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|Leaders of FLC Group and Credit Suisse AG|
On July 6, Credit Suisse AG’s Singapore branch allocated a senior secured term loan facility worth up to $200 million (VND4.6 trillion), 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 both in 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), Halong (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’s establishment is part of FLC Group’s long–term strategy, which not only aims 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 in 2001 and is now one of the largest foreign capital arrangers in Vietnam, having arranged approximately $7 billion in funding for the Vietnamese government, local state-owned and private enterprises, as well as foreign enterprises in Vietnam.
Credit Suisse has been recognised 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 and stable and rapid growth prospects in line with its rigid standards.
Credit Suisse measures Vietnam as one of its key markets with the aim to double its profits in 2018, among its global strategy focusing capital and resources on the Asia-Pacific. The investment bank will continue to bring big foreign investors to Vietnam in several fields, such as aviation, infrastructure, and telecommunication.
FLC Group is the latest partner of Credit Suisse in Vietnam, along with VPBank, Vietcombank, and FE Credit, among others.
Credit Suisse announced that they conducted thorough research 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 its effective business model, financial transparency, safe capital structure, and efficient business activities.
The Swiss bank also appreciates FLC Group’s strategic focus on property investments and development in order to maintain its firm position in the Vietnamese resort real estate market, as well as the strategies to expand into aviation and high-technology agriculture, among others.
Founded in 1856 in Switzerland, Credit Suisse provides financial services in investment banking, private banking, and asset management. Recognised as one of the world’s best investment banks, Credit Suisse proves their ability by remaining stable through the financial crisis without any government support.