The FINANCIAL — The amount of syndicated loans made in Australia this year is approaching an all-time high as acquisitions and more than $100 billion of refinancing drives companies to seeking funding from banks.
Some $101.4 billion of loans were signed since December 31, 65 per cent more than a year earlier and exceeding the pace set in the first 10 months of 2007, when a record $121 billion of bank debt was obtained, data compiled by Bloomberg show.
Wiggins Island Coal Export Terminal, backed by Xstrata and 15 other miners, obtained $3 billion of loans in September.
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