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Wednesday, July 24, 2024

Techcombank gets US$1 billion syndicated foreign loan

The Saigon Times

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HCMC – Techcombank, which trades its TCB shares on the Hochiminh Stock Exchange, has successfully secured a syndicated loan worth US$1 billion from foreign lenders.

This is the third time that the lender has accessed a syndicated foreign loan after the first loan of US$500 million in 2020 and the second of US$800 million in 2021, the local media reported.

The third syndicated loan was offered by 26 international banks from Britain, India, Taiwan, Indonesia, Japan, France, Singapore, China and Australia.

Techcombank will use the loan to fund its business operations, improve its customer services and meet their demand for mid- or long-term loans.

Closing the trading session today, June 21, TCB stood at its reference price.

Investor caution sent the VN-Index of the HCMC bourse down by 7.93 points, or 0.67%, from the session earlier, at 1,172.47, with the number of losers outnumbering that of gainers by 323 to 138.

There were some 695 million shares worth VND15.8 trillion changing hands, inching up 4% in volume and 2% in value against the previous session.

Steelmaker HPG took the lead by liquidity on the southern market with a matching volume of 40 million shares.

On the Hanoi Stock Exchange, the HNX-Index continued the downward spiral, ending down 3.3 points, or 1.23%, from the previous session, at 264.62, extending its falling streak for the third straight session.

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