Syndicated lending volume continued to grow explosively in the third quarter, largely on the strength of a surge in merger and acquisition activity.

The volume of syndicated bank loans reached $203.3 billion, breaking a record of $164.1 billion set in the previous quarter, according to Loan Pricing Corp. a New York financial data publishing company. Volume was up from $81.9 billion in the third quarter of 1993, Loan Pricing said.

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