The Vietnamese ministry of finance has guaranteed the 13-year loan, which was insured by Nippon Export and Investment Insurance (NEXI).
“Under the terms of the agreement, Citi is the sole NEXI co-ordinator and the Joint Lead Arranger together with Mizuho Corporate Bank, Sumitomo Mitsui Trust Bank, and the Bank of Tokyo-Mitsubishi UFJ,” Vinacomin said.
It is the first joint bauxite and alumina project ever undertaken in Vietnam
“The $300 million loan agreement is the largest agreement ever for Vinacomin. This financing is particularly meaningful as it will be used to finance Vinacomin’s Lam Dong bauxite/alumina complex project, an important national development with direction and support from the Government,” Le Minh Chuan, president and ceo of Vinacomin, said. “The loan will have a significant impact on the success and effectiveness of the project.”