SSI wrapped up a $85 million unsecured foreign loan from foreign banks

December 15, 2020 | 18:08

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SSI Securities Corporation has recently inked a deal with a group of nine foreign banks led by the Union Bank of Taiwan (UBOT) for an unsecured loan worth $85 million.

ssi wrapped up a 85 million unsecured foreign loan from foreign banks

SSI has just wrapped up a $85 million foreign unsecured loan

The loan has a term of no more than 12 months with the short-term interest rate, according to the international money market. This is the largest sum that a Vietnamese securities firm has secured from a foreign bank so far.

Previously, the SSI also wrapped up a $55 million loan from a financial institution group led by SinoPac to become the first security company in Vietnam to access foreign unsecured loans.

According to SSI, the expansion of foreign loan limits will lay a foundation for the firm to effectively develop its business segments due to the low cost of capital and large volume. It is expected that SSI will allocate capital to investment in securities services and bond dealing to enhance the competitiveness of SSI's products and services in the market.

As of September 30, SSI has a charter capital of VND6.03 trillion ($262.17 million) and total assets of VND26.93 trillion ($1.17 billion). Among them, its equity reached VND9.49 trillion ($412.6 million).

By Thanh Van

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