Techcombank secures major syndicated loan
HSBC Vietnam and other financial institutions have agreed to provide a syndicated loan worth 700 million USD, with a greenshoe option of 300 million USD, for the Vietnam Technological and Commercial Joint Stock Bank (Techcombank).
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| Techcombank headquarters in Hanoi. (Photo: VietnamPlus) |
The transaction, involving 26 banks, is the biggest medium- and long-term syndicated loan for a commercial bank in Vietnam.
Stephanie Betant, head of wholesale banking at HSBC Vietnam, described the deal as an illustration of the market’s attractiveness to investors even amid uncertainties in the global macro-environment.
Alex Macaire, Group Chief Financial Officers at Techcombank, said the success of this deal shows international investors’ trust in his bank and the Vietnamese market, and that the economy is recovering well.
The syndicated loan is the third of its kind for Techcombank over the last two years.
(Source: VNA)
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