GLOBAL SYNDICATED LOANS MARKET: CURRENT STATE, STRUCTURE AND MAIN TRENDS

• Main Author: I. A. Balyuk
• Format: Article
• Language: Russian
• Published: Government of the Russian Federation, Financial University 2017-10-01
• Series: Финансы: теория и практика
• Subjects: syndicated loans; global market; russian borrowers; economic sanctions; arranging banks
• Online Access: https://financetp.fa.ru/jour/article/view/273
• ISSN: 2587-5671; 2587-7089

Although economic sanctions imposed by USA and EU have significantly limited access of the Russian state-owned banks and corporates to the international credit resources, nevertheless, there is a possibility for the private Russian banks and companies to tap the market. First of all this regards global syndicated loans market. The article is based on a thorough analysis of the statistics compiled by the leading international information agencies, European Bank for Reconstruction and Development and Bank for International Settlements and presents a picture of the current state and structural specifics of the global syndicated loans market. The author also analyzes its main development trends and the Russian borrowers’ part and prospects in this segment of the global debt market. The article has a conclusion that diversification of the global syndicated loans market strengthens due to an active participation of the borrowers from developing countries. Though USA still keeps the leading position in the global syndicated loans market, however one of the main trends is an equalization of the other countries’ shares. In the author’s opinion, in spite of the fact that in 2014-2015 the Russian share in the total volume of the global syndicated loans market reduced, the Russian corporates and banks having an access to the international syndicated loans market will continue to explore this source of funding.