VNDIRECT sign off syndication with foreign financial institutions

This is the second offshore syndication VNDIRECT has raised in 2022 for the purpose of providing working capital for its business and operations activities.

This time, Maybank Securities Pte., Ltd. – a member of Maybank Investment Banking Group – and Taipei Fubon Commercial Bank Co., Ltd. were the co-lead arrangers for the loan – Mandated Lead Arrangers & Bookrunners (MLABs).

The deal attracted 8 other foreign banks from the Taiwan, Hong Kong, and Singapore markets. Being 100 per cent unsecured, this facility proves the trust of the international capital market toward the business vision and mission of VNDIRECT.

The loan facility term is under 12 months, with the interest rate on a Cumulative Compounded SOFR basis, following the current international capital market standard.

Previously, VNDIRECT successfully closed two other syndications in September 2021 and December 2021, with a total amount of almost $200 million.

In the context of the challenges around the international and domestic capital markets, VNDIRECT’s successful offshore syndication fundraising has shown the corporation’s reputation and position in the international capital market as well as its strong financial capability to fulfil its commitments to clients, shareholders, and partners on the pathway to building financial health, prosperity, and sustainable growth.

Speaking about this fundraising, Nguyen Vu Long, general director of VNDIRECT, said the company always focuses on developing relationships with domestic and foreign financial institutions to build the foundations for a diversified financial products and services ecosystem to accommodate everyone’s demands.

The continuous support from reputable foreign financial institutions in this syndication once again proves the trust of partners toward VNDIRECT’s capability in financial products and services business and investment.

VNDIRECT predicts Vietnam's GDP growth at 3.9 per cent in 2021. Regarding quarterly growth, the brokerage forecasts GDP at -1.2 per cent in the third quarter before rebounding to 5.7 per cent in the fourth.

VNDIRECT Securities Corporation (VND) has successfully raised a one-year syndicated loan for a total deal size of $100 million. This was VND’s maiden loan in the offshore syndication market as it opted to tap into a broader pool of liquidity to support its business growth.