Vietcap (VCI) signs $75 million syndicated loan facility
Vietcap (VCI) signs $75 million syndicated loan facility
Vietcap Securities (HSX:VCI) has announced that it signed syndicated loan financing for $75 million (VND1.82 trillion) on November 22, incorporating a 'greenshoe option' up to $50 million (VND1.21 trillion).
The loan was arranged by Maybank Securities Pte. Ltd. and Taishin International Bank Co., Ltd. Singapore Branch, as mandated lead arrangers and bookrunners.
A 'greenshoe option' is a provision in an initial public offering underwriting agreement that grants the underwriter the right to sell more shares than originally planned.
The loan represents yet another successful fundraising endeavour for Vietcap following two previous fundraising rounds earlier this year. The positive response from the market is a testament to Vietcap’s credit standing among investors and is expected to pave the way for future offshore syndicated transactions.
Vietcap’s previous syndicated loan facilities include $100 million arranged by Mega International Commercial Bank through its offshore banking branch in August, and $45 million arranged by Shanghai Commercial and Savings Bank, Ltd. through its offshore banking branch in July.
In October last year, Vietcap secured $105 million, with a greenshoe option for a facility size of up to $150 million, arranged by Maybank Securities Pte. Ltd. and O-Bank Co., Ltd. as mandated lead arrangers and bookrunners, with Malayan Banking Berhad, Singapore Branch as one of the lenders.
The previous May, Vietcap wrapped up a loan of $100 million arranged by Mega International Commercial Bank through its offshore banking branch.
In late 2021, the company received $100 million, with a greenshoe option for a facility size of up to $150 million, from a group of banks arranged by Maybank Kim Eng Securities Pte. Ltd., with Malayan Banking Berhad, Singapore Branch as one of the lenders. The company also secured a $40 million syndicated unsecured loan from a group of banks led by Bank Sinopac.
Vietcap is committed to delivering the best service quality to customers and optimising benefits for shareholders. It is believed that by expanding its foreign loans with substantial capital at competitive costs will provide Vietcap with more resources for expansion.
