HSBC supports Techcombank to raise historic US$1 billion loan facility

Friday, Jul 22, 2022 11:55

HSBC Head office is located at The Metropolitan Building, Dong Khoi Street, Ben Nghe Ward, 1 District, HCM City. — Photo courtesy of HSBC

HSBC Bank (Vietnam) Ltd has co-operated with several other banks to provide Vietnam Technological and Commercial Joint Stock Bank (Techcombank), the fourth largest capitalised joint stock commercial bank in the local market, with a US$700 million senior unsecured syndicated term loan facility and a $300 million greenshoe.

The facility comprises 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 Viet Nam.

HSBC acted as Joint Mandated Lead Arranger, Underwriter and Bookrunner in the remarkable 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 $1 billion from the initial target of $700 million.

This $1 billion financing is Techcombank’s third syndicated facility in a short span of two years. Also, it showcases the rich potential of Việt Nam’s capital market and the on-track economic recovery, affirming its appeal to the global market.

In 2022, HSBC successfully arranged several syndicated loans for Vietnamese big names in the market, particularly the first green syndicated loan of $500 million for Vingroup and its subsidiary Vinfast. — VNS

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