May 14, 2020 / 11:13 AM / 21 days ago

Vietnam's Techcombank takes $500 mln syndicated loan from foreign lenders

HANOI, May 14 (Reuters) - Vietnam Technological and Commercial Bank said on Thursday it has taken a $500 million syndicated loan from foreign lenders.

The three-year loan, which has a margin of 1.5% over Libor, was led by United Overseas Bank, which was joined by Australia and New Zealand Banking Group, CTBC Bank , First Abu Dhabi Bank PJSC and Taishin International Bank.

“Loan proceeds are for general corporate and working capital purposes,” the bank, better known as Techcombank, said in a statement. (Reporting by Khanh Vu; Editing by Alex Richardson)

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