The volume of syndicated real estate finance loans across the EMEA region in the first half of this year reached its highest level since 2008, according to Dealogic.
There were €27.6bn of loans syndicated in the first six months of the year and the number of deals totalled 75. It is the highest level since the first half of 2008 and represents a 29% increase on the same period last year when €21.4bn of loans were syndicated.
Syndication is used by lenders to manage balance sheet capacity and capital constraints efficiently. It also allows a wide range of lenders to participate in loans they didn’t originate themselves.
In the first half of the year, the UK was the largest national market, with a 31% share of the total.
HSBC, BNP Paribas, Credit Agricole and JP Morgan have been the most active. Others that have increased their activity significantly include Citi, Lloyds, RBS and Santander.
Stuart Perry, head of leveraged and asset finance syndicate loan syndications, BNP Paribas, said: “The last 12 months have seen our real estate finance franchise go from strength to strength, as our focus on our core clients and good structuring pays dividends despite the ever increasing competition in the market.”
Matt Webster, global head of real estate finance at HSBC, said: “The increased market transparency provided by these league tables is bringing more finance parties to the market as they feel more comfortable in their market understanding and recognise the benefit of the information flow.”
Peter Cosmetatos, chief executive of CREFC Europe, added: “As reporting continues to improve and the time series builds up, the league tables should become ever more interesting and valuable for market participants and observers alike.”
The league tables are part of a new series launched by Dealogic with support from CREFC Europe, whose chief executive Peter Cosmetatos said: “As reporting continues to improve and the time series builds up, the league tables should become ever more interesting and valuable for market participants and observers alike.”