Techcombank successfully concludes fourth offshore syndicated loan facility

April 26, 2024 | 11:48

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Techcombank has successfully concluded its fourth offshore syndicated loan with 15 banks, providing a strong oversubscription of the $200 million facility.

The syndicated loan facility over a three-year tenor was launched on a selective basis in January this year. It was well-received and oversubscribed by a consortium of leading international financial institutions, highlighting Techcombank’s credibility and reputation within the global financial community.

Techcombank successfully concludes fourth offshore syndicated loan facility

The financing was fully underwritten and pre-funded by mandated lead arrangers, underwriters and bookrunners, including First Abu Dhabi Bank PJSC, Landesbank Baden-Württemberg, Mizuho Bank, Ltd., MUFG Bank Ltd., and Oversea-Chinese Banking Corporation Limited.

The participating lenders were from diversified regions, including the Middle East, the Philippines and China. The syndication was also successful in expanding Techcombank’s lender-base with more than half being first-time lenders.

The successful conclusion of this transaction further solidifies the market’s trust and confidence in Techcombank as well as its robust capital and earnings profile, even during a prolonged period of economic slowdown and market headwinds.

The proceeds raised from this syndicated loan will be used for Techcombank’s general corporate and working capital purposes, and will bolster Techcombank’s ability to meet the increasing medium- and long-term funding needs of its customers in both foreign and local currencies.

Leveraging a proven customer-centric strategy with a broad range of retail and corporate banking solutions and services, Techcombank has 13.6 million retail and corporate customers, which it serves through a market-leading digital banking platform and mobile app, and an extensive network of transaction service outlets across Vietnam.

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By Anh Duc

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