(TBTCO) – Vietnam International Commercial Joint Stock Bank (VIB) has just completed successfully mobilizing a medium and long-term syndicated loan worth 280 million USD from 13 leading financial institutions in the region and the world. In which: United Overseas Bank Limited (UOB) is the coordinating bank. The three banks participating as lead arrangers and bookrunners of the loan include: UOB, Mashreqbank PSC and Maybank; and 10 other financial institutions from many regions and countries participating as credit partners.
|VIB successfully mobilized a loan of 280 million USD from 13 leading financial institutions in the region and the world. Photo: TL
Capital from this syndicated loan will be used by the bank to serve core retail lending activities with a portfolio with low concentrated risk, and the ratio of outstanding loans with collateral up to 92%. %. The structure of VIB’s retail loan portfolio is currently quite diverse and balanced with products such as housing and home repair loans, car loans, business loans and credit cards.
In addition, successfully mobilizing this medium and long-term capital source helps VIB strengthen its financial resources, optimize and maintain a flexible capital structure, ensuring liquidity and operational efficiency. Notably, this is the second time VIB has made a syndicated loan from abroad in 2023. Previously in June 2023, VIB completed withdrawing capital from a loan worth 100 million USD with a 5-year term from International Finance Corporation (IFC). Thus, by the end of 2023, VIB’s total mobilized capital in the international capital market in 2023 will reach nearly 400 million USD.
Initially, VIB only set a target for the initial syndicated loan size of 200 million USD, with the greenshoe option. After a series of successful capital mobilization events in Singapore and Taiwan, VIB has received attention from many international financial institutions in new and potential markets such as UAE, Kuwait, and Oman. This is an opportunity for VIB to be introduced, contributing to expanding and enhancing VIB’s brand in the international market.
With positive feedback from the market, VIB decided to increase the loan value from 200 million USD to 280 million USD. 13 partners are reputable international banks with headquarters and a wide network of operations around the globe, participating in lending in this syndicated transaction. The success of this transaction demonstrates trust and appreciation for VIB’s outstanding business performance in its 10-year journey of transforming the retail banking model.
Mr. Han Ngoc Vu – General Director of VIB, shared: “With the retail banking development strategy, in recent years, VIB has always focused on mobilizing loan capital from the international market. This syndicated loan not only helps VIB meet the growing credit needs of customers but also helps diversify and optimize capital structure, ensure liquidity and maintain a strong balance sheet for sustainable growth goals”./.