Credit Suisse to Offer US$700Mln Loan to Vietnam's Vinalines
The Swiss bank Credit Suisse will provide US$700 million loans for Vinalines, a leading shipping company in Vietnam, according to the memorandum signed between two sides.
Under the Financial Service Memorandum, Credit Suisse will provide Vinalines with ratings advisory, fund raising and risk management services.
The bank will also help develop a financing program of up to US$1 billion for Vinalines, which will be the first offshore loan for the Vietnamese firm.
Credit Suisse has earlier also linked up with Vinashin, Vietnam’s leading shipbuilding firm, to work on financing programs as it ramps up activity in Vietnam. The bank arranged a US$600 million loan to Vinashin in June.
Credit Suisse was selected as the privatization adviser for the Vietnam Foreign Trade Bank (Vietcombank). (Foreign Media)
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