast=\"auto\">The data included in these materials are for illustrative purposes only. The BLOOMBERG TERMINAL and Bloomberg data products (the \u201cServices\u201d) are owned and distributed by Bloomberg Finance L.P. (\u201cBFLP\u201d) except that Bloomberg L.P. and its subsidiaries (\u201cBLP\u201d) distribute these products in Argentina, Bermuda, China, India, Japan and Korea. BLP provides BFLP with global marketing and operational support. 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activities.<\/p>\n","protected":false},"author":1935,"featured_media":105095,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-article.php","format":"standard","meta":{"_yoast_wpseo_primary_category":"453","footnotes":""},"categories":[457,453,534],"tags":[3724,3698,526],"series":[],"class_list":["post-105173","post","type-post","status-publish","format-standard","hentry","category-financial-services","category-markets","category-regional-analysis","tag-emerging-markets","tag-enterprise-tech-and-data","tag-fixed-income","type-article"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Q4 2024 APAC syndicated loans market overview | Insights | Bloomberg Professional Services<\/title>\n<meta name=\"description\" content=\"Our analysis examines the syndicated loans market in Q4 2024, focusing on Greater China, South Korea, ASEAN, APAC ex-Japan, and the region&#039;s 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