FE Credit raises $100 million in financing arranged by Credit Suisse
FE Credit raises $100 million in financing arranged by Credit Suisse
VPBank Finance Company Limited (FE Credit) today announced that the company had obtained a $100 million senior secured term loan committed with Credit Suisse AG Singapore on December 28, 2016 to supplement working capital as it continues to build its domestic consumer finance services business.
The facility, which is secured over a portfolio of FE Credit’s consumer loan receivables, will help further the company’s ambition to be the leading consumer finance organisation in Vietnam.
“We are very pleased to have such a positive response from our international banking partners in the facility,” said Kalidas Ghose, CEO of FE Credit. “This facility enables the company to raise capital for our growing business and provides strong support for our business operations. It demonstrates the trust that international banks have in the business performance, and the sustainable growth vision of FE Credit.”
Over the past six years, FE CREDIT has served nearly three million Vietnamese customers across Vietnam who is often neglected by banks, in providing the advanced products, from personal loans, two-wheeler loans and consumer durables loans to credit cards.
FE CREDIT was awarded by the Global Brands Magazine (United Kingdom) the title of “Best Consumer Finance Brand, Vietnam 2016” and awarded by the Global Banking & Finance Review (United Kingdom) the title of “Best Consumer Finance Company Vietnam 2016”.
