(Bloomberg) -- India’s slowing economy is sparking a wave of consolidation, creating opportunities for Asian lenders.
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It’s worked like this: Banks desperate for higher yields have turned to lending for leveraged buyouts in India. The loans have supported private equity funds executing the deals.
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Foreign-currency syndicated LBO loan volumes involving India have jumped to $891 million across four deals in 2019, compared with $150 million from a single transaction last year, according to data compiled by Bloomberg.
Some Highlights:
- Baring Private Equity Asia signed a $360 million loan recently backing the purchase of a stake in NIIT Technologies
- Blackstone Group signed a $166 million LBO loan facility earlier this year for financing the acquisition of Essel Propack Ltd.
©2019 Bloomberg L.P.
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