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Wednesday, November 30, 2022

HSBC helps Masan Group access US$600-million loan facility

The Saigon Times

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HCMC – HSBC Vietnam has worked with several other banks to provide Masan Group Corporation, or Masan, and the Sherpa Company Limited, a subsidiary of Masan, with a US$600-million syndicated term loan to facilitate their investment.

The loan aims to support Masan’s strategic long-term objectives and general corporate purposes.

HSBC acts as a joint mandated lead arranger, underwriter and bookrunner for this transaction. The success of the transaction underscores HSBC’s ability to provide an underwritten financing solution despite prevailing market uncertainty and macroeconomic headwinds.

The five-year facility also marks a syndicated loan with the largest and longest tenor 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 US$600 million from the initial target of US$375 million.

“We are delighted to contribute to Vietnam’s consumer market development through this breakthrough deal. Despite the uncertain global environment, we have successfully arranged the fully underwritten transaction to fuel Masan’s passion for uplifting the lives of Vietnamese consumers,” said Stephanie Betant, head of Wholesale Banking at HSBC Vietnam.

This syndication demonstrates investors’ strong confidence in Masan and Vietnam’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 post-Covid recovery amidst external challenges. According to a recent report by HSBC Global Research, Vietnam will soon enter the list of the largest consumer markets globally. Indeed, Vietnam is set to become the tenth-largest global consumer market in 2030, overtaking its Turkish, Thai and British counterparts. As consumption is getting bigger and better in Vietnam, HSBC will continue to support Vietnamese businesses like Masan.

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