Standard Chartered Vietnam’s CEO and Head of Banking and Coverage Nguyễn Thuý Hạnh and Chairman of Stavian Chemical – Đinh Đức Thắng at the financing splutions new deal announcement in Hà Nội. Photo courtesy of the bank
Standard Chartered acted as the sole mandated lead arranger and bookrunner in a VNĐ2.5 trillion (US$100 million) maiden offshore syndicated loan transaction for Stavian Chemical Joint Stock Company (Stavian Chemical), opening up future opportunities for the company’s business growth.
Standard Chartered advised Stavian Chemical on the financing structure and strategised a market approach, forming a bank group to achieve Stavian Chemical’s goal of raising the facility amount and demonstrating its ability to work with Stavian Chemical to prepare a detailed information pack, organise a site visit, and manage the due diligence process with the lenders.
This deal will enable Stavian Chemical -- a Việt Nam-based multinational industrial enterprise, top 17 largest global chemical distributor, and leading biodegradable plastic packaging manufacturer -- to tap into the full $50 million greenshoe option and up the syndicated short-term loan facility to $100 million. This maiden transaction in the US dollar syndicated loan market is strategically important for Stavian Chemical, as it enables the firm to diversify its funding sources and obtain financing that acts as a natural hedge to its business, which is primarily denominated in foreign currency. The offshore syndicated loan market would also allow Stavian Chemical to tap into a deeper pool of funding sources and provide greater flexibility to manage its funding strategy.
Standard Chartered Vietnam’s CEO and Head of Banking and Coverage Nguyễn Thuý Hạnh said: "Being client-focused, we constantly leverage our in-depth industry knowledge and international expertise to deliver solutions that meet the evolving needs of our clients. I would like to extend our sincere thanks to Stavian Chemical for placing their trust in us, which is a great motivation for us to continue innovating and enhancing our capabilities to serve clients even better. Being deeply rooted in Việt Nam for 120 years, Standard Chartered is committed to delivering successful financing solutions and supporting growth in Việt Nam and across our network. In particular, for Stavian Chemical, we have also connected the client with our network in China, Hong Kong, ASEAN markets, and many more to come as the company implements its global growth plan.”
Chairman of Stavian Chemical Đinh Đức Thắng said: “During 15 years of development, we have established solid relationships with both local and foreign banks in Việt Nam. This deal marks a milestone in our financing activities as a global distributor with customers in more than 100 countries and territories. With our strong financial status combined with onshore and offshore funding sources, we are confident in our ability to fulfill our long-term growth strategy in trading and manufacturing worldwide.” — VNS