Techcombank, one of Vietnam’s leading private lenders, has acquired a $1 billion trade loan facility from 26 foreign banks, marking the largest mid- to long-term syndicated term loan facility ever raised by a commercial bank in Vietnam.
HSBC acted as the joint mandated lead arranger, underwriter and book-runner in the deal. The loan has been concluded with the participation of 26 banks in total, with a $700 million senior unsecured syndicated term loan facility and a $300 million greenshoe, HSBC Vietnam announced Thursday.
The trade facility comprises different tranches with tenors of three, four, and five years, it said.
“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 with HSBC Vietnam.
“The HSBC team is particularly proud of the role we have played in this transaction, underscoring our strong and competitive origination and syndication capabilities, as well as our ability to support one of HSBC’s strategic financial partners in Vietnam’s market.”
Alex Macaire, group chief financial officer of Techcombank, said: “Achieving this milestone in the current challenging environment is a testament to the confidence and trust international investors have in Techcombank and the Vietnamese economy after conducting thorough due diligence.
The loan facility would help Techcombank continue to deliver its growth strategy and provide outstanding services to the bank's growing customer base, Macaire said.
The $1 billion financing is Techcombank’s third syndicated loan facility in a short span of two years. 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 this year, HSBC successfully arranged a number of syndicated loans for several major Vietnamese companies including the first green syndicated loan of $500 million for the country’s largest listed conglomerate Vingroup and its electric vehicle maker VinFast.