India Inc loan soars to $8.3 bn
Corporate India has raised over $8 billion through syndicated loans by way of 33 deals in the first half of this year led by Reliance Industries, which alone mopped up a whopping $2.7 billion.
By PTI |
NEW DELHI: Corporate India has raised over $8 billion through syndicated loans by way of 33 deals in the first half of this year led by Reliance Industries, which alone mopped up a whopping $2.7 billion.
"Syndicated loans volume of India Inc was at $8.3 billion for the first half of this calendar year, witnessing a steady growth over previous year figure of $8.1 billion through 41 deals," global consulting firm Dealogic said.
Corporate behemoth RIL single handedly raised $2.7 billion by syndicated loans through three deals with a consortium of 26 banks in the first six months of this year.
Homegrown major Tata Group raised $400 million, British mobile giant Vodafone and largest lender State Bank of India both mopped up $300 million each while HDFC gathered $285 million through syndicated loans.
Syndicated loan refers to a large sum of funds provided by a group of banks collectively to a borrower. There is usually one lead bank that takes a percentage of the loan and syndicates the rest to other banks.
Other firms among top ten borrowers from India were - realty player Emmar MGF Land, Horizon India BV, Cheung Kong Holdings, Havell's Netherland NV and Jaiprakash Associates.
Besides, textile sector generated $2.2 billion accounting for 26.9 per cent of total Indian loan volume in first half of 2007, followed by the construction or building sector with total proceeds of $1.6 billion.
Global financing major Citigroup topped the chart of book runners with volume of $974 million through four deals amounting to a market share of 11.7 per cent.
Standard Chartered followed suit with a volume of $667 million by way of eight deals representing 8 per cent share of the market.
"Syndicated loans volume of India Inc was at $8.3 billion for the first half of this calendar year, witnessing a steady growth over previous year figure of $8.1 billion through 41 deals," global consulting firm Dealogic said.
Corporate behemoth RIL single handedly raised $2.7 billion by syndicated loans through three deals with a consortium of 26 banks in the first six months of this year.
Homegrown major Tata Group raised $400 million, British mobile giant Vodafone and largest lender State Bank of India both mopped up $300 million each while HDFC gathered $285 million through syndicated loans.
Syndicated loan refers to a large sum of funds provided by a group of banks collectively to a borrower. There is usually one lead bank that takes a percentage of the loan and syndicates the rest to other banks.
Other firms among top ten borrowers from India were - realty player Emmar MGF Land, Horizon India BV, Cheung Kong Holdings, Havell's Netherland NV and Jaiprakash Associates.
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Besides, textile sector generated $2.2 billion accounting for 26.9 per cent of total Indian loan volume in first half of 2007, followed by the construction or building sector with total proceeds of $1.6 billion.
Global financing major Citigroup topped the chart of book runners with volume of $974 million through four deals amounting to a market share of 11.7 per cent.
Standard Chartered followed suit with a volume of $667 million by way of eight deals representing 8 per cent share of the market.
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