VinFast, the Vietnamese start-up focusing on electric car production raised $400 million in loans successfully. The plan to raise a green loan was initiated in October 2021 and raised on 28 December 2021.
The transaction was held by Vingroup, the parent company of VinFast. Previously, Vingroup’s unit on tourism and leisure operator, Vinpearl successfully issued $425 million sustainable exchangeable bonds in September 2021.
The loan form is a green syndicate loan for financing green and sustainable projects.
BNP Paribas and HSBC coordinated the transaction and Credit Suisse was the facility agent. The other book-runners included Cathay United Bank, Maybank, and Taipei Fubon.
VinFast is also planning to mop up $1.5 billion by issuing international bonds in Q1 of 2022. In addit...