Citi was recently the sole lead arranger and lender on a $200 million 6-year, fixed-rate, dual-tranche secured amortising loan for Peruvian domiciled Viettel Peru S.A.C (Bitel) – a subsidiary of the leading Viettel Group.
|Citi provides a complete financing solution for Viettel Peru |
The timing for the execution of the deal was perfect, capturing an ideal market window with competitive terms offered to Bitel in line with its management guidance and development strategy.
Citi is well recognised as a bank with the unique capabilities required to execute the deal, including a local presence and full banking capabilities across Peru, the US, and Vietnam.
Citi leveraged its extensive syndication experience across different investor groups including asset managers, insurers, and both regional and local banks to tailor and optimise demand, thereby increasing price tension and ensuring the breadth and quality of investors.
In addition, Citi provided a solution to hedge part of the loan’s USD exposure, thereby mitigating foreign exchange risk and optimising the credit facilities to meet the needs of the client.
Ramachandran A.S., Citi country officer for Vietnam said, “This landmark transaction marks the first truly syndicated loan to an offshore subsidiary of a top local corporate client of Citi Vietnam. It shows the breadth of Citi’s capabilities."
"The successful closing of this long tenor loan facility amidst highly challenging credit market conditions, both locally and internationally, underlines the strong fundamentals and outlook for the Viettel group as well as Viettel Peru."
"Citi is honoured to be selected to play the roles of arranger, lender, admin agent, and hedge provider for this transaction. It also demonstrates our continued commitment to our clients in Vietnam,” he added.
Citi was established in Vietnam in 1994 and now has two branches located in Hanoi and Ho Chi Minh City. Over the past 28 years, it has been expanding its institutional businesses across its full suite of products including corporate and investment banking, capital markets, and transactional banking services.
The bank’s unmatched credentials, global network, and partnership with the largest local banks and fintech organisations have made Citi the main bank of choice for top-tier local corporates, financial institutions, and the largest multinational companies operating in Vietnam.
Citi is serving the biggest foreign direct investment client portfolio of Fortune 500 companies and facilitating annual international trade flows exceeding $90 billion in Vietnam.
It also develops digital innovation technologies and provides digital platforms to help clients facilitate global transactions anytime and anywhere. Citi's mission is to serve as a trusted partner to its clients by responsibly providing financial services that enable growth and economic progress.
After a record year of supporting clients across the region, Citi Asia-Pacific was named Asia’s best bank, best corporate and institutional advisor, best equity advisor, best equity-linked advisor, and best bond advisor by The Asset magazine.