Healthy growth in the syndicated loan market 17 March 2015 4:31PM John Kavanagh Australia's syndicated loan market grew by six per cent to US$106 billion of origination in 2014, according to the latest KPMG Debt Market Update.There were 54 transactions in the December quarter, worth US$34.8 billion. Several of them were multi-billion dollar deals: Origin Energy, APA Group, Vodaphone and Stella EWL Finance (the East West Link consortium of Lend Lease, Capella, Acciona and Bouygues) were each involved in syndications worth more than US$3 billion.Origin's pricing ranged from a margin of 125 basis points to 140 bps. Stella EWL's margin was 200 bps on the top tranche of the deal.KPMG said upcoming asset sales announced by the Federal and state governments, worth a total of around US$90 billion, could involve significant debt funding."Such a substantial transfer of debt from Federal and state treasuries to the private sector could place upward pressure on debt pricing and market capacity," KPMG said."However, provided there is an orderly phased sale process and sensible debt structures are put in place, debt volumes should be absorbed and pricing maintained."