Techcombank raises record US$1 billion loan facility
The financing deal marks the largest mid- to long-term syndicated term loan facility ever raised by a commercial bank in Vietnam.
HSBC Vietnam in cooperation with some international banks has provided Vietnam Technological and Commercial Joint Stock Bank (Techcombank), the fourth largest capitalized joint stock commercial bank in the local market, with a US$700 million senior unsecured syndicated term loan facility and a US$300 million greenshoe.
|A Techcombank's branch in Ho Chi Minh City. File photo|
The facility comprised different tranches with tenors of three, four, and five years. The financing deal marks the largest mid- to long-term syndicated term loan facility ever raised by a commercial bank in Vietnam.
HSBC acted as Joint Mandated Lead Arranger, Underwriter, and Bookrunner in the deal, successfully enticing an overwhelming response from the market. The loan was concluded with the participation of 26 banks in total, and the amount was upsized to US$1 billion from the initial target of US$700 million.
“This is a fantastic result for our customer and for Vietnam which continues to attract investors in an uncertain global macro environment", said Stephanie Betant - Head of Wholesale Banking, HSBC Vietnam, noting the deal helps support one of HSBC’s strategic financial partners in Vietnam’s market.
Alex Macaire, Group Chief Financial Officer of Techcombank, expressed his delight to have successfully accessed the international syndicated loan market with new records for the third year in a row.
“Achieving this milestone in the current challenging environment is a testament to the confidence and trust of international investors in Techcombank and the Vietnamese economy after conducting thorough due diligence,” he said.
This US$1 billion financing is Techcombank’s third syndicated facility in a short span of two years. Also, it showcases the rich potential of Vietnam’s capital market and the on-track economic recovery, sounding and affirming its appeal to the global market. Earlier in 2022, HSBC successfully arranged several syndicated loans for Vietnamese big names in the market, particularly the first green syndicated loan of US$500 million for Vingroup and its subsidiary Vinfast.
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