|The headquarters of HSBC Vietnam is located on Dong Khoi street, HCM City. - Photo courtersy of HSBC|
HCM CITY - HSBC Bank (Vietnam) Ltd. (HSBC Vietnam) has cooperated with several other financial institutions to provide Masan Group Corporation (Masan) and The Sherpa Company Limited - a direct subsidiary of Masan - with a US$600 million syndicated term loan to facilitate their investment, supporting Masan's strategic long-term objectives and general corporate purposes.
HSBC acted as Joint Mandated Lead Arranger, Underwriter and Bookrunner on this landmark transaction. The transaction's success underscores HSBC's ability to provide an underwritten financing solution despite prevailing market uncertainty and macroeconomic headwinds.
The 5-year facility also marks the largest and longest tenor syndicated loan Masan has ever raised. Despite several challenges, the transaction drew an overwhelming response from the market, attracting 37 lenders during syndication. The amount was upsized to $600 million from the initial target of $375 million.
The stellar performance of this syndication demonstrates the strong confidence of investors in Masan and Việt Nam's economic growth potential, in addition to the recent credit rating upgrade by Moody's and S&P. Particularly, it reflects the country's resilient recovery in the post-COVID world amidst external challenges, its strong domestic economy where the middle class in on the rise.
According to a recent report by HSBC Global Research, Việt Nam will soon enter the list of the largest consumer markets globally. Indeed, Việt Nam is set to become the tenth-largest global consumer market in 2030, overtaking its Turkish, Thai and British counterparts. VNS