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Vinalines hires Credit Suisse for $700m maiden loan

Vinalines hires Credit Suisse for $700m maiden loan

Hanoi: State-run Vietnam National Shipping Lines, or Vinalines, has hired Credit Suisse to arrange a loan of up to US$700 million.

Credit Suisse and Vinalines signed an "exclusive" agreement letter to arrange the financing, the investment bank said in a statement Monday.

The offering is to be the first offshore financing for the company, it said.

Vinalines has recently received a license to build the Van Phong international port in Khanh Hoa province at a cost of VND2.9 trillion (US$180 million).

The company operates the largest ports in Vietnam, including Saigon Port, Haiphong Port, Danang Port and Cai Lan Port.  [14/08/07]

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