AsemconnectVietnam - Masan Group Joint Stock Company (HOSE: MSN), has just announced the completion of a series of events to introduce investment opportunities in a syndicated credit package of up to USD650 million, equivalent to more than VND15,000 billion. This is a syndicated loan in 2023.

The credit package is underwritten, involving key lenders and investment register managers (MLABs) including BNP Paribas Bank, Credit Suisse, HSBC, Standard Chartered and United Overseas Bank. Together with the oversubscribed syndicated loan of USD 600 million in the fourth quarter of 2022, Masan has the ability to mobilize a credit package of approximately USD1.25 billion in the past 6 months alone.
The transactions confirmed the confidence of financial institutions in Masan's solid business foundation and credit record. Masan's management will continue to optimize the balance sheet, reduce interest expenses and reduce debt through strategic implementation steps in the near future.
The parties to the 2023 Syndicated Loan have committed to pay USD375 million. Taking place in Singapore and Taiwan (China), a series of events introducing investment opportunities attracted strong interest from nearly 200 representatives of financial institutions with a total loan value of up to USD650 million. The USD loan has an interest rate plus 3.5% with the SOFR reference rate, which equates to an interest rate of 8% per annum. With a term of 5 years, the 2023 Syndicated Loan will help Masan increase its long-term capital and strengthen its liquidity.
On March 9, Masan also paid VND3,000 billion of bonds issued in 2020 and matured on March 9, 2023. Prior to the 2023 disbursement of the Syndicated Loan, Masan had VND17,147 billion in cash and cash equivalents (including investments), allowing the company to invest in initiatives that fuel growth and pay off all all debts maturing in the near future.
N.Nga
Source: VITIC/Tinnhanhchungkhoan