Asian loan volumes are poised for a rebound in 2024 thanks to expected deal flows in Australia and India that should help offset the dent from China’s economic slowdown.
That’s the view of a number of bankers who recently gathered at the Asia Pacific Loan Market Association conference in Singapore. AirTrunk’s A$4.6 billion loan last month, Australia’s largest syndicated deal this year, and Adani Group’s talks for borrowings to refinance $3.5 billion of debt are among signs of the likely pickup in activity in those two countries.
But a revival in sponsor-backed merger and acquisition activity, along with an expected end to the rate-hike cycle by most major central banks could help change the dynamic next year. Loan volumes in the region will likely rise at least 10% in 2024, according to Amit Khattar, Asia Pacific head of investment banking and co-head of global financing and credit trading at Deutsche Bank AG.
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