Credit Suisse AG Allocates Credit Package of US$200 million to FLC Group

Thanh Thao

23:16 13/07/2018

BizLIVE - FLC Group is the latest partner of Credit Suisse in Vietnam, along with VPBank, Vietcombank, FE Credit, etc.

Credit Suisse AG Allocates Credit Package of US$200 million to FLC Group

Leaders of FLC Group and Credit Suisse AG

On July 06, Credit Suisse AG, Singapore Branch, allocated a senior secured term loan facility worth up to US$200 million, equivalent to VND4,600 billion, to FLC Group under a credit agreement signed by the two parties.
According to FLC Group, this facility, with a term of 2.5-3 years, is secured by shares in some of its subsidiaries and will be used to supplement its working capital. The disbursed fund will be allocated to implement and expand its projects and new business activities. With this facility, FLC Group proves to be highly rated in terms of prestige and development prospects by Credit Suisse AG as well as other international financial institutions.
In recent months, FLC Group has seen positive results in real estate sales, with 2,000 new products sold in the most recent two months in four projects in Quy Nhon (Binh Dinh), Sam Son (Thanh Hoa), Ha Long (Quang Ninh) and Quang Binh. This is also the peak season in resort services offered by FLC Group.
Apart from having developed an effective sales system, supported by a network of thousands of brokerage staff from large real estate distribution agents throughout Vietnam, FLC Group has also made big steps with the establishment of Bamboo Airways.
The airline establishment is among FLC Group’s long–term strategy, which is not only aimed to satisfy the increasing market demand in the aviation market but also to improve the operational efficiency of its existing resorts.
Credit Suisse has started operations in Vietnam since 2001 and it is now one of the largest foreign capital arrangers in Vietnam, having arranged approximately US$7 billion in funding for Vietnamese Government, local state-owned and private enterprises, as well as foreign enterprises in Vietnam.
Credit Suisse has been recognized as the best foreign investment bank in Vietnam that arranges USD-denominated share and corporate bond issuances for local companies, as well as in M&A deals.
However, Credit Suisse often targets large enterprises which have strong financial capacity, stable and rapid growth prospects in line with its rigid standards.
Credit Suisse measures Vietnam as one of its key markets with aim to double profits in 2018, among its global strategy focusing capital and resources on Asia - Pacific market. The investment bank will continue to bring big foreign investors to Vietnam in several fields such as aviation, infrastructure and telecommunication, etc.
FLC Group is the latest partner of Credit Suisse in Vietnam, along with VPBank, Vietcombank, FE Credit, etc.
Credit Suisse announced that they conducted thorough researches by their analysis and financial experts before signing this loan agreement with FLC Group. FLC Group has proved its prestige and strong financial capacity thanks to effective business model, financial transparency, safe capital structure and efficient business activities.
The Swiss bank also appreciates FLC Group’s strategy with focus on property investments and development in order to maintain its firm position in Vietnamese resort real estate market, as well as the strategies to expand new business in aviation, high-technology agriculture, etc.

Founded in 1856 in Switzerland, Credit Suisse provides financial services in investment banking, private banking and asset management. Recognized as one of the world’s best investment banks, Credit Suisse proves their ability by remaining stable through financial crisis without any Government’s support.

THANH THAO