HSBC Bank (Vietnam) Ltd. (HSBC Vietnam) has cooperated with a number of other financial institutions to provide Masan GroupCorporation (Masan) and The Sherpa Company Limited - a direct subsidiary of Masan with a US$600 million syndicated term loan to facilitate their investment,supporting Masan’s strategic long-term objectives and general corporate purposes.
HSBC acted as Joint Mandated Lead Arranger, Underwriter and Bookrunner on this landmark transaction. The success of the transaction underscores HSBC’s ability to provide an underwritten financing solution despite prevailing market uncertainty and macroeconomic headwinds, leveraging our leading origination and distribution platform and strong read of the market to drive a positive outcome for the client.
The 5-year facility also marks the largest and longest tenor syndicated loan Masan has ever raised. Despite several challenges, the transaction drew an overwhelming response from the market, attracting 37 lenders during syndication. Theamount was upsized to USD600 million from the initial target of USD375 million.
“We are delighted to contribute to the development of Vietnam’s consumer market through this breakthrough deal.It has added to our track record of pioneering capital market transactions and demonstrates our strong structuring, origination and syndication capabilities in Southeast Asia and notably in Vietnam.Despite the global uncertain environment, we have successfully arranged the fully underwritten transaction to fuel Masan’s passion to uplift the lives of Vietnamese consumers”, said Stephanie Betant, Head of Wholesale Banking at HSBC Vietnam.
The stellar performance of this syndication demonstrates the strong confidence of investors 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 recovery in post-Covid world amidst external challenges, its strong domestic economy where the middle class in on the rise.
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 their Turkish, Thai and British counterparts. As the consumption story is getting bigger and better in Vietnam, HSBC is here to support Vietnamese businesses like Masan to open up a world of opportunities.