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Loans

Days of cheap cash gone ... for now

By Chito Santiago


The loan syndication market used to be a borrowers' market where banks were willing to lend even at rock bottom pricing levels. In a reversal of role, as the cost of funding has shot up, borrowers are having to put up with higher spreads. Lenders have become much more selective and less willing to underwrite as they see safety in numbers, where several banks can agree on a pricing and share the risk

Loans

CITIC Securities

By Amy Lam

CITIC Securities, China's biggest brokerage, is in the process of investing US$1 billion into Bear Stearns, the US investment bank hobbled by the US subprime exposures. The move is part of an exclusive strategic alliance to form a joint venture Asian investment bank giving the beleaguered bank a foothold in the world's best performing stockmarket.

Loans

ING, Credit Agricole secure GSIS mandate

By Chito Santiago

The Philippine state-owned pension fund, Government Service Insurance System (GSIS), has awarded to ING Investment Management and Credit Agricole Asset Management(Singapore) the mandates for its US$1 billion global investment programme(GIP).

Loans

Haunted by its past

By Daniel Yu

As the annual meeting of the Asian Development Bank 2008 in Madrid comes to a close, there is once again the usual patting-of-the-back for a job well done as governors from the member-countries t.....