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Asia borrowers win as banks compete

Banks faced with scant growth in the West are heading East in search of better returns and funding companies from resort operators to pig farmers

Shanghai-based Fosun International, which is bidding to take control of Club Mediterranee (above) , obtained a seven-year 550 million euro (S$884 million) loan in April to help buy the insurance unit of Portuguese lender Caixa Geral de Depositos.

THE neediest companies in Asia are getting a warmer reception in the loan market than their European counterparts as banks, flush with deposits, support the fastest economic expansion in two years. Borrowers in the region rated below investment grade have obtained US$27.7 billion of loans this...

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