Asian loan markets are at a crossroads. 2016 has been a dismal year for the product with volumes declining to a three-year low amid market volatility, slow economic growth and limited M&A activity. The 12% year-on-year drop in the first nine months of 2016 compounds a similar decline in the same period in 2015, which was already reeling from a slowing Chinese economy.
IFR Asia/LPC Evolution of Asian Loans Roundtable 2016: Roundtable participants
IFR ASIA/LPC: A warm welcome to everyone and a very good afternoon. Thank you for taking the time. Justin, could you please give us a brief overview of the year so far in syndicated loans for this business? Do you find it has changed and become more challenging?
IFR ASIA/LPC: Richard, do you agree with Michel on the pricing that you see in secondary markets on loans? Do you buy them at those kind of levels and are they attractive?