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Thứ 4, Ngày 31/03/2010, 09:56
Standard Chartered funds US$30 Million to VSIP Binh Duong Integrated Township and Industrial Park
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31/03/2010
BEGIC – March 30, at the Administrative Center of Binh Duong New City,Vietnam Singapore Industrial Park Joint Venture Company Ltd (VSIP) and Standard Chartered Bank (SCB) signed a US$30 million credit facility agreement which will fund the VSIP Binh Duong Integrated Township and Industrial Park project.
Honored participants of the ceremony includes Mr. Le Thanh Cung – Permanent Vice Chairman of Binh Duong People’s Committee, Mr. Nguyen Van Hung - Co-chairman of VSIP Board of Management, Mr. Jerry Ngo - Managing Director and Head of Origination and Client Coverage, Vietnam, Laos and Cambodia.
 
 
SCB was established in 1969 by the merger of the 02 banks, British South Africa SCB and SCB of India, Australia and China. In Vietnam, SCB is the first 100% foreign capital bank which was licensed and commenced operations in September 2008. SCB currently has two branches and employs 500 staff. The Bank provides a full suited of Customer Banking products and services to individuals and small and medium enterprises, including money saving, ATM card, credit, etc.
 
The loan facility of US$30 millions includes a US$20 million term loan with a 5-year tenor and one year US$10 million loan and will go towards working capital and capital expenditures of the VSIP Binh Duong Integrated Township and Industrial Park project.
 
Said Mr. Nguyen Van Hung: “This facility agreement represents the confidence of SCB in the development and growth strategy of VSIP. It is also a testimony to VSIP’s track record and brand-name to have successfully secured USD credit facilities in the future.”
 
Hoang Pham
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