The financing enables TCBS to invest in infrastructure and cutting-edge technologies. — Photo courtesy of Standard Chartered
Standard Chartered, a leading international bank, will co-lead a number of banks in the successful execution of a VNĐ4.45 trillion (US$175 million) syndicated loan for Techcom Securities (TCBS).
Standard Chartered Bank, along with CTBC Bank, Taipei Fubon Commercial Bank, Taishin International Bank and KGI Bank, acted as Mandated Lead Arrangers and Bookrunner (MLABs) for this unprecedented unsecured syndicated loan for a Vietnamese securities firm.
The financing enables TCBS to invest in infrastructure and cutting-edge technology such as Machine Learning and GenAI, with the aim of better understanding the market and customer needs to flexibly manage wealth and save clients’ time, develop TCBS’s internal capabilities to differentiate from competitors and make effective, timely business decisions.
The company will continue to leverage its strong financial position to maintain the best market conditions for customers with policies such as zero-fee trading and margin loan packages.
Through this deal, TCBS reaffirmed its position as one of the leading securities firms with a robust credit profile through two key factors: being the first Vietnamese securities company to have Standard Chartered Bank arrange and finance a US dollar syndicated loan, and becoming the first securities firm to close the largest unsecured syndicated loan in Việt Nam’s securities industry, valued at $175 million. This brings the total cumulative value of unsecured international syndicated loans obtained by TCBS since late 2020 to over $761 million.
Nguyễn Thúy Hạnh, Deputy General Director, Head of Corporate and Investment Banking, Standard Chartered Vietnam said: “We are pleased to co-lead this transaction which marks our first lead mandate for Techcom Securities and another lead mandate for Techcombank Group in the syndicated loan market.
"We have been proud partners to the Techcombank Group and this milestone reinforces our commitment to delivering a successful financing solution and supporting growth opportunities, particularly in the thriving Vietnamese securities market. With this latest financing, we are confident that Techcom Securities will continue to expand and innovate, setting new benchmarks of success in the industry.”
Swati Roy, Regional Head of Financing Solutions, ASEAN and Australia at Standard Chartered Bank, added: “We are delighted to note that the transaction has enjoyed very strong commitments from the banking community, leading to a successful syndication close with an upsized amount of $175 million.
"This transaction has set the benchmark as the largest syndicated loan in the Vietnamese securities space and Standard Chartered is honoured to have contributed to this successful outcome for Techcom Securities through our strong markets knowledge combined with origination and structuring capabilities and a global distribution network.”
Nguyễn Thị Thu Hiền, CEO of TCBS, highlighted that a company's reputation and credit rating are crucial for international financial institutions when considering granting a loan. TCBS has continuously demonstrated its capability and standing in the global market by successfully securing numerous large-scale unsecured loans from major financial institutions.
Diversifying its funding sources both domestically and internationally is a strategic move for TCBS to become Việt Nam's largest Wealthtech firm in terms of equity, profitability, and operational efficiency. Conversely, Hiền noted that international financial institutions seek to partner with industry-leading companies that exhibit stability and growth potential. This is why TCBS is the first Vietnamese securities firm to have Standard Chartered Bank arrange an unsecured US dollar syndicated loan. — VNS