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Finance

Japan's syndicated loans to India climb 20%

Regional banks flock to capture demand for low-cost financing

A JSW Steel mill in southwest India: The steelmaker is among the borrowers to receive a syndicated loan from Japanese banks last year. (Photo courtesy of the company)

TOKYO -- Japanese lenders extended $1.53 billion in syndicated loans to Indian companies in 2019, up a fifth on the year, as yield-starved banks captured booming demand for low-cost financing.

India is now the second-biggest home to so-called samurai and ninja loans, trailing only the U.S. figure of $3.47 billion, figures from Refinitiv show. The Indian scale has increased by more than 10 times since 2017.

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