FE CREDIT obtains $100mn loan facility

31-Dec-2016 Intellasia | Vneconomictimes | 6:00 AM Print This Post

The VPBank Finance Company Limited (FE CREDIT) obtained a $100 million senior secured term loan committed facility on December 28 to supplement its working capital as it continues to build its domestic consumer finance services business.

The facility was arranged by Credit Suisse AG Singapore (Credit Suisse) as sole Lead Arranger, Facility Agent and Security Agent.

The facility, which is secured over a portfolio of FE CREDIT’s consumer loan receivables, will help further the company’s ambition to be the leading consumer finance organisation in Vietnam.

“This facility enables the company to raise capital for our growing business and provides strong support for our business operations,” Kalidas Ghose, CEO of FE CREDIT, said. The cooperation also demonstrates the trust that international banks have in its business performance and sustainable growth vision.

Credit Suisse is one of the largest foreign capital arrangers in Vietnam, having arranged approximately $7 billion in funding for local entities over the last several years. It has been recognised as the Best Foreign Investment Bank in Vietnam by several international financial magazines over the last decade.

Rehan Anwer, Managing director – Investment Banking & Capital Markets at Credit Suisse AG Singapore, said: “Vietnam is an important market for Credit Suisse, and we are committed to delivering value to our clients by leveraging the strength of our integrated investment banking and financing platform.”

He added that with this agreement, Credit Suisse will support FE CREDIT’s future growth ambitions as it continues to build its business of providing innovative financing solutions for Vietnamese customers.

Over the past six years, FE CREDIT has served nearly 3 million Vietnamese customers who, despite earning a decent income, are often neglected by banks. It has achieved its market leading position thanks to pioneering the provision of advanced products, from personal loans, two-wheeler loans, and consumer durables loans to credit cards.

It was recognised by the UK’s Global Brands magazine as “Best Consumer Finance Brand, Vietnam 2016″ and by the UK’s Global Banking & Finance Review as “Best Consumer Finance Company Vietnam 2016″.

Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies. As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide.



Category: Finance, Vietnam

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