Hoang Phi
The loan comes with a three-year term and is used to pay the existing loan of US$108 million and invest in the consumer goods field of Masan Group. The interest rate is not revealed but lower than that for the US$108-million loan.
US$150 million of the fresh loan is guaranteed by the Multilateral Investment Guarantee Agency (MIGA), which is a member of the World Bank Group and specializes in promoting investments to help support development targets.
Masan is the first private business in Vietnam and Southeast Asia to receive support from MIGA with a financial business loan. Moreover, the loan provided for Masan is the biggest MIGA has ever provided for a private firm globally.
Masan Consumer, a leading consumer goods producer in Vietnam, produces and distributes foods and drinks, such as fish sauce, soy sauce, chili sauce, instant noodle, instant coffee and instant cereal.
Masan Consumer earned nearly VND10.4 trillion in revenue and VND2.82 trillion in profit last year, up 62% and 115% respectively. Thanks to its impressive performance in the past time, Masan has attracted many foreign investments.
Early this month, Masan announced TPG Growth, the global growth equity platform of the private investment firm Texas Pacific Group (TPG), spent US$50 million buying a 49% stake in Masan Agriculture, another unit of Masan Consumer. Before that, KKR invested an additional US$200 million in Masan Consumer after pouring US$159 million into the local firm in 2011.
Meanwhile, Masan Consumer has struck some deals to buy other firms such as the animal feed producer Proconco, Vinacafe Bien Hoa Co., Vinh Hao Mineral Water Co. and Phu Yen Beer and Beverage Co.
Đăng ký: VietNam News
