Foreign capital "aims" at financial companies

DNUM_BIZACZCABG 07:41

After pouring 50 million USD into Home Credit, Credit Suisse continues to receive requests for capital support for 2 other consumer finance companies in Vietnam.

Recently, Home Credit Finance Company was awarded the “Best Deal of 2015” by FinanceAsia. The award was given for the loan contract between Home Credit Vietnam and 3 foreign banks.

Specifically, it is a 3-year syndicated loan worth 50 million USD, jointly lent by 3 banks: Credit Suisse AG Singapore branch, MayBank Labuan Malaysia branch, and VietinBank branch in Germany. According to FinanceAsia, this is an unprecedented loan contract when international banks provide medium-term capital to a 100% foreign-owned financial company in Vietnam.

Although the loan value is not large, 50 million USD, this contract has opened a new capital mobilization channel for similar companies in Vietnam in the coming time.

Previously, financial companies like Home Credit only relied on capital from the parent company, but this time, Credit Suisse, as a credit agent, relied on Home Credit's receivables from customer loans as collateral, allowing the company to access medium-term loans from domestic banks with branches abroad such as VietinBank branch in Germany, which is unprecedented in Vietnam.

It is known that after the capital support for Home Credit was completed in October 2015, Credit Suisse continued to receive requests for capital support for 2 other consumer finance companies in Vietnam. This has proven that the new capital support model pioneered by Home Credit is feasible for companies in the consumer finance sector in Vietnam.

According to Baodautu

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Foreign capital "aims" at financial companies
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