The value of syndicated corporate loans originated in Australia during the September quarter was US$11.7 billion, according to figures released by KPMG yesterday.Lending was down 27 per cent from the $15.9 billion of syndicated loans originated in the September quarter last year, and down 62 per cent on originations in the September quarter in 2011.KPMG said loan deal numbers were also down on 2012 and 2011 levels.Margins have come down by as much as 50 basis points for investment grade credit this year. Margins for AAA-rated borrowers have remained flat, but margins for BBB-rated borrowers have improved by about 10 basis points. Margins on A-rated loans have improved by 38 basis points, and margins on AA-rated loans have improved by 51 basis points.KPMG said: "Lenders now appear to be looking to focus on their top-line growth, competing on price and loan terms in an attempt to increase their market share."Borrowers continue to be in a strong position when seeking refinancing and new-money financing for investments or acquisitions."