[ad_1]
The Vietnam Technological and Business Joint Inventory Financial institution, generally known as Techcombank, has concluded a $1 billion syndicated mortgage facility, setting one other milestone in its offshore fundraising exercise, based on an announcement on Tuesday.
The syndication was launched in late December final yr at an authentic goal dimension of $700 million. That is the most important medium- and long-term syndicated mortgage raised by a Vietnamese monetary establishment to this point.
The ability marks Techcombank’s third method to the offshore mortgage syndication market, following its inaugural $500 million transaction in 2020 and a $800 million financing accomplished final yr.
Twenty-six prestigious worldwide banks — headquartered in Australia, China, France, India, Indonesia, Japan, Singapore, Taiwan, and the UK — joined this landmark transaction.
Normal Chartered Financial institution and United Abroad Financial institution Restricted initially underwrote the financing and have been joined by fellow mandated lead arrangers, underwriters, and bookrunners, specifically Australia and New Zealand Banking Group Restricted, The Hongkong and Shanghai Banking Company Restricted, and Sumitomo Mitsui Banking Company.
In the meantime, PT Financial institution Negara Indonesia (Persero) Tbk, CTBC Financial institution Co., State Financial institution of India, and Taipei Fubon Business Financial institution Co., Ltd. got here in as mandated lead arrangers and bookrunners.
The mortgage proceeds, that are for basic company and dealing capital functions, would bolster Techcombank’s capacity to help the growing medium and long-term funding wants of its prospects because the Vietnamese economic system recovers from the COVID-19 pandemic.
Techcombank is among the largest joint inventory banks in Vietnam with over 300 transaction places of work throughout the nation. The financial institution’s ecosystem method, which is applied throughout a number of key financial sectors, additional differentiates Techcombank in one of many fastest-growing economies on this planet.
In 2020, Techcombank secured an inaugural $500-million syndicated mortgage facility from 24 undisclosed traders.
The financial institution raised $370 million fairness funding from Warburg Pincus in a pre-IPO deal in 2018, marking the most important personal fairness funding in Vietnam at the moment.
After securing the financing from Warburg Pincus, Techcombank was listed on the Ho Chi Minh Metropolis Inventory Alternate in the identical yr after elevating $923 million in its IPO that attracted Singapore’s sovereign fund GIC as a cornerstone investor.
[ad_2]
Source link