A syndicate of banks will extend a $9bn (€5.7bn) loan to Time Warner Cable as part of its announced spin-off from parent Time Warner, which would be the eighth largest global syndicated loan this year if all goes as planned, according to market research from Dealogic.

The complex spin-off, expected to close in the last three months of this year, involves Time Warner Cable’s declaring a $10.9bn dividend to its shareholders.