The amount of syndicated bank debt that FTSE 350 companies have been able to refinance has risen 76 per cent over the past quarter, a further sign of improving credit market conditions.

Seventy-four FTSE 350 companies refinanced £52.3bn ($85.9bn) in syndicated bank debt in the past three months that had been due to mature within the next five years, according to an analysis of Bloomberg data by lawyers Freshfields Bruckhaus Deringer.