TCBS successfully mobilised $125 million unsecured loan syndication

Friday, Dec 09, 2022 16:46

TCBS has mobilised more than $300 million the international capital market in the past year. — Photo

Techcom Securities (TCBS) has signed an unsecured loan syndication contract worth about VND2.9 trillion (US$125 million), bringing the total mobilised value of the international capital market to more than $300 million in the past year, the highest in the country's security industry.

Four major financial institutions, including CTBC Bank, Taishin International Bank, Sumitomo Mitsui Banking Corporation (SMBC - Singapore) and Maybank Securities (Singapore), a member of the Maybank Investment Banking Group, co-arranged the loan syndication.

The successful mobilisation of a large-scale unsecured loan has proved TCBS's position and prestige in the eyes of foreign financial institutions and the confidence of international organisations in TCBS's long-term sustainable growth, particularly Viet Nam's stock market in general.

The $125 million syndicated loan is the third successful international capital raised by TCBS in 2022, after a syndicated loan of $170 million in April from four leading institutions from Taiwan, including Cathay United Bank, CTBC Bank, Taipei Fubon Bank and Taishin International Bank), and bilateral loan co-operation with HSBC Singapore Bank with a limit of $30 million in September. The above deposits are unsecured loans with no collateral.

TCBS has the highest credit rating based on the value of international unsecured loans of approximately VND8 trillion.

Nguyen Tuan Cuong, TSBS's Deputy General Director, said: "The prestige and credit rating of an enterprise is the first condition for international financial institutions to consider a loan. The fact that TCBS has continuously successfully mobilised many unsecured loan contracts from major financial institutions confirms its capacity and reputation in the international market. The proactive diversification of both domestic and foreign capital is one of the strategic steps to make TCBS the largest asset management technology company (Wealthtech) in Viet Nam in terms of equity, profitability and performance of core businesses."

TCBS also announced a plan to issue private shares worth more than VND10 trillion, increasing its total equity to over VND21 trillion, becoming one of the companies with the highest equity in the industry.

TCBS will continue to use the capital to invest in banking activities, enhance competitiveness in the securities industry and provide financial support to customers with the best cost in the market, according to the company. — VNS

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