Electricity of Vietnam started talks with a group of banks for a five-year loan of about $300 million, according to two people familiar with the matter.
The Hanoi-based utility’s term loan may pay an all-in fee of about 400 basis points more than the London interbank offered rate, and proceeds would be used for working capital, the people said, asking not to be identified as the plan is private.
Credit Agricole CIB, Credit Suisse Group AG, HSBC Holdings Plc and Natixis have bid to participate as a group, while Australia & New Zealand Banking Group Ltd., Bank of Tokyo- Mitsubishi UFJ Ltd., BNP Paribas SA, Deutsche Bank AG, Standard Chartered Plc and Sumitomo Mitsui Banking Corp. are considering their involvement, the people said.
Simultaneously, EVN is seeking regulatory approval for a bond sale that could raise as much as $1 billion, the people said. EVN plans to refinance the loan with some of the proceeds from the bond, which would have a longer maturity than five years, they said.
Electricity of Vietnam said to seek five-year loan
Electricity of Vietnam started talks with a group of banks for a five-year loan of about $300 million, according to two people familiar with the matter.
Source: Bloomberg
