<article><a href="https://www.dealstreetasia.com/tag/IFC/">The International Finance Corporation </a>(IFC), the private lending arm of the World Bank Group, has proposed to extend a financing facility of up to $100 million to Vietnamese lender Tien Phong Commercial Joint Stock Bank (<a href="https://www.dealstreetasia.com/tag/TPBank/">TPBank</a>).</article>

<a href="https://www.dealstreetasia.com/tag/IFC/">The International Finance Corporation </a>(IFC), the private lending arm of the World Bank Group, has proposed to extend a financing facility of up to $100 million to Vietnamese lender Tien Phong Commercial Joint Stock Bank (<a href="https://www.dealstreetasia.com/tag/TPBank/">TPBank</a>).
The senior loan aims to support the TPBank to expand lending to small and medium enterprises and retail clients via its digital channels, IFC said in a disclosure on April 24.
IFC proposes to extend a $60-million A Loan from its own account and up to $22.5 million as implementing entity for the managed co-lending portfolio program. It has also proposed to arrange up to $17.5 million in the form of a syndicated loan.
The Hanoi-based lender expects its market capitalization to rise to least $1 billion in the fourth quarter after its scheduled listing this month, according to Chairman Do Minh Phu. It plans to sell about a 15 per cent stake to investors via a private placement and issue 28 per cent of dividend and bonus shares during the last three months of the year.
TPBank expects to raise its registered capital to VND8.5 trillion ($372 million), up from VND5.84 trillion ($256.9 million), this year through the shares issuances.
The lender listed 555 million shares at an initial price of VND32,000 ($1.41) on April 19 on the Ho Chi Minh City Stock Exchange, which valued the lender at about $781 million.
IFC is a TPBank shareholder with 5 per cent stake ownership after it invested over VND403 billion ($18.35 million) in the bank in 2016. Other shareholders of TPBank include: FPT Corporation (8.68%), DOJI Gold and Gems Group (7.60%), Vietnam National Reinsurance Corporation (VinaRe) (5.14%), SBI Ven Holdings (4.61%).
Last year, the Word Bank’s private lending arm also agreed to provide Vietnam Prosperity Joint Stock Commercial Bank (<a href="https://www.dealstreetasia.com/tag/VPBank/">VPBank</a>) with a $57 million convertible loan. The terms entitle IFC to convert the loan to VPBank’s common shares within the two-year loan term.
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<a href="https://www.dealstreetasia.com/stories/ifc-150m-syndicated-loan-abbbank-88847/">IFC announces $150m financing package for Vietnam’s ABBANK</a>
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IFC, the private lending arm of the World Bank Group has announced to provide Vietnam lender Tien Phong Commercial Joint Stock Bank (TPBank) with a loan of up to $100 million.

IFC likely to extend $100m debt to Vietnamese lender TPBank

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IFC likely to extend $100m debt to Vietnamese lender TPBank

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