Published: February 16, 2013
But Rosneft deal means EMEA holds highest ever proportion for the period.
Syndicated loans in emerging markets are at their lowest year-to-date volume since 2009.
Loans struck so far in 2013 stand at US$33.7bn, down 16% on the US$40.1bn achieved in the same period of 2012 and the lowest such total since the US$24.9bn recorded in 2009, calculate analysts at Dealogic, which tracks these transactions.
Meanwhile, the average deal margin on loans by emerging-market borrowers this year is 257bps, the highest on record.
Europe, the Middle East and Africa (EMEA) holds its highest ever share of emerging-market loan volume at 47%, thanks to Rosneft's US$14.2bn transaction announced this week, the second part of its loan package to fund the acquisition of TNK-BP.
Bankers are still confident of a good year. In our latest issue, Cristian Jonsson, Standard Chartered's new global head of loan syndication, says an upturn in M&A should drive activity across the regions.