Cathay United Bank acted as sole Mandated Lead Arranger and Bookrunner (MLAB) in this deal, which launched in September 2021 at an initial deal size of $98 million with a greenshoe option of up to $100 million in total. The deal then attracted the participation of 10 banks from Taiwan, Hong Kong (China), and Europe.
Previously, in September 2021, VNDIRECT received a one-year syndicated loan from a group of foreign banks with a total value of $100 million, in which Maybank Kim Eng Securities Pte., Ltd. Singapore acted as sole MLAB.
The success of the two syndicated loans from foreign banks in 2021 demonstrates VNDIRECT's strategic direction in continuously expanding and developing cooperation with foreign financial institutions. Especially, in the second loan, VNDIRECT has strengthened its position by attracting new capital from Europe, along with abundant capital from Taiwan into Vietnam's stock market.
Commenting on this loan, Nguyen Vu Long, acting general director of VNDIRECT said: “During the past 15 years, VNDIRECT has always focused on building and developing relationships in both the domestic and international capital markets. The success of two syndicated loans in 2021 with the total value of $200 million from foreign financial institutions has demonstrated the confidence of foreign partners in the development potential of the company. This is also an important step to help the company fulfill its mission of connecting the international capital market not only for VNDIRECT but also for many other companies in Vietnam. With resources in human, finance, and technology, VNDIRECT will continue to improve our diverse investment ecosystem to help all customers create lifelong financial health.”
In 2021, besides syndicated loans, VNDIRECT also got bilateral loans from foreign credit institutions. The diversification in capital markets has helped VNDIRECT establish relationships with many domestic and foreign financial institutions, thereby having abundant capital to meet the market growth in 2022.
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