On March 10, Masan
Group Corporation announced the completion of the roadshow for a $650 million syndicated loan, underwritten by BNP Paribas, Credit Suisse, HSBC, Standard Chartered Bank, and United Overseas Bank.
This transaction, coupled with the over-subscribed $600 million syndicated loan from 2022, will potentially amount up to approximately $1.25 billion of financing raised over the past six months.
This is a vote of confidence in Masan’s strong business fundamentals and a validation of its credit profile. Management will continue to optimise Masan’s balance sheet, reduce interest expenses, and deleverage via strategic corporate actions.
The MLABs have committed $375 million and the 2023 syndicated loan roadshow attracted significant interest from nearly 200 attendees in Singapore and Taiwan, which will enable Masan to upsize the transaction to a total amount of $650 million.
The loan is priced at 3.5 per cent over the US Dollar Secured Overnight Financing Rate, or approximately 8 per cent per annum. With a 5-year tenor, the 2023 syndicated loan will extend Masan’s debt maturity profile and strengthen its liquidity ratios.
In addition, Masan has repaid $130 million in bonds issued in 2020 which matured on March 9. Before the drawdown of the 2023 USD syndicated loan transaction, Masan has around $724 million in cash and cash equivalents (including investments), enabling the company to settle all upcoming debt obligations, and more importantly, invest in future growth.
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CHIN-SU chili sauce contributed to recreating the scene of cooking old pho with traditional flavours in Van Cu Village from December 9 to 12. The villagers from the hometown of pho and thousands of visitors witnessed talented chefs preparing the dish and excitedly immersed themselves in the interesting activities during the Day of Pho.
| ||Masan posts net revenue of $3.25 billion in 2022 |
Masan Group Corporation posted net revenue of $3.25 billion in 2022, according to its unaudited management accounts for the fourth quarter and the financial year 2022.
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The Sherpa Co., Ltd., a subsidiary of Masan Group, has received an offshore registration certificate to carry out investment activities in Singapore.