VietinBank to sign usd 139 million syndicated loan agreement
| VietinBank General Director, Mr. Le Duc Tho gave speech at the ceremony. |
On December 05th 2014 in Hanoi, Vietnam Joint Stock Commercial Bank of Industry and Trade (VietinBank) signed a syndicated loan agreement with the value of USD 139 million with 5 major Taiwanese banks by the arrangement of Cathay United Bank.
The signing ceremony was held successfully with the presence of Mr Lee Wei Cheng, CEO Corporate Banking, Cathay United Bank Head office; Mr Jan Yei Fong, Deputy General Director of Cathay United Bank, and General Director of Indovina Bank; Mr. Juan Feng-Li, Chief Executive Officer of Cathay United Bank, Chu Lai branch; Mr. Chen Chien Hung, Branch Manager of Mega International Commercial Bank, Ho Chi Minh branch; Mr Lin Heng Yi, Branch Manager of The Shanghai Commercial and savings bank, Dong Nai branch; Mr Warren Yang, Deputy branch manager of Far East National Bank, Ho Chi Minh branch; Mr Chu Jing Huei, Chief representative of Hua Nan Commercial Bank; Mr Le Duc Tho, General Director of Vietinbank; Mr. Tran Minh Binh, Deputy General Director of Vietinbank.
The Taiwanese banks participating in this syndicated loan agreement are five major and prestigious banks in the world. In addition to Cathay United Bank as the facility agent, the lenders include Mega International Commercial Bank, The Shanghai Commercial and savings bank, Far East National Bank and Hua Nan Commerical Bank.
The arranger of this agreement is Cathay United Bank, a 100% owned subsidiary of Cathay Group, the largest financial group in Taiwan. With 165 branches in Taiwan and over 10 branches and representative offices overseas, Cathay United Bank provide comprehensive financial services to clients by its professional staff. In Vietnam, Cathay United Bank established two representative offices in Hanoi and Ho Chi Minh City, as well as a branch in Chu Lai in 2005. It provides comprehensive financial services with high quality to Taiwan corporates as well as state-owned enterprise and private businesses in Vietnam.
In his speech at the signing ceremony, Vietinbank General Director, Mr. Le Duc Tho expressed his high appreciation of the collaboration between VietinBank and 5 major foreign banks under the arrangements of Cathay United Bank. This not only opens up opportunities for further cooperation among the parties but also set the stage for strong growth of VietinBank in particular and Vietnam financial market in general.
Meanwhile, representing Cathay United Bank as a Mandate lead arranger and one of lenders, Mr Lee Wei Cheng, CEO Corporate Banking, Cathay United Bank Head office told that VietinBank is a rising and expanding financial institution which ranks in 362 among the top 1,000 global banks, the best ranking in Vietnam, and also considered to have the strongest shareholders base in Vietnam`s commercial banking system. Cathay United Bank really look forward to having more opportunities to work with VietinBank in the near future.Through this deal, the relationship between Vietin Bank and our Taiwanese Banks could become closer and closer, he expressed.
The signing of this 139 million dollar syndicated loan agreement has asserted the prestige of Vietinbank on the international financial market, reflected the confidence of investors as well as international financial institution. Moreover, it is undoubtedly a significant additional source of foreign currency for VietinBank to meet our corporate clients’ needs, to access more resources to actively participate in the country’s financial credit supply, for the sake of Vietnam economic development. With the amount of 139 million dollar, VietinBank commits to funding for the right demand and rational use of resources to generate the highest return on investment.
| The signing ceremony of syndication loan agreement by VietinBank and 5 major Taiwanese banks. |
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