FE CREDIT raises US$100 million in financing arranged by Credit Suisse
VPBank Finance Company Limited (FE CREDIT) has announced that it has obtained a US$100 million senior secured term loan committed facility (facility) to supplement working capital as it continues to build its domestic consumer finance services business.
Kalidas Ghose, CEO of FE CREDIT, received the GlobalGlobal Banking & Finance Review 2016 award
The facility was arranged by Credit Suisse AG Singapore (Credit Suisse) as the sole lead arranger, facility agent and security agent. Credit Suisse is one of the largest foreign capital arrangers in Vietnam, having arranged approximately US$7 billion in funding for local entities over the past several years. Credit Suisse has also been recognized as the best foreign investment bank in Vietnam by several international financial magazines over the last 10 years.
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 organization in Vietnam.
Mr. Kalidas Ghose, CEO of FE CREDIT, said, “We are very pleased to have such a positive response from our international banking partners in the facility. This facility enables the company to raise capital for our growing business and provides strong support for our business operations. This cooperation will help further the company’s ambition to be the leading consumer finance organization in Vietnam. It demonstrates the trust that international banks have in the business performance, and the sustainable growth vision of FE CREDIT.”
Mr. Rehan Anwer, Managing Director of Investment Banking & Capital Markets at Credit Suisse AG Singapore, noted, “We are pleased to support FE CREDIT’s future growth ambitions as it continues to build its business of providing innovative financing solutions for Vietnamese customers. 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.”
Over the past six years, FE CREDIT has served nearly 3 million Vietnamese customers across Vietnam who despite earning a decent income, are often neglected by banks. FE CREDIT has achieved its market leading position thanks to pioneering in providing the advanced products, from personal loans, two-wheeler loans and consumer durables loans to credit cards. Visit www.fecredit.com.vn or call (08) 39 115 212 or email: firstname.lastname@example.org for investment opportunities.
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 provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Further information can be found at www.credit-suisse.com.