Saturday , May 25 2024

Masan scores $600-mln loan from HSBC, other lenders

HSBC and several other financial institutions have provided conglomerate Masan Group with a $600-million loan, the largest syndicated advance it has ever raised.

“Despite global uncertainties, we have successfully arranged the fully underwritten transaction to fuel Masan’s passion to uplift the lives of Vietnamese consumers,” said Stephanie Betant, head of wholesale banking at HSBC Vietnam.

A syndicated loan is provided by a group of lenders and is arranged by a commercial bank, which in this case is HSBC.

The stellar performance of this loan demonstrates the strong confidence of investors in Masan and Vietnam’s economic growth potential, in addition to the recent credit rating upgrade by Moody’s and S&P, HSBC said in a statement.

It reflects the country’s resilient recovery in the post-Covid world amid external challenges, and its strong domestic economy and rising middle class.

According to a recent report by HSBC Global Research, Vietnam is set to become the tenth largest global consumer market in 2030, overtaking their Turkish, Thai and British counterparts.

“As the consumption story is getting bigger and better in Vietnam, HSBC is here to support Vietnamese businesses like Masan to open up a world of opportunities.”

Masan operates WinMart, the largest consumer retail chain in Vietnam. It has a majority stake in Phuc Long beverage chain and has interests in tungsten mining.

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