Vietnam Prosperity Bank’s $1 Billion EMTN Program

Mayer Brown represented Vietnam Prosperity Joint Stock Commercial Bank (VPBank) in the establishment of its US$1 billion Euro Medium Term Note (EMTN) program and its subsequent drawdown of US$300 million 6.25 percent notes due 2022.

The offering is the first of its kind in Vietnam and the first corporate U.S. dollar denominated bond out of Vietnam in the last seven years.

VPBank, a commercial bank headquartered in Hanoi, will use the proceeds to improve its financial capacity, enhance operational safety, and supplement its funding to meet its medium- and long-term loans.

The Mayer Brown team was led by Hong Kong-based Corporate & Securities partner Thomas Kollar (Picture), co-led by Banking & Finance partner Hoang Anh Nguyen and included: Corporate & Securities – associate Joo Park (Hong Kong) and corporate finance officer Sean Su (Hong Kong); Banking & Finance partner James Taylor, counsel Gary Silverman and senior associate Lauren Theodoulou (all London), and transaction manager Thi Hong Hanh Vu (Hanoi).

Involved fees earner: Thi Hong Hanh Vu – Mayer Brown; Thomas Kollar – Mayer Brown; Hoang Anh Nguyen – Mayer Brown; Joo Park – Mayer Brown; Gary Silverman – Mayer Brown; Sean Su – Mayer Brown; James Taylor – Mayer Brown; Lauren Theodoulou – Mayer Brown;

Law Firms: Mayer Brown;

Clients: Vietnam Prosperity Joint Stock Commercial Bank;

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Author: Michael Patrini