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JPMorgan leads mining loan rebound amid price slump: Commodities

Posted on 17 January 2014

JPMorgan Chase & Co. (JPM) is leading a rebound in bank lending to mining and energy companies, which are taking out the most loans since 2011 to refinance debt as commodity prices slump and acquisitions slow.
Raw-material industries boosted borrowing by 17 percent last year to $684.7 billion, after a 22 percent drop in 2012, data compiled by Bloomberg show. The top lenders were U.S. banks JPMorgan at $57.1 billion, Wells Fargo & Co. (WFC) at $47.1 billion and Bank of America Corp. (BAC) at $37.8 billion. The figures reflect transactions involving more than one bank and include credit lines, project or term loans and trade finance………………………………………..Full Article: Source


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