Vietjet signed international credit loan for medium and long-term financing program worth over USD200 million
(Ho Chi Minh City, November 15, 2019) - On November 15, Vietjet organized the signing ceremony for the unsecured, international medium and long-term syndicated loan at one of the best interest rates in the market today. The participating international banks included Woori Bank, ICBC, and KEB Hana Bank.
In which, Woori Bank is the Mandated Lead Arranger. Additionally Vietjet entered into a credit financing agreement with Woori Bank. Total for USD140 million. The program is going continuously to arrange additional amount of USD 200 million with another international bank very soon.
These credit agreements reinforce the growing relationship between Vietjet and the regional banks to diversify capital sources. With Vietjet’s high growth potential, the financing agreements helped increase the medium and long-term foreign currency sources to meet the needs of expanding its modern fleet in line with the company’s long term international growth strategy.
Vietjet has been leading in the domestic market and continues to strengthen its international market presence. Over the past 5 years, Vietjet’s revenue and profit have grown at an average of 50%. According to AirFinance Journal’s ranking in 2019, Vietjet scored a BBB rating and ranked in the world’s top 50 airlines in term of financial health for the second consecutive year. The EBITDAR margin was scored at A by AirFinance, and Vietjet ranked top 3 among the airlines over the world. The current liquidity ratio was 1.3. The debt to equity ratio was 0.6, of which the equity was USD640 million, the total asset was USD2 billion. On November 14, Vietjet was awarded the Asia Pacific LCC Airline of the year by CAPA.
With these international credit agreements, parties look forward to greater cooperation opportunities in Vietjet’s financing resources in the future.