Masan Group Successfully Draws Down First Tranche of its USD650 Million Syndicated Loan, Despite Volatile Global Banking Market

Masan Group Successfully Draws Down First Tranche of its USD650 Million Syndicated Loan, Despite Volatile Global Banking Market

Masan Group Corporation (HOSE: MSN, “Masan” or the “Company”, today announced the successful disbursement of its USD375 million, the underwritten tranche of its USD650 million syndicated loan signed in February 2023 (the “2023 Syndicated Loan”).

The Company aims to fully utilize the 2023 Syndicated Loan via a greenshoe option of USD275 million later in the year. The transaction was arranged and underwritten by BNP Paribas, Credit Suisse, HSBC, Standard Chartered Bank, and United Overseas Bank (the “Mandated Lead Arangers and Bookrunners” or “MLABs”).

Despite recent volatility in the global banking market, Masan was able to fully draw down the underwritten portion of the 2023 Syndicated Loan, ensuring a healthy financial profile. The loan is priced at 3.5% over the U.S Dollar Secured Overnight Financing Rate (“SOFR”), or approximately 8.0% per annum. With a 5-year tenor, the 2023 Syndicated Loan will extend Masan’s debt maturity profile and strengthen Masan’s liquidity ratios. As interest rates decline and the capital market stabilizes, management will continue to optimize Masan’s balance sheet, reduce interest expense, and deleverage via strategic corporate actions.

In a challenging macro environment, the ability to generate stable cash flows from the manufacturing and retailing consumer staple products (such as groceries, instant noodles, seasonings, etc.) businesses and proven track record of accessing multiple capital markets will allow the Company to win market share and invest in future growth. With its cash position, Masan is well positioned to continue investing in new innovations as well as expanding the consumer-retail platform while maintaining a healthy balance sheet.

MASAN GROUP CORPORATION

Masan Group Corporation (“Masan” or the “Company”) believes in doing well by doing good. The Company’s mission is to provide better products and services to the 100 million people of Vietnam, so that they can pay less for their daily essentials. Masan aims to achieve this by driving productivity with technological innovations, trusted brands, and focusing on fewer but bigger opportunities that impact the most lives.

Masan Group’s member companies and associates are industry leaders in branded fast moving consumer goods, branded meat, modern retail, F&B retail, financial services, telecommunications, and value-add chemical processing, altogether representing segments of Vietnam’s economy that are experiencing the most transformational growth.

FiLi