Vietnam’s Vingroup secures international loan
Vietnam’s Vingroup Joint Stock Company, a Hanoi-based real estate and tourism conglomerate, announced on October 9 that it has completed the negotiation and signing of an international syndicated loan agreement worth $100 million.
Vingroup’s senior management said that the $100 million loan will be disbursed in October 2013 with Libor interest rates of 5.5 per cent per year and will be paid gradually over three years. The loan aims to fund Vingroup’s future real estate projects.
Credit Suisse AG (Singapore), Maybank Investment Bank Berhad and Deutsche Bank AG (Singapore) will arrange the loan.
With the loan, Vingroup will become the first property company in Vietnam to approach the international syndicated loan market successfully. Earlier, Vingroup was the first Vietnamese business to issue a$100 million international convertible bond in 2009.
Last year, Vingroup issued $300 million convertible bonds. In May 2013, Vingroup and investment fund Warburg Pincus officially signed an agreement under which Warburg Pincus will invest $200 million to buy 20 per cent of shares from Vincom Retail, a branch of Vingroup which operates and develops shopping centers.
Vietnam's Vingroup Joint Stock Company, a Hanoi-based real estate and tourism conglomerate, announced on October 9 that it has completed the negotiation and signing of an international syndicated loan agreement worth $100 million. Vingroup’s senior management said that the $100 million loan will be disbursed in October 2013 with Libor interest rates of 5.5 per cent per year and will be paid gradually over three years. The loan aims to fund Vingroup’s future real estate projects. Credit Suisse AG (Singapore), Maybank Investment Bank Berhad and Deutsche Bank AG (Singapore) will arrange the loan. With the loan, Vingroup will become the...
Vietnam’s Vingroup Joint Stock Company, a Hanoi-based real estate and tourism conglomerate, announced on October 9 that it has completed the negotiation and signing of an international syndicated loan agreement worth $100 million.
Vingroup’s senior management said that the $100 million loan will be disbursed in October 2013 with Libor interest rates of 5.5 per cent per year and will be paid gradually over three years. The loan aims to fund Vingroup’s future real estate projects.
Credit Suisse AG (Singapore), Maybank Investment Bank Berhad and Deutsche Bank AG (Singapore) will arrange the loan.
With the loan, Vingroup will become the first property company in Vietnam to approach the international syndicated loan market successfully. Earlier, Vingroup was the first Vietnamese business to issue a$100 million international convertible bond in 2009.
Last year, Vingroup issued $300 million convertible bonds. In May 2013, Vingroup and investment fund Warburg Pincus officially signed an agreement under which Warburg Pincus will invest $200 million to buy 20 per cent of shares from Vincom Retail, a branch of Vingroup which operates and develops shopping centers.
