HSBC helps Masan secure $600 mln loan facility

HSBC Bank Vietnam has worked with other financial institutions to provide a $600 million syndicated loan to Vietnamese conglomerate Masan Group and its subsidiary The Sherpa Company Ltd.

HSBC Vietnam acted as joint mandated lead arranger, underwriter and bookrunner on the major transaction, which will serve the Ho Chi Minh City-based multi-sector group’s general corporate purposes, the lender said Friday.

The five-year facility marks the largest and longest tenor syndicated loan Masan has ever obtained.

Up to 37 lenders had joined this syndication, and the total amount was upsized to $600 million from the initial target of 4375 million, according to HSBC Vietnam.

“Despite the global uncertain environment, we have successfully arranged the fully underwritten transaction to fuel Masan’s passion to uplift the lives of Vietnamese consumers,” said Stephanie Betant, head of wholesale banking at HSBC Vietnam.

Masan Group said late this October that its January-September core profit after tax soared by 39.5% year-on-year to VND2,105 billion ($84.74 million). The private group’s ecosystem includes integrated retail, agriculture, mining, consumer goods, banking and finance.