Asian loans up in 1999

Asian loans up in 1999

HONG KONG (Dow Jones): The total volume of syndicated loans in Asia, including Australia and Japan, more than doubled last year to US$218.4 billion from US$99.8 billion in 1999, according to data released on Tuesday by Thomson Financial.

With US$100.3 billion, Japan's loan volume in 2000 accounted for 46 percent of the total Asian loan volume, rising significantly from the previous year's US$36.6 billion volume, Thomson said in a release.

Excluding Japan and Australia, Asian loan volume doubled last year to US$85.264 billion from US$40.95 billion in 1999. Volume in Hong Kong over the same period surged to US$29.963 billion from US$7.135 billion in 1999.

Last year's volume of syndicated loans in Singapore doubled compared with 1999, but remained at a modest level, at US$4.849 billion.

Japan's Mizuho Financial Group topped last year's league table for all Asian deals, excluding Australia, with 146 deals worth US$50.4 billion. Sumitomo came second with 63 deals worth US$15.3 billion.