Syndicated Facility Agreement between BIDV-SuMi TRUST Leasing (BSL) and three branches of foreign banks in Vietnam

Syndicated Facility Agreement between BIDV-SuMi TRUST Leasing (BSL) and three branches of foreign banks in Vietnam

07/04/2022
On March 25, 2022, the signing ceremony of the syndicated facility agreement between 3 foreign banks in Vietnam and BIDV-SuMi TRUST Financial Leasing Company (BSL) took place at the head office of BSL in Hanoi. Particularly, E.SUN Commercial Bank, Ltd. – Dong Nai Branch (E.SUN Bank) was the mandated lead arranger & bookrunner and original lender, together with other original lenders including the Shanghai Commercial & Savings Bank, Ltd – Dong Nai Branch (Shanghai Commercial & Savings Bank), First Commercial Bank – Ho Chi Minh City Branch (First Bank).

The mentioned syndicated facility agreement is an important milestone for both borrower and lenders as one of the first onshore syndicated term loans arranged by commercial banks for a financial leasing company. This has signaled a positive development in financial leasing market. The signing has also helped enhance medium and long-term credit financing for small and medium-sized enterprises (SMEs) in Vietnam through financial leasing.

At the ceremony, Mr. Nguyen Thieu Son, the CEO of BSL, affirmed that this cooperation agreement has marked a further movement in the relationship between BSL and E.SUN Bank as well as led to new business opportunities with Shanghai Commercial & Savings Bank and First Bank. In addition, the cooperation would bring in opportunities and benefits to stakeholders, especially for corporates with medium and long term credit needs.

Mr. Alex Soung, the General Manager of E.SUN Bank – Dong Nai Branch, has highly appreciated BSL's performance in recent years. As the lead arranger of  the syndicated term loan facility, E.SUN Bank will cooperate with Shanghai Commercial & Savings Bank and First Bank to strengthen cooperation and promote relationships with BSL, thereby supporting credit needs of SMEs in Vietnam.

In 2021, according to Asia Money, E.SUN Bank is the best bank for SMEs in Taiwan. In the same year The Banker has also listed E.SUN Bank in the 500 most valuable banking brands in the world.

Ms. Jessica Lin, representative of Shanghai Commercial & Savings Bank, has shared that Shanghai Commercial & Savings Bank is pleased to cooperate with E.SUN Bank and First Bank in the syndicated term loan facility for BSL. Ms. Lin believes that this cooperation will bring new prospects for all parties, thereby bringing opportunities to provide medium and long-term credit for businesses in Vietnam.

Representatives of partner banks have highly appreciated BSL's governance capacity by good business performance over the last 5 years, when ensuring high growth associated with decent management of credit quality and  safety criteria.

By this cooperation, all parties have set mutual goals and vision, of which sustainable development would be priority towards contribution to the prosperity and sustainability of Vietnam via providing financial assistance to enterprises.