TTC AgriS secures an additional $80 million

May 13, 2024 | 16:37
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Thanh Thanh Cong - Bien Hoa JSC (TTC AgriS) completed the signing of a loan agreement worth $80 million with Taiwan's E.SUN Commercial Bank Ltd on May 13.

E.SUN Commercial Bank is the lead bank in the deal, acting as the primary arranger and manager of the loan capital.

The deal saw the participation of Hua Nan Commercial Bank, Mega ICBC Bank, Export-Import Bank of the Republic of China, Chang Hwa Commercial Bank, Land Bank of Taiwan, Shanghai Commercial and Savings Bank, and Taiwan Business Bank.

TTC AgriS secured an additional $80 million in international capital

The signing ceremony was attended by representatives from TTC Group, TTC AgriS, E.SUN Bank, and a consortium of financial institutions from the Taiwanese and Chinese banking sectors. The agreement is expected to support TTC AgriS in fulfilling its key strategic directions for the 2021-2025 period, focusing on exploring potential markets and reaching a revenue target of VND60 trillion ($2.5 billion).

According to the representative of E.SUN Commercial Bank, the loan amount exceeds the initial negotiation amount by an impressive two-and-a-quarter times. This reflects the high evaluation from Taiwanese and Chinese credit institutions regarding TTC AgriS' business operations, growth prospects, creditworthy profiles, and comprehensive corporate governance.

Dang Huynh Uc My, vice chairperson of TTC AgriS, said, "TTC AgriS aims to establish a playing field for financial institutions and credit organisations to participate in sustainable agricultural economic value chains, contributing to the value resonance and promoting investment for the development of a circular economy."

TTC AgriS secured an additional $80 million in international capital
Dang Huynh Uc My, vice-chairwoman of TTC AgriS

E.SUN Commercial Bank, established in 1992, is one of the top banks in the Taiwanese market. In addition to its headquarters in Taipei and 139 branches throughout Taiwan, the bank operates 31 business units across 10 countries, primarily in the financial centres of the Asia-Pacific region.

E.SUN Commercial Bank is renowned as a pioneering bank in environmental, social, and governance (ESG) practices and has been included in the Dow Jones Sustainability Emerging Markets Index for 10 consecutive years and the Dow Jones Sustainability World Index eight times. The bank is ranked in the top 5 per cent of global financial institutions in this index and in the top 1 per cent in 2022 and 2023.

As a multinational agricultural enterprise, TTC AgriS has been at the forefront of upgrading and standardising its corporate management system on a sustainable development platform, applying ESG standards across all management, production, and business activities, along with absolute compliance with obligations to stakeholders and transparent information disclosure.

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By Thanh Van

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