Vietcap Securities signs $75 mln loan with Maybank, Taishin

Vietcap Securities, a major stock brokerage house in Vietnam, has signed syndicated loan financing for $75 million, with a greenshoe option of up to $50 million, the firm announced Thursday.

The firm, listed on the Ho Chi Minh Stock Exchange (HoSE) as VCI, said the loan was arranged by Singapore-headquartered Maybank Securities Pte. Ltd. and the Singapore branch of Taiwan-based Taishin International Bank Co., Ltd.

The loan followed two other successful fundraising rounds of Vietcap in 2023. In July, Vietcap raised $45 million arranged by Shanghai Commercial and Savings Bank, Ltd. through the lender’s offshore banking branch. In August, the firm completed a $100 million syndicated loan arranged by Mega International Commercial Bank through the latter’s offshore banking branch.

Previously, Vietcap conducted a fundraising round of $105 million arranged by Maybank Securities Pte. Ltd. and O-Bank Co., Ltd. in October 2022, $100 million arranged by Mega International Commercial Bank in May 2022, $100 million arranged by Maybank Securities Pte. Ltd. (then known as Maybank Kim Eng Securities Pte. Ltd.) in November 2021, and $40 million led by Bank Sinopac.

Expanding foreign loans with substantial capital at competitive costs will provide Vietcap with more resources to enhance its activities, Vietcap said.

Vietcap had its name changed from Viet Capital Securities in April this year. Nguyen Thanh Phuong remains the chair of Vietcap's Board of Directors.

Shares of Vietcap, listed on the Ho Chi Minh Stock Exchange as VCI, jumped 3.58% to VND42,000 ($1.73) each at the close on Friday.