Southeast Asia Commercial Joint Stock Bank secured a USD100 million loan from the International Finance Corporation to enhance housing loan accessibility for low-income families in Vietnam.
Target Information
Southeast Asia Commercial Joint Stock Bank (SeaBank) has announced a significant financial milestone, successfully securing a non-convertible senior loan amounting to USD100 million from the International Finance Corporation (IFC). This transaction, finalized on January 30, 2023, emphasizes SeaBank's robust operational capabilities and its commitment to enhancing access to affordable housing for low-income Vietnamese citizens. The loan is set to mature in five years from its issuance date, allowing SeaBank to support its lending initiatives effectively.
The proceeds from this loan will be specifically directed towards providing housing loans, which reflects IFC's strategy to address the housing needs of underserved communities in Vietnam. This support aims to enable many individuals and families to secure quality housing, contributing positively to the overall economic landscape of the region.
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Industry Overview
The Vietnamese financial services sector continues to show substantial promise, marked by increased foreign investment and the emergence of innovative banking solutions. With a projected GDP growth rate of around 6.5% for 2023, the financial service
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Disclosed details
Transaction Size: $122M
Revenue: $1,000M
Enterprise Value: $100M
Equity Value: $15M
Multiples
EV/Revenue: 0.1x