PROJECT

Projects

Summary of Investment Information

Project Number

42030

Company Name

HO CHI MINH CITY DEVELOPMENTJOINT STOCK COMMERCIAL BANK

Date SPI Disclosed

Dec 22, 2021

Country

Viet Nam

Region

East Asia and the Pacific

Projected Board Date

Dec 20, 2021

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Feb 15, 2024

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Previous Events

Approved : Dec 20, 2021
Signed : Dec 21, 2021
Invested : Dec 28, 2021

Sector

Commercial Banking - General

Project Description

The proposed project entails an investment of up to US$95 million by IFC and IFC Asset Management Company (AMC) in a five-year and 1 day Basel II compliant US$ denominated Convertible Tier II Bond issued by Ho Chi Minh City Development Joint Stock Commercial Bank (‘HDBank’ or the ‘Bank’). The Bank is targeting to raise up to US$200 million through this privately placed issuance with the balance expected to be raised from international investors.

The investment is aimed at strengthening the Bank’s capital and support increased lending to retail and SME segments including women-owned SMEs (WSMEs).

Associated Advisory Engagement

None                            

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation