November 25, 2023 | 14:10 GMT+7

Vietcap Securities signs $75mln loan with Maybank and Taishin

Phuong Hoa -

Expanding large foreign loans at competitive cost will help stock broker secure more resources to boost its business activities.

Major stock brokerage house Vietcap Securities has announced the signing of syndicated loan of $75 million with a greenshoe option of up to $50 million.

Listed on the Ho Chi Minh Stock Exchange (HoSE) under the code VCI, the company said the loan was arranged by the Singapore-headquartered Maybank Securities Pte. Ltd. and the Singapore branch of the Taiwan (China)-based Taishin International Bank Co., Ltd.

The loan follows two other successful fundraising rounds by Vietcap in 2023. In July, it raised $45 million arranged by the Shanghai Commercial and Savings Bank, Ltd. through the lender’s offshore banking branch. In August, it completed a $100 million syndicated loan arranged by Mega International Commercial Bank through the latter’s offshore banking branch.

Previously, Vietcap conducted a fundraising round of $105 million arranged by Maybank Securities Pte. Ltd. and O-Bank Co., Ltd. in October 2022, $100 million arranged by Mega International Commercial Bank in May 2022, $100 million arranged by Maybank Securities Pte. Ltd. (then known as Maybank Kim Eng Securities Pte. Ltd.) in November 2021, and $40 million led by Bank Sinopac.

Expanding foreign loans with substantial capital at competitive cost will provide Vietcap with more resources to enhance its activities, the company said.

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