Techcombank's headquarter in Hà Nội. The successful conclusion of this transaction further solidifies the market’s trust and confidence in Techcombank. — Photo courtesy of the bank

Techcombank has successfully concluded its fourth offshore syndicated loan with a total of 15 banks participating and providing a strong oversubscription of the US$200 million facility.

The syndicated loan facility of 3-year tenor was launched on a selective basis in January this year. It was well-received and oversubscribed by a consortium of leading international financial institutions, highlighting Techcombank’s credibility and reputation within the global financial community.

The financing was fully underwritten and pre-funded by the following Mandated Lead Arrangers, Underwriters and Bookrunners: First Abu Dhabi Bank PJSC, Landesbank Baden-Württemberg, Mizuho Bank, Ltd, MUFG Bank Ltd and Oversea-Chinese Banking Corporation Limited. The participating lenders were from diversified regions including Middle East, the Philippines, People’s Republic of China and Taiwan. The syndication was also successful in expanding Techcombank’s lender-base with more than half being first-time lenders.

The successful conclusion of this transaction further solidifies the market’s trust and confidence in Techcombank as well as its robust capital and earnings profile even during a prolonged period of economic slowdown and market headwinds.

The proceeds raised from this syndicated loan are used for Techcombank’s general corporate and working capital purposes, and will bolster the bank’s ability to meet the increasing medium- and long-term funding needs of its customers in both foreign and local currencies. — VNS