Viet Capital Securities Joint Stock Company said it has successfully signed a deal for a syndicated loan worth US$100 million with a greenshoe option to extend it to $150 million.

The credit facility was arranged by Maybank Kim Eng Securities Pte Ltd, with Malayan Banking Berhad’s Singapore branch being one of the lenders.

Other foreign banks in the deal First Commercial Bank, Hua Nan Commercial Bank, Taishin International Bank, Chang Hwa Commercial Bank, Taiwan Business Bank, Taiwan Cooperative Bank, KEB Hana Bank, and Sunny Bank.

The loan has short-term interest rates based on the international money market, and is expected to be disbursed in two instalments.

This marks a bigger, more successful fund-raising exercise for the company following a $40 million syndicated unsecured loan from a group of banks led by Bank Sinopac in early 2020.

The company said the positive response from the market is “testament to its credit standing” among investors, and is expected to pave the way for more offshore syndicated transactions in the future.

Getting large foreign loans at competitive costs would give it more resources to promote its business, it said in a release.

It plans to use the money for securities brokerage and financial support services for customers, especially margin lending at competitive costs and volumes. — VNS