Cheap loans a growing draw for Asia's blue chips

Banks, in turn, are looking to get more bang for their buck by cross-selling bonds and equity with loans.
Reliance Industries, controlled by Mukesh Ambani, paid an all-in cost of Libor plus 175bp for its loan
Reliance Industries, controlled by Mukesh Ambani, paid an all-in cost of Libor plus 175bp for its loan

Big corporates appear increasingly to be making a beeline for Asia's revitalized loan market while banks, eager to put more money to work, are looking to exploit the opportunities created to cross-sell their services.

When Indian conglomerate Reliance Industries closed its $1.75 billion loan earlier this month, it took advantage of banks' lower cost of funding and the loan market's resurgent levels of liquidity.

We have banks that have not participated in loans in Asia since the global financial crisis as well as smaller banks in the region coming into Indian primary loans for the first time, Vineyesh Sawhney, senior vice president of finance at Reliance Industries, told FinanceAsia in a...

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