According to the bank's website, "the investment consists of a five-year convertible senior loan of up to US$75 million on IFC’s own account to Southeast Asia Commercial Joint Stock Bank (SeABank or the Bank), a top 12 private bank by asset size in Vietnam and IFC’s recently onboarded client, to support the Bank’s growth strategy and increase targeted lending to SMEs, including WSMEs. Of the total financing package, at least US$20 million will be earmarked exclusively for on-lending to WSMEs. IFC will have an option to convert its loan to an up to 5 percent shareholding in the form of common shares of SeABank."
Southeast Asia Commercial Joint Stock Bank
Mr. Nguyen Tuan Anh
Head of Risk
+ 84 24 3944 8688
BRG Tower, 198 Tran Quang Khai street, Hoan Kiem, Hanoi, Vietnam
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